Vista Outdoor (GEAR) 10-Q 10 Aug 17 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jul. 02, 2017	Aug. 07, 2017
Document and Entity Information
Entity Registrant Name	VISTA OUTDOOR INC.
Entity Central Index Key	1,616,318
Document Type	10-Q
Document Period End Date	Jul. 2, 2017
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		57,047,196
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jul. 02, 2017	Jul. 03, 2016
Income Statement [Abstract]
Sales, net	$ 568,749	$ 630,269
Cost of sales	422,191	458,892
Gross profit	146,558	171,377
Operating expenses:
Research and development	7,791	7,831
Selling, general, and administrative	99,426	104,444
Income before interest and income taxes	39,341	59,102
Interest expense, net	12,393	11,963
Income before income taxes	26,948	47,139
Income tax provision	10,296	18,015
Net income	$ 16,652	$ 29,124
Earnings per common share:
Earnings Per Share, Basic	$ 0.29	$ 0.48
Earnings Per Share, Diluted	$ 0.29	$ 0.48
Weighted-average number of common shares outstanding:
Basic EPS shares outstanding	56,916	60,384
Diluted EPS shares outstanding	56,957	60,715
Pension and other postretirement benefit liabilities:
Reclassification of prior service credits for pension and postretirement benefit plans recorded to net income, net of tax benefit of $163 and $162, respectively.	$ (274)	$ (274)
Reclassification of net actuarial loss for pension and postretirement benefit plans recorded to net income, net of tax expense of $(666) and $(734), respectively.	(1,122)	(1,236)
Valuation adjustment for pension and postretirement benefit plans, net of tax benefit of $2,154 and $0, respectively	(3,628)	0
Change in derivatives, net of tax expense of $(14) and $0, respectively.	23	0
Change in cumulative translation adjustment, net of tax benefit of $0 and $0, respectively.	8,571	(4,799)
Total other comprehensive income (loss)	5,814	(3,837)
Comprehensive income	$ 22,466	$ 25,287

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Jul. 02, 2017	Jul. 03, 2016
Income Statement [Abstract]
Reclassification of prior service credits for pension and postretirement benefit plans recorded to net income, net of tax benefit	$ 163	$ 162
Reclassification of net actuarial loss for pension and postretirement benefit plans recorded to net income, net of tax expense	666	734
Valuation adjustment for pension and postretirement benefit plans, net of tax benefit	2,154	0
Change in derivatives, net of tax expense	(14)	0
Change in cumulative translation adjustment, net of tax benefit	$ 0	$ 0

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jul. 02, 2017	Mar. 31, 2017
Current assets:
Cash and cash equivalents	$ 53,550	$ 45,075
Net receivables	454,789	450,715
Net inventories	542,880	562,795
Income tax receivable	17,944	25,658
Other current assets	26,639	25,604
Total current assets	1,095,802	1,109,847
Net property, plant, and equipment	272,773	272,346
Goodwill	861,114	857,631
Net intangible assets	700,839	708,530
Deferred charges and other non-current assets	30,779	28,393
Total assets	2,961,307	2,976,747
Current liabilities:
Current portion of long-term debt	32,000	32,000
Accounts payable	102,098	127,718
Accrued compensation	31,773	33,663
Federal excise tax	26,092	30,082
Other accrued liabilities	130,022	122,926
Total current liabilities	321,985	346,389
Long-term debt	1,075,175	1,089,252
Deferred income tax liabilities	159,444	160,765
Accrued pension and postemployment benefits	62,710	64,230
Other long-term liabilities	71,360	71,046
Total liabilities	1,690,674	1,731,682
Commitments and contingencies (Notes 10 and 13)
Issued and outstanding — 57,030,534 shares at July 2, 2017 and 57,014,319 shares at March 31, 2017	570	571
Additional paid-in capital	1,755,119	1,752,903
Accumulated deficit	(91,381)	(108,033)
Accumulated other comprehensive loss	(107,178)	(112,992)
Common stock in treasury, at cost — 6,933,905 shares held at July 2, 2017 and 6,950,120 shares held at March 31, 2017	(286,497)	(287,384)
Total stockholders' equity	1,270,633	1,245,065
Total liabilities and stockholders' equity	$ 2,961,307	$ 2,976,747

CONDENSED CONSOLIDATED BALANCE5

CONDENSED CONSOLIDATED BALANCE SHEETS CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jul. 02, 2017	Mar. 31, 2017
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized shares	500,000,000	500,000,000
Common stock, issued shares	57,030,534	57,014,319
Common stock, outstanding shares	57,030,534	57,014,319
Common stock in treasury, shares	6,933,905	6,950,120

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jul. 02, 2017	Jul. 03, 2016
Operating Activities
Net income	$ 16,652	$ 29,124
Adjustments to net income to arrive at cash provided by (used for) operating activities:
Depreciation	13,552	13,676
Amortization of intangible assets	9,110	10,106
Amortization of deferred financing costs	728	2,172
Deferred income taxes	2	52
Loss on disposal of property, plant, and equipment	77	41
Stock-based compensation	3,357	3,310
Changes in assets and liabilities, net of acquisition of businesses:
Net receivables	(2,323)	(12,908)
Net inventories	17,550	(57,697)
Accounts payable	(20,953)	(33,196)
Accrued compensation	(2,559)	(19,322)
Accrued income taxes	8,423	14,396
Federal excise tax	(4,036)	737
Pension and other postretirement benefits	(4,841)	579
Other assets and liabilities	4,170	26,772
Cash provided by (used for) operating activities	38,909	(22,158)
Investing Activities:
Capital expenditures	(16,430)	(21,006)
Acquisition of businesses, net of cash acquired	0	(405,943)
Proceeds from the disposition of property, plant, and equipment	13	34
Cash used for investing activities	(16,417)	(426,915)
Financing Activities:
Borrowings on line of credit	145,000	115,000
Payments made on line of credit	(150,000)	(25,000)
Proceeds from issuance of long-term debt	0	307,500
Payments made on long-term debt	(8,000)	(8,000)
Payments made for debt issuance costs	(1,805)	(3,660)
Purchase of treasury shares	0	(22,058)
Proceeds from employee stock compensation plans	298	0
Cash provided by (used for) financing activities	(14,507)	363,782
Effect of foreign exchange rate fluctuations on cash	490	(401)
(Decrease) increase in cash and cash equivalents	8,475	(85,692)
Cash and cash equivalents at beginning of period	45,075	151,692
Cash and cash equivalents at end of period	53,550	66,000
Non-cash investing activity:
Capital expenditures included in accounts payable	5,598	2,065
Non-cash financing activity:
Treasury shares purchased included in other accrued liabilities	$ 0	$ 998

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (unaudited) - USD ($) $ in Thousands	Total	Common Stock $.01 Par Value	Additional Paid-In Capital	(Accumulated Deficit) Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock
Balance at Mar. 31, 2016	$ 1,660,167	$ 608	$ 1,743,371	$ 166,421	$ (110,214)	$ (140,019)
Balance (in shares) at Mar. 31, 2016		60,825,914
Increase (Decrease) in Stockholders' Equity
Comprehensive income (loss)	25,287			29,124	(3,837)
Restricted stock grants net of forfeitures	(104)		(141)			37
Restricted stock grants net of forfeitures (in shares)		(11,344)
Share-based compensation	3,310		3,310
Restricted stock vested and shares withheld	(619)		(71)			(548)
Restricted stock vested and shares withheld (in shares)		912
Treasury stock purchased	$ (22,277)					(22,277)
Treasury stock purchased (in shares)	(461,525)	(461,525)
Other	$ (5)	$ (5)	0			0
Other (in shares)		5,277
Balance at Jul. 03, 2016	1,665,759	$ 603	1,746,469	195,545	(114,051)	(162,807)
Balance (in shares) at Jul. 03, 2016		60,359,234
Balance at Mar. 31, 2017	1,245,065	$ 571	1,752,903	(108,033)	(112,992)	(287,384)
Balance (in shares) at Mar. 31, 2017		57,014,319
Increase (Decrease) in Stockholders' Equity
Comprehensive income (loss)	22,466			16,652	5,814
Exercise of stock options	298		(465)			763
Exercise of stock options (in shares)		18,476
Restricted stock grants net of forfeitures	(446)		(89)			(357)
Restricted stock grants net of forfeitures (in shares)		(16,286)
Share-based compensation	3,357		3,357
Restricted stock vested and shares withheld	$ (246)		$ (423)			$ 177
Restricted stock vested and shares withheld (in shares)		6,827
Employee stock purchase plan	139,000	6,510	(130,000)			269,000
Treasury stock purchased (in shares)	0
Other	$ 0	$ (1)	$ (34)			$ 35
Other (in shares)		688
Balance at Jul. 02, 2017	$ 1,270,633	$ 570	$ 1,755,119	$ (91,381)	$ (107,178)	$ (286,497)
Balance (in shares) at Jul. 02, 2017		57,030,534

CONDENSED CONSOLIDATED STATEME8

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (unaudited) (Parenthetical) - $ / shares	Jul. 02, 2017	Mar. 31, 2017
Statement of Stockholders' Equity [Abstract]
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01

Basis of Presentation and Respo

Basis of Presentation and Responsibility for Interim Financial Statements	3 Months Ended
	Jul. 02, 2017
Accounting Policies [Abstract]
Basis of Presentation and Responsibility for Interim Financial Statements	Basis of Presentation and Responsibility for Interim Financial Statements Nature of Operations. Vista Outdoor Inc. (together with our subsidiaries, "we", "our", and "us") is a leading global designer, manufacturer, and marketer of consumer products in the growing outdoor sports and recreation markets. We operate in two segments, Outdoor Products and Shooting Sports. Vista Outdoor is headquartered in Farmington, Utah and has manufacturing operations and facilities in 13 U.S. States, Canada, Mexico, and Puerto Rico along with international customer service, sales, and sourcing operations in Asia, Australia, Canada, and Europe. Vista Outdoor was incorporated in Delaware in 2014. This Quarterly Report on Form 10-Q should be read in conjunction with our consolidated and combined financial statements and notes included in our annual report on Form 10-K for the fiscal year ended March 31, 2017. Basis of Presentation. Our unaudited condensed consolidated financial statements have been prepared in accordance with the requirements of the Securities and Exchange Commission ("SEC") for interim reporting. As permitted under those rules, certain disclosures and other financial information that normally are required by accounting principles generally accepted in the United States can be condensed or omitted. Our accounting policies are described in the notes to the consolidated and combined financial statements in our Annual Report on Form 10-K for the fiscal year ended March 31, 2017 (“fiscal 2017”). Management is responsible for the condensed consolidated financial statements included in this document, which are unaudited but, in the opinion of management, include all adjustments necessary for a fair presentation of our financial position as of July 2, 2017 and March 31, 2017 , our results of operations and cash flows for the quarters ended July 2, 2017 and July 3, 2016 . New Accounting Pronouncements. On May 28, 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09 Revenue from Contracts with Customers (Topic 606), which supersedes existing revenue recognition requirements. The new guidance will be effective for the company in the first quarter of our fiscal 2019 (beginning April 1, 2018). We continue to assess the impact of the standard on our financial statements. We currently believe that the majority of our businesses and revenue streams will not be impacted; although there could be minor changes to the timing of recognition of revenues related to warranty and certain discount programs. We tentatively plan to adopt this standard using the modified retrospective transition method. Under this method, we will recognize the cumulative effect of the changes in retained earnings at the date of adoption, but will not restate prior periods. On February 25, 2016, the FASB issued ASU 2016-02, Leases . The new guidance was issued to increase transparency and comparability among companies by reporting most leases on the balance sheet and by expanding disclosure requirements. Based on the current effective dates, the new guidance would apply in the first quarter of our fiscal 2020. We are in the process of evaluating the effect of adoption on our financial statements. Other than those noted above and in our fiscal 2017 financial statements, there are no other new accounting pronouncements that are expected to have a significant impact on our condensed consolidated financial statements.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Jul. 02, 2017
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments The current authoritative guidance on fair value prescribes a framework for measuring fair value, establishes a fair value hierarchy based on the inputs used to measure fair value, and requires disclosures about the use of fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The valuation techniques required by the current authoritative literature are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect internal market assumptions. These two types of inputs create the following fair value hierarchy: Level 1—Quoted prices for identical instruments in active markets. Level 2—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. Level 3—Significant inputs to the valuation model are unobservable. The following section describes the valuation methodologies we used to measure our financial instruments at fair value. Long-term debt —The fair value of the variable-rate long-term debt is calculated based on current market rates for debt of the same risk and maturities. The fair value of the fixed-rate long-term debt is based on market quotes for the outstanding notes. We consider these to be Level 2 instruments. Interest rate swaps —We periodically enter into floating-to-fixed interest rate swap agreements in order to hedge our forecasted interest payments on our outstanding variable-rate debt. The fair value of those swaps is determined using a pricing model based on observable inputs for similar instruments and other market assumptions. We consider these to be Level 2 instruments. See Note 10 for further details. Contingent Consideration —The acquisition-related contingent consideration liability represents the estimated fair value of additional future earn-outs payable for acquisitions of businesses that included earn-out clauses. The valuation of the contingent consideration will be evaluated on an ongoing basis and is based on management estimates and entity-specific assumptions which are considered Level 3 inputs. As of July 2, 2017 , there was no value for the contingent consideration related to the Jimmy Styks acquisition. See Note 4 for further details. The following table presents our financial assets and liabilities that are not measured at fair value on a recurring basis. The carrying values and estimated fair values were as follows: July 2, 2017 March 31, 2017 Carrying Fair Carrying Fair Fixed-rate debt $ 350,000 $ 360,252 $ 350,000 $ 341,250 Variable-rate debt 770,000 770,000 783,000 783,000

Earnings Per Share

Earnings Per Share	3 Months Ended
	Jul. 02, 2017
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The computation of earnings per share ("EPS") includes Basic EPS computed based upon the weighted average number of common shares outstanding for each period. Diluted EPS is computed based on the weighted average number of common shares and common equivalent shares. Common equivalent shares represent the effect of stock-based awards during each period presented, which, if exercised or earned, would have a dilutive effect on EPS. In computing EPS for the quarters ended July 2, 2017 and July 3, 2016 , earnings, as reported for each respective period, is divided by: Quarter ended (in thousands) July 2, 2017 July 3, 2016 Basic EPS shares outstanding 56,916 60,384 Dilutive effect of stock-based awards 41 331 Diluted EPS shares outstanding 56,957 60,715 Shares excluded from the calculation of diluted EPS because the option exercise/threshold price was greater than the average market price of the common shares 358 71 Share Repurchases In fiscal 2015, our Board of Directors authorized a share repurchase program of up to $200,000 worth of shares of our common stock, which was completed during fiscal 2017. Our Board of Directors then authorized a new share repurchase program of up to $100,000 worth of our common stock, executable through March 31, 2018, which was completed during fiscal 2017. The purchase authorization allowed for the shares to be purchased from time to time in open market, block purchase, or negotiated transactions, subject to compliance with applicable laws and regulations. The repurchase authorization also allowed us to make repurchases under Rule 10b5-1 of the Securities Exchange Act of 1934. We had no repurchases of shares during the quarter ended July 2, 2017 . During the quarter ended July 3, 2016 , we repurchased 461,525 shares for $22,277 .

