Vista Outdoor (GEAR) 10-Q 8 Aug 19 2020 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Jun. 30, 2019	Jul. 29, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2019
Document Transition Report	false
Entity File Number	1-36597
Entity Registrant Name	Vista Outdoor Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-1016855
Entity Address, Address Line One	1 Vista Way
Entity Address, City or Town	Anoka
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55303
City Area Code	763
Local Phone Number	433-1000
Title of 12(b) Security	Common Stock, par value $.01
Trading Symbol	VSTO
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		57,753,803
Entity Central Index Key	0001616318
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019
Current assets:
Cash and cash equivalents	$ 31,595	$ 21,935
Net receivables	363,364	344,249
Net inventories	387,676	344,491
Assets held for sale	195,938	207,607
Other current assets	23,678	21,180
Total current assets	1,002,251	939,462
Net property, plant, and equipment	207,416	215,592
Operating lease assets	72,349	0
Goodwill	204,496	204,496
Net intangible assets	355,699	360,520
Deferred charges and other non-current assets	19,090	17,953
Total assets	1,861,301	1,738,023
Current liabilities:
Current portion of long-term debt	19,335	19,335
Accounts payable	128,670	99,283
Accrued compensation	25,421	36,456
Accrued Income Taxes, Current	845	436
Federal excise tax	20,128	18,482
Liabilities held for sale	38,733	46,030
Other current liabilities	105,061	97,175
Total current liabilities	338,193	317,197
Long-term debt	740,312	684,670
Deferred income tax liabilities	17,214	17,757
Operating lease liabilities	75,799	0
Accrued pension and postemployment benefits	45,423	46,083
Other long-term liabilities	49,411	63,276
Total liabilities	1,266,352	1,128,983
Commitments and contingencies (Notes 3, 13, and 16)
Issued and outstanding — 57,745,745 shares as of June 30, 2019 and 57,710,934 shares as of March 31, 2019	577	577
Additional paid-in capital	1,752,760	1,752,419
Accumulated deficit	(821,584)	(804,969)
Accumulated other comprehensive loss	(82,620)	(82,967)
Common stock in treasury, at cost — 6,218,694 shares held as of June 30, 2019 and 6,253,505 shares held as of March 31, 2019	(254,184)	(256,020)
Total stockholders' equity	594,949	609,040
Total liabilities and stockholders' equity	$ 1,861,301	$ 1,738,023

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - $ / shares	Jun. 30, 2019	Mar. 31, 2019
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	500,000,000	500,000,000
Common stock, issued (in shares)	57,551,275	57,431,299
Common stock, outstanding (in shares)	57,551,275	57,431,299
Common stock in treasury (in shares)	6,413,164	6,533,140

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Income Statement [Abstract]
Sales, net	$ 459,774	$ 528,836
Cost of sales	364,696	415,498
Gross profit	95,078	113,338
Operating expenses:
Research and development	6,494	6,968
Selling, general, and administrative	83,909	101,054
Impairment of held-for-sale assets	9,429	44,921
Income (loss) before interest and income taxes	(4,754)	(39,605)
Interest expense, net	(11,124)	(13,472)
Income (loss) before income taxes	(15,878)	(53,077)
Income tax provision (benefit)	737	(729)
Net income (loss)	$ (16,615)	$ (52,348)
Earnings (loss) per common share:
Basic (in dollars per share)	$ (0.29)	$ (0.91)
Diluted (in dollars per share)	$ (0.29)	$ (0.91)
Weighted-average number of common shares outstanding:
Basic (in shares)	57,722	57,454
Diluted (in shares)	57,722	57,454
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 $0 and $19, respectively.	$ (78)	$ (60)
Reclassification of net actuarial loss for pension and postretirement benefit plans recorded to net income, net of tax expense of $0 and $(171), respectively.	811	543
Change in derivatives, net of tax expense of $0 and $(63), respectively.	(1,150)	200
Change in cumulative translation adjustment.	764	(7,146)
Total other comprehensive income (loss)	347	(6,463)
Comprehensive income (loss)	$ (16,268)	$ (58,811)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Income Statement [Abstract]
Reclassification of prior service credits for pension and postretirement benefit plans recorded to net income, net of tax benefit	$ 0	$ 19
Reclassification of net actuarial loss for pension and postretirement benefit plans recorded to net income, net of tax expense	0	(171)
Change in derivatives, net of tax expense	0	(63)
Change in cumulative translation adjustment, net of tax benefit	$ 0	$ 0

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Operating Activities
Net income (loss)	$ (16,615)	$ (52,348)
Adjustments to net income (loss) to arrive at cash (used for) provided by operating activities:
Depreciation	11,290	14,139
Amortization of intangible assets	5,097	6,842
Impairment of held-for-sale assets	9,429	44,921
Amortization of deferred financing costs	580	1,268
Deferred income taxes	(168)	(3,302)
Loss on disposal of property, plant, and equipment	0	(50)
Stock-based compensation	2,190	2,368
Changes in assets and liabilities:
Net receivables	(4,749)	26,935
Net inventories	(53,811)	(36,620)
Accounts payable	29,098	55,945
Accrued compensation	(11,026)	(9,555)
Accrued income taxes	992	(617)
Federal excise tax	(881)	(52)
Pension and other postretirement benefits	101	(184)
Other assets and liabilities	(7,695)	24,482
Cash (used for) provided by operating activities	(36,168)	74,172
Investing Activities:
Capital expenditures	(9,212)	(9,949)
Proceeds from the disposition of property, plant, and equipment	85	65
Cash used for investing activities	(9,127)	(9,884)
Financing Activities:
Borrowings on lines of credit	120,239	40,000
Payments on lines of credit	(60,240)	(40,000)
Payments made on long-term debt	(4,834)	(33,000)
Payments made for debt issuance costs	(103)	(2,759)
Settlement from former parent	0	13,047
Shares withheld for payroll taxes	(297)	(830)
Cash provided by (used for) financing activities	54,765	(23,542)
Effect of foreign exchange rate fluctuations on cash	190	(256)
Increase in cash and cash equivalents	9,660	40,490
Cash and cash equivalents at beginning of period	21,935	22,870
Cash and cash equivalents at end of period	31,595	63,360
Non-cash investing activity:
Capital expenditures included in accounts payable	$ 2,531	$ 2,613

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (unaudited) - USD ($) $ in Thousands	Total	Common Stock $.01 Par Value	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss	Treasury Stock
Balance (in shares) at Mar. 31, 2018		57,431,299
Balance at Mar. 31, 2018	$ 1,217,490	$ 574	$ 1,746,182	$ (156,526)	$ (104,296)	$ (268,444)
Increase (Decrease) in Stockholders' Equity
Comprehensive income (loss)	(58,811)			(52,348)	(6,463)
Share-based compensation	2,368		2,380			(12)
Restricted stock vested and shares withheld (in shares)		24,430
Restricted stock vested and shares withheld	(269)		(1,755)			1,486
Employee stock purchase plan (in shares)		7,241
Employee stock purchase plan	107		(192)			299
Settlement from former parent	13,047		13,047
Other (in shares)		58,935
Other	5	$ 1	(980)			984
Balance (in shares) at Jul. 01, 2018		57,521,905
Balance at Jul. 01, 2018	1,173,937	$ 575	1,758,682	(208,874)	(110,759)	(265,687)
Balance (in shares) at Mar. 31, 2019		57,710,934
Balance at Mar. 31, 2019	609,040	$ 577	1,752,419	(804,969)	(82,967)	(256,020)
Increase (Decrease) in Stockholders' Equity
Comprehensive income (loss)	(16,268)			(16,615)	347
Share-based compensation	2,190		2,190			0
Restricted stock vested and shares withheld (in shares)		23,059
Restricted stock vested and shares withheld	(106)		(1,534)			1,428
Employee stock purchase plan (in shares)		11,028
Employee stock purchase plan	93		(358)			451
Settlement from former parent	0
Other (in shares)		724
Other	0	$ 0	43			(43)
Balance (in shares) at Jun. 30, 2019		57,745,745
Balance at Jun. 30, 2019	$ 594,949	$ 577	$ 1,752,760	$ (821,584)	$ (82,620)	$ (254,184)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (unaudited) (Parenthetical) - $ / shares	Jun. 30, 2019	Mar. 31, 2019
Statement of Stockholders' Equity [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Nature of Operations —Vista Outdoor Inc. (together with our subsidiaries, "Vista Outdoor", "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 Anoka, Minnesota and has manufacturing and distribution facilities in 18 U.S. States, Canada, Mexico, and Puerto Rico along with international customer service, sales and sourcing operations in Asia, Canada, and Europe. Vista Outdoor was incorporated in Delaware in 2014. The consolidated financial statements reflect our financial position, results of operations, and cash flows in conformity with U.S. generally accepted accounting principles. This Quarterly Report on Form 10-Q should be read in conjunction with our consolidated financial statements and notes included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2019 (“fiscal 2019”). 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 financial statements in our Annual Report on Form 10-K for fiscal 2019. 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 June 30, 2019 and March 31, 2019 , our results of operations for the quarters ended June 30, 2019 and July 1, 2018 , and our cash flows for the quarters ended June 30, 2019 and July 1, 2018 . New Accounting Pronouncements Our accounting policies are described in Note 1 of the Notes to Consolidated Financial Statements included in our fiscal year 2019 Annual Report on Form 10-K. Such significant accounting policies are applicable for periods prior to the adoption of the following new accounting standards. In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards update ("ASU") 2016-02, “Leases" (Topic 842), which requires lessees to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. We adopted ASU 2016-02 prospectively starting on April 1, 2019. As part of the adoption, we elected the package of practical expedients which permits us under the new standard not to reassess historical lease classification, not to recognize short-term leases on our balance sheet, and not to separate lease and non-lease components for all its leases. In addition, we elected the use of hindsight to determine the lease term of its leases and applied its incremental borrowing rate based on the remaining term of its leases as of the adoption date. The impact upon adoption, on April 1, 2019, resulted in the recognition of right-of-use assets of approximately $75,749 , and lease liabilities of approximately $91,604 on our unaudited condensed consolidated balance sheet. See Note 3 , Leases , for additional information. In August 2018, the FASB issued ASU 2018-15, “Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract.” ASU 2018-15 clarifies the accounting treatment for fees paid by a customer in a cloud computing arrangement (hosting arrangement) by providing guidance for determining when the arrangement includes a software license. ASU 2018-15 is effective for public business entities for fiscal years, and interim periods within those years, beginning after December 15, 2019, with early adoption permitted. ASU 2018-15 may be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. We are currently assessing the impact that adoption of ASU 2018-15 will have on the consolidated financial statements.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Jun. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	The current authoritative guidance on fair value clarifies the definition of fair value, prescribes a framework for measuring fair value, establishes a fair value hierarchy based on the inputs used to measure fair value, and expands disclosures about the use of fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The valuation techniques required by the current authoritative literature are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect internal market assumptions. These two types of inputs create the following fair value hierarchy: Level 1—Quoted prices for identical instruments in active markets. Level 2—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations whose inputs are observable or whose significant value drivers are observable. Level 3—Significant inputs to the valuation model are unobservable. The following section describes the valuation methodologies we used to measure our financial instruments at fair value. Long-term debt —The fair value of the variable-rate long-term debt is calculated based on current market rates for debt of the same risk and maturities. The fair value of the fixed-rate debt is based on market quotes for each issuance. 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 13 , Long-term Debt , for additional information. Commodity Price Hedging Instruments —We periodically enter into commodity forward contracts to hedge our exposure to price fluctuations on certain commodities we use for raw material components in our manufacturing process. When actual commodity prices exceed the fixed price provided by these contracts, we receive this difference from the counterparty, and when actual commodity prices are below the contractually provided fixed price, we pay this difference to the counterparty. We consider these to be Level 2 instruments. See Note 4 , Derivative Financial Instruments , for additional information. 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. 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, approximately $10,000 of the purchase price 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 to be paid in three equal installments as each milestone is achieved. The growth milestones for the second year have been met and, therefore, we paid $3,371 during the quarter ended December 30, 2018. The third installment is expected to be paid during the third quarter of fiscal 2020. 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: June 30, 2019 March 31, 2019 Carrying Fair Carrying Fair Fixed-rate debt $ 350,000 $ 341,555 $ 350,000 $ 326,375 Variable-rate debt 419,676 419,676 364,509 364,509

