Vista Outdoor (GEAR) 10-Q 8 Feb 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2017	Feb. 05, 2018
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	Dec. 31, 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		57,339,279
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Jan. 01, 2017	Dec. 31, 2017	Jan. 01, 2017
Income Statement [Abstract]
Sales, net	$ 581,204	$ 653,558	$ 1,737,236	$ 1,968,139
Cost of sales	455,099	484,952	1,325,596	1,442,747
Gross profit	126,105	168,606	411,640	525,392
Operating expenses:
Research and development	6,875	8,170	22,113	24,151
Selling, general, and administrative	100,224	95,893	306,036	303,060
Acquisition claim settlement gain, net	0	0	0	(30,027)
Goodwill and intangibles impairment	0	449,199	152,320	449,199
Income (loss) before interest and income taxes	19,006	(384,656)	(68,829)	(220,991)
Interest expense, net	(12,494)	(10,551)	(37,456)	(32,657)
Income (loss) before income taxes	6,512	(395,207)	(106,285)	(253,648)
Income tax provision (benefit)	(47,231)	(17,548)	(61,975)	21,663
Net income (loss)	$ 53,743	$ (377,659)	$ (44,310)	$ (275,311)
Earnings (loss) per common share:
Basic	$ 0.94	$ (6.48)	$ (0.78)	$ (4.63)
Diluted	$ 0.94	$ (6.44)	$ (0.78)	$ (4.60)
Weighted-average number of common shares outstanding:
Basic	57,253	58,275	57,113	59,478
Diluted	57,294	58,634	57,113	59,819
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 $29 and $162, respectively for the quarter ended, and $221 and $486, respectively, for the nine months ended.	$ (49)	$ (274)	$ (372)	$ (822)
Reclassification of net actuarial loss for pension and postretirement benefit plans recorded to net income, net of tax expense of $(281) and $(734), respectively, for the quarter ended, and $(1,240) and $(2,202), respectively, for the nine months ended.	472	1,236	2,087	3,708
Valuation adjustment for pension and postretirement benefit plans, net of tax benefit of $714 and $0, respectively, for the quarter ended, and $710 and $0, respectively, for the nine months ended.	(1,202)	0	(1,197)	0
Change in derivatives, net of tax expense of $(467) and $0, respectively, for the quarter ended, and $(481) and $0, respectively, for the nine months ended.	785	0	808	0
Change in cumulative translation adjustment.	791	(10,711)	16,463	(15,255)
Total other comprehensive income (loss)	797	(9,749)	17,789	(12,369)
Comprehensive income (loss)	$ 54,540	$ (387,408)	$ (26,521)	$ (287,680)

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Jan. 01, 2017	Dec. 31, 2017	Jan. 01, 2017
Income Statement [Abstract]
Reclassification of prior service credits for pension and postretirement benefit plans recorded to net income, net of tax benefit	$ 29	$ 162	$ 221	$ 486
Reclassification of net actuarial loss for pension and postretirement benefit plans recorded to net income, net of tax expense	(281)	(734)	(1,240)	(2,202)
Valuation adjustment for pension and postretirement benefit plans, net of tax benefit	714	0	710	0
Change in derivatives, net of tax expense	(467)	0	(481)	0
Change in cumulative translation adjustment, net of tax benefit	$ 0	$ 0	$ 0	$ 0

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2017
Current assets:
Cash and cash equivalents	$ 63,279	$ 45,075
Net receivables	409,903	450,715
Net inventories	414,362	562,795
Income tax receivable	0	25,658
Assets held for sale	210,153	0
Other current assets	23,500	25,604
Total current assets	1,121,197	1,109,847
Net property, plant, and equipment	267,491	272,346
Goodwill	657,685	857,631
Net intangible assets	600,505	708,530
Deferred charges and other non-current assets	35,065	28,393
Total assets	2,681,943	2,976,747
Current liabilities:
Current portion of long-term debt	32,000	32,000
Accounts payable	108,391	127,718
Accrued compensation	39,525	33,663
Accrued income taxes	787	0
Federal excise tax	24,113	30,082
Liabilities held for sale	42,286	0
Other current liabilities	111,146	122,926
Total current liabilities	358,248	346,389
Long-term debt	905,708	1,089,252
Deferred income tax liabilities	70,290	160,765
Accrued pension and postemployment benefits	45,791	64,230
Other long-term liabilities	71,629	71,046
Total liabilities	1,451,666	1,731,682
Commitments and contingencies (Notes 12 and 15)
Issued and outstanding — 57,289,539 shares as of December 31, 2017 and 57,014,319 shares as of March 31, 2017	573	571
Additional paid-in capital	1,752,858	1,752,903
Accumulated deficit	(152,343)	(108,033)
Accumulated other comprehensive loss	(95,203)	(112,992)
Common stock in treasury, at cost — 6,674,900 shares held as of December 31, 2017 and 6,950,120 shares held as of March 31, 2017	(275,608)	(287,384)
Total stockholders' equity	1,230,277	1,245,065
Total liabilities and stockholders' equity	$ 2,681,943	$ 2,976,747

CONDENSED CONSOLIDATED BALANCE5

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - $ / shares	Dec. 31, 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	57,289,539	57,014,319
Common stock, outstanding shares	57,289,539	57,014,319
Common stock in treasury, shares	6,674,900	6,950,120

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2017	Jan. 01, 2017
Operating Activities
Net income (loss)	$ (44,310)	$ (275,311)
Adjustments to net income (loss) to arrive at cash provided by operating activities:
Depreciation	41,412	40,805
Amortization of intangible assets	26,653	31,020
Goodwill and intangibles impairment	152,320	449,199
Amortization of deferred financing costs	2,260	3,474
Deferred income taxes	(76,173)	(30,171)
Loss on disposal of property, plant, and equipment	87	140
Stock-based compensation	7,868	9,603
Changes in assets and liabilities, net of acquisition of businesses:
Net receivables	12,254	(19,226)
Net inventories	111,250	(85,162)
Accounts payable	(8,456)	(79,414)
Accrued compensation	7,672	(18,871)
Accrued income taxes	31,258	(15,863)
Federal excise tax	(6,083)	3,566
Pension and other postretirement benefits	(8,960)	635
Other assets and liabilities	(5,945)	43,467
Cash provided by operating activities	243,107	57,891
Investing Activities:
Capital expenditures	(43,561)	(49,302)
Acquisition of businesses, net of cash acquired	0	(458,149)
Proceeds from the disposition of property, plant, and equipment	88	92
Cash used for investing activities	(43,473)	(507,359)
Financing Activities:
Borrowings on line of credit	250,000	445,000
Payments made on line of credit	(410,000)	(255,000)
Proceeds from issuance of long-term debt	0	307,500
Payments made on long-term debt	(24,000)	(24,000)
Payments made for debt issuance costs	(1,805)	(3,660)
Purchase of treasury shares	0	(122,860)
Deferred payments for acquisitions	(1,348)	(7,136)
Proceeds from employee stock compensation plans	4,237	75
Cash (used for) provided by financing activities	(182,916)	339,919
Effect of foreign exchange rate fluctuations on cash	1,486	(1,302)
Increase (decrease) in cash and cash equivalents	18,204	(110,851)
Cash and cash equivalents at beginning of period	45,075	151,692
Cash and cash equivalents at end of period	63,279	40,841
Non-cash investing activity:
Capital expenditures included in accounts payable	4,281	2,760
Non-cash financing activity:
Treasury shares purchased included in other accrued liabilities	$ 0	$ 4,479

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)	(287,680)			(275,311)	(12,369)
Exercise of stock options	75		(147)			222
Exercise of stock options (in shares)		4,892
Restricted stock grants net of forfeitures	(431)		(66)			(365)
Restricted stock grants net of forfeitures (in shares)		(22,289)
Share-based compensation	9,603		9,603
Restricted stock vested and shares withheld	(758)		(318)			(440)
Restricted stock vested and shares withheld (in shares)		4,881
Treasury stock purchased	$ (126,560)					(126,560)
Treasury stock purchased (in shares)	(3,095,952)	(3,095,952)
Other	$ 3,268	$ (31)	3,299			0
Other (in shares)		5,277
Balance at Jan. 01, 2017	1,257,684	$ 577	1,755,742	(108,890)	(122,583)	(267,162)
Balance (in shares) at Jan. 01, 2017		57,722,723
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)	(26,521)			(44,310)	17,789
Exercise of stock options	4,237		(6,734)			10,971
Exercise of stock options (in shares)		265,160
Restricted stock grants net of forfeitures	(1,630)		126			(1,756)
Restricted stock grants net of forfeitures (in shares)		(66,473)
Share-based compensation	7,868		7,868
Restricted stock vested and shares withheld	721		(758)			1,479
Restricted stock vested and shares withheld (in shares)		51,307
Employee stock purchase plan	$ 372		(482)			854
Employee stock purchase plan (in shares)		20,670
Treasury stock purchased (in shares)	0
Other	$ 165	$ 2	(65)			228
Other (in shares)		4,556
Balance at Dec. 31, 2017	$ 1,230,277	$ 573	$ 1,752,858	$ (152,343)	$ (95,203)	$ (275,608)
Balance (in shares) at Dec. 31, 2017		57,289,539

Basis of Presentation and Respo

Basis of Presentation and Responsibility for Interim Financial Statements	9 Months Ended
	Dec. 31, 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 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 (“fiscal 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 fiscal 2017. Management is responsible for the condensed consolidated financial statements included in this report, which are unaudited but, in the opinion of management, include all adjustments necessary for a fair presentation of our financial position as of December 31, 2017 and March 31, 2017 , our results of operations for the three and nine months ended December 31, 2017 and January 1, 2017 , and our cash flows for the nine months ended December 31, 2017 and January 1, 2017 . 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 us 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 and related disclosures. We currently believe that the financial results from the majority of our businesses will not be impacted; although there could be immaterial changes to how we present sales returns reserves and related amounts in our financial statements. We 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 of this new guidance 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	9 Months Ended
	Dec. 31, 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 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 our outstanding 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 12, Long-term Debt, for additional information. Foreign currency derivatives —In order to manage our exposure to foreign currency risk, we periodically utilize foreign currency derivatives, which are considered Level 2 instruments. Foreign currency derivatives are valued based on observable market transactions of spot currency rates and forward currency prices. During the quarter ended October 1, 2017, we entered into various foreign currency forward contracts. See Note 3, Derivative Financial Instruments, for additional information. There were no foreign currency derivatives outstanding as of March 31, 2017. 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 is evaluated on an ongoing basis and is based on management estimates and entity-specific assumptions which are considered Level 3 inputs. See Note 6, Acquisitions, for additional information. 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: December 31, 2017 March 31, 2017 Carrying Fair Carrying Fair Fixed-rate debt $ 350,000 $ 341,684 $ 350,000 $ 341,250 Variable-rate debt 599,000 599,000 783,000 783,000

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments We are exposed to market risks arising from adverse changes in: • commodity prices affecting the cost of raw materials, • interest rate, and • foreign exchange risks. In the normal course of business, these risks are managed through a variety of strategies, including the use of derivative instruments. See Note 12, Long-term Debt, for additional information on our interest rate swaps. Foreign currency exchange contracts are used to hedge forecasted transactions denominated in a foreign currency. We entered into various foreign currency forward contracts during the quarter ended October 1, 2017. These contracts are used to hedge forecasted cash receipts from customers denominated in foreign currencies and are designated and qualify as effective cash flow hedges. Ineffectiveness with respect to forecasted customer cash receipts is calculated based on changes in the forward rate until the anticipated cash receipt occurs. The fair value of the foreign currency forward contracts is recorded within other assets or liabilities, as appropriate, and the effective portion is reflected in accumulated other comprehensive loss ("AOCL") in our financial statements. The gains or losses on the foreign currency forward contracts are recorded in earnings when we settle the contracts with the counterparty. As of December 31, 2017 , we had outstanding foreign currency forward contracts in place for the following amounts: Notional Amount of Currency Sale of foreign currency: Euro 3,466 The derivative gains and losses in the unaudited condensed consolidated statements of comprehensive income related to foreign currency forward contracts were immaterial. The liability related to the foreign currency forward contracts is immaterial and is recorded as part of other current liabilities.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Dec. 31, 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 three and nine months ended December 31, 2017 and January 1, 2017 , earnings, as reported for each respective period, is divided by the number of shares below: Quarter ended Nine months ended (in thousands) December 31, 2017 January 1, 2017 December 31, 2017 January 1, 2017 Basic EPS shares outstanding 57,253 58,275 57,113 59,478 Dilutive effect of stock-based awards 41 359 — 341 Diluted EPS shares outstanding 57,294 58,634 57,113 59,819 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 236 139 149 139 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. In fiscal 2017, our Board of Directors 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 nine months ended December 31, 2017 . During the three and nine months ended January 1, 2017 , we repurchased an aggregate of 1,559,938 shares for $59,993 and 3,095,952 shares for $126,560 , respectively under the two share repurchase programs.