Acquisitions

Acquisitions	3 Months Ended
	Jul. 02, 2017
Business Acquisition [Line Items]
Acquisitions	Acquisitions In accordance with the accounting standards for business combinations, the results of acquired businesses are included in our consolidated condensed financial statements from the date of acquisition. The purchase price for each acquisition is allocated to the acquired assets and liabilities based on fair value. The excess purchase price over estimated fair value of the net assets acquired is recorded as goodwill. Acquisition of Camp Chef On September 1, 2016, we completed the acquisition of privately owned Logan Outdoor Products, LLC and Peak Trades, LLC ("Camp Chef"), a leading provider of outdoor cooking solutions. Under the terms of the transaction, we paid $60,000 subject to customary working capital adjustments, utilizing cash on hand and borrowings under our existing credit facility. An additional $4,000 has been deferred and will be paid in equal installments on the first, second and third anniversary of the closing date, and $10,000 will be payable if incremental profitability growth milestones are met and key members of Camp Chef management continue their employment with us. The $10,000 will be expensed over the three-year measurement period and paid at each milestone date. The preliminary purchase price allocation is subject to further refinement and may require significant adjustments to arrive at the final purchase price allocation. A majority of the goodwill generated in this acquisition will be deductible for tax purposes. Camp Chef is an immaterial acquisition to our company. Acquisition of Action Sports On April 1, 2016, we completed the acquisition of BRG Sports Inc.’s Action Sports division, operated by Bell Sports Corp. ("Action Sports"). The acquisition includes brands Bell, Giro, Blackburn, CoPilot, Krash, and Raskullz. Under the terms of the transaction, we paid $400,000 , subject to customary working capital adjustments, utilizing cash on hand and borrowings under our existing credit facilities, and additional contingent consideration payable if incremental profitability growth milestones within the Bell Powersports product line are achieved. We determined a value of the future contingent consideration as of the acquisition date of $4,272 , using a risk-neutral Monte Carlo simulation in an option pricing framework; the total amount paid may differ from this value. The option pricing model requires us to make assumptions including the risk-free rate, expected volatility, profitability growth, and expected life. The risk-free rate is based on U.S. Treasury zero-coupon issues with a remaining term that approximates the expected life assumed at the date of grant. The expected option life is based on the contractual term of the agreement. Expected volatility is based on the average volatility of similar public companies' stock over the past two years. The profitability growth is based on simulated estimates of future performance of the business using a geometric Brownian risk-neutral framework. As of July 2, 2017 , the value of the future contingent consideration was $4,886 . The increase from the original estimate was primarily a result of improved profitability forecasts over the remainder of the earnout period. Action Sports remains headquartered in Scotts Valley, California and operates facilities primarily in the U.S., Canada, and Asia. The acquisition of Action Sports includes more than 600 employees worldwide. The purchase price allocation was finalized in the fourth quarter of fiscal 2017. A portion of the goodwill generated in this acquisition will be deductible for tax purposes. Allocation of Consideration Transferred to Net Assets Acquired for Action Sports: The following amounts represent the final determination of the fair value of identifiable assets acquired and liabilities for our acquisition of Action Sports. The purchase price allocation was completed during the quarter ended March 31, 2017. Action Sports Final Purchase Price Allocation: April 1, 2016 Purchase price net of cash acquired: Cash paid $ 400,000 Estimated earnout value 4,272 Cash received for working capital (1,289 ) Total purchase price 402,983 Fair value of assets acquired: Receivables $ 78,090 Inventories 56,527 Tradename, customer relationship, and technology intangibles 155,100 Property, plant, and equipment 34,114 Other assets 6,425 Total assets 330,256 Fair value of liabilities assumed: Accounts payable 30,240 Deferred tax liabilities 43,991 Other liabilities 33,168 Total liabilities 107,399 Net assets acquired 222,857 Goodwill $ 180,126

Net Receivables

Net Receivables	3 Months Ended
	Jul. 02, 2017
Receivables [Abstract]
Net Receivables	Net Receivables Net receivables are summarized as follows: July 2, 2017 March 31, 2017 Trade receivables $ 477,080 $ 472,233 Other receivables 2,106 3,136 Less: allowance for doubtful accounts and discounts (24,397 ) (24,654 ) Net receivables $ 454,789 $ 450,715 As of July 2, 2017 and March 31, 2017 , Walmart represented 17% and 13% , respectively, of the total trade receivables balance. No other customer represented more than 10% of total trade receivables balance as of July 2, 2017 and March 31, 2017 .

Net Inventories

Net Inventories	3 Months Ended
	Jul. 02, 2017
Inventory Disclosure [Abstract]
Net Inventories	Net Inventories Net inventories consist of the following: July 2, 2017 March 31, 2017 Raw materials $ 103,862 $ 101,635 Work in process 47,212 51,004 Finished goods 391,806 410,156 Net inventories $ 542,880 $ 562,795 We consider inventories to be long term if they are not expected to be sold within one year. Long-term inventories are presented on the balance sheet within deferred charges and other non-current assets and totaled $27,949 and $23,504 as of July 2, 2017 and March 31, 2017 , respectively. The long-term inventories are recorded net of inventory reserves of $17,844 and $18,759 as of July 2, 2017 and March 31, 2017 , respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Jul. 02, 2017
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The components of AOCL, net of income taxes, are as follows: July 2, 2017 March 31, 2017 Pension and other postretirement benefits $ (59,709 ) $ (56,929 ) Derivatives 23 — Cumulative translation adjustment (47,492 ) (56,063 ) Total AOCL $ (107,178 ) $ (112,992 ) The following tables summarize the changes in the balance of AOCL, net of income tax: Quarter ended July 2, 2017 Derivatives Pension and other postretirement benefits Cumulative translation adjustment Total Beginning balance in AOCL $ — $ (56,929 ) $ (56,063 ) $ (112,992 ) Net actuarial losses reclassified from AOCL (1) — 1,122 — 1,122 Prior service costs reclassified from AOCL (1) (274 ) — (274 ) Valuation adjustment for pension and postretirement benefit plans (2) — (3,628 ) — (3,628 ) Net increase in fair value of derivatives 23 — — 23 Net change in cumulative translation adjustment — — 8,571 8,571 Ending balance in AOCL $ 23 $ (59,709 ) $ (47,492 ) $ (107,178 ) (1) Amounts related to our pension and other postretirement benefits that were reclassified from AOCL were recorded as a component of net periodic benefit cost for each period presented. (2) See Note 11 for a description of the pension curtailment gain recognized in the quarter ended July 2, 2017. Quarter ended July 3, 2016 Pension and other postretirement benefits Cumulative translation adjustment Total Beginning balance in AOCL $ (63,667 ) $ (46,547 ) $ (110,214 ) Net actuarial losses reclassified from AOCL (1) 1,236 — 1,236 Prior service costs reclassified from AOCL (1) (274 ) — (274 ) Net change in cumulative translation adjustment — (4,799 ) (4,799 ) Ending balance in AOCL $ (62,705 ) $ (51,346 ) $ (114,051 ) (1) Amounts related to our pension and other postretirement benefits that were reclassified from AOCL were recorded as a component of net periodic benefit cost for each period presented.

Goodwill and Net Intangible Ass

Goodwill and Net Intangible Assets	3 Months Ended
	Jul. 02, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Net Intangible Assets	Goodwill and Net Intangible Assets The changes in the carrying amount of goodwill by segment were as follows: Outdoor Products Shooting Sports Total Balance, March 31, 2017 $ 652,896 $ 204,735 $ 857,631 Effect of foreign currency exchange rates 3,331 152 3,483 Balance, July 2, 2017 $ 656,227 $ 204,887 $ 861,114 The goodwill recorded within the Outdoor Products segment is presented net of $401,706 of accumulated impairment losses of which $47,791 was recorded prior to fiscal 2015 and $353,915 was recorded in fiscal 2017. The goodwill recorded within the Shooting Sports segment is presented net of $41,020 of accumulated impairment losses, which were recorded in fiscal 2015. Net intangibles consisted of the following: July 2, 2017 March 31, 2017 Gross Accumulated Total Gross Accumulated Total Trade names $ 106,159 $ (18,986 ) $ 87,173 $ 106,159 $ (17,048 ) $ 89,111 Patented technology 19,066 (7,978 ) 11,088 19,066 (7,703 ) 11,363 Customer relationships and other 372,966 (85,355 ) 287,611 371,099 (78,010 ) 293,089 Total 498,191 (112,319 ) 385,872 496,324 (102,761 ) 393,563 Non-amortizing trade names 314,967 — 314,967 314,967 — 314,967 Net intangibles $ 813,158 $ (112,319 ) $ 700,839 $ 811,291 $ (102,761 ) $ 708,530 The assets in the table above are being amortized using a straight-line method over a weighted average remaining period of approximately 12.6 years . The amount of amortizing tradename and technology intangible assets for the Outdoor Products segment is presented net of a $61,054 impairment charge recorded in fiscal 2017. The amount of non-amortizing tradename intangible assets in the Outdoor Products and Shooting Sports segments are presented net of impairment losses of $34,230 recorded in fiscal 2017 and $11,200 recorded in fiscal 2015, respectively. Amortization expense for the quarters ended July 2, 2017 and July 3, 2016 was $9,110 and $10,106 , respectively. We expect amortization expense related to these assets to be as follows: Remainder of fiscal 2018 $ 27,666 Fiscal 2019 34,144 Fiscal 2020 33,317 Fiscal 2021 33,301 Fiscal 2022 33,293 Thereafter 224,151 Total $ 385,872

Other Current and Non-current L

Other Current and Non-current Liabilities	3 Months Ended
	Jul. 02, 2017
Other Liabilities Disclosure [Abstract]
Other Current and Non-current liabilities	Other Current and Non-current Liabilities Other current and non-current liabilities consisted of the following: July 2, 2017 March 31, 2017 Other current liabilities: Accrual for in-transit inventory $ 25,427 $ 17,505 Rebate 22,433 19,325 Other 82,162 86,096 Total other current liabilities $ 130,022 $ 122,926 Other non-current liabilities: Non-current portion of accrued income tax liability $ 33,469 $ 32,842 Other 37,891 38,204 Total other non-current liabilities $ 71,360 $ 71,046 We provide consumer warranties against manufacturing defects on certain products within the Outdoor Products and Shooting Sports segments with warranty periods ranging typically from one year to a lifetime. The estimated costs of such product warranties are recorded at the time the sale is recorded based upon actual past experience, our current production environment as well as specific and identifiable warranties as applicable. The warranty liability recorded at each balance sheet date reflects the estimated liability for warranty coverage for products delivered based on historical information and current trends. The following is a reconciliation of the changes in our product warranty liability during the period presented: Balance, March 31, 2017 $ 10,014 Payments made (915 ) Warranties issued 1,274 Changes related to preexisting warranties 89 Balance, July 2, 2017 $ 10,462