Leases

Leases	3 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	Leases We lease certain warehouse and distribution space, manufacturing space, office space, retail locations, equipment and vehicles. All of these leases are classified as operating leases. Operating lease assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. These rates are assessed on a quarterly basis. The operating lease assets also include any lease payments made less lease incentives. Leases with an initial term of 12 months or less are not recorded on the balance sheet. For operating leases, expense is recognized on a straight-line basis over the lease term. Variable lease payments associated with the Company's leases are recognized upon occurrence of the event, activity, or circumstance in the lease agreement on which those payments are assessed. Tenant improvement allowances were recorded as leasehold improvements with an offsetting adjustment included in the Company’s calculation of its right-of-use asset. Many leases include one or more options to renew, with renewal terms that can extend the lease term for three years or more. The exercise of lease renewal options is at our sole discretion. The depreciable life of assets and leasehold improvements are limited by the expected lease term. The amounts of assets and liabilities related to our operating leases follow. Balance Sheet Caption June 30, 2019 Assets: Operating lease assets Operating lease assets $ 72,349 Liabilities: Current: Operating lease liabilities Other current liabilities $ 12,196 Long-term: Operating lease liabilities Long-term operating lease liabilities 75,799 Total lease liabilities $ 87,995 The components of lease expense are recorded to cost of sales, and selling, general and administration expenses in the unaudited condensed consolidated statements of comprehensive income (loss). The components of lease expense were as follows: 3 months ended June 30, 2019 Fixed operating lease costs $ 5,017 Variable operating lease costs 535 Sublease income (281 ) Net Lease costs $ 5,271 June 30, 2019 Weighted Average Remaining Lease Term (Years): Operating leases 9.89 Weighted Average Discount Rate: Operating leases 8.61 % The approximate future minimum lease payments under operating leases at June 30, 2019 follow. Remainder of fiscal 2020 $ 14,570 Fiscal 2021 16,560 Fiscal 2022 13,265 Fiscal 2023 11,574 Fiscal 2024 10,242 Thereafter 69,804 Total lease payments 136,015 Less imputed interest (48,020 ) Present value of lease liabilities $ 87,995 Supplemental cash flow information related to leases is as follows: 3 months ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows - operating leases $ 5,205 Right of use assets obtained in exchange for lease liabilities: Operating leases 701

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Jun. 30, 2019
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 rates, 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 13 , Long-term Debt , for additional information on our interest rate swaps. We entered into various commodity forward contracts during fiscal 2020 and 2019. These contracts are used to hedge our exposure to price fluctuations on lead we purchase for raw material components in our ammunition manufacturing process and are designated and qualify as effective cash flow hedges. The effectiveness of cash flow hedges is assessed at inception and quarterly thereafter. Hedge accounting would cease if it became probable that the originally-forecasted hedged transaction will not occur. The related change in fair value of the ineffective portion of the derivative instrument would be reclassified from accumulated other comprehensive income (loss) and recognized in earnings. The fair value of the lead 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 lead forward contracts are recorded in inventory as the commodities are purchased and in cost of sales when the related inventory is sold. As of June 30, 2019 , we had outstanding lead forward contracts on 13.4 million pounds of lead. The derivative gains or losses in the unaudited condensed consolidated statements of comprehensive income (loss) related to lead forward contracts during the quarter ended June 30, 2019 were immaterial. The liability related to the lead forward contracts is immaterial and is recorded as part of other current liabilities.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The following tables disaggregate our net sales by major category: 3 months ended June 30, 2019 3 months ended July 1, 2018 Outdoor Products Shooting Sports Total Outdoor Products Shooting Sports Total Ammunition $ — $ 213,810 $ 213,810 $ — $ 217,122 $ 217,122 Firearms — 24,017 24,017 — 40,934 40,934 Hunting and Shooting Accessories 95,861 — 95,861 103,688 — 103,688 Action Sports 67,909 — 67,909 71,708 — 71,708 Outdoor Recreation 58,177 — 58,177 63,113 — 63,113 Eyewear — — — 32,271 — 32,271 Total $ 221,947 $ 237,827 $ 459,774 $ 270,780 $ 258,056 $ 528,836 Geographic Region United States $ 171,795 $ 209,361 $ 381,156 $ 196,649 $ 231,894 $ 428,543 Rest of the World 50,152 28,466 78,618 74,131 26,162 100,293 Total $ 221,947 $ 237,827 $ 459,774 $ 270,780 $ 258,056 $ 528,836 Typically, our contracts require customers to pay within 30 - 60 days of product delivery with a discount available to some customers for early payment. In some cases, we offer extended payment terms to customers. However, we do not consider these extended payment terms to be a significant financing component of the contract because the payment terms are less than a year. We recognize revenue for our products at a point in time upon the transfer of control of the products to the customer, which typically occurs upon shipment and coincides with our right to payment, the transfer of legal title, and the transfer of the significant risks and rewards of ownership of the product. In limited circumstances, our contract with a customer may have shipping terms that indicate a transfer of control of the products upon their arrival at the destination rather than upon shipment. In those cases, we recognize revenue only when the product reaches the customer destination, which may require us to estimate the timing of transfer of control based on the expected delivery date. In all cases, however, we consider our costs related to shipping and handling to be a cost of fulfilling the contract with the customer. The total amount of revenue we recognize for the sale of our products reflects various sales adjustments for discounts, returns, refunds, allowances, rebates, and other customer incentives. These sales adjustments can vary based on market conditions, customer preferences, timing of customer payments, volume of products sold, and timing of new product launches. These adjustments require management to make reasonable estimates of the amount we expect to receive from the customer. The total amount of revenue we recognize for the sale of our products reflects various sales adjustments for discounts, returns, refunds, allowances, rebates, and other customer incentives. These sales adjustments can vary based on market conditions, customer preferences, timing of customer payments, volume of products sold, and timing of new product launches. These adjustments require management to make reasonable estimates of the amount we expect to receive from the customer. We estimate sales adjustments by customer or by product category on the basis of our historical experience with similar contracts with customers, adjusted as necessary to reflect current facts and circumstances and our expectations for the future. Sales taxes, firearms and ammunition excise tax and other similar taxes are excluded from revenue. Incentives in the form of cash paid to the customer (or a reduction of a customer cash payment to us) typically are recognized as a reduction of sales unless the incentive is for a distinct benefit that we receive from the customer (e.g., advertising or marketing). We provide consumer warranties against manufacturing defects on certain products within the Shooting Sports and Outdoor Products segments. Our warranty periods typically range from one year to the lifetime of the product. The costs of such product warranties are recognized upon delivery of the product at the time the sale is recorded, and are estimated based on our past experience.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The computation of earnings per share ("EPS") includes Basic EPS computed based upon the weighted average number of common shares outstanding for each period. Diluted EPS is computed based on the weighted average number of common shares and common equivalent shares. Common equivalent shares represent the effect of stock-based awards during each period presented, which, if exercised or earned, would have a dilutive effect on EPS. In computing EPS for the quarters ended June 30, 2019 and July 1, 2018 , earnings, as reported for each respective period, is divided by the number of shares below: 3 months ended June 30, 2019 July 1, 2018 Net income (loss) $ (16,615 ) $ (52,348 ) Weighted-average number of common shares outstanding: Basic EPS shares outstanding 57,722 57,454 Dilutive effect of stock-based awards (1) — — Diluted EPS shares outstanding 57,722 57,454 Earnings (loss) per common share: Basic $ (0.29 ) $ (0.91 ) Diluted $ (0.29 ) $ (0.91 ) (1) Due to the loss from continuing operations in the quarters ended June 30, 2019 and July 1, 2018 , there are no common shares added to calculate dilutive EPS because the effect would be antidilutive.