Assets and Liabilities Held for

Assets and Liabilities Held for Sale	9 Months Ended
	Dec. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]
Assets and Liabilities Held for Sale	Assets and Liabilities Held for Sale In November 2017, we announced our intention to sell our eyewear business consisting of the Bollé, Serengeti, and Cébé brands, which are part of our Outdoor Products segment. The decision to sell this business reflects our ongoing review of our portfolio of brands to focus on assets that are core to our mission and strategy. The sale of these brands is expected to be completed in the next few quarters. The operating results of this business do not qualify for reporting as discontinued operations. For the three months ended December 31, 2017 and January 1, 2017 , the earnings before taxes for this business were approximately $4,409 and $2,431 , respectively. For the nine months ended December 31, 2017 and January 1, 2017 , the earnings before taxes were approximately $9,449 and $6,221 , respectively. The earnings before taxes above include $697 and $2,076 of total depreciation and amortization expense for the three months ended December 31, 2017 and January 1, 2017 , respectively. The total depreciation and amortization expense for the nine months ended December 31, 2017 and January 1, 2017 , was $4,883 and $6,228 , respectively. The reported results and financial position of the business do not necessarily reflect the total value of the business that we expect to realize upon sale. The following table presents information related to the assets and liabilities of the business that were classified as held for sale at December 31, 2017 : (Amounts in thousands except share data) December 31, 2017 Assets Net receivables $ 30,961 Net inventories 32,487 Income tax receivable 151 Other current assets 4,368 Net property, plant, and equipment 3,451 Goodwill 63,688 Net intangible assets 75,047 Total assets held for sale $ 210,153 Liabilities Accounts payable $ 6,552 Accrued compensation 3,283 Deferred tax liabilities 15,667 Other accrued liabilities 16,784 Total liabilities held for sale $ 42,286 Net assets $ 167,867

Acquisitions

Acquisitions	9 Months Ended
	Dec. 31, 2017
Business Combinations [Abstract]
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 was deferred and is payable in equal installments after the first, second and third anniversary of the closing date, and approximately $10,000 is payable over a three-year period from the closing date if certain incremental growth milestones are met and key members of Camp Chef management continue their employment with us through the respective milestone dates. The approximately $10,000 is being expensed over the three-year measurement period and is paid in equal installments as each milestone is achieved. The growth milestones were met for the first year and therefore we paid $3,371 during the quarter ended December 31, 2017. The purchase price allocation for this acquisition was finalized in the second quarter of fiscal 2018. A majority of the goodwill generated in this acquisition will be deductible for tax purposes. Camp Chef is an immaterial acquisition to our company. Results for acquisitions —For the three and nine months ended December 31, 2017, we recorded sales of $0 and $32,752 , respectively, and gross profit of $0 and $9,947 , respectively, associated with the operations of Camp Chef for periods in which it was not part of Vista Outdoor in the comparable prior periods. For the three and nine months ended January 1, 2017 , we recorded sales of $12,151 and $15,751 , and gross profit of $3,149 and $3,860 , respectively, associated with the operations of Camp Chef. The results are reflected in the Outdoor Products segment results. 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 is payable if certain 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 actually 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 December 31, 2017 , the value of the future contingent consideration was $3,832 . The decrease from the original estimate was primarily a result of reduced profitability forecasts over the remainder of the earn-out period. 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. The following amounts represent the final determination of the fair value of identifiable assets acquired and liabilities assumed 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 earn-out 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	9 Months Ended
	Dec. 31, 2017
Receivables [Abstract]
Net Receivables	Net Receivables Net receivables are summarized as follows: December 31, 2017 March 31, 2017 Trade receivables $ 433,049 $ 472,233 Other receivables 1,537 3,136 Less: allowance for doubtful accounts and discounts (24,683 ) (24,654 ) Net receivables $ 409,903 $ 450,715 As of December 31, 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 December 31, 2017 and March 31, 2017 .

Net Inventories

Net Inventories	9 Months Ended
	Dec. 31, 2017
Inventory Disclosure [Abstract]
Net Inventories	Net Inventories Net inventories consist of the following: December 31, 2017 March 31, 2017 Raw materials $ 101,254 $ 101,635 Work in process 43,536 51,004 Finished goods 269,572 410,156 Net inventories $ 414,362 $ 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 net of reserves within deferred charges and other non-current assets and totaled $32,067 and $23,504 as of December 31, 2017 and March 31, 2017 , respectively.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Dec. 31, 2017
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The components of AOCL, net of income taxes, are as follows: December 31, 2017 March 31, 2017 Pension and other postretirement benefits $ (56,411 ) $ (56,929 ) Derivatives 808 — Cumulative translation adjustment (39,600 ) (56,063 ) Total AOCL $ (95,203 ) $ (112,992 ) The following tables summarize the changes in the balance of AOCL, net of income tax: Quarter ended December 31, 2017 Nine months ended December 31, 2017 Derivatives Pension and other postretirement benefits Cumulative translation adjustment Total Derivatives Pension and other postretirement benefits Cumulative translation adjustment Total Beginning balance in AOCL $ 23 $ (55,632 ) $ (40,391 ) $ (96,000 ) $ — $ (56,929 ) $ (56,063 ) $ (112,992 ) Net actuarial losses reclassified from AOCL (1) — 472 — 472 — 2,087 — 2,087 Prior service costs reclassified from AOCL (1) — (49 ) — (49 ) — (372 ) — (372 ) Valuation adjustment for pension and postretirement benefit plans (2) — (1,202 ) — (1,202 ) (1,197 ) — (1,197 ) Net increase in fair value of derivatives 785 — — 785 808 — — 808 Net change in cumulative translation adjustment — — 791 791 — — 16,463 16,463 Ending balance in AOCL $ 808 $ (56,411 ) $ (39,600 ) $ (95,203 ) $ 808 $ (56,411 ) $ (39,600 ) $ (95,203 ) (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 13, Employee Benefit Plans, for a description of the pension curtailment gain recognized in the quarter ended July 2, 2017. Quarter ended January 1, 2017 Nine months ended January 1, 2017 Pension and other postretirement benefits Cumulative translation adjustment Total Pension and other postretirement benefits Cumulative translation adjustment Total Beginning balance in AOCL $ (61,743 ) $ (51,091 ) $ (112,834 ) $ (63,667 ) $ (46,547 ) $ (110,214 ) Net actuarial losses reclassified from AOCL (1) 1,236 — 1,236 3,708 — 3,708 Prior service costs reclassified from AOCL (1) (274 ) — (274 ) (822 ) — (822 ) Net change in cumulative translation adjustment — (10,711 ) (10,711 ) — (15,255 ) (15,255 ) Ending balance in AOCL $ (60,781 ) $ (61,802 ) $ (122,583 ) $ (60,781 ) $ (61,802 ) $ (122,583 ) (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	9 Months Ended
	Dec. 31, 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 Impairment (143,400 ) — (143,400 ) Effect of foreign currency exchange rates 6,815 327 7,142 Less: goodwill held for sale (63,688 ) — (63,688 ) Balance, December 31, 2017 $ 452,623 $ 205,062 $ 657,685 During the quarter ended October 1, 2017, we recorded a $152,320 impairment of goodwill and identifiable intangible assets related to the Hunting and Shooting Accessories and Sports Protection reporting units. The company previously anticipated a return to sales growth in fiscal 2018 for these reporting units. However, during the quarter ended October 1, 2017, the company concluded that the return to growth for these reporting units would take longer than previously anticipated as a result of challenging market conditions that have persisted longer than expected. As a result, we reduced the projected cash flows for these reporting units to reflect the lower expected sales volume and profit margins. Given the reduction in our internal projections for these reporting units, we determined a triggering event had occurred, which indicated it was more likely than not that the fair values of these reporting units were less than the respective book values. The fair value of both reporting units was determined using both an income and market approach. The value under the income approach is estimated using a discounted cash flow model that requires us to make significant estimates regarding future revenues and expenses, projected capital expenditures, changes in working capital, and the appropriate discount rate. The estimated value under the income approach is weighted equally against the estimated value under the market approach that reflects the price reasonably expected to be realized from the sale of the reporting unit based on transactions involving comparable companies. The excess book value over fair value, and resulting goodwill impairment recorded during the quarter ended October 1, 2017, in our Hunting and Shooting Accessories reporting unit was $69,734 . To determine the fair value under the income approach, we used a discount rate of 8% and a terminal growth rate of 3% . During the quarter ended October 1, 2017, we also performed an interim test for indefinite lived tradename impairment and we recorded a $7,220 impairment related to our Bushnell and Weaver tradenames. We determined the fair value of the indefinite lived tradenames using a royalty rate of 2% . The excess book value over fair value, and resulting goodwill impairment recorded during the quarter ended October 1, 2017, in our Sports Protection reporting unit was $73,666 . To determine the fair value under the income approach, we used a discount rate of 8% and a terminal growth rate of 3% . During the quarter ended October 1, 2017, we also performed an interim test for indefinite lived tradename impairment and we recorded a $1,700 impairment related to our Giro tradename. We determined the fair value of the indefinite lived tradename using a royalty rate of 3% . We evaluated our other reporting units during the quarter ended October 1, 2017 and concluded that it was not more likely than not that the book values of the reporting units exceeded their fair values. However, we estimate that the excess of fair value over book value in our Outdoor Recreation and Firearms reporting units is less than 5% . Should the challenging retail environment last longer or be deeper than currently expected, if new product developments do not succeed, or if the discount rate were to increase, it is possible that the estimated fair value of these other reporting units could fall below their book value, which could necessitate further impairment of the goodwill and other intangible assets. We will continue to assess our reporting units for potential triggering events and will perform our annual impairment test as of the first day of the fourth quarter each year. The goodwill recorded within the Outdoor Products segment is presented net of $545,106 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. The remeasurement of goodwill and intangible assets is classified as a Level 3 fair value assessment as described in Note 2, Fair Value of Financial Instruments, due to the significance of unobservable inputs developed using company-specific information. Net intangible assets other than goodwill consisted of the following: December 31, 2017 March 31, 2017 Gross Accumulated Total Gross Accumulated Total Trade names $ 62,659 $ (10,710 ) $ 51,949 $ 106,159 $ (17,048 ) $ 89,111 Patented technology 16,466 (7,931 ) 8,535 19,066 (7,703 ) 11,363 Customer relationships and other 318,531 (84,557 ) 233,974 371,099 (78,010 ) 293,089 Total 397,656 (103,198 ) 294,458 496,324 (102,761 ) 393,563 Non-amortizing trade names 306,047 — 306,047 314,967 — 314,967 Net intangible assets $ 703,703 $ (103,198 ) $ 600,505 $ 811,291 $ (102,761 ) $ 708,530 The amortizable assets in the table above are being amortized using a straight-line method over a weighted average remaining period of approximately 12.5 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 segment is presented net of $8,920 and $34,230 of impairment losses recorded in fiscal 2018 and fiscal 2017, respectively; and, the amount of non-amortizing tradename intangible assets in the Shooting Sports segment is presented net of $11,200 of impairment losses recorded in fiscal 2015. Amortization expense for the quarters ended December 31, 2017 and January 1, 2017 was $8,400 and $10,627 , respectively, and for the nine months ended December 31, 2017 and January 1, 2017 was $26,653 and $31,020 , respectively. As of December 31, 2017 , we expect amortization expense related to these assets to be as follows: Remainder of fiscal 2018 $ 7,531 Fiscal 2019 27,380 Fiscal 2020 26,553 Fiscal 2021 26,537 Fiscal 2022 26,530 Thereafter 179,927 Total $ 294,458

Other Current and Non-current L

Other Current and Non-current Liabilities	9 Months Ended
	Dec. 31, 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: December 31, 2017 March 31, 2017 Other current liabilities: Accrual for in-transit inventory $ 28,045 $ 17,505 Rebate accrual 26,533 19,325 Other 56,568 86,096 Total other current liabilities $ 111,146 $ 122,926 Other non-current liabilities: Non-current portion of accrued income tax liability $ 37,720 $ 32,842 Other 33,909 38,204 Total other non-current liabilities $ 71,629 $ 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 the lifetime of the product. 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 (3,832 ) Warranties issued 3,643 Changes related to preexisting warranties 170 Balance, December 31, 2017 $ 9,995