Long-term Debt

Long-term Debt	3 Months Ended
	Jul. 02, 2017
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt Long-term debt, including the current portion, consisted of the following: July 2, 2017 March 31, 2017 Credit Agreement: Term Loan $ 600,000 $ 608,000 Revolving Credit Facility 170,000 175,000 Total principal amount of Credit Agreement 770,000 783,000 5.875% Senior Notes 350,000 350,000 Principal amount of long-term debt 1,120,000 1,133,000 Less: unamortized deferred financing costs (12,825 ) (11,748 ) Carrying amount of long-term debt 1,107,175 1,121,252 Less: current portion (32,000 ) (32,000 ) Carrying amount of long-term debt, excluding current portion $ 1,075,175 $ 1,089,252 Credit Agreement On April 1, 2016, we entered into an Amended and Restated Credit Agreement (the “Credit Agreement”), which replaced our 2014 Credit Agreement. The Credit Agreement is comprised of a Term A Loan of $640,000 and a $400,000 Revolving Credit Facility, both of which mature on April 1, 2021. The Term A Loan is subject to quarterly principal payments of $8,000 , with the remaining balance due on April 1, 2021. Substantially all domestic tangible and intangible assets of Vista Outdoor and our subsidiaries, as well as the tangible and intangible assets of Advanced Arrow S. de R.L. de C.V. and Hydrosport, S. de R.L. de C.V., are pledged as collateral under the Credit Agreement. Borrowings under the Credit Agreement bear interest at a rate equal to either the sum of a base rate plus a specified margin or the sum of a Eurodollar rate plus a specified margin. Each margin is based on our consolidated leverage ratio, as defined in the Credit Agreement, and based on the ratio in effect as of July 2, 2017 , the base rate margin was 1.00% and the Eurodollar margin was 2.00% . The weighted average interest rate for our borrowings under the Credit Agreement as of July 2, 2017 was 3.22% , excluding the impact of the interest rate swaps that are discussed below. We pay a commitment fee on the unused portion of the Revolving Credit Facility based on our consolidated leverage ratio, and based on the current ratio, this fee is 0.35% . As of July 2, 2017 , we had $170,000 in borrowings against our $400,000 Revolving Credit Facility and had outstanding letters of credit of $25,854 , which reduced amounts available on the Revolving Credit Facility to $204,146 . Debt issuance costs of approximately $14,000 are being amortized over the term of the Credit Agreement. In December 2014, we entered into a credit agreement (the "2014 Credit Agreement"), which was comprised of a Term A Loan of $350,000 and a Revolving Credit Facility of $400,000 , both of which were to mature on February 9, 2020. During the quarter ended July 3, 2016, we refinanced this agreement as noted above. In connection with this transaction, we wrote off $1,521 of unamortized deferred debt issuance costs. During the quarter ended July 2, 2017, we entered into an amendment to the Credit Agreement (the "Amendment") to amend, among other things, certain financial covenants. The Amendment provides that the Consolidated Leverage Ratio (as defined in the Credit Agreement) must not exceed the following levels on the last day of any fiscal quarter for the following periods: (i) from July 2, 2017 through December 30, 2018, 4.75 to 1.00 ; (ii) from March 31, 2019 through December 29, 2019, 4.25 to 1.00 ; and (iii) from March 31, 2020 and thereafter, 4.00 to 1.00 . The Amendment also provides that the Consolidated Senior Secured Leverage Ratio (as defined in the Credit Agreement) must not exceed the following levels on the last day of any fiscal quarter for the following periods: (i) from July 2, 2017 through December 30, 2018, 3.50 to 1.00 ; and (ii) from March 31, 2019 and thereafter, 3.00 to 1.00. In addition, the limitation on Restricted Payments (as defined in the Credit Agreement) was amended so that it is equal to $150,000 plus proceeds of any equity issuances plus 50% of net income since April 1, 2017. The rate at which borrowings under the Revolving Credit Facility and Term A Loan bear interest was also amended so that borrowings bear interest at a rate equal to either the sum of a base rate plus a margin ranging from 0.50% to 1.50% , or the sum of a Eurodollar rate plus a margin ranging from 1.50% to 2.50% , with both margins varying depending on our Consolidated Leverage Ratio. We are also required to continue to pay a commitment fee for unused commitments under the Revolving Credit Facility, if any, at a rate ranging from 0.25% to 0.45% per annum depending on our Consolidated Leverage Ratio. Debt issuance costs related to the Amendment of approximately $1,800 are being amortized over the remaining term of the Credit Agreement. 5.875% Notes On August 11, 2015, we issued $350,000 aggregate principal amount of 5.875% Senior Notes (the "5.875% Notes") that mature on October 1, 2023. These notes are unsecured and senior obligations. Interest on these notes is payable semi-annually in arrears on April 1 and October 1 of each year, starting on April 1, 2016. We have the right to redeem some or all of these notes from time to time on or after October 1, 2018, at specified redemption prices. Prior to October 1, 2018, we may redeem some or all of these notes at a price equal to 100% of their principal amount plus accrued and unpaid interest to the date of redemption and a specified make-whole premium. In addition, prior to October 1, 2018, we may redeem up to 35% of the aggregate principal amount of these notes with the net cash proceeds of certain equity offerings, at a price equal to 105.875% of their principal amount plus accrued and unpaid interest to the date of redemption. Debt issuance costs of approximately $4,300 are being amortized to interest expense over 8 years, the term of the notes. Rank and Guarantees The Credit Agreement obligations are guaranteed on a secured basis, jointly and severally and fully and unconditionally by substantially all of our domestic subsidiaries and by Advanced Arrow S. de R.L. de C.V. and Hydrosport, S. de R.L. de C.V.. Vista Outdoor (the parent company issuer) has no independent assets or operations. We own 100% of all of these guarantor subsidiaries. The 5.875% Notes are senior unsecured obligations and will rank equally in right of payment with any future senior unsecured indebtedness and senior in right of payment to any future subordinated indebtedness. The 5.875% Notes are fully and unconditionally guaranteed, jointly and severally, by our existing and future domestic subsidiaries that guarantee indebtedness under our Credit Agreement or that guarantee certain of our other indebtedness, or indebtedness of any subsidiary guarantor, in an aggregate principal amount in excess of $50,000 . These guarantees are senior unsecured obligations of the applicable subsidiary guarantors. The guarantee by any subsidiary guarantor of our obligations in respect of the 5.875% Notes will be released in any of the following circumstances: • if, as a result of the sale of its capital stock, such subsidiary guarantor ceases to be a restricted subsidiary; • if such subsidiary guarantor is designated as an “Unrestricted Subsidiary;” • upon defeasance or satisfaction and discharge of the 5.875% Notes; or • if such subsidiary guarantor has been released from its guarantees of indebtedness under the Credit Agreement and all capital markets debt securities. Interest Rate Swaps During the quarter ended July 2, 2017, we entered into floating-to-fixed interest rate swap agreements in order to hedge our forecasted interest payments on our outstanding variable-rate debt. At July 2, 2017, we had the following cash flow hedge interest rate swaps in place: Notional Fair Value Pay Fixed Receive Floating Maturity Date Non-amortizing swap $ 100,000 $ 2 1.519% 1.226% June 2019 Non-amortizing swap 100,000 35 1.629% 1.226% June 2020 The amount to be paid or received under these swaps is recorded as an adjustment to interest expense. Cash Paid for Interest on Debt Cash paid for interest on debt, including commitment fees, for the quarters ended July 2, 2017 and July 3, 2016 totaled $16,197 and $17,236 , respectively.

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Jul. 02, 2017
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans The expense for employee benefit plans for the quarters ended July 2, 2017 and July 3, 2016 was $1,431 and $1,690 , respectively. In addition to the employee benefit expense for the quarter ended July 2, 2017, we recognized a one-time gain of $5,783 associated with the pension curtailment, as discussed below. In aggregate, we recorded a net gain of $4,352 and an expense of $1,690 for the employee benefit plans during the quarters ended July 2, 2017 and July 3, 2016 , respectively. Employer Contributions. During the quarter ended July 2, 2017 , we made the legally required contribution of $1,600 directly to the pension trust, and no contributions to our other postretirement benefit plans. We made no distributions directly to retirees under the non-qualified supplemental executive retirement plan. During the quarter ended July 3, 2016 , we contributed $1,100 directly to the pension trust, made no contributions to our other postretirement benefit plans, and made distributions of $12 to retirees under the non-qualified supplemental executive retirement plan. We expect to make $7,200 in additional contributions directly to the pension trust, and we expect to contribute approximately $159 to our other postretirement benefit plans, and distribute approximately $11,125 directly to retirees under our non-qualified supplemental executive retirement plans, during the remainder of fiscal 2018 . Pension Curtailment. In June 2017, we announced changes to our qualified and non-qualified defined benefit pension plans. The benefits under the affected plans are determined by a cash balance formula that provides participating employees with an annual “pay credit” as a percentage of their eligible pay based on their age and eligible service. The curtailment is effective July 31, 2017, with employees receiving a pro-rated pay credit for 2017 and no future pay credits beginning in 2018. However, a participating employee’s benefit will continue to grow based on annual interest credits applied to the employee’s cash balance account until commencement of the employee’s benefit. As a result of the changes, we recognized a one-time gain of $5,783 during the quarter ended July 2, 2017 .

Income Taxes

Income Taxes	3 Months Ended
	Jul. 02, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Our provision for income taxes includes federal, foreign, and state income taxes. Income tax provisions for interim periods are based on estimated effective annual income tax rates. The income tax provisions for the quarters ended July 2, 2017 and July 3, 2016 represent effective tax rates of 38.2% and 38.2% , respectively. There was no change in the rate from the prior year quarter because of nondeductible acquisition costs in the prior year being offset by lower deductions in the current year related to stock based compensation. We entered into a Tax Matters Agreement with Orbital ATK that governs the respective rights, responsibilities and obligations of Vista Outdoor and Orbital ATK after the distribution of all of the shares of our common stock on a pro rata basis to the holders of Alliant Techsystems Inc. common stock (the “Spin-Off”) with respect to tax liabilities and benefits, tax attributes, tax contests and other tax sharing regarding U.S. federal, state, local and foreign income taxes, other tax matters and related tax returns. We have joint and several liability with Orbital ATK to the IRS for the consolidated U.S. federal income taxes of the Orbital ATK consolidated group relating to the taxable periods in which we were part of that group. However, the Tax Matters Agreement specifies the portion, if any, of this tax liability for which we bear responsibility, and Orbital ATK agrees to indemnify us against any amounts for which we are not responsible. The Tax Matters Agreement also provides special rules for allocating tax liabilities in the event that the Spin-Off is determined not to be tax-free. Though valid as between the parties, the Tax Matters Agreement is not binding on the IRS. Prior to the Spin-Off, Orbital ATK or one of its subsidiaries filed income tax returns in the U.S. federal and various U.S. state jurisdictions which included Vista Outdoor. In addition, certain of our subsidiaries filed income tax returns in foreign jurisdictions. After the Spin-Off we are filing income tax returns in the U.S. federal, foreign and various U.S. state jurisdictions. With a few exceptions, Orbital ATK and its subsidiaries and Vista are no longer subject to U.S. federal, state and local, or foreign income tax examinations by tax authorities prior to 2010. The IRS has completed the audits of Orbital ATK through fiscal 2014 and is currently auditing Orbital ATK's tax return for fiscal 2015. The IRS is also currently auditing our tax return for the period that begins after the Spin-Off (February 9, 2015) and ends on March 31, 2015. We believe appropriate provisions for all outstanding issues relating to our portion of these returns have been made for all remaining open years in all jurisdictions. Although the timing and outcome of audit settlements are uncertain, it is reasonably possible that a $2,681 reduction of the uncertain tax benefits will occur in the next 12 months. The settlement of these unrecognized tax benefits could result in earnings from $0 to $1,776 .

Contingencies

Contingencies	3 Months Ended
	Jul. 02, 2017
Loss Contingency [Abstract]
Contingencies	Contingencies Litigation. From time to time, we are subject to various legal proceedings, including lawsuits, which arise out of, and are incidental to, the conduct of our business. We do not consider any of such proceedings that are currently pending, individually or in the aggregate to be material to our business or likely to result in a material adverse effect on our operating results, financial condition, or cash flows. Environmental Liabilities. Our operations and ownership or use of real property are subject to a number of federal, state, and local environmental laws and regulations, as well as applicable foreign laws and regulations, including those governing the discharge of hazardous materials, remediation of contaminated sites, and restoration of damage to the environment. We are obligated to conduct investigation and/or remediation activities at certain sites that we own or operate or formerly owned or operated. We have been identified as a potentially responsible party (“PRP”), along with other parties, in regulatory agency actions associated with hazardous waste sites. As a PRP, we may be required to pay a share of the costs of the investigation and clean-up of these sites. While uncertainties exist with respect to the amounts and timing of the ultimate environmental liabilities, based on currently available information, we have concluded that these matters, individually or in the aggregate, will not have a material adverse effect on our operating results, financial condition, or cash flows. We have recorded a liability for environmental remediation of $747 and $750 as of July 2, 2017 and March 31, 2017 , respectively. We could incur substantial additional costs, including cleanup costs, resource restoration, fines, and penalties or third-party property damage or personal injury claims, as a result of violations or liabilities under environmental laws or non-compliance with environmental permits. While environmental laws and regulations have not had a material adverse effect on our operating results, financial condition, or cash flows in the past, and we have environmental management programs in place to mitigate these risks, it is difficult to predict whether they will have a material impact in the future.