Assets and Liabilities Held for

Assets and Liabilities Held for Sale	3 Months Ended
	Jun. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
Assets and Liabilities Held for Sale	Assets and Liabilities Held for Sale Subsequent to quarter-end we entered into a purchase agreement for the sale of the legal entities comprising our firearms business, which is part of our Shooting Sports segment and comprises our Firearms reporting unit. See Note 19 , Subsequent Events . The decision to sell this business reflects our ongoing review of our portfolio of brands to focus our attention on assets that are core to our mission and strategy. The gross proceeds from the divestiture will be approximately $170,000 , subject to reductions for fair value, net working capital adjustments and transaction costs. We measured this business at the lower of its carrying value or fair value less any costs to sell, and subsequently recognized additional impairment of $9,429 during the quarter. Impairment of $120,238 was recognized during fiscal 2019. The operating results of this business do not qualify for reporting as discontinued operations. For the quarters ended June 30, 2019 and July 1, 2018 , the earnings before interest and taxes for this business were $1,230 and $2,962 , respectively. The following table presents information related to the assets and liabilities of the firearms business that was classified as held for sale at June 30, 2019 : Assets and Liabilities Held for Sale June 30, 2019 Assets Net receivables $ 37,047 Net inventories 45,446 Other current assets 1,476 Net property, plant, and equipment 37,976 Goodwill 121,666 Net intangible assets 79,809 Deferred charges and other non-current assets 2,184 Total assets held for sale $ 325,604 Liabilities Accounts payable $ 10,698 Accrued compensation 1,640 Accrued income taxes 282 Federal excise tax 2,039 Other current liabilities 1,574 Other long-term liabilities 522 Deferred tax liabilities 21,978 Total liabilities held for sale $ 38,733 Total net assets held for sale $ 286,871 Total net assets held for sale $ 286,871 Currency translation adjustment attributable to firearms business 3,045 Total net assets including currency translation adjustment 289,916 Estimated fair value less costs to sell 160,250 Impairment of held-for-sale goodwill and assets $ 129,666 Total assets held for sale $ 325,604 Impairment of held-for-sale goodwill and assets (129,666 ) Adjusted assets held for sale $ 195,938 During the quarter ended July 1, 2018 , we recognized an impairment of $44,921

Receivables

Receivables	3 Months Ended
	Jun. 30, 2019
Receivables [Abstract]
Receivables	Receivables Net receivables are summarized as follows: June 30, 2019 March 31, 2019 Trade receivables $ 370,914 $ 356,035 Other receivables 11,722 7,106 Less: allowance for doubtful accounts and discounts (19,272 ) (18,892 ) Net receivables $ 363,364 $ 344,249 Walmart represented 16% and 14% of the total trade receivables balance as June 30, 2019 and March 31, 2019 , respectively. No other customer represented more than 10% of our total trade receivables balance as of June 30, 2019 and March 31, 2019

Inventories

Inventories	3 Months Ended
	Jun. 30, 2019
Inventory Disclosure [Abstract]
Inventories	Inventories Net inventories consist of the following: June 30, 2019 March 31, 2019 Raw materials $ 95,463 $ 65,240 Work in process 32,285 32,213 Finished goods 259,928 247,038 Net inventories $ 387,676 $ 344,491 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 $17,615 and $16,227 as of June 30, 2019 and March 31, 2019

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss (AOCL)	3 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Accumulated Other Comprehensive Loss (AOCL)	The components of AOCL, net of income taxes, are as follows: June 30, 2019 March 31, 2019 Pension and other postretirement benefits $ (73,937 ) $ (74,670 ) Derivatives (415 ) 735 Cumulative translation adjustment (8,268 ) (9,032 ) Total AOCL $ (82,620 ) $ (82,967 ) The following tables summarize the changes in the balance of AOCL, net of income tax: 3 months ended June 30, 2019 Derivatives Pension and other postretirement benefits Cumulative translation adjustment Total Beginning balance in AOCL $ 735 $ (74,670 ) $ (9,032 ) $ (82,967 ) Net actuarial losses reclassified from AOCL (1) — 811 — 811 Prior service costs reclassified from AOCL (1) — (78 ) — (78 ) Net decrease in fair value of derivatives (1,150 ) — — (1,150 ) Net change in cumulative translation adjustment — — 764 764 Ending balance in AOCL $ (415 ) $ (73,937 ) $ (8,268 ) $ (82,620 ) (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. 3 months ended July 1, 2018 Derivatives Pension and other postretirement benefits Cumulative translation adjustment Total Beginning balance in AOCL $ 1,904 $ (66,656 ) $ (39,544 ) $ (104,296 ) Net actuarial losses reclassified from AOCL (1) — 543 — 543 Prior service costs reclassified from AOCL (1) — (60 ) — (60 ) Net increase in fair value of derivatives 200 — — 200 Net change in cumulative translation adjustment — — (7,146 ) (7,146 ) Ending balance in AOCL $ 2,104 $ (66,173 ) $ (46,690 ) $ (110,759 ) (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 Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets There were no changes in the carrying amount of goodwill during the quarter ended June 30, 2019 . The carrying amounts of goodwill for our Outdoor Products and Shooting Sports segments as of June 30, 2019 were $121,329 and $83,167 , respectively, for a consolidated balance of $204,496 . Net intangible assets other than goodwill consisted of the following: June 30, 2019 March 31, 2019 Gross Accumulated Total Gross Accumulated Total Trade names $ 48,360 $ (11,628 ) $ 36,732 $ 48,360 $ (10,694 ) $ 37,666 Patented technology 16,684 (9,828 ) 6,856 16,684 (9,604 ) 7,080 Customer relationships and other 238,742 (71,995 ) 166,747 238,595 (68,185 ) 170,410 Total 303,786 (93,451 ) 210,335 303,639 (88,483 ) 215,156 Non-amortizing trade names 145,364 — 145,364 145,364 — 145,364 Net intangible assets $ 449,150 $ (93,451 ) $ 355,699 $ 449,003 $ (88,483 ) $ 360,520 Amortization expense for the quarters ended June 30, 2019 and July 1, 2018 was $5,097 and $6,842 , respectively. As of June 30, 2019 , we expect amortization expense related to these assets to be as follows: Remainder of fiscal 2020 $ 14,931 Fiscal 2021 19,886 Fiscal 2022 19,831 Fiscal 2023 19,715 Fiscal 2024 19,663 Thereafter 116,309 Total $ 210,335

Other Current and Non-current L

Other Current and Non-current Liabilities	3 Months Ended
	Jun. 30, 2019
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: June 30, 2019 March 31, 2019 Other current liabilities: Accrual for in-transit inventory $ 23,568 $ 11,275 Rebate accrual 10,387 13,911 Other 71,106 71,989 Total other current liabilities $ 105,061 $ 97,175 Other non-current liabilities: Non-current portion of accrued income tax liability $ 34,730 $ 34,118 Other 14,681 29,158 Total other non-current liabilities $ 49,411 $ 63,276 We provide consumer warranties against manufacturing defects on certain products within the Shooting Sports and Outdoor Products segments with warranty periods ranging from one year to the expected 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 periods presented: Balance, March 31, 2019 $ 8,144 Payments made (364 ) Warranties issued 479 Other adjustments 74 Changes related to pre-existing warranties (33 ) Balance, June 30, 2019 $ 8,300