Long-term Debt

Long-term Debt	9 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt Long-term debt, including the current portion, consisted of the following: December 31, 2017 March 31, 2017 Credit Agreement: Term Loan $ 584,000 $ 608,000 Revolving Credit Facility 15,000 175,000 Total principal amount of Credit Agreement 599,000 783,000 5.875% Senior Notes 350,000 350,000 Principal amount of long-term debt 949,000 1,133,000 Less: unamortized deferred financing costs (11,292 ) (11,748 ) Carrying amount of long-term debt 937,708 1,121,252 Less: current portion (32,000 ) (32,000 ) Carrying amount of long-term debt, excluding current portion $ 905,708 $ 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 December 31, 2017 , the base rate margin was 1.25% and the Eurodollar margin was 2.25% . The weighted average interest rate for our borrowings under the Credit Agreement as of December 31, 2017 was 3.82% , 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 0.40% . As of December 31, 2017 , we had $15,000 in borrowings against our $400,000 Revolving Credit Facility and had outstanding letters of credit of $26,824 , which reduced amounts available on the Revolving Credit Facility to $358,176 . 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 4.75 to 1.00 through the fiscal quarter ending December 30, 2018, 4.25 to 1.00 from the fiscal quarter ending March 31, 2019 through December 29, 2019; and 4.00 to 1.00 thereafter. The Amendment also provides that the Consolidated Senior Secured Leverage Ratio (as defined in the Credit Agreement) must not exceed 3.50 to 1.00 through the fiscal quarter ending December 30, 2018, and 3.00 to 1.00 thereafter. In addition, the limitation on Restricted Payments (as defined in the Credit Agreement) was amended. Also amended were the rates at which borrowings under the Revolving Credit Facility and Term A Loan bear interest and the commitment fee for unused commitments under the Revolving Credit Facility, all of which vary 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. During the quarter ended December 31, 2017, we conducted a review of our outstanding debt instruments and initiated discussions with our banks regarding refinancing our current Credit Agreement with an asset-based loan (ABL) and a new term loan. We believe that this change could provide us with additional flexibility to operate efficiently in a challenging market environment. Subject to debt market conditions, we anticipate finalizing the refinancing in the next two quarters. In order to allow us sufficient time to execute the refinancing, we have requested and received from our lenders a waiver of our Consolidated Leverage Ratio requirement for the quarter ending March 31, 2018. 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. The Credit Agreement and the indenture governing the 5.875% Notes contain cross-default provisions so that non-compliance with the covenants within one debt agreement could also cause a default under the other debt agreement. As of December 31, 2017, we were in compliance with the covenants of both debt agreements. However, we cannot provide assurance that we will be able to comply with such financial covenants in the future, or complete the refinancing activity mentioned above, because of various risks and uncertainties some of which may be beyond our control. 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 of Vista Outdoor 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 of Vista Outdoor. 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. As of December 31, 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 $ 529 1.519% 1.569% June 2019 Non-amortizing swap 100,000 921 1.629% 1.569% June 2020 The amount to be paid or received under these swaps is recorded as an adjustment to interest expense. The asset related to the swaps is recorded as part of other current assets. Cash paid for interest on debt —Cash paid for interest on debt, including commitment fees, for the nine months ended December 31, 2017 and January 1, 2017 totaled $39,722 and $36,663 , respectively.

Employee Benefit Plans

Employee Benefit Plans	9 Months Ended
	Dec. 31, 2017
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans During the quarter ended December 31, 2017 , we recognized an aggregate net expense for employee defined benefit plans of $0 compared to $1,690 in the quarter ended January 1, 2017 . The decrease was primarily due to lower amortization of previously unrecognized losses, and lower service costs due to the pension curtailment recognized in the quarter ended July 2, 2017, as discussed below. For the nine months ended December 31, 2017 and January 1, 2017 , we recognized an aggregate net expense for employee benefit plans of $1,506 and $5,072 , respectively. The decrease was primarily due to the pension curtailment gain recognized in the quarter ended July 2, 2017, as discussed below, and lower service costs as a result of the curtailment. The decreases were offset by the additional expense during the quarter ended October 1, 2017 as a result of benefits for retiring executives as well as lower amortization of previously unrecognized losses. Employer contributions and distributions —During the nine months ended December 31, 2017 , we made the legally required contribution of $8,800 directly to the pension trust, made no contributions to our other postretirement benefit plans, and made no distributions directly to retirees under the non-qualified supplemental executive retirement plan. During the nine months ended January 1, 2017 , we contributed $4,400 directly to the pension trust, made no contributions to our other postretirement benefit plans, and made distributions of $10 to retirees under the non-qualified supplemental executive retirement plan. We expect to make no additional contributions directly to the pension trust, and we expect to contribute approximately $159 to our other postretirement benefit plans, and to 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 was 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	9 Months Ended
	Dec. 31, 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 December 31, 2017 and January 1, 2017 represent effective tax rates of (725.3)% and 4.4% , respectively. The decrease in the rate from the prior year quarter is primarily caused by the income tax effects of The Tax Cuts and Jobs Act (the "Tax Legislation"). The effective tax rates for the quarters ended December 31, 2017 and January 1, 2017 were lower than the statutory rates primarily because of the impact of the Tax Legislation in the current period and the goodwill impairment in the prior period, respectively. The income tax provisions for the nine months ended December 31, 2017 and January 1, 2017 represent effective tax rates of 58.3% and (8.5)% , respectively. The increase in the rate from the prior year period is primarily caused by income tax effects of the Tax Legislation in the current quarter and nondeductible goodwill impairment charges in the current and prior years partially offset by the prior year nontaxable acquisition claim settlement gain. The effective tax rate for the nine months ended December 31, 2017 was higher than the statutory rate primarily because of the effects of the Tax Legislation in the current period. The effective tax rate for the nine months ended January 1, 2017 was lower than the statutory rate primarily because of the impact of the goodwill impairment in the prior period. On December 22, 2017, the Tax Legislation was enacted in the United States. The Tax Legislation significantly revises the corporate income tax by, among other things, lowering corporate income tax rates, limiting various deductions, repealing the domestic manufacturing deduction, implementing a territorial tax system, and imposing a repatriation tax on deemed repatriated earnings of foreign subsidiaries. We estimate the impact of the Tax Legislation, based on currently available information and interpretations of the law, to be a benefit to us of approximately $48 million which has been included in our current period tax benefit. The majority of the tax benefit is due to remeasurement of the U.S. deferred tax liabilities at lower enacted corporate tax rates, which did not have a cash impact on the current quarter. The actual impact of the Tax Legislation may differ from this estimate, possibly materially, due to, among other things, changes in interpretations and assumptions we have made, guidance that may be issued, and actions we may take as a result of the Tax Legislation. On February 9, 2015, 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 process under the Tax Matters Agreement for determining the final allocation of pre-Spin-Off tax liabilities between Vista Outdoor and Orbital ATK is ongoing. During the quarter ended December 31, 2017, we received Orbital ATK’s proposed allocation of these tax liabilities for the period from April 1, 2014 through the date of the Spin-Off. Given the complex nature of these tax matters, the final allocation of pre-Spin-Off tax liabilities between Vista Outdoor and Orbital ATK is highly uncertain. Though the resolution of these tax liabilities under the Tax Matters Agreement may have a significant impact on our cash position in a particular quarter, we do not expect this resolution to have a material impact on our business. 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 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 file 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 income tax audit settlements are uncertain, it is reasonably possible that a $4,165 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 $3,542 .