Condensed Consolidating Financi

Condensed Consolidating Financial Statements (Notes)	3 Months Ended
	Jul. 02, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidating Financial Statements	Condensed Consolidating Financial Statements The 5.875% Notes are guaranteed on an unsecured basis, jointly and severally and fully and unconditionally by substantially all of our domestic subsidiaries and by Advanced Arrow S. de R.L. de C.V. and Hydrosport, S. de R.L. de C.V. The parent company has no independent assets or operations. All of these guarantor subsidiaries are 100% owned by Vista Outdoor. These guarantees are senior or senior subordinated obligations, as applicable, of the applicable subsidiary guarantors. In conjunction with the registration of the 5.875% Notes the consolidating financial information of the guarantor and non-guarantor subsidiaries is presented on the following pages. The guarantee by any subsidiary guarantor of our obligations in respect of the 5.875% Notes will be released in any of the following circumstances: • if, as a result of the sale of its capital stock, such subsidiary guarantor ceases to be a restricted subsidiary; • if such subsidiary guarantor is designated as an “Unrestricted Subsidiary;” • upon defeasance or satisfaction and discharge of the 5.875% Notes; or • if such subsidiary guarantor has been released from its guarantees of indebtedness under the Credit Agreement and all capital markets debt securities. VISTA OUTDOOR INC. CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (unaudited) Quarter ended July 2, 2017 (Amounts in thousands) Parent Issuer Guarantors Non-Guarantors Eliminations Consolidated Sales, net $ — $ 539,559 $ 50,697 $ (21,507 ) $ 568,749 Cost of sales — 410,957 33,229 (21,995 ) 422,191 Gross profit — 128,602 17,468 488 146,558 Operating expenses: Research and development — 7,791 — — 7,791 Selling, general, and administrative — 87,296 12,130 — 99,426 Income before interest and income taxes — 33,515 5,338 488 39,341 Equity in income of subsidiaries 24,399 3,965 — (28,364 ) — Interest expense, net (12,393 ) — — — (12,393 ) Income before income taxes 12,006 37,480 5,338 (27,876 ) 26,948 Income tax provision (benefit) (4,646 ) 13,081 1,706 155 10,296 Net income $ 16,652 $ 24,399 $ 3,632 $ (28,031 ) $ 16,652 Other comprehensive income, net of tax: Net income (from above) $ 16,652 $ 24,399 $ 3,632 $ (28,031 ) $ 16,652 Total other comprehensive income 5,814 5,814 8,571 (14,385 ) 5,814 Comprehensive income $ 22,466 $ 30,213 $ 12,203 $ (42,416 ) $ 22,466 VISTA OUTDOOR INC. CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (unaudited) Quarter ended July 3, 2016 (Amounts in thousands) Parent Issuer Guarantors Non-Guarantors Eliminations Consolidated Sales, net $ — $ 599,314 $ 54,594 $ (23,639 ) $ 630,269 Cost of sales — 445,549 36,742 (23,399 ) 458,892 Gross profit — 153,765 17,852 (240 ) 171,377 Operating expenses: Research and development — 7,831 — — 7,831 Selling, general, and administrative — 90,616 13,828 — 104,444 Income before interest and income taxes — 55,318 4,024 (240 ) 59,102 Equity in income of subsidiaries 36,601 2,459 — (39,060 ) — Interest expense, net (11,963 ) — — — (11,963 ) Income before income taxes 24,638 57,777 4,024 (39,300 ) 47,139 Income tax provision (benefit) (4,486 ) 21,176 1,408 (83 ) 18,015 Net income $ 29,124 $ 36,601 $ 2,616 $ (39,217 ) $ 29,124 Other comprehensive income (loss), net of tax: Net income (from above) $ 29,124 $ 36,601 $ 2,616 $ (39,217 ) $ 29,124 Total other comprehensive (loss) (3,837 ) (3,837 ) (4,799 ) 8,636 (3,837 ) Comprehensive income (loss) $ 25,287 $ 32,764 $ (2,183 ) $ (30,581 ) $ 25,287 VISTA OUTDOOR INC. CONDENSED CONSOLIDATED BALANCE SHEET (unaudited) July 2, 2017 (Amounts in thousands) Parent Issuer Guarantors Non-Guarantors Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ — $ 30,596 $ 22,954 $ — $ 53,550 Net receivables — 412,794 41,995 — 454,789 Due from affiliates, current — 1,027 — (1,027 ) — Net inventories — 491,742 55,660 (4,522 ) 542,880 Income tax receivable — 12,991 1,640 3,313 17,944 Other current assets — 24,038 2,601 — 26,639 Total current assets — 973,188 124,850 (2,236 ) 1,095,802 Net property, plant, and equipment — 263,280 9,493 — 272,773 Investment in subsidiaries 2,571,297 204,266 — (2,775,563 ) — Goodwill — 749,898 111,216 — 861,114 Net intangible assets — 668,165 32,674 — 700,839 Long-term due from affiliates — 235,466 — (235,466 ) — Deferred charges and other non-current assets — 24,869 5,910 — 30,779 Total assets $ 2,571,297 $ 3,119,132 $ 284,143 $ (3,013,265 ) $ 2,961,307 LIABILITIES AND EQUITY Current liabilities: Current portion of long-term debt $ 32,000 $ — $ — $ — $ 32,000 Accounts payable — 95,138 6,960 — 102,098 Due to affiliates, current — — 1,027 (1,027 ) — Accrued compensation — 28,817 2,956 — 31,773 Federal excise tax — 24,318 1,774 — 26,092 Other accrued liabilities — 115,921 14,101 — 130,022 Total current liabilities 32,000 264,194 26,818 (1,027 ) 321,985 Long-term debt 1,075,175 — — — 1,075,175 Deferred income tax liabilities — 150,452 7,336 1,656 159,444 Accrued pension and postemployment benefits — 62,710 — — 62,710 Long-term due to affiliates 193,489 — 41,977 (235,466 ) — Other long-term liabilities — 69,688 1,672 — 71,360 Total liabilities 1,300,664 547,044 77,803 (234,837 ) 1,690,674 Equity Total stockholders' equity 1,270,633 2,572,088 206,340 (2,778,428 ) 1,270,633 Total liabilities and stockholders' equity $ 2,571,297 $ 3,119,132 $ 284,143 $ (3,013,265 ) $ 2,961,307 VISTA OUTDOOR INC. CONDENSED CONSOLIDATED BALANCE SHEET (unaudited) March 31, 2017 (Amounts in thousands) Parent Issuer Guarantors Non-Guarantors Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ — $ 23,027 $ 22,048 $ — $ 45,075 Net receivables — 409,177 41,538 — 450,715 Due from affiliates, current — 1,787 — (1,787 ) — Net inventories — 510,754 57,050 (5,009 ) 562,795 Income tax receivable — 22,394 1,303 1,961 25,658 Other current assets — 23,177 2,427 — 25,604 Total current assets — 990,316 124,366 (4,835 ) 1,109,847 Net property, plant, and equipment — 262,711 9,635 — 272,346 Investment in subsidiaries 2,552,948 196,547 — (2,749,495 ) — Goodwill — 749,898 107,733 — 857,631 Net intangible assets — 676,576 31,954 — 708,530 Long-term due from affiliates — 230,669 — (230,669 ) — Deferred charges and other non-current assets — 23,482 4,911 — 28,393 Total assets $ 2,552,948 $ 3,130,199 $ 278,599 $ (2,984,999 ) $ 2,976,747 LIABILITIES AND EQUITY Current liabilities: Current portion of long-term debt $ 32,000 $ — $ — $ — $ 32,000 Accounts payable — 117,650 10,068 — 127,718 Due to affiliates, current — — 1,787 (1,787 ) — Accrued compensation — 30,173 3,490 — 33,663 Federal excise tax — 29,042 1,040 — 30,082 Other accrued liabilities — 110,321 12,605 — 122,926 Total current liabilities 32,000 287,186 28,990 (1,787 ) 346,389 Long-term debt 1,089,252 — — — 1,089,252 Deferred income tax liabilities — 153,636 6,979 150 160,765 Accrued pension and postemployment benefits — 64,230 — — 64,230 Long-term due to affiliates 186,631 — 44,038 (230,669 ) — Other long-term liabilities — 69,384 1,662 — 71,046 Total liabilities 1,307,883 574,436 81,669 (232,306 ) 1,731,682 Equity Total stockholders' equity 1,245,065 2,555,763 196,930 (2,752,693 ) 1,245,065 Total liabilities and stockholders' equity $ 2,552,948 $ 3,130,199 $ 278,599 $ (2,984,999 ) $ 2,976,747 VISTA OUTDOOR INC. CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (unaudited) Quarter ended July 2, 2017 (Amounts in thousands) Parent Issuer Guarantors Non-Guarantors Eliminations Consolidated Operating Activities: Cash provided by (used for) operating activities $ (7,018 ) $ 40,269 $ 5,658 $ — $ 38,909 Investing Activities: Capital expenditures — (16,248 ) (182 ) — (16,430 ) Due from affiliates — (16,452 ) — 16,452 — Acquisition of businesses, net of cash acquired — — — — — Proceeds from the disposition of property, plant, and equipment — — 13 — 13 Cash provided by (used for) investing activities — (32,700 ) (169 ) 16,452 (16,417 ) Financing Activities: Due to affiliates 21,525 — (5,073 ) (16,452 ) — Borrowings on line of credit 145,000 — — — 145,000 Payments made on line of credit (150,000 ) — — — (150,000 ) Payments made on long-term debt (8,000 ) — — — (8,000 ) Payments made for debt issuance costs (1,805 ) — — — (1,805 ) Proceeds from employee stock compensation plans 298 — — — 298 Cash provided by (used for) financing activities 7,018 — (5,073 ) (16,452 ) (14,507 ) Effect of foreign exchange rate fluctuations on cash — — 490 — 490 Increase in cash and cash equivalents — 7,569 906 — 8,475 Cash and cash equivalents at beginning of period — 23,027 22,048 — 45,075 Cash and cash equivalents at end of period $ — $ 30,596 $ 22,954 $ — $ 53,550 VISTA OUTDOOR INC. CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (unaudited) Quarter ended July 3, 2016 (Amounts in thousands) Parent Issuer Guarantors Non-Guarantors Eliminations Consolidated Operating Activities: Cash provided by (used for) operating activities $ (5,830 ) $ (17,028 ) $ 700 $ — $ (22,158 ) Investing Activities: Capital expenditures — (20,179 ) (827 ) — (21,006 ) Due from affiliates — (51,322 ) — 51,322 — Acquisition of businesses, net of cash acquired (409,558 ) 3,228 387 — (405,943 ) Proceeds from the disposition of property, plant, and equipment — 22 12 — 34 Cash used for investing activities (409,558 ) (68,251 ) (428 ) 51,322 (426,915 ) Financing Activities: Due to affiliates 51,606 — (284 ) (51,322 ) — Borrowings on line of credit 115,000 — — — 115,000 Payments made on line of credit (25,000 ) — — — (25,000 ) Proceeds from issuance of long-term debt 307,500 — — — 307,500 Payments made on long-term debt (8,000 ) — — — (8,000 ) Payments made for debt issuance costs (3,660 ) — — — (3,660 ) Purchase of treasury shares (22,058 ) — — — (22,058 ) Cash provided by (used for) financing activities 415,388 — (284 ) (51,322 ) 363,782 Effect of foreign exchange rate fluctuations on cash — — (401 ) — (401 ) (Decrease) increase in cash and cash equivalents — (85,279 ) (413 ) — (85,692 ) Cash and cash equivalents at beginning of period — 133,503 18,189 — 151,692 Cash and cash equivalents at end of period $ — $ 48,224 $ 17,776 $ — $ 66,000

Operating Segment Information (

Operating Segment Information (Notes)	3 Months Ended
	Jul. 02, 2017
Segment Reporting [Abstract]
Operating Segment Information	Operating Segment Information We operate our business structure within two operating segments, which are defined based on the reporting and review process used by the chief operating decision maker, our Chief Executive Officer. Management reviews the operating segments based on net sales and gross profit. Certain significant selling and general and administrative expenses are not allocated to the segments. In addition, certain significant asset balances are not readily identifiable with individual segments and therefore cannot be allocated. It is impractical to report revenues from external customers by product category due to certain significant sales deductions including volume rebates and discounts that are not attributed to product categories. Each segment is described below: • Outdoor Products, which generated 51% of our external sales in the quarter ended July 2, 2017 . The Outdoor Products product lines are action sports, archery/hunting accessories, camping, global eyewear and sport protection products, golf, hydration products, optics, shooting accessories, tactical products and water sports. Action sports includes helmets, goggles, and accessories for cycling, snow sports, action sports and powersports. Archery/hunting accessories include high-performance hunting arrows, game calls, hunting blinds, game cameras and waterfowl decoys. Camping products include our outdoor cooking solutions. Eyewear and sport protection products include safety and protective eyewear, as well as fashion and sports eyewear. Golf products include laser rangefinders. Hydration products include hydration packs and water bottles. Optics products include binoculars, riflescopes and telescopes. Shooting accessories products include reloading equipment, clay targets, and premium gun care products. Tactical products include holsters, duty gear, bags and packs. Water sports products include stand up paddle boards. • Shooting Sports, which generated 49% of our external sales in the quarter ended July 2, 2017 . Shooting Sports product lines include centerfire ammunition, rimfire ammunition, shotshell ammunition, reloading components, and firearms. Walmart contributed 15% and 14% of our sales in the quarters ended July 2, 2017 and July 3, 2016 , respectively. No other single customer contributed 10% or more of our sales in the quarters ended July 2, 2017 and July 3, 2016 . The following summarizes our results by segment: Quarter ended July 2, 2017 July 3, 2016 Sales to external customers: Outdoor Products $ 289,983 $ 287,465 Shooting Sports 278,766 342,804 Total sales to external customers $ 568,749 $ 630,269 Gross Profit Outdoor Products $ 76,510 $ 80,897 Shooting Sports 70,318 90,834 Corporate (270 ) (354 ) Total gross profit $ 146,558 $ 171,377 The sales above exclude intercompany sales between Outdoor Products and Shooting Sports of $861 and $1,117 for the quarters ended July 2, 2017 and July 3, 2016 , respectively.