Long-term Debt

Long-term Debt	3 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt Long-term debt, including the current portion, consisted of the following: June 30, 2019 March 31, 2019 Credit Agreements: ABL Revolving Credit Facility $ 280,000 $ 220,000 Term Loan 99,676 104,509 Junior Term Loan 40,000 40,000 Total principal amount of Credit Agreements 419,676 364,509 5.875% Senior Notes 350,000 350,000 Principal amount of long-term debt 769,676 714,509 Less: unamortized deferred financing costs (10,029 ) (10,504 ) Carrying amount of long-term debt 759,647 704,005 Less: current portion (19,335 ) (19,335 ) Carrying amount of long-term debt, excluding current portion $ 740,312 $ 684,670 Credit Agreements —In fiscal 2019, we refinanced our Amended and Restated Credit Agreement dated April 1, 2016, by entering into the New Credit Facilities, which provide for (a) a $450,000 senior secured asset-based revolving credit facility (the “ABL Revolving Credit Facility”), comprised of $20,000 in first-in, last-out (“FILO”) revolving credit commitments and $430,000 in non-FILO revolving credit commitments, (b) a $109,343 senior secured asset-based term loan facility (the “Term Loan”) and (c) the $40,000 Junior Term Loan. The amount available under the ABL Revolving Credit Facility is the lesser of the total commitment of $450,000 or a borrowing base based on percentages of eligible receivables, inventory, and cash, minus certain reserves. As of June 30, 2019 , based on the borrowing base less outstanding borrowings of $280,000 and outstanding letters of credit of $24,974 , the amount available to us under the ABL Revolving Credit Facility was $77,223 . The New Credit Facilities each mature on November 19, 2023 (the “Maturity Date”), subject to a customary springing maturity in respect of the 5.875% Notes due 2023. The loans under the Term Loan are subject to quarterly principal repayments of $4,834 on the first business day of each January, April, July, and October, with the remaining balance due on the Maturity Date. The FILO commitments under the ABL Revolving Credit Facility are subject to reductions of $1,667 on the first business day of each fiscal quarter beginning on April 1, 2019. The balance of the FILO revolving credit commitment as of June 30, 2019 was $18,333 . Any outstanding revolving loans under the ABL Revolving Credit Facility will be payable in full on the Maturity Date. There are no scheduled principal payments under the Junior Term Loan, which will be payable in full on the Maturity Date. Borrowings under the ABL Revolving Credit Facility bear interest at a rate equal to, in the case of (a) non-FILO revolving credit loans, either the sum of a base rate plus a margin ranging from 0.75% to 1.25% or the sum of a LIBO rate plus a margin ranging from 1.75% to 2.25% , and (b) FILO revolving credit loans, a rate that is 1.00% higher than the rate paid on the non-FILO revolving credit loans. All such rates vary based on our Average Excess Availability under the ABL Revolving Credit Facility. As of June 30, 2019 , the margin under the (1) ABL Revolving Credit Facility was, in the case of (a) non-FILO revolving credit loans, 1.25% for base rate loans and 2.25% for LIBO rate loans and (b) FILO revolving credit loans, 2.25% for base rate loans and 3.25% for LIBO rate loans, (2) Term Loan was 2.75% for base rate loans and 3.75% for LIBO rate loans, and (3) Junior Term Loan was 8.00% for base rate loans and 9.00% for LIBO rate loans. The weighted average interest rate for our borrowings under the New Credit Facilities as of June 30, 2019 was 5.84% , excluding the impact of the interest rate swaps that are discussed below. We pay a commitment fee on the unused commitments under the ABL Revolving Credit Facility of 0.25% per annum. Substantially all domestic tangible and intangible assets of Vista Outdoor and our domestic 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 New Credit Facilities. Debt issuance costs related to the New Credit Facilities, including a portion of the existing unamortized debt issuance costs, totaling approximately $12,100 are being amortized over the term of the New Credit Facilities. 5.875% Notes —In fiscal 2016, 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 the notes is payable semi- annually in arrears on April 1 and October 1 of each year. We have the right to redeem some or all of these notes from time to time at specified redemption prices. Debt issuance costs of approximately $4,300 are being amortized to interest expense over 8 years , the term of the notes. Rank and guarantees —The New Credit Facilities' 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 New Credit Facilities 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 • if such subsidiary guarantor has been released from its guarantees of indebtedness under the New Credit Facilities and all capital markets debt securities Interest rate swaps —During fiscal 2018, 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 June 30, 2019 , we had the following cash flow hedge interest rate swap in place: Notional Fair Value Pay Fixed Receive Floating Maturity Date Non-amortizing swap 100,000 219 1.629% 2.402% June 2020 The amount 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. Covenants New Credit Facilities —Our New Credit Facilities impose restrictions on us, including limitations on our ability to pay cash dividends, incur debt or liens, redeem or repurchase Vista Outdoor stock, enter into transactions with affiliates, make investments, merge or consolidate with others or dispose of assets. In addition, the New Credit Facilities contain financial covenants requiring us to (a) maintain Excess Availability under the ABL Revolving Credit Facility of $45,000 at all times before all amounts owing under the Term Loan Facility and the Junior Term Loan Facility have been paid in full, (b) maintain a Consolidated Fixed Charge Coverage Ratio ("FCCR"), as defined below, of not less than 1.15 :1.00 for any fiscal quarter beginning with the fiscal quarter ending on March 31, 2019 until the fiscal quarter ending immediately prior to the date the Term Loan Facility and the Junior Term Loan Facility have been paid in full, and (c) maintain a FCCR of not less than 1.00 :1.00 for any fiscal quarter ending after the Term Loan Facility and the Junior Term Loan Facility have been paid in full if Excess Availability falls below certain levels. If we do not comply with the covenants in any of the New Credit Facilities, the lenders may, subject to customary cure rights, require the immediate payment of all amounts outstanding under each of the New Credit Facilities. The FCCR is Covenant EBITDA (which includes adjustments for items such as non-recurring or extraordinary items, non-cash charges related to stock-based compensation, and intangible asset impairment charges, as well as adjustments for acquired or divested business units on a pro forma basis) less capital expenditures (subject to certain adjustments) for the past four fiscal quarters, divided by fixed charges (which includes debt principal and interest payments made since October 28, 2018, annualized; plus income tax payments and restricted payments over the past four fiscal quarters). As of June 30, 2019 , our FCCR was 1.37 . 5.875% Notes —The indenture governing the 5.875% Notes contains covenants that, among other things, limit our ability to incur or permit to exist certain liens, sell, transfer or otherwise dispose of assets, consolidate, amalgamate, merge or sell all or substantially all of our assets, enter into transactions with affiliates, enter into agreements restricting our subsidiaries’ ability to pay dividends, incur additional indebtedness, pay dividends or make other distributions or repurchase or redeem our capital stock, prepay, redeem or repurchase certain debt and make loans and investments. The New Credit Facilities and the indenture governing the 5.875% Notes contain cross-default provisions so that noncompliance with the covenants within one debt agreement could also cause a default under the other debt agreements. As of June 30, 2019 , we were in compliance with the covenants of all of the debt agreements. However, we cannot provide assurance that we will be able to comply with such financial covenants in the future because of various risks and uncertainties some of which may be beyond our control. Any failure to comply with the restrictions in the New Credit Facilities may prevent us from drawing under the ABL Revolving Credit Facility and may result in an event of default under the New Credit Facilities, which default may allow the creditors to accelerate the related indebtedness and the indebtedness under our 5.875% Notes and proceed against the collateral that secures the indebtedness. We may not have sufficient liquidity to repay the indebtedness in such circumstances. Cash paid for interest on debt —Cash paid for interest on debt, including commitment fees, for the quarters ended June 30, 2019 and July 1, 2018 totaled $15,654 and $7,073 , respectively.

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Jun. 30, 2019
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans During the quarter ended June 30, 2019 , we recognized an aggregate net benefit for employee defined benefit plans of $101 compared to $186 during the quarter ended July 1, 2018 . The decrease in income was primarily due to expected return on plan assets. Employer contributions and distributions —During the quarters ended June 30, 2019 and July 1, 2018 , there were no required contributions to the pension trust, we made no contributions to our other postretirement benefit plans, and we made no distributions to retirees under the non-qualified supplemental executive retirement plan. During the remainder of fiscal 2020 , we expect to make additional contributions to the pension trust of $3,600 . There are no expected contributions to our other postretirement benefit plans, or directly to retirees under our non-qualified supplemental executive retirement plans.

Income Taxes

Income Taxes	3 Months Ended
	Jun. 30, 2019
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 the year-to-date effective tax rate for both the current and prior year. The income tax provisions for the quarters ended June 30, 2019 and July 1, 2018 represent effective tax rates of (4.6)% and 1.4% , respectively. The decrease in the rate from the prior year quarter is primarily caused by increased valuation allowance due to the operating loss incurred during the current quarter and interest expense on uncertain tax positions, offset by the larger prior period impairment of held-for-sale assets for the quarter ended July 1, 2018. The effective tax rate for the quarter ended June 30, 2019 was lower than the statutory rate primarily because of the increased valuation allowance and interest expense on uncertain tax positions. The effective tax rate for the quarter ended July 1, 2018 was lower than the statutory rate primarily because of the operating loss in the quarter, which caused the unfavorable tax adjustments to decrease the rate. 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 following the distribution of all of the shares of our common stock on a pro rata basis to the holders of Alliant Techsystems Inc. common stock (the “Spin-Off”) with respect to tax liabilities and benefits, tax attributes, tax contests and other tax sharing regarding U.S. federal, state, local and foreign income taxes, other tax matters and related tax returns. We have joint and several liability with Orbital ATK to the IRS for the consolidated U.S. federal income taxes of the Orbital ATK consolidated group relating to the taxable periods in which we were part of that group. However, the Tax Matters Agreement specifies the portion, if any, of this tax liability for which we bear responsibility, and Orbital ATK agrees to indemnify us against any amounts for which we are not responsible. The Tax Matters Agreement also provides special rules for allocating tax liabilities in the event that the Spin-Off is determined not to be tax-free. Though valid between the parties, the Tax Matters Agreement is not binding on the IRS. The allocation of tax liabilities for the period from April 1, 2014 through the date of the Spin-Off was settled on June 15, 2018. Orbital ATK paid Vista Outdoor $13,047 to settle this matter, which was reflected as an adjustment to the distribution from Vista Outdoor to Orbital ATK at the time of the Spin-Off. 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 that included Vista Outdoor. In addition, certain of our subsidiaries filed income tax returns in foreign jurisdictions. Since 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 2012. 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 has also completed the audit of our tax return for the period that began after the Spin-Off (February 9, 2015) and ended 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. Income taxes paid, net of refunds, totaled $(253) and $3,087 for the quarters ended June 30, 2019 and July 1, 2018 , respectively. Although the timing and outcome of income tax audit settlements are uncertain, it is reasonably possible that a $9,253 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 $8,067 .