Contingencies

Contingencies	9 Months Ended
	Dec. 31, 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 $736 and $750 as of December 31, 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	9 Months Ended
	Dec. 31, 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. The consolidating financial information of the guarantor and non-guarantor subsidiaries is presented on the following pages. Within the last four fiscal quarters, the domestic subsidiary included in our most recent acquisition (Camp Chef) was added to the list of guarantors of our 5.875% Notes. As a result, we revised the prior period guarantors and non-guarantors financial statements presented as if the new guarantor structure (as of the balance sheet date) existed for all periods presented. VISTA OUTDOOR INC. CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (unaudited) Quarter ended December 31, 2017 (Amounts in thousands) Parent Issuer Guarantors Non-Guarantors Eliminations Consolidated Sales, net $ — $ 538,734 $ 65,441 $ (22,971 ) $ 581,204 Cost of sales — 432,385 46,680 (23,966 ) 455,099 Gross profit — 106,349 18,761 995 126,105 Operating expenses: Research and development — 6,875 — — 6,875 Selling, general, and administrative — 85,669 14,555 — 100,224 Income (loss) before interest and income taxes — 13,805 4,206 995 19,006 Equity in income of subsidiaries 61,585 4,326 — (65,911 ) — Interest expense, net (12,494 ) — — — (12,494 ) Income (loss) before income taxes 49,091 18,131 4,206 (64,916 ) 6,512 Income tax provision (benefit) (4,652 ) (43,454 ) 508 367 (47,231 ) Net income (loss) $ 53,743 $ 61,585 $ 3,698 $ (65,283 ) $ 53,743 Other comprehensive income (loss), net of tax: Net income (loss) (from above) $ 53,743 $ 61,585 $ 3,698 $ (65,283 ) $ 53,743 Total other comprehensive income 797 797 791 (1,588 ) 797 Comprehensive income (loss) $ 54,540 $ 62,382 $ 4,489 $ (66,871 ) $ 54,540 Quarter ended January 1, 2017 (Amounts in thousands) Parent Issuer Guarantors Non-Guarantors Eliminations Consolidated Sales, net $ — $ 631,292 $ 57,352 $ (35,086 ) $ 653,558 Cost of sales — 478,603 40,801 (34,452 ) 484,952 Gross profit — 152,689 16,551 (634 ) 168,606 Operating expenses: Research and development — 8,170 — — 8,170 Selling, general, and administrative — 82,214 13,679 — 95,893 Goodwill and intangibles impairment — 449,199 — — 449,199 Income before interest and income taxes — (386,894 ) 2,872 (634 ) (384,656 ) Equity in income of subsidiaries (371,067 ) 1,221 — 369,846 — Interest expense, net (10,551 ) — — — (10,551 ) Income before income taxes (381,618 ) (385,673 ) 2,872 369,212 (395,207 ) Income tax provision (benefit) (3,959 ) (14,606 ) 1,263 (246 ) (17,548 ) Net income $ (377,659 ) $ (371,067 ) $ 1,609 $ 369,458 $ (377,659 ) Other comprehensive income, net of tax: Net income (from above) $ (377,659 ) $ (371,067 ) $ 1,609 $ 369,458 $ (377,659 ) Total other comprehensive income (9,749 ) (9,749 ) (10,711 ) 20,460 (9,749 ) Comprehensive income $ (387,408 ) $ (380,816 ) $ (9,102 ) $ 389,918 $ (387,408 ) VISTA OUTDOOR INC. CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (unaudited) Nine months ended December 31, 2017 (Amounts in thousands) Parent Issuer Guarantors Non-Guarantors Eliminations Consolidated Sales, net $ — $ 1,632,646 $ 170,682 $ (66,092 ) $ 1,737,236 Cost of sales — 1,276,170 117,271 (67,845 ) 1,325,596 Gross profit — 356,476 53,411 1,753 411,640 Operating expenses: Research and development — 22,113 — — 22,113 Selling, general, and administrative — 267,195 38,841 — 306,036 Goodwill and intangibles impairment — 102,320 50,000 — 152,320 Income (loss) before interest and income taxes — (35,152 ) (35,430 ) 1,753 (68,829 ) Equity in income of subsidiaries (20,805 ) (38,847 ) — 59,652 — Interest expense, net (37,456 ) — — — (37,456 ) Income (loss) before income taxes (58,261 ) (73,999 ) (35,430 ) 61,405 (106,285 ) Income tax provision (benefit) (13,951 ) (53,194 ) 4,549 621 (61,975 ) Net income (loss) $ (44,310 ) $ (20,805 ) $ (39,979 ) $ 60,784 $ (44,310 ) Other comprehensive (loss) income, net of tax: Net income (loss) (from above) $ (44,310 ) $ (20,805 ) $ (39,979 ) $ 60,784 $ (44,310 ) Total other comprehensive income 17,789 17,789 16,463 (34,252 ) 17,789 Comprehensive loss $ (26,521 ) $ (3,016 ) $ (23,516 ) $ 26,532 $ (26,521 ) Nine months ended January 1, 2017 (Amounts in thousands) Parent Issuer Guarantors Non-Guarantors Eliminations Consolidated Sales, net $ — $ 1,888,699 $ 169,012 $ (89,572 ) $ 1,968,139 Cost of sales — 1,419,712 111,710 (88,675 ) 1,442,747 Gross profit — 468,987 57,302 (897 ) 525,392 Operating expenses: Research and development — 24,202 (51 ) — 24,151 Selling, general, and administrative — 260,205 42,855 — 303,060 Acquisition claim settlement gain, net (30,027 ) — — — (30,027 ) Goodwill and intangibles impairment — 449,199 — — 449,199 Income before interest and income taxes 30,027 (264,619 ) 14,498 (897 ) (220,991 ) Equity in income of subsidiaries (284,930 ) 8,536 — 276,394 — Interest expense, net (32,657 ) — — — (32,657 ) Income before income taxes (287,560 ) (256,083 ) 14,498 275,497 (253,648 ) Income tax provision (benefit) (12,249 ) 28,847 5,398 (333 ) 21,663 Net income $ (275,311 ) $ (284,930 ) $ 9,100 $ 275,830 $ (275,311 ) Other comprehensive income, net of tax: Net income (from above) (275,311 ) (284,930 ) 9,100 275,830 (275,311 ) Total other comprehensive loss (12,369 ) (12,369 ) (15,255 ) 27,624 (12,369 ) Comprehensive income $ (287,680 ) $ (297,299 ) $ (6,155 ) $ 303,454 $ (287,680 ) VISTA OUTDOOR INC. CONDENSED CONSOLIDATED BALANCE SHEET (unaudited) December 31, 2017 (Amounts in thousands) Parent Issuer Guarantors Non-Guarantors Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ — $ 44,478 $ 18,801 $ — $ 63,279 Net receivables — 384,867 25,036 — 409,903 Due from affiliates, current — — 10,978 (10,978 ) — Net inventories — 395,533 22,086 (3,257 ) 414,362 Assets held for sale — 73,741 136,412 — 210,153 Other current assets — 24,992 (1,492 ) — 23,500 Total current assets — 923,611 211,821 (14,235 ) 1,121,197 Net property, plant, and equipment — 259,796 7,695 — 267,491 Investment in subsidiaries 2,366,342 160,228 — (2,526,570 ) — Goodwill — 652,263 5,422 — 657,685 Net intangible assets — 592,349 8,156 — 600,505 Long-term due from affiliates — 235,358 — (235,358 ) — Deferred charges and other non-current assets — 27,977 7,088 — 35,065 Total assets $ 2,366,342 $ 2,851,582 $ 240,182 $ (2,776,163 ) $ 2,681,943 LIABILITIES AND EQUITY Current liabilities: Current portion of long-term debt $ 32,000 $ — $ — $ — $ 32,000 Accounts payable — 103,188 5,203 — 108,391 Due to affiliates, current — 10,978 — (10,978 ) — Accrued compensation — 39,293 232 — 39,525 Accrued income taxes — 3,744 (111 ) (2,846 ) 787 Federal excise tax — 21,748 2,365 — 24,113 Liabilities held for sale — 14,687 27,599 — 42,286 Other current liabilities — 106,795 4,351 — 111,146 Total current liabilities 32,000 300,433 39,639 (13,824 ) 358,248 Long-term debt 905,708 — — — 905,708 Deferred income tax liabilities — 67,655 979 1,656 70,290 Accrued pension and postemployment benefits — 45,791 — — 45,791 Long-term due to affiliates 198,357 — 37,001 (235,358 ) — Other long-term liabilities — 70,568 1,061 — 71,629 Total liabilities 1,136,065 484,447 78,680 (247,526 ) 1,451,666 Equity Total stockholders' equity 1,230,277 2,367,135 161,502 (2,528,637 ) 1,230,277 Total liabilities and stockholders' equity $ 2,366,342 $ 2,851,582 $ 240,182 $ (2,776,163 ) $ 2,681,943 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 current 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) Nine months ended December 31, 2017 (Amounts in thousands) Parent Issuer Guarantors Non-Guarantors Eliminations Consolidated Operating Activities: Cash provided by (used for) operating activities $ (21,251 ) $ 256,539 $ 7,819 $ — $ 243,107 Investing Activities: Capital expenditures — (42,744 ) (817 ) — (43,561 ) Due from affiliates — (192,374 ) — 192,374 — Proceeds from the disposition of property, plant, and equipment — 30 58 — 88 Cash provided by (used for) investing activities — (235,088 ) (759 ) 192,374 (43,473 ) Financing Activities: Due to (from) affiliates 204,167 — (11,793 ) (192,374 ) — Borrowings on line of credit 250,000 — — — 250,000 Payments made on line of credit (410,000 ) — — — (410,000 ) Payments made on long-term debt (24,000 ) — — — (24,000 ) Payments made for debt issuance costs (1,805 ) — — — (1,805 ) Deferred payments for acquisitions (1,348 ) — — — (1,348 ) Proceeds from employee stock compensation plans 4,237 — — — 4,237 Cash provided by (used for) financing activities 21,251 — (11,793 ) (192,374 ) (182,916 ) Effect of foreign exchange rate fluctuations on cash — — 1,486 — 1,486 (Decrease) increase in cash and cash equivalents — 21,451 (3,247 ) — 18,204 Cash and cash equivalents at beginning of period — 23,027 22,048 — 45,075 Cash and cash equivalents at end of period $ — $ 44,478 $ 18,801 $ — $ 63,279 VISTA OUTDOOR INC. CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (unaudited) Nine months ended January 1, 2017 (Amounts in thousands) Parent Issuer Guarantors Non-Guarantors Eliminations Consolidated Operating Activities: Cash provided by (used for) operating activities $ 11,298 $ 42,021 $ 4,572 $ — $ 57,891 Investing Activities: Capital expenditures — (48,443 ) (859 ) — (49,302 ) Due from affiliates — (116,584 ) — 116,584 — Acquisition of businesses, net of cash acquired (465,684 ) 7,149 386 — (458,149 ) Proceeds from the disposition of property, plant, and equipment — 42 50 — 92 Cash used for investing activities (465,684 ) (157,836 ) (423 ) 116,584 (507,359 ) Financing Activities: Due to (from) affiliates 114,467 — 2,117 (116,584 ) — Borrowings on line of credit 445,000 — — — 445,000 Payments made on line of credit (255,000 ) — — — (255,000 ) Proceeds from issuance of long-term debt 307,500 — — — 307,500 Payments made on long-term debt (24,000 ) — — — (24,000 ) Payments made for debt issuance costs (3,660 ) — — — (3,660 ) Purchase of treasury shares (122,860 ) — — — (122,860 ) Deferred payments for acquisitions (7,136 ) — — — (7,136 ) Proceeds from employee stock compensation plans 75 — — — 75 Cash provided by financing activities 454,386 — 2,117 (116,584 ) 339,919 Effect of foreign exchange rate fluctuations on cash — — (1,302 ) — (1,302 ) (Decrease) in cash and cash equivalents — (115,815 ) 4,964 — (110,851 ) Cash and cash equivalents at beginning of period — 133,503 18,189 — 151,692 Cash and cash equivalents at end of period $ — $ 17,688 $ 23,153 $ — $ 40,841

Operating Segment Information

Operating Segment Information	9 Months Ended
	Dec. 31, 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 approximately 51% of our external sales in the nine months ended December 31, 2017 . The Outdoor Products product lines are action sports, archery/hunting accessories, camping, 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 approximately 49% of our external sales in the nine months ended December 31, 2017 . Shooting Sports product lines include centerfire ammunition, rimfire ammunition, shotshell ammunition, reloading components, and firearms. Walmart contributed 14% and 11% of our sales in the nine months ended December 31, 2017 and January 1, 2017 , respectively. No other single customer contributed 10% or more of our sales in the quarters ended December 31, 2017 and January 1, 2017 . The following summarizes our results by segment: Quarter ended Nine months ended December 31, 2017 January 1, 2017 December 31, 2017 January 1, 2017 Sales to external customers: Outdoor Products $ 294,878 $ 292,800 $ 876,489 $ 900,981 Shooting Sports 286,326 360,758 860,747 1,067,158 Total sales to external customers $ 581,204 $ 653,558 $ 1,737,236 $ 1,968,139 Gross Profit Outdoor Products $ 74,175 $ 71,161 $ 226,293 $ 235,818 Shooting Sports 51,986 97,560 185,645 290,010 Corporate (56 ) (115 ) (298 ) (436 ) Total gross profit $ 126,105 $ 168,606 $ 411,640 $ 525,392 The sales above exclude intercompany sales between Outdoor Products and Shooting Sports of $1,946 and $1,769 for the quarters ended December 31, 2017 and January 1, 2017 , respectively. The sales above exclude intercompany sales between Outdoor Products and Shooting Sports of $4,198 and $3,518 for the nine months ended December 31, 2017 and January 1, 2017 , respectively.

Subsequent Events

Subsequent Events	9 Months Ended
	Dec. 31, 2017
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events As discussed in Note 12, Long-term Debt , in February 2018 we received from our Credit Agreement lenders a waiver of our Consolidated Leverage Ratio requirement for the quarter ending March 31, 2018.

Basis of Presentation and Res26

Basis of Presentation and Responsibility for Interim Financial Statements (Policies)	9 Months Ended
	Dec. 31, 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 us 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 and related disclosures. We currently believe that the financial results from the majority of our businesses will not be impacted; although there could be immaterial changes to how we present sales returns reserves and related amounts in our financial statements. We 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 of this new guidance 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 Instr27

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Dec. 31, 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: December 31, 2017 March 31, 2017 Carrying Fair Carrying Fair Fixed-rate debt $ 350,000 $ 341,684 $ 350,000 $ 341,250 Variable-rate debt 599,000 599,000 783,000 783,000

Derivative Financial Instrume28

Derivative Financial Instruments (Tables)	9 Months Ended
	Dec. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional Amounts of Outstanding Derivative Positions	As of December 31, 2017 , we had outstanding foreign currency forward contracts in place for the following amounts: Notional Amount of Currency Sale of foreign currency: Euro 3,466

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Dec. 31, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	In computing EPS for the three and nine months ended December 31, 2017 and January 1, 2017 , earnings, as reported for each respective period, is divided by the number of shares below: Quarter ended Nine months ended (in thousands) December 31, 2017 January 1, 2017 December 31, 2017 January 1, 2017 Basic EPS shares outstanding 57,253 58,275 57,113 59,478 Dilutive effect of stock-based awards 41 359 — 341 Diluted EPS shares outstanding 57,294 58,634 57,113 59,819 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 236 139 149 139

Assets and Liabilities Held f30

Assets and Liabilities Held for Sale (Tables)	9 Months Ended
	Dec. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	The following table presents information related to the assets and liabilities of the business that were classified as held for sale at December 31, 2017 : (Amounts in thousands except share data) December 31, 2017 Assets Net receivables $ 30,961 Net inventories 32,487 Income tax receivable 151 Other current assets 4,368 Net property, plant, and equipment 3,451 Goodwill 63,688 Net intangible assets 75,047 Total assets held for sale $ 210,153 Liabilities Accounts payable $ 6,552 Accrued compensation 3,283 Deferred tax liabilities 15,667 Other accrued liabilities 16,784 Total liabilities held for sale $ 42,286 Net assets $ 167,867

Net Receivables (Tables)

Net Receivables (Tables)	9 Months Ended
	Dec. 31, 2017
Receivables [Abstract]
Schedule of receivables, including amounts due under long-term contracts (contract receivables)	Net receivables are summarized as follows: December 31, 2017 March 31, 2017 Trade receivables $ 433,049 $ 472,233 Other receivables 1,537 3,136 Less: allowance for doubtful accounts and discounts (24,683 ) (24,654 ) Net receivables $ 409,903 $ 450,715

Net Inventories (Tables)

Net Inventories (Tables)	9 Months Ended
	Dec. 31, 2017
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Net inventories consist of the following: December 31, 2017 March 31, 2017 Raw materials $ 101,254 $ 101,635 Work in process 43,536 51,004 Finished goods 269,572 410,156 Net inventories $ 414,362 $ 562,795

Accumulated Other Comprehensi33

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Dec. 31, 2017
Equity [Abstract]
Schedule of components of AOCL, net of income taxes	The components of AOCL, net of income taxes, are as follows: December 31, 2017 March 31, 2017 Pension and other postretirement benefits $ (56,411 ) $ (56,929 ) Derivatives 808 — Cumulative translation adjustment (39,600 ) (56,063 ) Total AOCL $ (95,203 ) $ (112,992 )
Schedule of changes in balance of AOCL, net of income taxes	The following tables summarize the changes in the balance of AOCL, net of income tax: Quarter ended December 31, 2017 Nine months ended December 31, 2017 Derivatives Pension and other postretirement benefits Cumulative translation adjustment Total Derivatives Pension and other postretirement benefits Cumulative translation adjustment Total Beginning balance in AOCL $ 23 $ (55,632 ) $ (40,391 ) $ (96,000 ) $ — $ (56,929 ) $ (56,063 ) $ (112,992 ) Net actuarial losses reclassified from AOCL (1) — 472 — 472 — 2,087 — 2,087 Prior service costs reclassified from AOCL (1) — (49 ) — (49 ) — (372 ) — (372 ) Valuation adjustment for pension and postretirement benefit plans (2) — (1,202 ) — (1,202 ) (1,197 ) — (1,197 ) Net increase in fair value of derivatives 785 — — 785 808 — — 808 Net change in cumulative translation adjustment — — 791 791 — — 16,463 16,463 Ending balance in AOCL $ 808 $ (56,411 ) $ (39,600 ) $ (95,203 ) $ 808 $ (56,411 ) $ (39,600 ) $ (95,203 ) (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 13, Employee Benefit Plans, for a description of the pension curtailment gain recognized in the quarter ended July 2, 2017. Quarter ended January 1, 2017 Nine months ended January 1, 2017 Pension and other postretirement benefits Cumulative translation adjustment Total Pension and other postretirement benefits Cumulative translation adjustment Total Beginning balance in AOCL $ (61,743 ) $ (51,091 ) $ (112,834 ) $ (63,667 ) $ (46,547 ) $ (110,214 ) Net actuarial losses reclassified from AOCL (1) 1,236 — 1,236 3,708 — 3,708 Prior service costs reclassified from AOCL (1) (274 ) — (274 ) (822 ) — (822 ) Net change in cumulative translation adjustment — (10,711 ) (10,711 ) — (15,255 ) (15,255 ) Ending balance in AOCL $ (60,781 ) $ (61,802 ) $ (122,583 ) $ (60,781 ) $ (61,802 ) $ (122,583 ) (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 A34