Subsequent Events (Notes)

Subsequent Events (Notes)	3 Months Ended
	Jul. 02, 2017
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events With the retirement of Chairman and CEO, Mark DeYoung, from the Company and the Board of Directors, the Board of Directors elected Michael Callahan, Vista Outdoor's then Lead Independent Director, to serve as interim Chairman and Chief Executive Officer effective July 11, 2017. On August 1, 2017, the independent members of the Board appointed Ambassador April H. Foley as lead independent director.

Basis of Presentation and Res25

Basis of Presentation and Responsibility for Interim Financial Statements (Policies)	3 Months Ended
	Jul. 02, 2017
Accounting Policies [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements. On May 28, 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09 Revenue from Contracts with Customers (Topic 606), which supersedes existing revenue recognition requirements. The new guidance will be effective for the company in the first quarter of our fiscal 2019 (beginning April 1, 2018). We continue to assess the impact of the standard on our financial statements. We currently believe that the majority of our businesses and revenue streams will not be impacted; although there could be minor changes to the timing of recognition of revenues related to warranty and certain discount programs. We tentatively plan to adopt this standard using the modified retrospective transition method. Under this method, we will recognize the cumulative effect of the changes in retained earnings at the date of adoption, but will not restate prior periods. On February 25, 2016, the FASB issued ASU 2016-02, Leases . The new guidance was issued to increase transparency and comparability among companies by reporting most leases on the balance sheet and by expanding disclosure requirements. Based on the current effective dates, the new guidance would apply in the first quarter of our fiscal 2020. We are in the process of evaluating the effect of adoption on our financial statements. Other than those noted above and in our fiscal 2017 financial statements, there are no other new accounting pronouncements that are expected to have a significant impact on our condensed consolidated financial statements.

Fair Value of Financial Instr26

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Jul. 02, 2017
Fair Value Disclosures [Abstract]
Schedule of carrying values and estimated fair values of assets and liabilities that are not measured on a recurring basis	The following table presents our financial assets and liabilities that are not measured at fair value on a recurring basis. The carrying values and estimated fair values were as follows: July 2, 2017 March 31, 2017 Carrying Fair Carrying Fair Fixed-rate debt $ 350,000 $ 360,252 $ 350,000 $ 341,250 Variable-rate debt 770,000 770,000 783,000 783,000

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Jul. 02, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	In computing EPS for the quarters ended July 2, 2017 and July 3, 2016 , earnings, as reported for each respective period, is divided by: Quarter ended (in thousands) July 2, 2017 July 3, 2016 Basic EPS shares outstanding 56,916 60,384 Dilutive effect of stock-based awards 41 331 Diluted EPS shares outstanding 56,957 60,715 Shares excluded from the calculation of diluted EPS because the option exercise/threshold price was greater than the average market price of the common shares 358 71

Net Receivables (Tables)

Net Receivables (Tables)	3 Months Ended
	Jul. 02, 2017
Receivables [Abstract]
Schedule of receivables, including amounts due under long-term contracts (contract receivables)	Net receivables are summarized as follows: July 2, 2017 March 31, 2017 Trade receivables $ 477,080 $ 472,233 Other receivables 2,106 3,136 Less: allowance for doubtful accounts and discounts (24,397 ) (24,654 ) Net receivables $ 454,789 $ 450,715

Net Inventories (Tables)

Net Inventories (Tables)	3 Months Ended
	Jul. 02, 2017
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Net inventories consist of the following: July 2, 2017 March 31, 2017 Raw materials $ 103,862 $ 101,635 Work in process 47,212 51,004 Finished goods 391,806 410,156 Net inventories $ 542,880 $ 562,795

Accumulated Other Comprehensi30

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Jul. 02, 2017
Equity [Abstract]
Schedule of components of AOCL, net of income taxes	The components of AOCL, net of income taxes, are as follows: July 2, 2017 March 31, 2017 Pension and other postretirement benefits $ (59,709 ) $ (56,929 ) Derivatives 23 — Cumulative translation adjustment (47,492 ) (56,063 ) Total AOCL $ (107,178 ) $ (112,992 )
Schedule of net of income tax activity in AOCL	The following tables summarize the changes in the balance of AOCL, net of income tax: Quarter ended July 2, 2017 Derivatives Pension and other postretirement benefits Cumulative translation adjustment Total Beginning balance in AOCL $ — $ (56,929 ) $ (56,063 ) $ (112,992 ) Net actuarial losses reclassified from AOCL (1) — 1,122 — 1,122 Prior service costs reclassified from AOCL (1) (274 ) — (274 ) Valuation adjustment for pension and postretirement benefit plans (2) — (3,628 ) — (3,628 ) Net increase in fair value of derivatives 23 — — 23 Net change in cumulative translation adjustment — — 8,571 8,571 Ending balance in AOCL $ 23 $ (59,709 ) $ (47,492 ) $ (107,178 ) (1) Amounts related to our pension and other postretirement benefits that were reclassified from AOCL were recorded as a component of net periodic benefit cost for each period presented. (2) See Note 11 for a description of the pension curtailment gain recognized in the quarter ended July 2, 2017. Quarter ended July 3, 2016 Pension and other postretirement benefits Cumulative translation adjustment Total Beginning balance in AOCL $ (63,667 ) $ (46,547 ) $ (110,214 ) Net actuarial losses reclassified from AOCL (1) 1,236 — 1,236 Prior service costs reclassified from AOCL (1) (274 ) — (274 ) Net change in cumulative translation adjustment — (4,799 ) (4,799 ) Ending balance in AOCL $ (62,705 ) $ (51,346 ) $ (114,051 ) (1) Amounts related to our pension and other postretirement benefits that were reclassified from AOCL were recorded as a component of net periodic benefit cost for each period presented.

Goodwill and Net Intangible A31

Goodwill and Net Intangible Assets (Tables)	3 Months Ended
	Jul. 02, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in the carrying amount of goodwill by segment	The changes in the carrying amount of goodwill by segment were as follows: Outdoor Products Shooting Sports Total Balance, March 31, 2017 $ 652,896 $ 204,735 $ 857,631 Effect of foreign currency exchange rates 3,331 152 3,483 Balance, July 2, 2017 $ 656,227 $ 204,887 $ 861,114
Schedule of net intangibles	Net intangibles consisted of the following: July 2, 2017 March 31, 2017 Gross Accumulated Total Gross Accumulated Total Trade names $ 106,159 $ (18,986 ) $ 87,173 $ 106,159 $ (17,048 ) $ 89,111 Patented technology 19,066 (7,978 ) 11,088 19,066 (7,703 ) 11,363 Customer relationships and other 372,966 (85,355 ) 287,611 371,099 (78,010 ) 293,089 Total 498,191 (112,319 ) 385,872 496,324 (102,761 ) 393,563 Non-amortizing trade names 314,967 — 314,967 314,967 — 314,967 Net intangibles $ 813,158 $ (112,319 ) $ 700,839 $ 811,291 $ (102,761 ) $ 708,530
Schedule of expected future amortization expense	We expect amortization expense related to these assets to be as follows: Remainder of fiscal 2018 $ 27,666 Fiscal 2019 34,144 Fiscal 2020 33,317 Fiscal 2021 33,301 Fiscal 2022 33,293 Thereafter 224,151 Total $ 385,872

Other Current and Non-current32

Other Current and Non-current Liabilities (Tables)	3 Months Ended
	Jul. 02, 2017
Other Liabilities Disclosure [Abstract]
Schedule of major categories of other current and non-current liabilities	Other current and non-current liabilities consisted of the following: July 2, 2017 March 31, 2017 Other current liabilities: Accrual for in-transit inventory $ 25,427 $ 17,505 Rebate 22,433 19,325 Other 82,162 86,096 Total other current liabilities $ 130,022 $ 122,926 Other non-current liabilities: Non-current portion of accrued income tax liability $ 33,469 $ 32,842 Other 37,891 38,204 Total other non-current liabilities $ 71,360 $ 71,046
Schedule of reconciliation of the changes in product warranty liability	The following is a reconciliation of the changes in our product warranty liability during the period presented: Balance, March 31, 2017 $ 10,014 Payments made (915 ) Warranties issued 1,274 Changes related to preexisting warranties 89 Balance, July 2, 2017 $ 10,462

Long-term Debt (Tables)

Long-term Debt (Tables)	3 Months Ended
	Jul. 02, 2017
Debt Disclosure [Abstract]
Schedule of long-term debt, including the current portion	Long-term debt, including the current portion, consisted of the following: July 2, 2017 March 31, 2017 Credit Agreement: Term Loan $ 600,000 $ 608,000 Revolving Credit Facility 170,000 175,000 Total principal amount of Credit Agreement 770,000 783,000 5.875% Senior Notes 350,000 350,000 Principal amount of long-term debt 1,120,000 1,133,000 Less: unamortized deferred financing costs (12,825 ) (11,748 ) Carrying amount of long-term debt 1,107,175 1,121,252 Less: current portion (32,000 ) (32,000 ) Carrying amount of long-term debt, excluding current portion $ 1,075,175 $ 1,089,252
Schedule of Interest Rate Derivatives [Table Text Block]	Interest Rate Swaps During the quarter ended July 2, 2017, we entered into floating-to-fixed interest rate swap agreements in order to hedge our forecasted interest payments on our outstanding variable-rate debt. At July 2, 2017, we had the following cash flow hedge interest rate swaps in place: Notional Fair Value Pay Fixed Receive Floating Maturity Date Non-amortizing swap $ 100,000 $ 2 1.519% 1.226% June 2019 Non-amortizing swap 100,000 35 1.629% 1.226% June 2020