Contingencies

Contingencies	3 Months Ended
	Jun. 30, 2019
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 $729 and $729 as of June 30, 2019 and March 31, 2019 , 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	3 Months Ended
	Jun. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidating Financial Statements	Condensed Consolidating Financial Statements In accordance with the provisions of the 5.875% Notes, the outstanding notes are guaranteed on an unsecured basis, jointly and severally and fully and unconditionally, by substantially all of Vista Outdoor 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 and any subsidiaries of the parent company other than the subsidiary guarantors are minor. These guarantees are senior or senior subordinated obligations, as applicable, of the applicable subsidiary guarantors.

Operating Segment Information

Operating Segment Information	3 Months Ended
	Jun. 30, 2019
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. Each segment is described below: • Outdoor Products generated approximately 48% of our external sales in the quarter ended June 30, 2019 . The Outdoor Products product lines are action sports, archery/hunting accessories, outdoor cooking, golf, hydration products, optics, shooting accessories, and tactical products. 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. 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. • Shooting Sports generated approximately 52% of our external sales in the quarter ended June 30, 2019 . Shooting Sports product lines include centerfire ammunition, rimfire ammunition, shotshell ammunition, reloading components, and firearms. Sales to Walmart represented 14% of our sales in both the quarters ended June 30, 2019 and July 1, 2018 . No other single customer contributed 10% or more of our sales in the quarters ended June 30, 2019 and July 1, 2018 . The following summarizes our results by segment: 3 months ended June 30, 2019 July 1, 2018 Sales to external customers: Outdoor Products $ 221,947 $ 270,780 Shooting Sports 237,827 258,056 Total sales to external customers $ 459,774 $ 528,836 Gross Profit Outdoor Products $ 55,666 $ 70,950 Shooting Sports 39,412 42,388 Total gross profit $ 95,078 $ 113,338 The sales above exclude intercompany sales between Outdoor Products and Shooting Sports of $922 and $1,622 for the quarters ended June 30, 2019 and July 1, 2018 , respectively.

Subsequent Events

Subsequent Events	3 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On July 5, 2019, Vista Outdoor Inc. and one of its subsidiaries, Vista Outdoor Operations LLC, entered into a definitive agreement to sell all of the issued and outstanding equity interests of Caliber Company, the legal entity operating Vista’s Savage Arms and Stevens firearms brands, to a financial buyer, Long Range Acquisition LLC, for a total purchase price of $170,000 . The Buyer paid $158,000 in cash, subject to certain transaction adjustments, and $12,000

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 30, 2019
Accounting Policies [Abstract]
New Accounting Pronouncements	In February 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards update ("ASU") 2016-02, “Leases" (Topic 842), which requires lessees to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. We adopted ASU 2016-02 prospectively starting on April 1, 2019. As part of the adoption, we elected the package of practical expedients which permits us under the new standard not to reassess historical lease classification, not to recognize short-term leases on our balance sheet, and not to separate lease and non-lease components for all its leases. In addition, we elected the use of hindsight to determine the lease term of its leases and applied its incremental borrowing rate based on the remaining term of its leases as of the adoption date. The impact upon adoption, on April 1, 2019, resulted in the recognition of right-of-use assets of approximately $75,749 , and lease liabilities of approximately $91,604 on our unaudited condensed consolidated balance sheet. See Note 3 , Leases , for additional information.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Jun. 30, 2019
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: June 30, 2019 March 31, 2019 Carrying Fair Carrying Fair Fixed-rate debt $ 350,000 $ 341,555 $ 350,000 $ 326,375 Variable-rate debt 419,676 419,676 364,509 364,509

Leases (Tables)

Leases (Tables)	3 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Assets And Liabilities, Lessee	The amounts of assets and liabilities related to our operating leases follow. Balance Sheet Caption June 30, 2019 Assets: Operating lease assets Operating lease assets $ 72,349 Liabilities: Current: Operating lease liabilities Other current liabilities $ 12,196 Long-term: Operating lease liabilities Long-term operating lease liabilities 75,799 Total lease liabilities $ 87,995
Lessee, Operating Lease, Liability, Maturity	The approximate future minimum lease payments under operating leases at June 30, 2019 follow. Remainder of fiscal 2020 $ 14,570 Fiscal 2021 16,560 Fiscal 2022 13,265 Fiscal 2023 11,574 Fiscal 2024 10,242 Thereafter 69,804 Total lease payments 136,015 Less imputed interest (48,020 ) Present value of lease liabilities $ 87,995
Lease, Cost	The components of lease expense are recorded to cost of sales, and selling, general and administration expenses in the unaudited condensed consolidated statements of comprehensive income (loss). The components of lease expense were as follows: 3 months ended June 30, 2019 Fixed operating lease costs $ 5,017 Variable operating lease costs 535 Sublease income (281 ) Net Lease costs $ 5,271 June 30, 2019 Weighted Average Remaining Lease Term (Years): Operating leases 9.89 Weighted Average Discount Rate: Operating leases 8.61 % Supplemental cash flow information related to leases is as follows: 3 months ended June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows - operating leases $ 5,205 Right of use assets obtained in exchange for lease liabilities: Operating leases 701

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Jun. 30, 2019
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables disaggregate our net sales by major category: 3 months ended June 30, 2019 3 months ended July 1, 2018 Outdoor Products Shooting Sports Total Outdoor Products Shooting Sports Total Ammunition $ — $ 213,810 $ 213,810 $ — $ 217,122 $ 217,122 Firearms — 24,017 24,017 — 40,934 40,934 Hunting and Shooting Accessories 95,861 — 95,861 103,688 — 103,688 Action Sports 67,909 — 67,909 71,708 — 71,708 Outdoor Recreation 58,177 — 58,177 63,113 — 63,113 Eyewear — — — 32,271 — 32,271 Total $ 221,947 $ 237,827 $ 459,774 $ 270,780 $ 258,056 $ 528,836 Geographic Region United States $ 171,795 $ 209,361 $ 381,156 $ 196,649 $ 231,894 $ 428,543 Rest of the World 50,152 28,466 78,618 74,131 26,162 100,293 Total $ 221,947 $ 237,827 $ 459,774 $ 270,780 $ 258,056 $ 528,836

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Jun. 30, 2019
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	In computing EPS for the quarters ended June 30, 2019 and July 1, 2018 , earnings, as reported for each respective period, is divided by the number of shares below: 3 months ended June 30, 2019 July 1, 2018 Net income (loss) $ (16,615 ) $ (52,348 ) Weighted-average number of common shares outstanding: Basic EPS shares outstanding 57,722 57,454 Dilutive effect of stock-based awards (1) — — Diluted EPS shares outstanding 57,722 57,454 Earnings (loss) per common share: Basic $ (0.29 ) $ (0.91 ) Diluted $ (0.29 ) $ (0.91 ) (1) Due to the loss from continuing operations in the quarters ended June 30, 2019 and July 1, 2018 , there are no common shares added to calculate dilutive EPS because the effect would be antidilutive.

Assets and Liabilities Held f_2

Assets and Liabilities Held for Sale (Tables)	3 Months Ended
	Jun. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	The following table presents information related to the assets and liabilities of the firearms business that was classified as held for sale at June 30, 2019 : Assets and Liabilities Held for Sale June 30, 2019 Assets Net receivables $ 37,047 Net inventories 45,446 Other current assets 1,476 Net property, plant, and equipment 37,976 Goodwill 121,666 Net intangible assets 79,809 Deferred charges and other non-current assets 2,184 Total assets held for sale $ 325,604 Liabilities Accounts payable $ 10,698 Accrued compensation 1,640 Accrued income taxes 282 Federal excise tax 2,039 Other current liabilities 1,574 Other long-term liabilities 522 Deferred tax liabilities 21,978 Total liabilities held for sale $ 38,733 Total net assets held for sale $ 286,871 Total net assets held for sale $ 286,871 Currency translation adjustment attributable to firearms business 3,045 Total net assets including currency translation adjustment 289,916 Estimated fair value less costs to sell 160,250 Impairment of held-for-sale goodwill and assets $ 129,666 Total assets held for sale $ 325,604 Impairment of held-for-sale goodwill and assets (129,666 ) Adjusted assets held for sale $ 195,938

Receivables (Tables)