Goodwill and Net Intangible Assets (Tables)	9 Months Ended
	Dec. 31, 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 Impairment (143,400 ) — (143,400 ) Effect of foreign currency exchange rates 6,815 327 7,142 Less: goodwill held for sale (63,688 ) — (63,688 ) Balance, December 31, 2017 $ 452,623 $ 205,062 $ 657,685
Schedule of net intangibles	Net intangible assets other than goodwill consisted of the following: December 31, 2017 March 31, 2017 Gross Accumulated Total Gross Accumulated Total Trade names $ 62,659 $ (10,710 ) $ 51,949 $ 106,159 $ (17,048 ) $ 89,111 Patented technology 16,466 (7,931 ) 8,535 19,066 (7,703 ) 11,363 Customer relationships and other 318,531 (84,557 ) 233,974 371,099 (78,010 ) 293,089 Total 397,656 (103,198 ) 294,458 496,324 (102,761 ) 393,563 Non-amortizing trade names 306,047 — 306,047 314,967 — 314,967 Net intangible assets $ 703,703 $ (103,198 ) $ 600,505 $ 811,291 $ (102,761 ) $ 708,530
Schedule of expected future amortization expense	As of December 31, 2017 , we expect amortization expense related to these assets to be as follows: Remainder of fiscal 2018 $ 7,531 Fiscal 2019 27,380 Fiscal 2020 26,553 Fiscal 2021 26,537 Fiscal 2022 26,530 Thereafter 179,927 Total $ 294,458

Other Current and Non-current35

Other Current and Non-current Liabilities (Tables)	9 Months Ended
	Dec. 31, 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: December 31, 2017 March 31, 2017 Other current liabilities: Accrual for in-transit inventory $ 28,045 $ 17,505 Rebate accrual 26,533 19,325 Other 56,568 86,096 Total other current liabilities $ 111,146 $ 122,926 Other non-current liabilities: Non-current portion of accrued income tax liability $ 37,720 $ 32,842 Other 33,909 38,204 Total other non-current liabilities $ 71,629 $ 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 (3,832 ) Warranties issued 3,643 Changes related to preexisting warranties 170 Balance, December 31, 2017 $ 9,995

Long-term Debt (Tables)

Long-term Debt (Tables)	9 Months Ended
	Dec. 31, 2017
Debt Disclosure [Abstract]
Schedule of long-term debt, including the current portion	Long-term debt, including the current portion, consisted of the following: December 31, 2017 March 31, 2017 Credit Agreement: Term Loan $ 584,000 $ 608,000 Revolving Credit Facility 15,000 175,000 Total principal amount of Credit Agreement 599,000 783,000 5.875% Senior Notes 350,000 350,000 Principal amount of long-term debt 949,000 1,133,000 Less: unamortized deferred financing costs (11,292 ) (11,748 ) Carrying amount of long-term debt 937,708 1,121,252 Less: current portion (32,000 ) (32,000 ) Carrying amount of long-term debt, excluding current portion $ 905,708 $ 1,089,252
Schedule of Interest Rate Derivatives	As of December 31, 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 $ 529 1.519% 1.569% June 2019 Non-amortizing swap 100,000 921 1.629% 1.569% June 2020

Condensed Consolidating Finan37

Condensed Consolidating Financial Statements (Tables)	9 Months Ended
	Dec. 31, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Consolidated Statement of Comprehensive Income	Quarter ended January 1, 2017 (Amounts in thousands) Parent Issuer Guarantors Non-Guarantors Eliminations Consolidated Sales, net $ — $ 631,292 $ 57,352 $ (35,086 ) $ 653,558 Cost of sales — 478,603 40,801 (34,452 ) 484,952 Gross profit — 152,689 16,551 (634 ) 168,606 Operating expenses: Research and development — 8,170 — — 8,170 Selling, general, and administrative — 82,214 13,679 — 95,893 Goodwill and intangibles impairment — 449,199 — — 449,199 Income before interest and income taxes — (386,894 ) 2,872 (634 ) (384,656 ) Equity in income of subsidiaries (371,067 ) 1,221 — 369,846 — Interest expense, net (10,551 ) — — — (10,551 ) Income before income taxes (381,618 ) (385,673 ) 2,872 369,212 (395,207 ) Income tax provision (benefit) (3,959 ) (14,606 ) 1,263 (246 ) (17,548 ) Net income $ (377,659 ) $ (371,067 ) $ 1,609 $ 369,458 $ (377,659 ) Other comprehensive income, net of tax: Net income (from above) $ (377,659 ) $ (371,067 ) $ 1,609 $ 369,458 $ (377,659 ) Total other comprehensive income (9,749 ) (9,749 ) (10,711 ) 20,460 (9,749 ) Comprehensive income $ (387,408 ) $ (380,816 ) $ (9,102 ) $ 389,918 $ (387,408 ) VISTA OUTDOOR INC. CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (unaudited) Nine months ended December 31, 2017 (Amounts in thousands) Parent Issuer Guarantors Non-Guarantors Eliminations Consolidated Sales, net $ — $ 1,632,646 $ 170,682 $ (66,092 ) $ 1,737,236 Cost of sales — 1,276,170 117,271 (67,845 ) 1,325,596 Gross profit — 356,476 53,411 1,753 411,640 Operating expenses: Research and development — 22,113 — — 22,113 Selling, general, and administrative — 267,195 38,841 — 306,036 Goodwill and intangibles impairment — 102,320 50,000 — 152,320 Income (loss) before interest and income taxes — (35,152 ) (35,430 ) 1,753 (68,829 ) Equity in income of subsidiaries (20,805 ) (38,847 ) — 59,652 — Interest expense, net (37,456 ) — — — (37,456 ) Income (loss) before income taxes (58,261 ) (73,999 ) (35,430 ) 61,405 (106,285 ) Income tax provision (benefit) (13,951 ) (53,194 ) 4,549 621 (61,975 ) Net income (loss) $ (44,310 ) $ (20,805 ) $ (39,979 ) $ 60,784 $ (44,310 ) Other comprehensive (loss) income, net of tax: Net income (loss) (from above) $ (44,310 ) $ (20,805 ) $ (39,979 ) $ 60,784 $ (44,310 ) Total other comprehensive income 17,789 17,789 16,463 (34,252 ) 17,789 Comprehensive loss $ (26,521 ) $ (3,016 ) $ (23,516 ) $ 26,532 $ (26,521 ) Nine months ended January 1, 2017 (Amounts in thousands) Parent Issuer Guarantors Non-Guarantors Eliminations Consolidated Sales, net $ — $ 1,888,699 $ 169,012 $ (89,572 ) $ 1,968,139 Cost of sales — 1,419,712 111,710 (88,675 ) 1,442,747 Gross profit — 468,987 57,302 (897 ) 525,392 Operating expenses: Research and development — 24,202 (51 ) — 24,151 Selling, general, and administrative — 260,205 42,855 — 303,060 Acquisition claim settlement gain, net (30,027 ) — — — (30,027 ) Goodwill and intangibles impairment — 449,199 — — 449,199 Income before interest and income taxes 30,027 (264,619 ) 14,498 (897 ) (220,991 ) Equity in income of subsidiaries (284,930 ) 8,536 — 276,394 — Interest expense, net (32,657 ) — — — (32,657 ) Income before income taxes (287,560 ) (256,083 ) 14,498 275,497 (253,648 ) Income tax provision (benefit) (12,249 ) 28,847 5,398 (333 ) 21,663 Net income $ (275,311 ) $ (284,930 ) $ 9,100 $ 275,830 $ (275,311 ) Other comprehensive income, net of tax: Net income (from above) (275,311 ) (284,930 ) 9,100 275,830 (275,311 ) Total other comprehensive loss (12,369 ) (12,369 ) (15,255 ) 27,624 (12,369 ) Comprehensive income $ (287,680 ) $ (297,299 ) $ (6,155 ) $ 303,454 $ (287,680 ) CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (unaudited) Quarter ended December 31, 2017 (Amounts in thousands) Parent Issuer Guarantors Non-Guarantors Eliminations Consolidated Sales, net $ — $ 538,734 $ 65,441 $ (22,971 ) $ 581,204 Cost of sales — 432,385 46,680 (23,966 ) 455,099 Gross profit — 106,349 18,761 995 126,105 Operating expenses: Research and development — 6,875 — — 6,875 Selling, general, and administrative — 85,669 14,555 — 100,224 Income (loss) before interest and income taxes — 13,805 4,206 995 19,006 Equity in income of subsidiaries 61,585 4,326 — (65,911 ) — Interest expense, net (12,494 ) — — — (12,494 ) Income (loss) before income taxes 49,091 18,131 4,206 (64,916 ) 6,512 Income tax provision (benefit) (4,652 ) (43,454 ) 508 367 (47,231 ) Net income (loss) $ 53,743 $ 61,585 $ 3,698 $ (65,283 ) $ 53,743 Other comprehensive income (loss), net of tax: Net income (loss) (from above) $ 53,743 $ 61,585 $ 3,698 $ (65,283 ) $ 53,743 Total other comprehensive income 797 797 791 (1,588 ) 797 Comprehensive income (loss) $ 54,540 $ 62,382 $ 4,489 $ (66,871 ) $ 54,540
Condensed Consolidated Balance Sheet	CONDENSED CONSOLIDATED BALANCE SHEET (unaudited) December 31, 2017 (Amounts in thousands) Parent Issuer Guarantors Non-Guarantors Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ — $ 44,478 $ 18,801 $ — $ 63,279 Net receivables — 384,867 25,036 — 409,903 Due from affiliates, current — — 10,978 (10,978 ) — Net inventories — 395,533 22,086 (3,257 ) 414,362 Assets held for sale — 73,741 136,412 — 210,153 Other current assets — 24,992 (1,492 ) — 23,500 Total current assets — 923,611 211,821 (14,235 ) 1,121,197 Net property, plant, and equipment — 259,796 7,695 — 267,491 Investment in subsidiaries 2,366,342 160,228 — (2,526,570 ) — Goodwill — 652,263 5,422 — 657,685 Net intangible assets — 592,349 8,156 — 600,505 Long-term due from affiliates — 235,358 — (235,358 ) — Deferred charges and other non-current assets — 27,977 7,088 — 35,065 Total assets $ 2,366,342 $ 2,851,582 $ 240,182 $ (2,776,163 ) $ 2,681,943 LIABILITIES AND EQUITY Current liabilities: Current portion of long-term debt $ 32,000 $ — $ — $ — $ 32,000 Accounts payable — 103,188 5,203 — 108,391 Due to affiliates, current — 10,978 — (10,978 ) — Accrued compensation — 39,293 232 — 39,525 Accrued income taxes — 3,744 (111 ) (2,846 ) 787 Federal excise tax — 21,748 2,365 — 24,113 Liabilities held for sale — 14,687 27,599 — 42,286 Other current liabilities — 106,795 4,351 — 111,146 Total current liabilities 32,000 300,433 39,639 (13,824 ) 358,248 Long-term debt 905,708 — — — 905,708 Deferred income tax liabilities — 67,655 979 1,656 70,290 Accrued pension and postemployment benefits — 45,791 — — 45,791 Long-term due to affiliates 198,357 — 37,001 (235,358 ) — Other long-term liabilities — 70,568 1,061 — 71,629 Total liabilities 1,136,065 484,447 78,680 (247,526 ) 1,451,666 Equity Total stockholders' equity 1,230,277 2,367,135 161,502 (2,528,637 ) 1,230,277 Total liabilities and stockholders' equity $ 2,366,342 $ 2,851,582 $ 240,182 $ (2,776,163 ) $ 2,681,943 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 current 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 Consolidated Cash Flow Statement	CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (unaudited) Nine months ended December 31, 2017 (Amounts in thousands) Parent Issuer Guarantors Non-Guarantors Eliminations Consolidated Operating Activities: Cash provided by (used for) operating activities $ (21,251 ) $ 256,539 $ 7,819 $ — $ 243,107 Investing Activities: Capital expenditures — (42,744 ) (817 ) — (43,561 ) Due from affiliates — (192,374 ) — 192,374 — Proceeds from the disposition of property, plant, and equipment — 30 58 — 88 Cash provided by (used for) investing activities — (235,088 ) (759 ) 192,374 (43,473 ) Financing Activities: Due to (from) affiliates 204,167 — (11,793 ) (192,374 ) — Borrowings on line of credit 250,000 — — — 250,000 Payments made on line of credit (410,000 ) — — — (410,000 ) Payments made on long-term debt (24,000 ) — — — (24,000 ) Payments made for debt issuance costs (1,805 ) — — — (1,805 ) Deferred payments for acquisitions (1,348 ) — — — (1,348 ) Proceeds from employee stock compensation plans 4,237 — — — 4,237 Cash provided by (used for) financing activities 21,251 — (11,793 ) (192,374 ) (182,916 ) Effect of foreign exchange rate fluctuations on cash — — 1,486 — 1,486 (Decrease) increase in cash and cash equivalents — 21,451 (3,247 ) — 18,204 Cash and cash equivalents at beginning of period — 23,027 22,048 — 45,075 Cash and cash equivalents at end of period $ — $ 44,478 $ 18,801 $ — $ 63,279 VISTA OUTDOOR INC. CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (unaudited) Nine months ended January 1, 2017 (Amounts in thousands) Parent Issuer Guarantors Non-Guarantors Eliminations Consolidated Operating Activities: Cash provided by (used for) operating activities $ 11,298 $ 42,021 $ 4,572 $ — $ 57,891 Investing Activities: Capital expenditures — (48,443 ) (859 ) — (49,302 ) Due from affiliates — (116,584 ) — 116,584 — Acquisition of businesses, net of cash acquired (465,684 ) 7,149 386 — (458,149 ) Proceeds from the disposition of property, plant, and equipment — 42 50 — 92 Cash used for investing activities (465,684 ) (157,836 ) (423 ) 116,584 (507,359 ) Financing Activities: Due to (from) affiliates 114,467 — 2,117 (116,584 ) — Borrowings on line of credit 445,000 — — — 445,000 Payments made on line of credit (255,000 ) — — — (255,000 ) Proceeds from issuance of long-term debt 307,500 — — — 307,500 Payments made on long-term debt (24,000 ) — — — (24,000 ) Payments made for debt issuance costs (3,660 ) — — — (3,660 ) Purchase of treasury shares (122,860 ) — — — (122,860 ) Deferred payments for acquisitions (7,136 ) — — — (7,136 ) Proceeds from employee stock compensation plans 75 — — — 75 Cash provided by financing activities 454,386 — 2,117 (116,584 ) 339,919 Effect of foreign exchange rate fluctuations on cash — — (1,302 ) — (1,302 ) (Decrease) in cash and cash equivalents — (115,815 ) 4,964 — (110,851 ) Cash and cash equivalents at beginning of period — 133,503 18,189 — 151,692 Cash and cash equivalents at end of period $ — $ 17,688 $ 23,153 $ — $ 40,841