Condensed Consolidating Finan34

Condensed Consolidating Financial Statements (Tables)	3 Months Ended
	Jul. 02, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Statement of Comprehensive Income	CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (unaudited) Quarter ended July 2, 2017 (Amounts in thousands) Parent Issuer Guarantors Non-Guarantors Eliminations Consolidated Sales, net $ — $ 539,559 $ 50,697 $ (21,507 ) $ 568,749 Cost of sales — 410,957 33,229 (21,995 ) 422,191 Gross profit — 128,602 17,468 488 146,558 Operating expenses: Research and development — 7,791 — — 7,791 Selling, general, and administrative — 87,296 12,130 — 99,426 Income before interest and income taxes — 33,515 5,338 488 39,341 Equity in income of subsidiaries 24,399 3,965 — (28,364 ) — Interest expense, net (12,393 ) — — — (12,393 ) Income before income taxes 12,006 37,480 5,338 (27,876 ) 26,948 Income tax provision (benefit) (4,646 ) 13,081 1,706 155 10,296 Net income $ 16,652 $ 24,399 $ 3,632 $ (28,031 ) $ 16,652 Other comprehensive income, net of tax: Net income (from above) $ 16,652 $ 24,399 $ 3,632 $ (28,031 ) $ 16,652 Total other comprehensive income 5,814 5,814 8,571 (14,385 ) 5,814 Comprehensive income $ 22,466 $ 30,213 $ 12,203 $ (42,416 ) $ 22,466 CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (LOSS) (unaudited) Quarter ended July 3, 2016 (Amounts in thousands) Parent Issuer Guarantors Non-Guarantors Eliminations Consolidated Sales, net $ — $ 599,314 $ 54,594 $ (23,639 ) $ 630,269 Cost of sales — 445,549 36,742 (23,399 ) 458,892 Gross profit — 153,765 17,852 (240 ) 171,377 Operating expenses: Research and development — 7,831 — — 7,831 Selling, general, and administrative — 90,616 13,828 — 104,444 Income before interest and income taxes — 55,318 4,024 (240 ) 59,102 Equity in income of subsidiaries 36,601 2,459 — (39,060 ) — Interest expense, net (11,963 ) — — — (11,963 ) Income before income taxes 24,638 57,777 4,024 (39,300 ) 47,139 Income tax provision (benefit) (4,486 ) 21,176 1,408 (83 ) 18,015 Net income $ 29,124 $ 36,601 $ 2,616 $ (39,217 ) $ 29,124 Other comprehensive income (loss), net of tax: Net income (from above) $ 29,124 $ 36,601 $ 2,616 $ (39,217 ) $ 29,124 Total other comprehensive (loss) (3,837 ) (3,837 ) (4,799 ) 8,636 (3,837 ) Comprehensive income (loss) $ 25,287 $ 32,764 $ (2,183 ) $ (30,581 ) $ 25,287
Condensed Balance Sheet	CONDENSED CONSOLIDATED BALANCE SHEET (unaudited) July 2, 2017 (Amounts in thousands) Parent Issuer Guarantors Non-Guarantors Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ — $ 30,596 $ 22,954 $ — $ 53,550 Net receivables — 412,794 41,995 — 454,789 Due from affiliates, current — 1,027 — (1,027 ) — Net inventories — 491,742 55,660 (4,522 ) 542,880 Income tax receivable — 12,991 1,640 3,313 17,944 Other current assets — 24,038 2,601 — 26,639 Total current assets — 973,188 124,850 (2,236 ) 1,095,802 Net property, plant, and equipment — 263,280 9,493 — 272,773 Investment in subsidiaries 2,571,297 204,266 — (2,775,563 ) — Goodwill — 749,898 111,216 — 861,114 Net intangible assets — 668,165 32,674 — 700,839 Long-term due from affiliates — 235,466 — (235,466 ) — Deferred charges and other non-current assets — 24,869 5,910 — 30,779 Total assets $ 2,571,297 $ 3,119,132 $ 284,143 $ (3,013,265 ) $ 2,961,307 LIABILITIES AND EQUITY Current liabilities: Current portion of long-term debt $ 32,000 $ — $ — $ — $ 32,000 Accounts payable — 95,138 6,960 — 102,098 Due to affiliates, current — — 1,027 (1,027 ) — Accrued compensation — 28,817 2,956 — 31,773 Federal excise tax — 24,318 1,774 — 26,092 Other accrued liabilities — 115,921 14,101 — 130,022 Total current liabilities 32,000 264,194 26,818 (1,027 ) 321,985 Long-term debt 1,075,175 — — — 1,075,175 Deferred income tax liabilities — 150,452 7,336 1,656 159,444 Accrued pension and postemployment benefits — 62,710 — — 62,710 Long-term due to affiliates 193,489 — 41,977 (235,466 ) — Other long-term liabilities — 69,688 1,672 — 71,360 Total liabilities 1,300,664 547,044 77,803 (234,837 ) 1,690,674 Equity Total stockholders' equity 1,270,633 2,572,088 206,340 (2,778,428 ) 1,270,633 Total liabilities and stockholders' equity $ 2,571,297 $ 3,119,132 $ 284,143 $ (3,013,265 ) $ 2,961,307 VISTA OUTDOOR INC. CONDENSED CONSOLIDATED BALANCE SHEET (unaudited) March 31, 2017 (Amounts in thousands) Parent Issuer Guarantors Non-Guarantors Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ — $ 23,027 $ 22,048 $ — $ 45,075 Net receivables — 409,177 41,538 — 450,715 Due from affiliates, current — 1,787 — (1,787 ) — Net inventories — 510,754 57,050 (5,009 ) 562,795 Income tax receivable — 22,394 1,303 1,961 25,658 Other current assets — 23,177 2,427 — 25,604 Total current assets — 990,316 124,366 (4,835 ) 1,109,847 Net property, plant, and equipment — 262,711 9,635 — 272,346 Investment in subsidiaries 2,552,948 196,547 — (2,749,495 ) — Goodwill — 749,898 107,733 — 857,631 Net intangible assets — 676,576 31,954 — 708,530 Long-term due from affiliates — 230,669 — (230,669 ) — Deferred charges and other non-current assets — 23,482 4,911 — 28,393 Total assets $ 2,552,948 $ 3,130,199 $ 278,599 $ (2,984,999 ) $ 2,976,747 LIABILITIES AND EQUITY Current liabilities: Current portion of long-term debt $ 32,000 $ — $ — $ — $ 32,000 Accounts payable — 117,650 10,068 — 127,718 Due to affiliates, current — — 1,787 (1,787 ) — Accrued compensation — 30,173 3,490 — 33,663 Federal excise tax — 29,042 1,040 — 30,082 Other accrued liabilities — 110,321 12,605 — 122,926 Total current liabilities 32,000 287,186 28,990 (1,787 ) 346,389 Long-term debt 1,089,252 — — — 1,089,252 Deferred income tax liabilities — 153,636 6,979 150 160,765 Accrued pension and postemployment benefits — 64,230 — — 64,230 Long-term due to affiliates 186,631 — 44,038 (230,669 ) — Other long-term liabilities — 69,384 1,662 — 71,046 Total liabilities 1,307,883 574,436 81,669 (232,306 ) 1,731,682 Equity Total stockholders' equity 1,245,065 2,555,763 196,930 (2,752,693 ) 1,245,065 Total liabilities and stockholders' equity $ 2,552,948 $ 3,130,199 $ 278,599 $ (2,984,999 ) $ 2,976,747
Condensed Cash Flow Statement	CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (unaudited) Quarter ended July 2, 2017 (Amounts in thousands) Parent Issuer Guarantors Non-Guarantors Eliminations Consolidated Operating Activities: Cash provided by (used for) operating activities $ (7,018 ) $ 40,269 $ 5,658 $ — $ 38,909 Investing Activities: Capital expenditures — (16,248 ) (182 ) — (16,430 ) Due from affiliates — (16,452 ) — 16,452 — Acquisition of businesses, net of cash acquired — — — — — Proceeds from the disposition of property, plant, and equipment — — 13 — 13 Cash provided by (used for) investing activities — (32,700 ) (169 ) 16,452 (16,417 ) Financing Activities: Due to affiliates 21,525 — (5,073 ) (16,452 ) — Borrowings on line of credit 145,000 — — — 145,000 Payments made on line of credit (150,000 ) — — — (150,000 ) Payments made on long-term debt (8,000 ) — — — (8,000 ) Payments made for debt issuance costs (1,805 ) — — — (1,805 ) Proceeds from employee stock compensation plans 298 — — — 298 Cash provided by (used for) financing activities 7,018 — (5,073 ) (16,452 ) (14,507 ) Effect of foreign exchange rate fluctuations on cash — — 490 — 490 Increase in cash and cash equivalents — 7,569 906 — 8,475 Cash and cash equivalents at beginning of period — 23,027 22,048 — 45,075 Cash and cash equivalents at end of period $ — $ 30,596 $ 22,954 $ — $ 53,550 VISTA OUTDOOR INC. CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (unaudited) Quarter ended July 3, 2016 (Amounts in thousands) Parent Issuer Guarantors Non-Guarantors Eliminations Consolidated Operating Activities: Cash provided by (used for) operating activities $ (5,830 ) $ (17,028 ) $ 700 $ — $ (22,158 ) Investing Activities: Capital expenditures — (20,179 ) (827 ) — (21,006 ) Due from affiliates — (51,322 ) — 51,322 — Acquisition of businesses, net of cash acquired (409,558 ) 3,228 387 — (405,943 ) Proceeds from the disposition of property, plant, and equipment — 22 12 — 34 Cash used for investing activities (409,558 ) (68,251 ) (428 ) 51,322 (426,915 ) Financing Activities: Due to affiliates 51,606 — (284 ) (51,322 ) — Borrowings on line of credit 115,000 — — — 115,000 Payments made on line of credit (25,000 ) — — — (25,000 ) Proceeds from issuance of long-term debt 307,500 — — — 307,500 Payments made on long-term debt (8,000 ) — — — (8,000 ) Payments made for debt issuance costs (3,660 ) — — — (3,660 ) Purchase of treasury shares (22,058 ) — — — (22,058 ) Cash provided by (used for) financing activities 415,388 — (284 ) (51,322 ) 363,782 Effect of foreign exchange rate fluctuations on cash — — (401 ) — (401 ) (Decrease) increase in cash and cash equivalents — (85,279 ) (413 ) — (85,692 ) Cash and cash equivalents at beginning of period — 133,503 18,189 — 151,692 Cash and cash equivalents at end of period $ — $ 48,224 $ 17,776 $ — $ 66,000

Operating Segment Information35

Operating Segment Information (Tables)	3 Months Ended
	Jul. 02, 2017
Segment Reporting [Abstract]
Summary Results by Segment	The following summarizes our results by segment: Quarter ended July 2, 2017 July 3, 2016 Sales to external customers: Outdoor Products $ 289,983 $ 287,465 Shooting Sports 278,766 342,804 Total sales to external customers $ 568,749 $ 630,269 Gross Profit Outdoor Products $ 76,510 $ 80,897 Shooting Sports 70,318 90,834 Corporate (270 ) (354 ) Total gross profit $ 146,558 $ 171,377

Basis of Presentation and Res36

Basis of Presentation and Responsibility for Interim Financial Statements (Details)	3 Months Ended
	Jul. 02, 2017segment
Accounting Policies [Abstract]
Number of operating segments	2

Fair Value of Financial Instr37

Fair Value of Financial Instruments (Details) - Fair value of assets and liabilities that are not measured on a recurring basis - USD ($) $ in Thousands	Jul. 02, 2017	Mar. 31, 2017
Carrying amount
Assets and liabilities that are not measured on a recurring basis
Fixed-rate debt	$ 350,000	$ 350,000
Variable-rate debt	770,000	783,000
Fair value
Assets and liabilities that are not measured on a recurring basis
Fixed-rate debt	360,252	341,250
Variable-rate debt	$ 770,000	$ 783,000

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($)	3 Months Ended
	Jul. 02, 2017	Jul. 03, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Basic EPS shares outstanding	56,916,000	60,384,000
Dilutive effect of stock-based awards	41,000	331,000
Diluted EPS shares outstanding	56,957,000	60,715,000
Shares excluded from the calculation of diluted EPS because the option exercise/threshold price was greater than the average market price of the common shares	358,000	71,000
Stock Repurchase Program, Authorized Amount		$ 100,000,000	$ 200,000,000
Treasury Stock, Shares, Acquired	0	461,525
Treasury Stock, Value, Acquired, Cost Method		$ 22,277,000

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) $ in Thousands	Sep. 01, 2016USD ($)	Apr. 01, 2016USD ($)	Jul. 02, 2017USD ($)	Mar. 31, 2017USD ($)
Fair value of liabilities assumed:
Goodwill			$ 861,114	$ 857,631
Camp Chef [Member]
Business Acquisition [Line Items]
Payments to acquire businesses	$ 60,000
Consideration transferred, liabilities incurred	4,000
Business Combination, Contingent Consideration, Liability	10,000
Purchase price net of cash acquired:
Cash paid	60,000
Estimated earnout value	$ 4,000
Action Sports [Member]
Business Acquisition [Line Items]
Payments to acquire businesses		$ 400,000
Consideration transferred, liabilities incurred		$ 4,272	4,886
Entity Number of Employees		600
Purchase price net of cash acquired:
Cash paid		$ 400,000
Estimated earnout value		4,272	$ 4,886
Cash received for working capital		(1,289)
Total purchase price		402,983
Fair value of assets acquired:
Receivables		78,090
Inventories		56,527
Tradename, customer relationship, and technology intangibles		155,100
Property, plant, and equipment		34,114
Other assets		6,425
Total assets		330,256
Fair value of liabilities assumed:
Accounts payable		30,240
Deferred tax liabilities		43,991
Other liabilities		33,168
Total liabilities		107,399
Net assets acquired		222,857
Goodwill		$ 180,126

Net Receivables (Details)

Net Receivables (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jul. 02, 2017	Mar. 31, 2017
Receivables [Abstract]
Trade receivables	$ 477,080	$ 472,233
Other receivables	2,106	3,136
Less: allowance for doubtful accounts and discounts	(24,397)	(24,654)
Net receivables	$ 454,789	$ 450,715
Credit Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration Risk, Percentage	17.00%	13.00%

Net Inventories (Details)

Net Inventories (Details) - USD ($) $ in Thousands	Jul. 02, 2017	Mar. 31, 2017
Inventory Disclosure [Abstract]
Raw materials	$ 103,862	$ 101,635
Work in process	47,212	51,004
Finished goods	391,806	410,156
Net inventories	542,880	562,795
Long-term inventories	27,949	23,504
Valuation reserve on long-term inventories	$ 17,844	$ 18,759

Accumulated Other Comprehensi42

Accumulated Other Comprehensive Loss (Components of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	Jul. 02, 2017	Mar. 31, 2017	Jul. 03, 2016	Mar. 31, 2016
Equity [Abstract]
Pension and other postretirement benefits	$ 59,709	$ 56,929
Derivatives	23	0
Cumulative translation adjustment	(47,492)	(56,063)
Total AOCL	$ (107,178)	$ (112,992)	$ (114,051)	$ (110,214)

Accumulated Other Comprehensi43

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 02, 2017	Jul. 03, 2016	Mar. 31, 2017	Mar. 31, 2016
Accumulated Other Comprehensive Income Loss [Line Items]
Derivatives	$ 23		$ 0
Pension and other postretirement benefits	(59,709)		(56,929)
Cumulative translation adjustment	(47,492)		(56,063)
Total AOCL	(107,178)	$ (114,051)	(112,992)	$ (110,214)
Reclassification of net actuarial loss for pension and postretirement benefit plans recorded to net income, net of tax expense	(1,122)	(1,236)
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax	1,122	1,236
Reclassification of prior service credits for pension and postretirement benefit plans recorded to net income, net of tax benefit of $163 and $162, respectively.	(274)	(274)
Valuation adjustment for pension and postretirement benefit plans, net of tax benefit of $2,154 and $0, respectively	(3,628)	0
Net increase in fair value of derivatives	23
Change in cumulative translation adjustment, net of tax benefit of $0 and $0, respectively.	8,571	(4,799)
Pension and Other Postretirement Benefits Adjustments [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Pension and other postretirement benefits	(59,709)	(62,705)	(56,929)	(63,667)
Cumulative Translation Adjustment [Member]
Accumulated Other Comprehensive Income Loss [Line Items]
Cumulative translation adjustment	$ (47,492)	$ (51,346)	$ (56,063)	$ (46,547)