Receivables (Tables)	3 Months Ended
	Jun. 30, 2019
Receivables [Abstract]
Schedule of receivables, including amounts due under long-term contracts (contract receivables)	Net receivables are summarized as follows: June 30, 2019 March 31, 2019 Trade receivables $ 370,914 $ 356,035 Other receivables 11,722 7,106 Less: allowance for doubtful accounts and discounts (19,272 ) (18,892 ) Net receivables $ 363,364 $ 344,249

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Jun. 30, 2019
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Net inventories consist of the following: June 30, 2019 March 31, 2019 Raw materials $ 95,463 $ 65,240 Work in process 32,285 32,213 Finished goods 259,928 247,038 Net inventories $ 387,676 $ 344,491

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (AOCL) (Tables)	3 Months Ended
	Jun. 30, 2019
Equity [Abstract]
Schedule of components of AOCL, net of income taxes	The components of AOCL, net of income taxes, are as follows: June 30, 2019 March 31, 2019 Pension and other postretirement benefits $ (73,937 ) $ (74,670 ) Derivatives (415 ) 735 Cumulative translation adjustment (8,268 ) (9,032 ) Total AOCL $ (82,620 ) $ (82,967 )
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: 3 months ended June 30, 2019 Derivatives Pension and other postretirement benefits Cumulative translation adjustment Total Beginning balance in AOCL $ 735 $ (74,670 ) $ (9,032 ) $ (82,967 ) Net actuarial losses reclassified from AOCL (1) — 811 — 811 Prior service costs reclassified from AOCL (1) — (78 ) — (78 ) Net decrease in fair value of derivatives (1,150 ) — — (1,150 ) Net change in cumulative translation adjustment — — 764 764 Ending balance in AOCL $ (415 ) $ (73,937 ) $ (8,268 ) $ (82,620 ) (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. 3 months ended July 1, 2018 Derivatives Pension and other postretirement benefits Cumulative translation adjustment Total Beginning balance in AOCL $ 1,904 $ (66,656 ) $ (39,544 ) $ (104,296 ) Net actuarial losses reclassified from AOCL (1) — 543 — 543 Prior service costs reclassified from AOCL (1) — (60 ) — (60 ) Net increase in fair value of derivatives 200 — — 200 Net change in cumulative translation adjustment — — (7,146 ) (7,146 ) Ending balance in AOCL $ 2,104 $ (66,173 ) $ (46,690 ) $ (110,759 ) (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 Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in the carrying amount of goodwill by segment	There were no changes in the carrying amount of goodwill during the quarter ended June 30, 2019 . The carrying amounts of goodwill for our Outdoor Products and Shooting Sports segments as of June 30, 2019 were $121,329 and $83,167 , respectively, for a consolidated balance of $204,496 .
Schedule of net intangibles	Net intangible assets other than goodwill consisted of the following: June 30, 2019 March 31, 2019 Gross Accumulated Total Gross Accumulated Total Trade names $ 48,360 $ (11,628 ) $ 36,732 $ 48,360 $ (10,694 ) $ 37,666 Patented technology 16,684 (9,828 ) 6,856 16,684 (9,604 ) 7,080 Customer relationships and other 238,742 (71,995 ) 166,747 238,595 (68,185 ) 170,410 Total 303,786 (93,451 ) 210,335 303,639 (88,483 ) 215,156 Non-amortizing trade names 145,364 — 145,364 145,364 — 145,364 Net intangible assets $ 449,150 $ (93,451 ) $ 355,699 $ 449,003 $ (88,483 ) $ 360,520
Schedule of expected future amortization expense	As of June 30, 2019 , we expect amortization expense related to these assets to be as follows: Remainder of fiscal 2020 $ 14,931 Fiscal 2021 19,886 Fiscal 2022 19,831 Fiscal 2023 19,715 Fiscal 2024 19,663 Thereafter 116,309 Total $ 210,335

Other Current and Non-current_2

Other Current and Non-current Liabilities (Tables)	3 Months Ended
	Jun. 30, 2019
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: June 30, 2019 March 31, 2019 Other current liabilities: Accrual for in-transit inventory $ 23,568 $ 11,275 Rebate accrual 10,387 13,911 Other 71,106 71,989 Total other current liabilities $ 105,061 $ 97,175 Other non-current liabilities: Non-current portion of accrued income tax liability $ 34,730 $ 34,118 Other 14,681 29,158 Total other non-current liabilities $ 49,411 $ 63,276
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 periods presented: Balance, March 31, 2019 $ 8,144 Payments made (364 ) Warranties issued 479 Other adjustments 74 Changes related to pre-existing warranties (33 ) Balance, June 30, 2019 $ 8,300

Long-term Debt (Tables)

Long-term Debt (Tables)	3 Months Ended
	Jun. 30, 2019
Debt Disclosure [Abstract]
Schedule of long-term debt, including the current portion	Long-term debt, including the current portion, consisted of the following: June 30, 2019 March 31, 2019 Credit Agreements: ABL Revolving Credit Facility $ 280,000 $ 220,000 Term Loan 99,676 104,509 Junior Term Loan 40,000 40,000 Total principal amount of Credit Agreements 419,676 364,509 5.875% Senior Notes 350,000 350,000 Principal amount of long-term debt 769,676 714,509 Less: unamortized deferred financing costs (10,029 ) (10,504 ) Carrying amount of long-term debt 759,647 704,005 Less: current portion (19,335 ) (19,335 ) Carrying amount of long-term debt, excluding current portion $ 740,312 $ 684,670
Schedule of Interest Rate Derivatives	As of June 30, 2019 , we had the following cash flow hedge interest rate swap in place: Notional Fair Value Pay Fixed Receive Floating Maturity Date Non-amortizing swap 100,000 219 1.629% 2.402% June 2020

Operating Segment Information (

Operating Segment Information (Tables)	3 Months Ended
	Jun. 30, 2019
Segment Reporting [Abstract]
Summary Results by Segment	The following summarizes our results by segment: 3 months ended June 30, 2019 July 1, 2018 Sales to external customers: Outdoor Products $ 221,947 $ 270,780 Shooting Sports 237,827 258,056 Total sales to external customers $ 459,774 $ 528,836 Gross Profit Outdoor Products $ 55,666 $ 70,950 Shooting Sports 39,412 42,388 Total gross profit $ 95,078 $ 113,338

Significant Accounting Polici_3

Significant Accounting Policies (Details)	3 Months Ended
	Jun. 30, 2019USD ($)segmentlocation	Apr. 01, 2019USD ($)	Mar. 31, 2019USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease assets	$ 72,349,000		$ 0
Present value of lease liabilities	$ 87,995,000
Number of operating segments | segment	2
Number of states in which the entity operates | location	18
Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease assets		$ 75,749,000
Present value of lease liabilities		$ 91,604,000

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) $ in Thousands	Sep. 01, 2016USD ($)installment	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)
Assets and liabilities that are not measured on a recurring basis
Contingent consideration, liability, measurement period	3 years
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	$ 350,000
Variable-rate debt		419,676	364,509
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		341,555	326,375
Variable-rate debt		419,676	$ 364,509
Camp Chef
Assets and liabilities that are not measured on a recurring basis
Contingent consideration, liability	$ 10,000
Contingent consideration, liability, number of installments | installment	3
Change in amount of contingent consideration, liability		$ 3,371

Leases - Lease Assets and Liabi

Leases - Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019
Leases [Abstract]
Operating lease assets	$ 72,349	$ 0
Operating lease liabilities	12,196
Operating lease liabilities	75,799	$ 0
Total lease liabilities	$ 87,995

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2019USD ($)
Leases [Abstract]
Fixed operating lease costs	$ 5,017
Variable operating lease costs	535
Sublease income	(281)
Net Lease costs	$ 5,271
Weighted Average Remaining Lease Term (Years):	9 years 10 months 20 days
Weighted Average Discount Rate:	8.61%

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) $ in Thousands	Jun. 30, 2019USD ($)
Leases [Abstract]
Remainder of fiscal 2020	$ 14,570
Fiscal 2021	16,560
Fiscal 2022	13,265
Fiscal 2023	11,574
Fiscal 2024	10,242
Thereafter	69,804
Total lease payments	136,015
Less imputed interest	(48,020)
Present value of lease liabilities	$ 87,995

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2019USD ($)
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities:	$ 5,205
Right of use assets obtained in exchange for lease liabilities:	$ 701

Derivative Financial Instrume_2

Derivative Financial Instruments (Details) lb in Millions	3 Months Ended
	Jun. 30, 2019lb
Lead Forward Contract
Derivative [Line Items]
Derivative, notional amount, mass	13.4