Operating Segment Information (

Operating Segment Information (Tables)	9 Months Ended
	Dec. 31, 2017
Segment Reporting [Abstract]
Summary Results by Segment	The following summarizes our results by segment: Quarter ended Nine months ended December 31, 2017 January 1, 2017 December 31, 2017 January 1, 2017 Sales to external customers: Outdoor Products $ 294,878 $ 292,800 $ 876,489 $ 900,981 Shooting Sports 286,326 360,758 860,747 1,067,158 Total sales to external customers $ 581,204 $ 653,558 $ 1,737,236 $ 1,968,139 Gross Profit Outdoor Products $ 74,175 $ 71,161 $ 226,293 $ 235,818 Shooting Sports 51,986 97,560 185,645 290,010 Corporate (56 ) (115 ) (298 ) (436 ) Total gross profit $ 126,105 $ 168,606 $ 411,640 $ 525,392

Basis of Presentation and Res39

Basis of Presentation and Responsibility for Interim Financial Statements (Details)	9 Months Ended
	Dec. 31, 2017segment
Accounting Policies [Abstract]
Number of operating segments	2

Fair Value of Financial Instr40

Fair Value of Financial Instruments (Details) - USD ($)	Dec. 31, 2017	Mar. 31, 2017
Assets and liabilities that are not measured on a recurring basis
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value		$ 0
Fair value of assets and liabilities that are not measured on a recurring basis | Carrying amount
Assets and liabilities that are not measured on a recurring basis
Fixed-rate debt	$ 350,000,000	350,000,000
Variable-rate debt	599,000,000	783,000,000
Fair value of assets and liabilities that are not measured on a recurring basis | Fair value
Assets and liabilities that are not measured on a recurring basis
Fixed-rate debt	341,684,000	341,250,000
Variable-rate debt	$ 599,000,000	$ 783,000,000

Derivative Financial Instrume41

Derivative Financial Instruments (Details) $ in Thousands	Dec. 31, 2017USD ($)
Euro Member Countries, Euro
Derivative [Line Items]
Notional	$ 3,466

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Jan. 01, 2017	Dec. 31, 2017	Jan. 01, 2017	Mar. 31, 2017	Mar. 31, 2015
Earnings Per Share [Abstract]
Basic EPS shares outstanding	57,253,000	58,275,000	57,113,000	59,478,000
Dilutive effect of stock-based awards	41,000	359,000	0	341,000
Diluted EPS shares outstanding	57,294,000	58,634,000	57,113,000	59,819,000
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	236,000	139,000	149,000	139,000
Stock Repurchase Program, Authorized Amount					$ 100,000,000	$ 200,000,000
Treasury Stock, Shares, Acquired		1,559,938	0	3,095,952
Treasury Stock, Value, Acquired, Cost Method		$ 59,993,000		$ 126,560,000

Assets and Liabilities Held f43

Assets and Liabilities Held for Sale (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Jan. 01, 2017	Dec. 31, 2017	Jan. 01, 2017	Mar. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Earnings before taxes for disposal group held for sale	$ 4,409	$ 2,431	$ 9,449	$ 6,221
Assets held for sale	210,153		210,153		$ 0
Liabilities held for sale	42,286		42,286		$ 0
Eyewear business | Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Depreciation and amortization for disposal group included in earnings before taxes	697	$ 2,076	4,883	$ 6,228
Net receivables	30,961		30,961
Net inventories	32,487		32,487
Income tax receivable	151		151
Other current assets	4,368		4,368
Net property, plant, and equipment	3,451		3,451
Goodwill	63,688		63,688
Net intangible assets	75,047		75,047
Assets held for sale	210,153		210,153
Accounts payable	6,552		6,552
Accrued compensation	3,283		3,283
Deferred tax liabilities	15,667		15,667
Other accrued liabilities	16,784		16,784
Liabilities held for sale	42,286		42,286
Net Assets held for sale	$ 167,867		$ 167,867

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Thousands	Sep. 01, 2016	Apr. 01, 2016	Dec. 31, 2017	Jan. 01, 2017	Dec. 31, 2017	Jan. 01, 2017	Mar. 31, 2017
Business Acquisition [Line Items]
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability			$ 3,371
Pro forma sales			0	$ 12,151	$ 32,752	$ 15,751
Pro forma gross profit			0	$ 3,149	9,947	$ 3,860
Fair value of liabilities assumed:
Goodwill			657,685		657,685		$ 857,631
Camp Chef
Business Acquisition [Line Items]
Payments to acquire businesses	$ 60,000
Consideration transferred, liabilities incurred	4,000
Contingent Consideration, Liability	10,000
Purchase price net of cash acquired:
Cash paid	60,000
Estimated earn-out value	$ 4,000
Action Sports
Business Acquisition [Line Items]
Payments to acquire businesses		$ 400,000
Consideration transferred, liabilities incurred		4,272
Contingent Consideration, Liability		4,272	$ 3,832		$ 3,832
Purchase price net of cash acquired:
Cash paid		400,000
Estimated earn-out 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 (Details)

Net Receivables (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Dec. 31, 2017	Mar. 31, 2017
Receivables [Abstract]
Trade receivables	$ 433,049	$ 472,233
Other receivables	1,537	3,136
Less: allowance for doubtful accounts and discounts	(24,683)	(24,654)
Net receivables	$ 409,903	$ 450,715
Accounts Receivable | 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	Dec. 31, 2017	Mar. 31, 2017
Inventory Disclosure [Abstract]
Raw materials	$ 101,254	$ 101,635
Work in process	43,536	51,004
Finished goods	269,572	410,156
Net inventories	414,362	562,795
Long-term inventories	$ 32,067	$ 23,504

Accumulated Other Comprehensi47

Accumulated Other Comprehensive Loss (Components of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Oct. 01, 2017	Mar. 31, 2017	Jan. 01, 2017	Jul. 03, 2016	Mar. 31, 2015
Equity [Abstract]
Pension and other postretirement benefits	$ 56,411		$ 56,929
Derivatives	808	$ 23	0
Cumulative translation adjustment	(39,600)		(56,063)
Total AOCL	$ (95,203)	$ (96,000)	$ (112,992)	$ (122,583)	$ (112,834)	$ (110,214)

Accumulated Other Comprehensi48

Accumulated Other Comprehensive Loss (Changes in the Balance of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Jan. 01, 2017	Dec. 31, 2017	Jan. 01, 2017	Oct. 01, 2017	Mar. 31, 2017	Jul. 03, 2016	Mar. 31, 2015
Accumulated Other Comprehensive Income Loss [Line Items]
Derivatives	$ 808		$ 808		$ 23	$ 0
Pension and other postretirement benefits	(56,411)		(56,411)			(56,929)
Cumulative translation adjustment	(39,600)		(39,600)			(56,063)
Total AOCL	(95,203)	$ (122,583)	(95,203)	$ (122,583)	(96,000)	(112,992)	$ (112,834)	$ (110,214)
Reclassification of net actuarial loss for pension and postretirement benefit plans recorded to net income, net of tax expense	(472)	(1,236)	(2,087)	(3,708)
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, after Tax	472	1,236	2,087	3,708
Reclassification of prior service credits for pension and postretirement benefit plans recorded to net income, net of tax benefit of $29 and $162, respectively for the quarter ended, and $221 and $486, respectively, for the nine months ended.	(49)	(274)	(372)	(822)
Valuation adjustment for pension and postretirement benefit plans, net of tax benefit of $714 and $0, respectively, for the quarter ended, and $710 and $0, respectively, for the nine months ended.	(1,202)	0	(1,197)	0
Net increase in fair value of derivatives	785		808
Change in derivatives, net of tax expense of $(467) and $0, respectively, for the quarter ended, and $(481) and $0, respectively, for the nine months ended.	785	0	808	0
Change in cumulative translation adjustment.	791	(10,711)	16,463	(15,255)
Pension and Other Postretirement Benefits Adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Pension and other postretirement benefits	(56,411)	(60,781)	(56,411)	(60,781)	(55,632)	(56,929)	(61,743)	(63,667)
Cumulative Translation Adjustment
Accumulated Other Comprehensive Income Loss [Line Items]
Cumulative translation adjustment	$ (39,600)	$ (61,802)	$ (39,600)	$ (61,802)	$ (40,391)	$ (56,063)	$ (51,091)	$ (46,547)

Goodwill and Net Intangible A49

Goodwill and Net Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended		12 Months Ended
	Dec. 31, 2017	Oct. 01, 2017	Jan. 01, 2017	Dec. 31, 2017	Jan. 01, 2017	Mar. 31, 2017	Mar. 31, 2015
Indefinite-lived Intangible Assets [Line Items]
Goodwill and Intangible Asset Impairment	$ 0	$ (152,320)	$ (449,199)	$ (152,320)	$ (449,199)
Goodwill, Impairment Loss				143,400
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	12 years 5 months 28 days
Amortization expense	$ 8,400		$ 10,627	26,653	$ 31,020
Trade Names
Indefinite-lived Intangible Assets [Line Items]
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)				8,920		$ 34,230	$ 11,200
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, Impairment Loss				143,400
Goodwill, Impaired, Accumulated Impairment Loss	$ 545,106			545,106		$ 353,915	47,791
Shooting Sports
Indefinite-lived Intangible Assets [Line Items]
Goodwill, Impairment Loss				$ 0
Goodwill, Impaired, Accumulated Impairment Loss							$ 41,020
Hunting and Shooting Accessories reporting unit
Indefinite-lived Intangible Assets [Line Items]
Goodwill, Impairment Loss		$ 69,734
Fair Value Inputs, Discount Rate		8.00%
Fair Value Inputs, Long-term Revenue Growth Rate		3.00%
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)		$ 7,220
Fair Value Inputs, Royalty Rate, Indefinite Lived Tradenames		2.00%
Sports Protection reporting unit
Indefinite-lived Intangible Assets [Line Items]
Goodwill, Impairment Loss		$ 73,666
Fair Value Inputs, Discount Rate		8.00%
Fair Value Inputs, Long-term Revenue Growth Rate		3.00%
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill)		$ 1,700
Fair Value Inputs, Royalty Rate, Indefinite Lived Tradenames		3.00%
Outdoor Recreation and Firearms reporting units
Indefinite-lived Intangible Assets [Line Items]
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount	5.00%			5.00%