Goodwill and Net Intangible A44

Goodwill and Net Intangible Assets (Narrative) (Details) - USD ($)	3 Months Ended		12 Months Ended
	Jul. 02, 2017	Jul. 03, 2016	Mar. 31, 2017	Mar. 31, 2015
Indefinite-lived Intangible Assets [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	12 years 7 months 6 days
Amortization expense	$ 9,110,000	$ 10,106,000
Trade Names
Indefinite-lived Intangible Assets [Line Items]
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)			$ 34,230,000	$ 11,200,000
Trade Names
Indefinite-lived Intangible Assets [Line Items]
Impairment of Intangible Assets, Finite-lived			61,054
Outdoor Products
Indefinite-lived Intangible Assets [Line Items]
Goodwill, Impaired, Accumulated Impairment Loss	401,706,000		$ 353,915,000	$ 47,791,000
Shooting Sports
Indefinite-lived Intangible Assets [Line Items]
Goodwill, Impaired, Accumulated Impairment Loss	$ 41,020,000

Goodwill and Net Intangible A45

Goodwill and Net Intangible Assets (Goodwill Rollforward) (Details) $ in Thousands	3 Months Ended
	Jul. 02, 2017USD ($)
Goodwill [Roll Forward]
Balance at the beginning of the period	$ 857,631
Effect of foreign currency exchange rates	3,483
Balance at the end of the period	861,114
Outdoor Products
Goodwill [Roll Forward]
Balance at the beginning of the period	652,896
Effect of foreign currency exchange rates	3,331
Balance at the end of the period	656,227
Shooting Sports
Goodwill [Roll Forward]
Balance at the beginning of the period	204,735
Effect of foreign currency exchange rates	152
Balance at the end of the period	$ 204,887

Goodwill and Net Intangible A46

Goodwill and Net Intangible Assets (Schedule of Net Intangible Assets) (Details) - USD ($) $ in Thousands	Jul. 02, 2017	Mar. 31, 2017
Amortizing assets
Gross carrying amount	$ 498,191	$ 496,324
Accumulated amortization	(112,319)	(102,761)
Total	385,872	393,563
Intangible assets, gross	813,158	811,291
Net intangible assets	700,839	708,530
Non-amortizing trade names
Amortizing assets
Non-amortizing trade names	314,967	314,967
Trade names
Amortizing assets
Gross carrying amount	106,159	106,159
Accumulated amortization	(18,986)	(17,048)
Total	87,173	89,111
Patented technology
Amortizing assets
Gross carrying amount	19,066	19,066
Accumulated amortization	(7,978)	(7,703)
Total	11,088	11,363
Customer relationships and other
Amortizing assets
Gross carrying amount	372,966	371,099
Accumulated amortization	(85,355)	(78,010)
Total	$ 287,611	$ 293,089

Goodwill and Net Intangible A47

Goodwill and Net Intangible Assets (Future Amortization Expense) (Details) - USD ($) $ in Thousands	Jul. 02, 2017	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of fiscal 2018	$ 27,666
Fiscal 2,019	34,144
Fiscal 2,020	33,317
Fiscal 2,021	33,301
Fiscal 2,022	33,293
Thereafter	224,151
Total	$ 385,872	$ 393,563

Other Current and Non-current48

Other Current and Non-current Liabilities (Components of Current and Non-current Liabilities) (Details) - USD ($) $ in Thousands	Jul. 02, 2017	Mar. 31, 2017
Other Liabilities Disclosure [Abstract]
Accrual for in-transit inventory	$ 25,427	$ 17,505
Rebate	22,433	19,325
Other	82,162	86,096
Total other current liabilities	130,022	122,926
Non-current portion of accrued income tax liability	33,469	32,842
Other	37,891	38,204
Total other non-current liabilities	$ 71,360	$ 71,046

Other Current and Non-current49

Other Current and Non-current Liabilities (Product Warranty Rollforward) (Details) $ in Thousands	3 Months Ended
	Jul. 02, 2017USD ($)
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Balance at the beginning of the period	$ 10,014
Payments made	(915)
Warranties issued	1,274
Changes related to preexisting warranties	89
Balance at the end of period	$ 10,462

Long-term Debt (Components of L

Long-term Debt (Components of Long-term Debt) (Details) - USD ($) $ in Thousands	Jul. 02, 2017	Mar. 31, 2017	Apr. 01, 2016	Aug. 11, 2015
Long-Term Debt
Principal amount of long-term debt	$ 1,120,000	$ 1,133,000
Less: unamortized deferred financing costs	(12,825)	(11,748)
Carrying amount of long-term debt	1,107,175	1,121,252
Less: current portion	(32,000)	(32,000)
Carrying amount of long-term debt, excluding current portion	1,075,175	1,089,252
Total principal amount of Credit Agreement
Long-Term Debt
Principal amount of long-term debt	770,000	783,000
Term A Loan due 2021
Long-Term Debt
Principal amount of long-term debt	600,000	608,000	$ 640,000
Line of Credit due 2021
Long-Term Debt
Principal amount of long-term debt	170,000	175,000	$ 400,000
Carrying amount of long-term debt	170,000
5.875% notes
Long-Term Debt
Principal amount of long-term debt	$ 350,000	$ 350,000
Carrying amount of long-term debt				$ 350,000

Long-term Debt (Narrative - Cre

Long-term Debt (Narrative - Credit Agreement) (Details) - USD ($)	3 Months Ended
	Jul. 02, 2017	Mar. 31, 2017	Apr. 01, 2016	Dec. 31, 2014
Long-Term Debt
Principal amount of long-term debt	$ 1,120,000,000	$ 1,133,000,000
Long-term Debt	1,107,175,000	1,121,252,000
Letters of Credit Outstanding, Amount	25,854,000
Line of Credit Facility, Remaining Borrowing Capacity	204,146,000
Write off of Deferred Debt Issuance Cost	1,521,000
Term A Loan due 2021
Long-Term Debt
Principal amount of long-term debt	600,000,000	608,000,000	$ 640,000,000
Debt Instrument, Periodic Payment, Principal	$ 8,000,000
Weighted average interest rate (as a percent)	3.22%
Deferred Finance Costs Gross, Accordion Feature	$ 14,000,000
Term A Loan due 2021 | Base Rate
Long-Term Debt
Basis spread on variable rate margin (as a percent)	1.00%
Term A Loan due 2021 | Eurodollar
Long-Term Debt
Basis spread on variable rate margin (as a percent)	2.00%
Line of Credit due 2021
Long-Term Debt
Principal amount of long-term debt	$ 170,000,000	$ 175,000,000	$ 400,000,000
Annual commitment fee on the unused portion (as a percent)	0.35%
Long-term Debt	$ 170,000,000
Line of Credit due 2020
Long-Term Debt
Principal amount of long-term debt				$ 350,000,000
Term A Loan due 2020
Long-Term Debt
Principal amount of long-term debt				$ 400,000,000
Line of Credit | Credit Agreement
Long-Term Debt
Leverage Ratio from July 2, 2017 through December 30, 2018	4.75
Leverage Ratio from March 31, 2019 through December 29, 2019	4.25
Leverage Ratio from March 31, 2020 and thereafter	4
Consolidated Senior Secured Leverage Ratio, from July 2, 2017 through December 30, 2018	3.50
Consolidated Senior Secured Leverage Ratio, from March 31, 2019 and thereafter	3
Restricted Payments	$ 150,000,000
Restricted payments, percent of net income since April 1, 2017	50.00%
Unamortized debt issuance costs	$ 1,800,000
Line of Credit | Base Rate | Credit Agreement | Minimum
Long-Term Debt
Basis spread on variable rate margin (as a percent)	0.50%
Annual commitment fee on the unused portion (as a percent)	0.25%
Line of Credit | Base Rate | Credit Agreement | Maximum
Long-Term Debt
Basis spread on variable rate margin (as a percent)	1.50%
Annual commitment fee on the unused portion (as a percent)	0.45%
Line of Credit | Eurodollar | Credit Agreement | Minimum
Long-Term Debt
Basis spread on variable rate margin (as a percent)	1.50%
Line of Credit | Eurodollar | Credit Agreement | Maximum
Long-Term Debt
Basis spread on variable rate margin (as a percent)	2.50%

Long-term Debt (Narrative - 5.8

Long-term Debt (Narrative - 5.875% Notes) (Details) - USD ($)	Aug. 11, 2015	Jul. 02, 2017	Mar. 31, 2017
Debt Instrument [Line Items]
Long-term Debt		$ 1,107,175,000	$ 1,121,252,000
5.875% notes
Debt Instrument [Line Items]
Long-term Debt	$ 350,000,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	5.875%
Debt Instrument, Redemption Price, Percentage		100.00%
Debt Instrument, Redemption with Net Proceeds from Equity Offerings as Percentage of Original Principal		35.00%
Debt Instrument, Redemption Price with Net Proceeds from Equity Offerings as Percentage of Original Principal		105.875%
Debt Issuance Costs, Gross		$ 4,300,000
Debt Instrument, Term	8 years
Bottom threshhold of guarantee	$ 50,000,000

Long-term Debt (Interest Rate S

Long-term Debt (Interest Rate Swaps) (Details) - Cash Flow Hedging - Designated as Hedging Instrument	Jul. 02, 2017USD ($)
Interest Rate Swap Maturing June 2019
Derivative [Line Items]
Notional	$ 100,000,000
Fair Value	$ 2,000
Pay Fixed	1.519%
Receive Floating	1.226%
Interest Rate Swap Maturing June 2020
Derivative [Line Items]
Notional	$ 100,000,000
Fair Value	$ 35,000
Pay Fixed	1.629%
Receive Floating	1.226%

Long-term Debt (Narrative - Cas

Long-term Debt (Narrative - Cash Paid for Interest on Debt) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 02, 2017	Jul. 03, 2016
Debt Disclosure [Abstract]
Interest Paid	$ 16,197	$ 17,236

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($)	3 Months Ended
	Jul. 02, 2017	Jul. 03, 2016
Defined Benefit Plans
Expense for employee benefit plans	$ (4,352,000)	$ 1,690,000
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Curtailment	5,783,000
Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plans
Expense for employee benefit plans	1,431,000	1,690,000
Contribution by employer	0	0
Estimated future employer contributions in the next year	159,000
Pension Plan
Defined Benefit Plans
Contribution by employer	1,600,000	1,100,000
Estimated future employer contributions in the next year	7,200,000
Supplemental Employee Retirement Plan
Defined Benefit Plans
Contribution by employer	0	$ 12,000
Estimated future employer contributions in the next year	$ 11,125,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 02, 2017	Jul. 03, 2016
Income Tax Disclosure [Abstract]
Income tax provision (as a percent)	38.20%	38.20%
Potential reduction of uncertain tax benefits over the next 12 months from audit settlements	$ (2,681)
Minimum
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Unrecognized tax benefits that would impact effective tax rate	0
Maximum
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Unrecognized tax benefits that would impact effective tax rate	$ 1,776

Contingencies (Details)

Contingencies (Details) - USD ($) $ in Thousands	Jul. 02, 2017	Mar. 31, 2017
Loss Contingency [Abstract]
Accrual for Environmental Loss Contingencies	$ 747	$ 750

Condensed Consolidating Finan58

Condensed Consolidating Financial Statements (Condensed Consolidated Statement of Comprehensive Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 02, 2017	Jul. 03, 2016
Condensed Income Statements, Captions [Abstract]
Sales, net	$ 568,749	$ 630,269
Cost of sales	422,191	458,892
Gross profit	146,558	171,377
Research and development	7,791	7,831
Selling, general, and administrative	99,426	104,444
Income before interest and income taxes	39,341	59,102
Equity in income of subsidiaries	0	0
Interest expense, net	(12,393)	(11,963)
Income before income taxes	26,948	47,139
Income tax provision	10,296	18,015
Net income	16,652	29,124
Total other comprehensive income	5,814	(3,837)
Comprehensive income	22,466	25,287
Eliminations
Condensed Income Statements, Captions [Abstract]
Sales, net	(21,507)	(23,639)
Cost of sales	(21,995)	(23,399)
Gross profit	488	(240)
Research and development	0	0
Selling, general, and administrative	0	0
Income before interest and income taxes	488	(240)
Equity in income of subsidiaries	(28,364)	(39,060)
Interest expense, net	0	0
Income before income taxes	(27,876)	(39,300)
Income tax provision	155	(83)
Net income	(28,031)	(39,217)
Total other comprehensive income	(14,385)	8,636
Comprehensive income	(42,416)	(30,581)
Parent Issuer | Reportable Legal Entities
Condensed Income Statements, Captions [Abstract]
Sales, net	0	0
Cost of sales	0	0
Gross profit	0	0
Research and development	0	0
Selling, general, and administrative	0	0
Income before interest and income taxes	0	0
Equity in income of subsidiaries	24,399	36,601
Interest expense, net	(12,393)	(11,963)
Income before income taxes	12,006	24,638
Income tax provision	(4,646)	(4,486)
Net income	16,652	29,124
Total other comprehensive income	5,814	(3,837)
Comprehensive income	22,466	25,287
Guarantors | Reportable Legal Entities
Condensed Income Statements, Captions [Abstract]
Sales, net	539,559	599,314
Cost of sales	410,957	445,549
Gross profit	128,602	153,765
Research and development	7,791	7,831
Selling, general, and administrative	87,296	90,616
Income before interest and income taxes	33,515	55,318
Equity in income of subsidiaries	3,965	2,459
Interest expense, net	0	0
Income before income taxes	37,480	57,777
Income tax provision	13,081	21,176
Net income	24,399	36,601
Total other comprehensive income	5,814	(3,837)
Comprehensive income	30,213	32,764
Non-Guarantors | Reportable Legal Entities
Condensed Income Statements, Captions [Abstract]
Sales, net	50,697	54,594
Cost of sales	33,229	36,742
Gross profit	17,468	17,852
Research and development	0	0
Selling, general, and administrative	12,130	13,828
Income before interest and income taxes	5,338	4,024
Equity in income of subsidiaries	0	0
Interest expense, net	0	0
Income before income taxes	5,338	4,024
Income tax provision	1,706	1,408
Net income	3,632	2,616
Total other comprehensive income	8,571	(4,799)
Comprehensive income	$ 12,203	$ (2,183)