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Disaggregation of Revenue [Line Items]
Sales, net	$ 459,774	$ 528,836
Major customer		Walmart
Minimum
Disaggregation of Revenue [Line Items]
Contract with customer, payment terms	30 days
Maximum
Disaggregation of Revenue [Line Items]
Contract with customer, payment terms	60 days
Sales Revenue, Net | Customer Concentration Risk
Disaggregation of Revenue [Line Items]
Concentration risk, percentage		14.00%
United States
Disaggregation of Revenue [Line Items]
Sales, net	$ 381,156	$ 428,543
Rest of the World
Disaggregation of Revenue [Line Items]
Sales, net	78,618	100,293
Ammunition
Disaggregation of Revenue [Line Items]
Sales, net	213,810	217,122
Firearms
Disaggregation of Revenue [Line Items]
Sales, net	24,017	40,934
Hunting and Shooting Accessories
Disaggregation of Revenue [Line Items]
Sales, net	95,861	103,688
Action Sports
Disaggregation of Revenue [Line Items]
Sales, net	67,909	71,708
Outdoor Recreation
Disaggregation of Revenue [Line Items]
Sales, net	58,177	63,113
Eyewear
Disaggregation of Revenue [Line Items]
Sales, net	0	32,271
Outdoor Products
Disaggregation of Revenue [Line Items]
Sales, net	221,947	270,780
Outdoor Products | United States
Disaggregation of Revenue [Line Items]
Sales, net	171,795	196,649
Outdoor Products | Rest of the World
Disaggregation of Revenue [Line Items]
Sales, net	50,152	74,131
Outdoor Products | Ammunition
Disaggregation of Revenue [Line Items]
Sales, net	0	0
Outdoor Products | Firearms
Disaggregation of Revenue [Line Items]
Sales, net	0	0
Outdoor Products | Hunting and Shooting Accessories
Disaggregation of Revenue [Line Items]
Sales, net	95,861	103,688
Outdoor Products | Action Sports
Disaggregation of Revenue [Line Items]
Sales, net	67,909	71,708
Outdoor Products | Outdoor Recreation
Disaggregation of Revenue [Line Items]
Sales, net	58,177	63,113
Outdoor Products | Eyewear
Disaggregation of Revenue [Line Items]
Sales, net	0	32,271
Shooting Sports
Disaggregation of Revenue [Line Items]
Sales, net	237,827	258,056
Shooting Sports | United States
Disaggregation of Revenue [Line Items]
Sales, net	209,361	231,894
Shooting Sports | Rest of the World
Disaggregation of Revenue [Line Items]
Sales, net	28,466	26,162
Shooting Sports | Ammunition
Disaggregation of Revenue [Line Items]
Sales, net	213,810	217,122
Shooting Sports | Firearms
Disaggregation of Revenue [Line Items]
Sales, net	24,017	40,934
Shooting Sports | Hunting and Shooting Accessories
Disaggregation of Revenue [Line Items]
Sales, net	0	0
Shooting Sports | Action Sports
Disaggregation of Revenue [Line Items]
Sales, net	0	0
Shooting Sports | Outdoor Recreation
Disaggregation of Revenue [Line Items]
Sales, net	0	0
Shooting Sports | Eyewear
Disaggregation of Revenue [Line Items]
Sales, net	$ 0	$ 0

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Earnings Per Share [Abstract]
Net income (loss)	$ (16,615)	$ (52,348)
Basic EPS shares outstanding (in shares)	57,722	57,454
Dilutive effect of stock-based awards (in shares)	0	0
Diluted EPS shares outstanding (in shares)	57,722	57,454
Basic (in dollars per share)	$ (0.29)	$ (0.91)
Diluted (in dollars per share)	$ (0.29)	$ (0.91)

Assets and Liabilities Held f_3

Assets and Liabilities Held for Sale (Details) - USD ($)	3 Months Ended		12 Months Ended	15 Months Ended
	Jun. 30, 2019	Jul. 01, 2018	Mar. 31, 2019	Jun. 30, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of held-for-sale assets	$ 9,429,000	$ 44,921,000
Total assets held for sale	195,938,000		$ 207,607,000	$ 195,938,000
Total liabilities held for sale	38,733,000		46,030,000	38,733,000
Impairment of held-for-sale goodwill and assets	9,429,000	44,921,000
Firearm Business | Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture	170,000,000			170,000,000
Impairment of held-for-sale assets	9,429,000		120,238,000	129,666,000
Earnings before taxes for disposal group held for sale	1,230,000	2,962,000
Net receivables	37,047,000			37,047,000
Net inventories	45,446,000			45,446,000
Other current assets	1,476,000			1,476,000
Net property, plant, and equipment	37,976,000			37,976,000
Goodwill	121,666,000			121,666,000
Net intangible assets	79,809,000			79,809,000
Deferred charges and other non-current assets	2,184,000			2,184,000
Total assets held for sale	325,604,000			325,604,000
Accounts payable	10,698,000			10,698,000
Accrued compensation	1,640,000			1,640,000
Accrued income taxes	282,000			282,000
Federal excise tax	2,039,000			2,039,000
Other current liabilities	1,574,000			1,574,000
Disposal Group, Including Discontinued Operation, Other Liabilities, Noncurrent	522,000			522,000
Deferred tax liabilities	21,978,000			21,978,000
Total liabilities held for sale	38,733,000			38,733,000
Total net assets held for sale	286,871,000			286,871,000
Currency translation adjustment attributable to firearms business	3,045,000			3,045,000
Total net assets including currency translation adjustment	289,916,000			289,916,000
Estimated fair value less costs to sell	160,250,000			160,250,000
Impairment of held-for-sale goodwill and assets	9,429,000		$ 120,238,000	129,666,000
Adjusted assets held for sale	$ 195,938,000			$ 195,938,000
Eyewear | Disposal Group, Held-for-sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of held-for-sale assets		44,921
Impairment of held-for-sale goodwill and assets		$ 44,921

Receivables (Details)

Receivables (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2019	Mar. 31, 2018	Mar. 31, 2019
Receivables [Abstract]
Trade receivables	$ 370,914		$ 356,035
Other receivables	11,722		7,106
Less: allowance for doubtful accounts and discounts	(19,272)		(18,892)
Net receivables	$ 363,364		$ 344,249
Walmart [Member] | Accounts Receivable | Credit Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage	16.00%	14.00%

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 95,463	$ 65,240
Work in process	32,285	32,213
Finished goods	259,928	247,038
Net inventories	387,676	344,491
Long-term inventories	$ 17,615	$ 16,227

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (AOCL) (Components of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019	Jul. 01, 2018	Mar. 31, 2018
Equity [Abstract]
Pension and other postretirement benefits	$ 73,937	$ 74,670
Derivatives	(415)	735	$ 2,104	$ 1,904
Cumulative translation adjustment	(8,268)	(9,032)
Total AOCL	$ (82,620)	$ (82,967)	$ (110,759)	$ (104,296)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss (AOCL) (Changes in the Balance of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jul. 01, 2018	Mar. 31, 2019	Mar. 31, 2018
Accumulated Other Comprehensive Income Loss [Line Items]
Derivatives	$ (415)	$ 2,104	$ 735	$ 1,904
Pension and other postretirement benefits	(73,937)		(74,670)
Cumulative translation adjustment	(8,268)		(9,032)
Total AOCL	(82,620)	(110,759)	(82,967)	(104,296)
Reclassification of net actuarial loss for pension and postretirement benefit plans recorded to net income, net of tax expense of $0 and $(171), respectively.	811	543
Net actuarial losses reclassified from AOCL	811	543
Prior service costs reclassified from AOCL	(78)	(60)
Net increase in fair value of derivatives	(1,150)	200
Net increase in fair value of derivatives	(1,150)	200
Net change in cumulative translation adjustment	764	(7,146)
Pension and Other Postretirement Benefits Adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Pension and other postretirement benefits	(73,937)	66,173	(74,670)	(66,656)
Cumulative Translation Adjustment
Accumulated Other Comprehensive Income Loss [Line Items]
Cumulative translation adjustment	$ (8,268)	$ (46,690)	$ (9,032)	$ (39,544)

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jul. 01, 2018	Mar. 31, 2019
Indefinite-lived Intangible Assets [Line Items]
Goodwill	$ 204,496		$ 204,496
Amortization expense	5,097	$ 6,842
Outdoor Products
Indefinite-lived Intangible Assets [Line Items]
Goodwill	121,329
Shooting Sports
Indefinite-lived Intangible Assets [Line Items]
Goodwill	$ 83,167

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets (Goodwill Rollforward) (Details) - USD ($)	3 Months Ended
	Jun. 30, 2019	Mar. 31, 2019
Goodwill [Line Items]
Goodwill, Period Increase (Decrease)	$ 0
Goodwill	204,496,000	$ 204,496,000
Outdoor Products
Goodwill [Line Items]
Goodwill	121,329,000
Shooting Sports
Goodwill [Line Items]
Goodwill	$ 83,167,000

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets (Schedule of Net Intangible Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019
Amortizing assets
Gross carrying amount	$ 303,786	$ 303,639
Accumulated amortization	(93,451)	(88,483)
Total	210,335	215,156
Intangible assets, gross	449,150	449,003
Net intangible assets	355,699	360,520
Trade names
Amortizing assets
Indefinite-Lived Trade Names	145,364	145,364
Trade names
Amortizing assets
Gross carrying amount	48,360	48,360
Accumulated amortization	(11,628)	(10,694)
Total	36,732	37,666
Patented technology
Amortizing assets
Gross carrying amount	16,684	16,684
Accumulated amortization	(9,828)	(9,604)
Total	6,856	7,080
Customer relationships and other
Amortizing assets
Gross carrying amount	238,742	238,595
Accumulated amortization	(71,995)	(68,185)
Total	$ 166,747	$ 170,410

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets (Future Amortization Expense) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of fiscal 2020	$ 14,931
Fiscal 2021	19,886
Fiscal 2022	19,831
Fiscal 2023	19,715
Fiscal 2024	19,663
Thereafter	116,309
Total	$ 210,335	$ 215,156