Goodwill and Net Intangible A50

Goodwill and Net Intangible Assets (Goodwill Rollforward) (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2017USD ($)
Goodwill [Roll Forward]
Balance at the beginning of the period	$ 857,631
Impairment	(143,400)
Effect of foreign currency exchange rates	7,142
Less: goodwill held for sale	(63,688)
Balance at the end of the period	657,685
Outdoor Products
Goodwill [Roll Forward]
Balance at the beginning of the period	652,896
Impairment	(143,400)
Effect of foreign currency exchange rates	6,815
Less: goodwill held for sale	(63,688)
Balance at the end of the period	452,623
Shooting Sports
Goodwill [Roll Forward]
Balance at the beginning of the period	204,735
Impairment	0
Effect of foreign currency exchange rates	327
Less: goodwill held for sale	0
Balance at the end of the period	$ 205,062

Goodwill and Net Intangible A51

Goodwill and Net Intangible Assets (Schedule of Net Intangible Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2017
Amortizing assets
Gross carrying amount	$ 397,656	$ 496,324
Accumulated amortization	(103,198)	(102,761)
Total	294,458	393,563
Intangible assets, gross	703,703	811,291
Net intangible assets	600,505	708,530
Non-amortizing trade names
Amortizing assets
Non-amortizing trade names	306,047	314,967
Trade names
Amortizing assets
Gross carrying amount	62,659	106,159
Accumulated amortization	(10,710)	(17,048)
Total	51,949	89,111
Patented technology
Amortizing assets
Gross carrying amount	16,466	19,066
Accumulated amortization	(7,931)	(7,703)
Total	8,535	11,363
Customer relationships and other
Amortizing assets
Gross carrying amount	318,531	371,099
Accumulated amortization	(84,557)	(78,010)
Total	$ 233,974	$ 293,089

Goodwill and Net Intangible A52

Goodwill and Net Intangible Assets (Future Amortization Expense) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of fiscal 2018	$ 7,531
Fiscal 2,019	27,380
Fiscal 2,020	26,553
Fiscal 2,021	26,537
Fiscal 2,022	26,530
Thereafter	179,927
Total	$ 294,458	$ 393,563

Other Current and Non-current53

Other Current and Non-current Liabilities (Components of Current and Non-current Liabilities) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2017
Other Liabilities Disclosure [Abstract]
Accrual for in-transit inventory	$ 28,045	$ 17,505
Rebate accrual	26,533	19,325
Other	56,568	86,096
Total other current liabilities	111,146	122,926
Non-current portion of accrued income tax liability	37,720	32,842
Other	33,909	38,204
Total other non-current liabilities	$ 71,629	$ 71,046

Other Current and Non-current54

Other Current and Non-current Liabilities (Product Warranty Rollforward) (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2017USD ($)
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Balance at the beginning of the period	$ 10,014
Payments made	(3,832)
Warranties issued	3,643
Changes related to preexisting warranties	170
Balance at the end of period	$ 9,995

Long-term Debt (Components of L

Long-term Debt (Components of Long-term Debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2017	Apr. 01, 2016	Aug. 11, 2015
Long-Term Debt
Principal amount of long-term debt	$ 949,000	$ 1,133,000
Less: unamortized deferred financing costs	(11,292)	(11,748)
Carrying amount of long-term debt	937,708	1,121,252
Less: current portion	(32,000)	(32,000)
Carrying amount of long-term debt, excluding current portion	905,708	1,089,252
Total principal amount of Credit Agreement
Long-Term Debt
Principal amount of long-term debt	599,000	783,000
Term A Loan due 2021
Long-Term Debt
Principal amount of long-term debt	584,000	608,000	$ 640,000
Line of Credit due 2021
Long-Term Debt
Principal amount of long-term debt	15,000	175,000	$ 400,000
Carrying amount of long-term debt	15,000
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 ($) $ in Thousands	3 Months Ended	9 Months Ended
	Dec. 31, 2017	Dec. 31, 2017	Mar. 31, 2017	Apr. 01, 2016	Dec. 31, 2014
Long-Term Debt
Principal amount of long-term debt	$ 949,000	$ 949,000	$ 1,133,000
Long-term Debt	937,708	937,708	1,121,252
Letters of Credit Outstanding, Amount	26,824	26,824
Line of Credit Facility, Remaining Borrowing Capacity	358,176	358,176
Write off of Deferred Debt Issuance Cost		1,521
Term A Loan due 2021
Long-Term Debt
Principal amount of long-term debt	$ 584,000	584,000	608,000	$ 640,000
Debt Instrument, Periodic Payment, Principal		$ 8,000
Weighted average interest rate (as a percent)	3.82%	3.82%
Deferred Finance Costs Gross, Accordion Feature	$ 14,000	$ 14,000
Term A Loan due 2021 | Base Rate
Long-Term Debt
Basis spread on variable rate margin (as a percent)		1.25%
Term A Loan due 2021 | Eurodollar
Long-Term Debt
Basis spread on variable rate margin (as a percent)		2.25%
Line of Credit due 2021
Long-Term Debt
Principal amount of long-term debt	$ 15,000	$ 15,000	$ 175,000	$ 400,000
Annual commitment fee on the unused portion (as a percent)	0.40%
Long-term Debt	$ 15,000	15,000
Line of Credit due 2020
Long-Term Debt
Principal amount of long-term debt					$ 350,000
Term A Loan due 2020
Long-Term Debt
Principal amount of long-term debt					$ 400,000
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
Unamortized debt issuance costs	$ 1,800	$ 1,800

Long-term Debt (Narrative - 5.8

Long-term Debt (Narrative - 5.875% Notes) (Details) - USD ($)	Aug. 11, 2015	Dec. 31, 2017	Mar. 31, 2017
Debt Instrument [Line Items]
Long-term Debt		$ 937,708,000	$ 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	Dec. 31, 2017USD ($)
Interest Rate Swap Maturing June 2019
Derivative [Line Items]
Notional	$ 100,000,000
Fair Value	$ 529,000
Pay Fixed	1.519%
Receive Floating	1.569%
Interest Rate Swap Maturing June 2020
Derivative [Line Items]
Notional	$ 100,000,000
Fair Value	$ 921,000
Pay Fixed	1.629%
Receive Floating	1.569%

Long-term Debt (Narrative - Cas

Long-term Debt (Narrative - Cash Paid for Interest on Debt) (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2017	Jan. 01, 2017
Debt Disclosure [Abstract]
Interest Paid	$ 39,722	$ 36,663

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($)	3 Months Ended			9 Months Ended
	Dec. 31, 2017	Jul. 02, 2017	Jan. 01, 2017	Dec. 31, 2017	Jan. 01, 2017
Defined Benefit Plans
Aggregate net expense for employee benefit plans	$ 0		$ 1,690,000	$ 1,506,000	$ 5,072,000
Pension Curtailment Gain		$ 5,783,000
Pension Plan
Defined Benefit Plans
Contribution by employer				8,800,000	4,400,000
Expected future employer contributions, remainder of fiscal year	0			0
Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plans
Contribution by employer				0	0
Expected future employer contributions, remainder of fiscal year	159,000			159,000
Supplemental Employee Retirement Plan
Defined Benefit Plans
Distributions by employer				0	$ 10,000
Expected future employer distributions, remainder of fiscal year	$ 11,125,000			$ 11,125,000

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Jan. 01, 2017	Dec. 31, 2017	Jan. 01, 2017
Income Tax Disclosure [Abstract]
Income tax provision (as a percent)	(725.30%)	4.40%	58.30%	(8.50%)
Estimated income tax benefit arising from recent tax reform legislation	$ 48,000		$ 48,000
Potential reduction of uncertain tax benefits over the next 12 months from audit settlements	(4,165)		(4,165)
Minimum
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Unrecognized tax benefits that would impact effective tax rate	0		0
Maximum
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Unrecognized tax benefits that would impact effective tax rate	$ 3,542		$ 3,542

Contingencies (Details)

Contingencies (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2017
Loss Contingency [Abstract]
Accrual for Environmental Loss Contingencies	$ 736	$ 750

Condensed Consolidating Finan63

Condensed Consolidating Financial Statements (Condensed Consolidated Statement of Comprehensive Income) (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Dec. 31, 2017	Oct. 01, 2017	Jan. 01, 2017	Dec. 31, 2017	Jan. 01, 2017
Condensed Income Statements, Captions [Abstract]
Sales, net	$ 581,204		$ 653,558	$ 1,737,236	$ 1,968,139
Cost of sales	455,099		484,952	1,325,596	1,442,747
Gross profit	126,105		168,606	411,640	525,392
Research and development	6,875		8,170	22,113	24,151
Selling, general, and administrative	100,224		95,893	306,036	303,060
Goodwill and intangibles impairment	0	$ 152,320	449,199	152,320	449,199
Acquisition claim settlement gain, net	0		0	0	(30,027)
Income (loss) before interest and income taxes	19,006		(384,656)	(68,829)	(220,991)
Equity in income of subsidiaries	0		0	0	0
Interest expense, net	(12,494)		(10,551)	(37,456)	(32,657)
Income (loss) before income taxes	6,512		(395,207)	(106,285)	(253,648)
Income tax provision (benefit)	(47,231)		(17,548)	(61,975)	21,663
Net income (loss)	53,743		(377,659)	(44,310)	(275,311)
Total other comprehensive income	797		(9,749)	17,789	(12,369)
Comprehensive income (loss)	54,540		(387,408)	(26,521)	(287,680)
Eliminations
Condensed Income Statements, Captions [Abstract]
Sales, net	(22,971)		(35,086)	(66,092)	(89,572)
Cost of sales	(23,966)		(34,452)	(67,845)	(88,675)
Gross profit	995		(634)	1,753	(897)
Research and development	0		0	0	0
Selling, general, and administrative	0		0	0	0
Goodwill and intangibles impairment			0	0	0
Acquisition claim settlement gain, net					0
Income (loss) before interest and income taxes	995		(634)	1,753	(897)
Equity in income of subsidiaries	(65,911)		369,846	59,652	276,394
Interest expense, net	0		0	0	0
Income (loss) before income taxes	(64,916)		369,212	61,405	275,497
Income tax provision (benefit)	367		(246)	621	(333)
Net income (loss)	(65,283)		369,458	60,784	275,830
Total other comprehensive income	(1,588)		20,460	(34,252)	27,624
Comprehensive income (loss)	(66,871)		389,918	26,532	303,454
Parent Issuer | Reportable Legal Entities
Condensed Income Statements, Captions [Abstract]
Sales, net	0		0	0	0
Cost of sales	0		0	0	0
Gross profit	0		0	0	0
Research and development	0		0	0	0
Selling, general, and administrative	0		0	0	0
Goodwill and intangibles impairment			0	0	0
Acquisition claim settlement gain, net					(30,027)
Income (loss) before interest and income taxes	0		0	0	30,027
Equity in income of subsidiaries	61,585		(371,067)	(20,805)	(284,930)
Interest expense, net	(12,494)		(10,551)	(37,456)	(32,657)
Income (loss) before income taxes	49,091		(381,618)	(58,261)	(287,560)
Income tax provision (benefit)	(4,652)		(3,959)	(13,951)	(12,249)
Net income (loss)	53,743		(377,659)	(44,310)	(275,311)
Total other comprehensive income	797		(9,749)	17,789	(12,369)
Comprehensive income (loss)	54,540		(387,408)	(26,521)	(287,680)
Guarantors | Reportable Legal Entities
Condensed Income Statements, Captions [Abstract]
Sales, net	538,734		631,292	1,632,646	1,888,699
Cost of sales	432,385		478,603	1,276,170	1,419,712
Gross profit	106,349		152,689	356,476	468,987
Research and development	6,875		8,170	22,113	24,202
Selling, general, and administrative	85,669		82,214	267,195	260,205
Goodwill and intangibles impairment			449,199	102,320	449,199
Acquisition claim settlement gain, net					0
Income (loss) before interest and income taxes	13,805		(386,894)	(35,152)	(264,619)
Equity in income of subsidiaries	4,326		1,221	(38,847)	8,536
Interest expense, net	0		0	0	0
Income (loss) before income taxes	18,131		(385,673)	(73,999)	(256,083)
Income tax provision (benefit)	(43,454)		(14,606)	(53,194)	28,847
Net income (loss)	61,585		(371,067)	(20,805)	(284,930)
Total other comprehensive income	797		(9,749)	17,789	(12,369)
Comprehensive income (loss)	62,382		(380,816)	(3,016)	(297,299)
Non-Guarantors | Reportable Legal Entities
Condensed Income Statements, Captions [Abstract]
Sales, net	65,441		57,352	170,682	169,012
Cost of sales	46,680		40,801	117,271	111,710
Gross profit	18,761		16,551	53,411	57,302
Research and development	0		0	0	(51)
Selling, general, and administrative	14,555		13,679	38,841	42,855
Goodwill and intangibles impairment			0	50,000	0
Acquisition claim settlement gain, net					0
Income (loss) before interest and income taxes	4,206		2,872	(35,430)	14,498
Equity in income of subsidiaries	0		0	0	0
Interest expense, net	0		0	0	0
Income (loss) before income taxes	4,206		2,872	(35,430)	14,498
Income tax provision (benefit)	508		1,263	4,549	5,398
Net income (loss)	3,698		1,609	(39,979)	9,100
Total other comprehensive income	791		(10,711)	16,463	(15,255)
Comprehensive income (loss)	$ 4,489		$ (9,102)	$ (23,516)	$ (6,155)