Condensed Consolidating Finan59

Condensed Consolidating Financial Statements (Condensed Consolidated Balance Sheet) (Details) - USD ($) $ in Thousands	Jul. 02, 2017	Mar. 31, 2017	Jul. 03, 2016	Mar. 31, 2016
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	$ 53,550	$ 45,075	$ 66,000	$ 151,692
Net receivables	454,789	450,715
Due from affiliates, current	0	0
Net inventories	542,880	562,795
Income tax receivable	17,944	25,658
Other current assets	26,639	25,604
Total current assets	1,095,802	1,109,847
Net property, plant, and equipment	272,773	272,346
Investment in subsidiaries	0	0
Goodwill	861,114	857,631
Net intangible assets	700,839	708,530
Long-term due from affiliates	0	0
Deferred charges and other non-current assets	30,779	28,393
Total assets	2,961,307	2,976,747
Current portion of long-term debt	32,000	32,000
Accounts payable	102,098	127,718
Due to affiliates, current	0	0
Accrued compensation	31,773	33,663
Federal excise tax	26,092	30,082
Other accrued liabilities	130,022	122,926
Total current liabilities	321,985	346,389
Long-term debt	1,075,175	1,089,252
Deferred income tax liabilities	159,444	160,765
Accrued pension and postemployment benefits	62,710	64,230
Long-term due to affiliates	0	0
Other long-term liabilities	71,360	71,046
Total liabilities	1,690,674	1,731,682
Total stockholders' equity	1,270,633	1,245,065
Total liabilities and stockholders' equity	2,961,307	2,976,747
Eliminations
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	0	0	0	0
Net receivables	0	0
Due from affiliates, current	(1,027)	(1,787)
Net inventories	(4,522)	(5,009)
Income tax receivable	3,313	1,961
Other current assets	0	0
Total current assets	(2,236)	(4,835)
Net property, plant, and equipment	0	0
Investment in subsidiaries	(2,775,563)	(2,749,495)
Goodwill	0	0
Net intangible assets	0	0
Long-term due from affiliates	(235,466)	(230,669)
Deferred charges and other non-current assets	0	0
Total assets	(3,013,265)	(2,984,999)
Current portion of long-term debt	0	0
Accounts payable	0	0
Due to affiliates, current	(1,027)	(1,787)
Accrued compensation	0	0
Federal excise tax	0	0
Other accrued liabilities	0	0
Total current liabilities	(1,027)	(1,787)
Long-term debt	0	0
Deferred income tax liabilities	1,656	150
Accrued pension and postemployment benefits	0	0
Long-term due to affiliates	(235,466)	(230,669)
Other long-term liabilities	0	0
Total liabilities	(234,837)	(232,306)
Total stockholders' equity	(2,778,428)	(2,752,693)
Total liabilities and stockholders' equity	(3,013,265)	(2,984,999)
Parent Issuer | Reportable Legal Entities
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	0	0	0	0
Net receivables	0	0
Due from affiliates, current	0	0
Net inventories	0	0
Income tax receivable	0	0
Other current assets	0	0
Total current assets	0	0
Net property, plant, and equipment	0	0
Investment in subsidiaries	2,571,297	2,552,948
Goodwill	0	0
Net intangible assets	0	0
Long-term due from affiliates	0	0
Deferred charges and other non-current assets	0	0
Total assets	2,571,297	2,552,948
Current portion of long-term debt	32,000	32,000
Accounts payable	0	0
Due to affiliates, current	0	0
Accrued compensation	0	0
Federal excise tax	0	0
Other accrued liabilities	0	0
Total current liabilities	32,000	32,000
Long-term debt	1,075,175	1,089,252
Deferred income tax liabilities	0	0
Accrued pension and postemployment benefits	0	0
Long-term due to affiliates	193,489	186,631
Other long-term liabilities	0	0
Total liabilities	1,300,664	1,307,883
Total stockholders' equity	1,270,633	1,245,065
Total liabilities and stockholders' equity	2,571,297	2,552,948
Guarantors | Reportable Legal Entities
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	30,596	23,027	48,224	133,503
Net receivables	412,794	409,177
Due from affiliates, current	1,027	1,787
Net inventories	491,742	510,754
Income tax receivable	12,991	22,394
Other current assets	24,038	23,177
Total current assets	973,188	990,316
Net property, plant, and equipment	263,280	262,711
Investment in subsidiaries	204,266	196,547
Goodwill	749,898	749,898
Net intangible assets	668,165	676,576
Long-term due from affiliates	235,466	230,669
Deferred charges and other non-current assets	24,869	23,482
Total assets	3,119,132	3,130,199
Current portion of long-term debt	0	0
Accounts payable	95,138	117,650
Due to affiliates, current	0	0
Accrued compensation	28,817	30,173
Federal excise tax	24,318	29,042
Other accrued liabilities	115,921	110,321
Total current liabilities	264,194	287,186
Long-term debt	0	0
Deferred income tax liabilities	150,452	153,636
Accrued pension and postemployment benefits	62,710	64,230
Long-term due to affiliates	0	0
Other long-term liabilities	69,688	69,384
Total liabilities	547,044	574,436
Total stockholders' equity	2,572,088	2,555,763
Total liabilities and stockholders' equity	3,119,132	3,130,199
Non-Guarantors | Reportable Legal Entities
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	22,954	22,048	$ 17,776	$ 18,189
Net receivables	41,995	41,538
Due from affiliates, current	0	0
Net inventories	55,660	57,050
Income tax receivable	1,640	1,303
Other current assets	2,601	2,427
Total current assets	124,850	124,366
Net property, plant, and equipment	9,493	9,635
Investment in subsidiaries	0	0
Goodwill	111,216	107,733
Net intangible assets	32,674	31,954
Long-term due from affiliates	0	0
Deferred charges and other non-current assets	5,910	4,911
Total assets	284,143	278,599
Current portion of long-term debt	0	0
Accounts payable	6,960	10,068
Due to affiliates, current	1,027	1,787
Accrued compensation	2,956	3,490
Federal excise tax	1,774	1,040
Other accrued liabilities	14,101	12,605
Total current liabilities	26,818	28,990
Long-term debt	0	0
Deferred income tax liabilities	7,336	6,979
Accrued pension and postemployment benefits	0	0
Long-term due to affiliates	41,977	44,038
Other long-term liabilities	1,672	1,662
Total liabilities	77,803	81,669
Total stockholders' equity	206,340	196,930
Total liabilities and stockholders' equity	$ 284,143	$ 278,599

Condensed Consolidating Finan60

Condensed Consolidating Financial Statements (Condensed Consolidated Statement of Cash Flows) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 02, 2017	Jul. 03, 2016
Condensed Consolidated Cash Flow Statements, Captions [Line Items]
Cash provided by (used for) operating activities	$ 38,909	$ (22,158)
Capital expenditures	(16,430)	(21,006)
Due from affiliates	0	0
Acquisition of businesses, net of cash acquired	0	(405,943)
Proceeds from the disposition of property, plant, and equipment	13	34
Cash used for investing activities	(16,417)	(426,915)
Due to affiliates	0	0
Borrowings on line of credit	145,000	115,000
Payments made on line of credit	(150,000)	(25,000)
Proceeds from issuance of long-term debt	0	307,500
Payments made on long-term debt	(8,000)	(8,000)
Payments made for debt issuance costs	(1,805)	(3,660)
Purchase of treasury shares	0	(22,058)
Proceeds from employee stock compensation plans	298	0
Cash provided by (used for) financing activities	(14,507)	363,782
Effect of foreign exchange rate fluctuations on cash	490	(401)
(Decrease) increase in cash and cash equivalents	8,475	(85,692)
Cash and cash equivalents at beginning of period	45,075	151,692
Cash and cash equivalents at end of period	53,550	66,000
Eliminations
Condensed Consolidated Cash Flow Statements, Captions [Line Items]
Cash provided by (used for) operating activities	0	0
Capital expenditures	0	0
Due from affiliates	16,452	51,322
Acquisition of businesses, net of cash acquired	0	0
Proceeds from the disposition of property, plant, and equipment	0	0
Cash used for investing activities	16,452	51,322
Due to affiliates	(16,452)	(51,322)
Borrowings on line of credit	0	0
Payments made on line of credit	0	0
Proceeds from issuance of long-term debt		0
Payments made on long-term debt	0	0
Payments made for debt issuance costs	0	0
Purchase of treasury shares		0
Proceeds from employee stock compensation plans	0
Cash provided by (used for) financing activities	(16,452)	(51,322)
Effect of foreign exchange rate fluctuations on cash	0	0
(Decrease) increase in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Parent Issuer | Reportable Legal Entities
Condensed Consolidated Cash Flow Statements, Captions [Line Items]
Cash provided by (used for) operating activities	(7,018)	(5,830)
Capital expenditures	0	0
Due from affiliates	0	0
Acquisition of businesses, net of cash acquired	0	(409,558)
Proceeds from the disposition of property, plant, and equipment	0	0
Cash used for investing activities	0	(409,558)
Due to affiliates	21,525	51,606
Borrowings on line of credit	145,000	115,000
Payments made on line of credit	(150,000)	(25,000)
Proceeds from issuance of long-term debt		307,500
Payments made on long-term debt	(8,000)	(8,000)
Payments made for debt issuance costs	(1,805)	(3,660)
Purchase of treasury shares		(22,058)
Proceeds from employee stock compensation plans	298
Cash provided by (used for) financing activities	7,018	415,388
Effect of foreign exchange rate fluctuations on cash	0	0
(Decrease) increase in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Guarantors | Reportable Legal Entities
Condensed Consolidated Cash Flow Statements, Captions [Line Items]
Cash provided by (used for) operating activities	40,269	(17,028)
Capital expenditures	(16,248)	(20,179)
Due from affiliates	(16,452)	(51,322)
Acquisition of businesses, net of cash acquired	0	3,228
Proceeds from the disposition of property, plant, and equipment	0	22
Cash used for investing activities	(32,700)	(68,251)
Due to affiliates	0	0
Borrowings on line of credit	0	0
Payments made on line of credit	0	0
Proceeds from issuance of long-term debt		0
Payments made on long-term debt	0	0
Payments made for debt issuance costs	0	0
Purchase of treasury shares		0
Proceeds from employee stock compensation plans	0
Cash provided by (used for) financing activities	0	0
Effect of foreign exchange rate fluctuations on cash	0	0
(Decrease) increase in cash and cash equivalents	7,569	(85,279)
Cash and cash equivalents at beginning of period	23,027	133,503
Cash and cash equivalents at end of period	30,596	48,224
Non-Guarantors | Reportable Legal Entities
Condensed Consolidated Cash Flow Statements, Captions [Line Items]
Cash provided by (used for) operating activities	5,658	700
Capital expenditures	(182)	(827)
Due from affiliates	0	0
Acquisition of businesses, net of cash acquired	0	387
Proceeds from the disposition of property, plant, and equipment	13	12
Cash used for investing activities	(169)	(428)
Due to affiliates	(5,073)	(284)
Borrowings on line of credit	0	0
Payments made on line of credit	0	0
Proceeds from issuance of long-term debt		0
Payments made on long-term debt	0	0
Payments made for debt issuance costs	0	0
Purchase of treasury shares		0
Proceeds from employee stock compensation plans	0
Cash provided by (used for) financing activities	(5,073)	(284)
Effect of foreign exchange rate fluctuations on cash	490	(401)
(Decrease) increase in cash and cash equivalents	906	(413)
Cash and cash equivalents at beginning of period	22,048	18,189
Cash and cash equivalents at end of period	$ 22,954	$ 17,776

Operating Segment Information61

Operating Segment Information (Narrative) (Details) $ in Thousands	3 Months Ended
	Jul. 02, 2017USD ($)segment	Jul. 03, 2016USD ($)
Revenue, Major Customer [Line Items]
Number of operating segments | segment	2
Segment Reporting, Disclosure of Major Customers	Walmart
Segment Reporting Information, Intersegment Revenue | $	$ 861	$ 1,117
Sales Revenue, Net | Customer Concentration Risk
Revenue, Major Customer [Line Items]
Concentration Risk, Percentage	15.00%	14.00%
Outdoor Products
Revenue, Major Customer [Line Items]
Revenues from external customers, percentage	51.00%
Shooting Sports
Revenue, Major Customer [Line Items]
Revenues from external customers, percentage	49.00%

Operating Segment Information62

Operating Segment Information (Schedule of Results by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 02, 2017	Jul. 03, 2016
Segment Reporting Information [Line Items]
Sales, net	$ 568,749	$ 630,269
Gross profit	146,558	171,377
Corporate
Segment Reporting Information [Line Items]
Gross profit	(270)	(354)
Outdoor Products | Operating Segments
Segment Reporting Information [Line Items]
Sales, net	289,983	287,465
Gross profit	76,510	80,897
Shooting Sports | Operating Segments
Segment Reporting Information [Line Items]
Sales, net	278,766	342,804
Gross profit	$ 70,318	$ 90,834