Other Current and Non-current_3

Other Current and Non-current Liabilities (Components of Current and Non-current Liabilities) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019
Other Liabilities Disclosure [Abstract]
Accrual for in-transit inventory	$ 23,568	$ 11,275
Rebate accrual	10,387	13,911
Other	71,106	71,989
Total other current liabilities	105,061	97,175
Non-current portion of accrued income tax liability	34,730	34,118
Other	14,681	29,158
Total other non-current liabilities	$ 49,411	$ 63,276

Other Current and Non-current_4

Other Current and Non-current Liabilities (Product Warranty Rollforward) (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2019USD ($)
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Balance, March 31, 2019	$ 8,144
Payments made	(364)
Warranties issued	479
Other adjustments	74
Changes related to pre-existing warranties	(33)
Balance, June 30, 2019	$ 8,300

Long-term Debt (Components of L

Long-term Debt (Components of Long-term Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019	Aug. 11, 2015
Long-Term Debt
Principal amount of long-term debt	$ 769,676	$ 714,509
Less: unamortized deferred financing costs	(10,029)	(10,504)
Carrying amount of long-term debt	759,647	704,005
Less: current portion	(19,335)	(19,335)
Carrying amount of long-term debt, excluding current portion	740,312	684,670
Credit Agreement
Long-Term Debt
Principal amount of long-term debt	419,676	364,509
Line of Credit Due 2023
Long-Term Debt
Principal amount of long-term debt	280,000	220,000
Term Loan Due 2023
Long-Term Debt
Principal amount of long-term debt	99,676	104,509
Junior Term Loan
Long-Term Debt
Principal amount of long-term debt	40,000	40,000
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) $ in Thousands	Nov. 19, 2018USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2020	Mar. 31, 2019USD ($)	Aug. 11, 2015USD ($)
Long-Term Debt
Restricted payment limit		$ 45,000
Debt Instrument, Consolidated Fixed Charge Coverage Ratio		1.37
Principal amount of long-term debt		$ 769,676		$ 714,509
Letters of credit outstanding, amount		24,974
Line of credit facility, remaining borrowing capacity		77,223
Long-term debt		759,647		704,005
Credit Agreement
Long-Term Debt
Unamortized debt issuance costs		12,100
Term Loan Due 2023
Long-Term Debt
Debt Instrument, Face Amount	$ 109,343
Principal amount of long-term debt		99,676		104,509
Debt instrument, periodic payment, principal		$ 4,834
Weighted average interest rate (as a percent)		5.84%
Junior Term Loan
Long-Term Debt
Debt Instrument, Face Amount	40,000
Principal amount of long-term debt		$ 40,000		40,000
Line of Credit Due 2023
Long-Term Debt
Principal amount of long-term debt		$ 280,000		220,000
Annual commitment fee on the unused portion (as a percent)		0.25%
5.875% notes
Long-Term Debt
Principal amount of long-term debt		$ 350,000		350,000
Long-term debt, percentage bearing fixed interest, percentage rate					5.875%
Deferred finance costs gross, accordion feature		4,300
Long-term debt					$ 350,000
Credit Agreement
Long-Term Debt
Principal amount of long-term debt		419,676		$ 364,509
Revolving Credit Facility | New Credit Facilities
Long-Term Debt
Debt Instrument, Face Amount	450,000
First-in, Last-out, Revolving Credit Facility | ABL Revolving Credit Facility
Long-Term Debt
Debt Instrument, Face Amount	$ 20,000
Debt instrument, periodic payment, principal		1,667
Long-term Line of Credit		$ 18,333
Basis spread on variable rate margin (as a percent)	1.00%
Non-First-in, Last-out, Revolving Credit Facility | ABL Revolving Credit Facility
Long-Term Debt
Debt Instrument, Face Amount	$ 430,000
Minimum
Long-Term Debt
Debt Instrument, Consolidated Fixed Charge Coverage Ratio		1.15
Minimum | Term Loan Due 2023 | Base Rate
Long-Term Debt
Basis spread on variable rate margin (as a percent)		2.75%
Minimum | Term Loan Due 2023 | LIBOR
Long-Term Debt
Basis spread on variable rate margin (as a percent)		3.75%
Minimum | Junior Term Loan | Base Rate
Long-Term Debt
Basis spread on variable rate margin (as a percent)		8.00%
Minimum | Junior Term Loan | LIBOR
Long-Term Debt
Basis spread on variable rate margin (as a percent)		9.00%
Minimum | First-in, Last-out, Revolving Credit Facility | Base Rate | ABL Revolving Credit Facility
Long-Term Debt
Basis spread on variable rate margin (as a percent)		2.25%
Minimum | First-in, Last-out, Revolving Credit Facility | LIBOR | ABL Revolving Credit Facility
Long-Term Debt
Basis spread on variable rate margin (as a percent)		3.25%
Minimum | Non-First-in, Last-out, Revolving Credit Facility | Base Rate | ABL Revolving Credit Facility
Long-Term Debt
Basis spread on variable rate margin (as a percent)	0.75%	1.25%
Minimum | Non-First-in, Last-out, Revolving Credit Facility | LIBOR | ABL Revolving Credit Facility
Long-Term Debt
Basis spread on variable rate margin (as a percent)	1.75%	2.25%
Maximum | Non-First-in, Last-out, Revolving Credit Facility | Base Rate | ABL Revolving Credit Facility
Long-Term Debt
Basis spread on variable rate margin (as a percent)	1.25%
Maximum | Non-First-in, Last-out, Revolving Credit Facility | LIBOR | ABL Revolving Credit Facility
Long-Term Debt
Basis spread on variable rate margin (as a percent)	2.25%
Scenario, Forecast [Member] | Minimum
Long-Term Debt
Debt Instrument, Consolidated Fixed Charge Coverage Ratio			1

Long-term Debt (Narrative - 5.8

Long-term Debt (Narrative - 5.875% Notes) (Details) - USD ($)	3 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Aug. 11, 2015
Debt Instrument [Line Items]
Long-term debt	$ 759,647,000	$ 704,005,000
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 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 - Interest Rate Swap Maturing June 2020	Jun. 30, 2019USD ($)
Derivative [Line Items]
Notional	$ 100,000,000
Fair Value	$ 219,000
Pay Fixed	1.629%
Receive Floating	2.402%

Long-term Debt (Narrative - Cas

Long-term Debt (Narrative - Cash Paid for Interest on Debt) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Debt Disclosure [Abstract]
Interest paid, including capitalized interest	$ 15,654	$ 7,073

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($)	3 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Defined Benefit Plans
Defined benefit plan, net periodic benefit cost (credit)	$ (101,000)	$ (186,000)
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year	3,600,000
Pension Plan
Defined Benefit Plans
Contribution by employer	0
Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plans
Contribution by employer	0
Supplemental Employee Retirement Plan
Defined Benefit Plans
Distributions by employer	$ 0

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Income Tax Disclosure [Abstract]
Income tax provision (as a percent)	(4.60%)	1.40%
Settlement from former parent	$ 0	$ (13,047)
Income Taxes Paid, Net	(253)	$ 3,087
Potential reduction of uncertain tax benefits over the next 12 months from audit settlements	9,253
Minimum
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Unrecognized tax benefits that would impact effective tax rate	0
Maximum
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Unrecognized tax benefits that would impact effective tax rate	$ 8,067

Contingencies (Details)

Contingencies (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019
Loss Contingency [Abstract]
Accrual for environmental loss contingencies	$ 729	$ 729

Condensed Consolidating Finan_2

Condensed Consolidating Financial Statements (Details)	Jun. 30, 2019
5.875% notes
Debt Instrument [Line Items]
Debt instrument, interest rate	5.875%

Operating Segment Information_2

Operating Segment Information (Narrative) (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2019USD ($)segment	Jul. 01, 2018USD ($)
Revenue, Major Customer [Line Items]
Number of operating segments | segment	2
Major customer		Walmart
Segment Reporting Information, Intersegment Revenue | $	$ 922	$ 1,622
Sales Revenue, Net | Customer Concentration Risk
Revenue, Major Customer [Line Items]
Concentration risk, percentage		14.00%
Outdoor Products
Revenue, Major Customer [Line Items]
Revenues from external customers, percentage	48.00%
Shooting Sports
Revenue, Major Customer [Line Items]
Revenues from external customers, percentage	52.00%

Operating Segment Information_3

Operating Segment Information (Schedule of Results by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jul. 01, 2018
Segment Reporting Information [Line Items]
Sales, net	$ 459,774	$ 528,836
Gross profit	(95,078)	(113,338)
Outdoor Products
Segment Reporting Information [Line Items]
Sales, net	221,947	270,780
Outdoor Products | Operating Segments
Segment Reporting Information [Line Items]
Sales, net	221,947	270,780
Gross profit	(55,666)	(70,950)
Shooting Sports
Segment Reporting Information [Line Items]
Sales, net	237,827	258,056
Shooting Sports | Operating Segments
Segment Reporting Information [Line Items]
Sales, net	237,827	258,056
Gross profit	$ (39,412)	$ (42,388)

Subsequent Events Sale of Dispo

Subsequent Events Sale of Disposal Group (Details) - Subsequent Event [Member] - Firearm Business [Member] - Discontinued Operations, Held-for-sale or Disposed of by Sale [Member] $ in Thousands	Jul. 05, 2019USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture of business	$ 170,000
Cash received from divestiture of business	158,000
Note receivable from divestiture of business	$ 12,000