Condensed Consolidating Finan64

Condensed Consolidating Financial Statements (Condensed Consolidated Balance Sheet) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2017	Jan. 01, 2017	Mar. 31, 2016
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	$ 63,279	$ 45,075	$ 40,841	$ 151,692
Net receivables	409,903	450,715
Due from affiliates, current	0	0
Net inventories	414,362	562,795
Income tax receivable	0	25,658
Assets held for sale	210,153	0
Other current assets	23,500	25,604
Total current assets	1,121,197	1,109,847
Net property, plant, and equipment	267,491	272,346
Investment in subsidiaries	0	0
Goodwill	657,685	857,631
Net intangible assets	600,505	708,530
Long-term due from affiliates	0	0
Deferred charges and other non-current assets	35,065	28,393
Total assets	2,681,943	2,976,747
Current portion of long-term debt	32,000	32,000
Accounts payable	108,391	127,718
Due to affiliates, current	0	0
Accrued compensation	39,525	33,663
Accrued income taxes	787	0
Federal excise tax	24,113	30,082
Liabilities held for sale	42,286	0
Other current liabilities	111,146	122,926
Total current liabilities	358,248	346,389
Long-term debt	905,708	1,089,252
Deferred income tax liabilities	70,290	160,765
Accrued pension and postemployment benefits	45,791	64,230
Long-term due to affiliates	0	0
Other long-term liabilities	71,629	71,046
Total liabilities	1,451,666	1,731,682
Total stockholders' equity	1,230,277	1,245,065
Total liabilities and stockholders' equity	2,681,943	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	(10,978)	(1,787)
Net inventories	(3,257)	(5,009)
Income tax receivable		1,961
Assets held for sale	0
Other current assets	0	0
Total current assets	(14,235)	(4,835)
Net property, plant, and equipment	0	0
Investment in subsidiaries	(2,526,570)	(2,749,495)
Goodwill	0	0
Net intangible assets	0	0
Long-term due from affiliates	(235,358)	(230,669)
Deferred charges and other non-current assets	0	0
Total assets	(2,776,163)	(2,984,999)
Current portion of long-term debt	0	0
Accounts payable	0	0
Due to affiliates, current	(10,978)	(1,787)
Accrued compensation	0	0
Accrued income taxes	(2,846)
Federal excise tax	0	0
Liabilities held for sale	0
Other current liabilities	0	0
Total current liabilities	(13,824)	(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	(235,358)	(230,669)
Other long-term liabilities	0	0
Total liabilities	(247,526)	(232,306)
Total stockholders' equity	(2,528,637)	(2,752,693)
Total liabilities and stockholders' equity	(2,776,163)	(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
Assets held for sale	0
Other current assets	0	0
Total current assets	0	0
Net property, plant, and equipment	0	0
Investment in subsidiaries	2,366,342	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	2,366,342	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
Accrued income taxes	0
Federal excise tax	0	0
Liabilities held for sale	0
Other current liabilities	0	0
Total current liabilities	32,000	32,000
Long-term debt	905,708	1,089,252
Deferred income tax liabilities	0	0
Accrued pension and postemployment benefits	0	0
Long-term due to affiliates	198,357	186,631
Other long-term liabilities	0	0
Total liabilities	1,136,065	1,307,883
Total stockholders' equity	1,230,277	1,245,065
Total liabilities and stockholders' equity	2,366,342	2,552,948
Guarantors | Reportable Legal Entities
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	44,478	23,027	17,688	133,503
Net receivables	384,867	409,177
Due from affiliates, current	0	1,787
Net inventories	395,533	510,754
Income tax receivable		22,394
Assets held for sale	73,741
Other current assets	24,992	23,177
Total current assets	923,611	990,316
Net property, plant, and equipment	259,796	262,711
Investment in subsidiaries	160,228	196,547
Goodwill	652,263	749,898
Net intangible assets	592,349	676,576
Long-term due from affiliates	235,358	230,669
Deferred charges and other non-current assets	27,977	23,482
Total assets	2,851,582	3,130,199
Current portion of long-term debt	0	0
Accounts payable	103,188	117,650
Due to affiliates, current	10,978	0
Accrued compensation	39,293	30,173
Accrued income taxes	3,744
Federal excise tax	21,748	29,042
Liabilities held for sale	14,687
Other current liabilities	106,795	110,321
Total current liabilities	300,433	287,186
Long-term debt	0	0
Deferred income tax liabilities	67,655	153,636
Accrued pension and postemployment benefits	45,791	64,230
Long-term due to affiliates	0	0
Other long-term liabilities	70,568	69,384
Total liabilities	484,447	574,436
Total stockholders' equity	2,367,135	2,555,763
Total liabilities and stockholders' equity	2,851,582	3,130,199
Non-Guarantors | Reportable Legal Entities
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	18,801	22,048	$ 23,153	$ 18,189
Net receivables	25,036	41,538
Due from affiliates, current	10,978	0
Net inventories	22,086	57,050
Income tax receivable		1,303
Assets held for sale	136,412
Other current assets	(1,492)	2,427
Total current assets	211,821	124,366
Net property, plant, and equipment	7,695	9,635
Investment in subsidiaries	0	0
Goodwill	5,422	107,733
Net intangible assets	8,156	31,954
Long-term due from affiliates	0	0
Deferred charges and other non-current assets	7,088	4,911
Total assets	240,182	278,599
Current portion of long-term debt	0	0
Accounts payable	5,203	10,068
Due to affiliates, current	0	1,787
Accrued compensation	232	3,490
Accrued income taxes	(111)
Federal excise tax	2,365	1,040
Liabilities held for sale	27,599
Other current liabilities	4,351	12,605
Total current liabilities	39,639	28,990
Long-term debt	0	0
Deferred income tax liabilities	979	6,979
Accrued pension and postemployment benefits	0	0
Long-term due to affiliates	37,001	44,038
Other long-term liabilities	1,061	1,662
Total liabilities	78,680	81,669
Total stockholders' equity	161,502	196,930
Total liabilities and stockholders' equity	$ 240,182	$ 278,599

Condensed Consolidating Finan65

Condensed Consolidating Financial Statements (Condensed Consolidated Statement of Cash Flows) (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2017	Jan. 01, 2017
Condensed Consolidated Cash Flow Statements, Captions [Line Items]
Cash provided by (used for) operating activities	$ 243,107	$ 57,891
Capital expenditures	(43,561)	(49,302)
Due from affiliates	0	0
Acquisition of businesses, net of cash acquired	0	(458,149)
Proceeds from the disposition of property, plant, and equipment	88	92
Cash used for investing activities	(43,473)	(507,359)
Due to (from) affiliates	0	0
Borrowings on line of credit	250,000	445,000
Payments made on line of credit	(410,000)	(255,000)
Proceeds from issuance of long-term debt	0	307,500
Payments made on long-term debt	(24,000)	(24,000)
Payments made for debt issuance costs	(1,805)	(3,660)
Purchase of treasury shares	0	(122,860)
Deferred payments for acquisitions	(1,348)	(7,136)
Proceeds from employee stock compensation plans	4,237	75
Cash (used for) provided by financing activities	(182,916)	339,919
Effect of foreign exchange rate fluctuations on cash	1,486	(1,302)
Increase (decrease) in cash and cash equivalents	18,204	(110,851)
Cash and cash equivalents at beginning of period	45,075	151,692
Cash and cash equivalents at end of period	63,279	40,841
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	192,374	116,584
Acquisition of businesses, net of cash acquired		0
Proceeds from the disposition of property, plant, and equipment	0	0
Cash used for investing activities	192,374	116,584
Due to (from) affiliates	(192,374)	(116,584)
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
Deferred payments for acquisitions	0	0
Proceeds from employee stock compensation plans	0	0
Cash (used for) provided by financing activities	(192,374)	(116,584)
Effect of foreign exchange rate fluctuations on cash	0	0
Increase (decrease) 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	(21,251)	11,298
Capital expenditures	0	0
Due from affiliates	0	0
Acquisition of businesses, net of cash acquired		(465,684)
Proceeds from the disposition of property, plant, and equipment	0	0
Cash used for investing activities	0	(465,684)
Due to (from) affiliates	204,167	114,467
Borrowings on line of credit	250,000	445,000
Payments made on line of credit	(410,000)	(255,000)
Proceeds from issuance of long-term debt		307,500
Payments made on long-term debt	(24,000)	(24,000)
Payments made for debt issuance costs	(1,805)	(3,660)
Purchase of treasury shares		(122,860)
Deferred payments for acquisitions	(1,348)	(7,136)
Proceeds from employee stock compensation plans	4,237	75
Cash (used for) provided by financing activities	21,251	454,386
Effect of foreign exchange rate fluctuations on cash	0	0
Increase (decrease) 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	256,539	42,021
Capital expenditures	(42,744)	(48,443)
Due from affiliates	(192,374)	(116,584)
Acquisition of businesses, net of cash acquired		7,149
Proceeds from the disposition of property, plant, and equipment	30	42
Cash used for investing activities	(235,088)	(157,836)
Due to (from) 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
Deferred payments for acquisitions	0	0
Proceeds from employee stock compensation plans	0	0
Cash (used for) provided by financing activities	0	0
Effect of foreign exchange rate fluctuations on cash	0	0
Increase (decrease) in cash and cash equivalents	21,451	(115,815)
Cash and cash equivalents at beginning of period	23,027	133,503
Cash and cash equivalents at end of period	44,478	17,688
Non-Guarantors | Reportable Legal Entities
Condensed Consolidated Cash Flow Statements, Captions [Line Items]
Cash provided by (used for) operating activities	7,819	4,572
Capital expenditures	(817)	(859)
Due from affiliates	0	0
Acquisition of businesses, net of cash acquired		386
Proceeds from the disposition of property, plant, and equipment	58	50
Cash used for investing activities	(759)	(423)
Due to (from) affiliates	(11,793)	2,117
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
Deferred payments for acquisitions	0	0
Proceeds from employee stock compensation plans	0	0
Cash (used for) provided by financing activities	(11,793)	2,117
Effect of foreign exchange rate fluctuations on cash	1,486	(1,302)
Increase (decrease) in cash and cash equivalents	(3,247)	4,964
Cash and cash equivalents at beginning of period	22,048	18,189
Cash and cash equivalents at end of period	$ 18,801	$ 23,153

Operating Segment Information66

Operating Segment Information (Narrative) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017USD ($)	Jan. 01, 2017USD ($)	Dec. 31, 2017USD ($)segment	Jan. 01, 2017USD ($)
Revenue, Major Customer [Line Items]
Number of operating segments | segment			2
Segment Reporting, Disclosure of Major Customers			Walmart
Segment Reporting Information, Intersegment Revenue | $	$ 1,946	$ 1,769	$ 4,198	$ 3,518
Sales Revenue, Net | Customer Concentration Risk
Revenue, Major Customer [Line Items]
Concentration Risk, Percentage			14.00%	11.00%
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 Information67

Operating Segment Information (Schedule of Results by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Jan. 01, 2017	Dec. 31, 2017	Jan. 01, 2017
Segment Reporting Information [Line Items]
Sales, net	$ 581,204	$ 653,558	$ 1,737,236	$ 1,968,139
Gross profit	126,105	168,606	411,640	525,392
Corporate
Segment Reporting Information [Line Items]
Gross profit	(56)	(115)	(298)	(436)
Outdoor Products | Operating Segments
Segment Reporting Information [Line Items]
Sales, net	294,878	292,800	876,489	900,981
Gross profit	74,175	71,161	226,293	235,818
Shooting Sports | Operating Segments
Segment Reporting Information [Line Items]
Sales, net	286,326	360,758	860,747	1,067,158
Gross profit	$ 51,986	$ 97,560	$ 185,645	$ 290,010