Vista Outdoor (GEAR) 10-Q 29 Jul 21 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Jun. 27, 2021	Jul. 26, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 27, 2021
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		57,375,901
Entity Central Index Key	0001616318
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Jun. 27, 2021	Mar. 31, 2021
Current assets:
Cash and cash equivalents	$ 208,670	$ 243,265
Net receivables	357,334	301,575
Net inventories	505,077	454,504
Income tax receivable	4,324	37,870
Other current assets	44,614	27,018
Total current assets	1,120,019	1,064,232
Net property, plant, and equipment	192,465	197,531
Operating lease assets	74,541	72,400
Goodwill	97,773	86,082
Net intangible assets	329,649	314,955
Deferred charges and other non-current assets, net	37,356	29,739
Total assets	1,851,803	1,764,939
Current liabilities:
Accounts payable	169,459	163,839
Accrued compensation	40,724	63,318
Federal excise, use, and other taxes	26,651	23,092
Other current liabilities	127,549	120,568
Total current liabilities	364,383	370,817
Long-term debt	495,701	495,564
Deferred income tax liabilities	12,869	8,235
Long-term operating lease liabilities	79,123	77,375
Accrued pension and postemployment benefits	31,177	33,503
Other long-term liabilities	67,871	42,448
Total liabilities	1,051,124	1,027,942
Commitments and contingencies (Notes 3, 13, and 16)
Issued and outstanding — 57,538,158 shares as of June 27, 2021 and 58,561,016 shares as of March 31, 2021	575	585
Additional paid-in capital	1,727,204	1,731,479
Accumulated deficit	(591,311)	(694,036)
Accumulated other comprehensive loss	(82,200)	(83,195)
Common stock in treasury, at cost — 6,426,281 shares held as of June 27, 2021 and 5,403,423 shares held as of March 31, 2021	(253,589)	(217,836)
Total stockholders' equity	800,679	736,997
Total liabilities and stockholders' equity	$ 1,851,803	$ 1,764,939

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - $ / shares	Jun. 27, 2021	Mar. 31, 2021
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)	57,538,158	58,561,016
Common stock, outstanding (in shares)	57,538,158	58,561,016
Common stock in treasury (in shares)	6,426,281	5,403,423

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 27, 2021	Jun. 28, 2020
Income Statement [Abstract]
Sales, net	$ 662,912	$ 479,140
Cost of sales	421,485	353,772
Gross profit	241,427	125,368
Operating expenses:
Research and development	5,868	5,010
Selling, general, and administrative	91,903	72,315
Earnings before interest and income taxes	143,656	48,043
Interest expense, net	(5,678)	(6,418)
Earnings before income taxes	137,978	41,625
Income tax provision	(35,253)	(1,149)
Net income	$ 102,725	$ 40,476
Earnings per common share:
Basic (in dollars per share)	$ 1.77	$ 0.70
Diluted (in dollars per share)	$ 1.71	$ 0.69
Weighted-average number of common shares outstanding:
Basic (in shares)	58,123	58,057
Diluted (in shares)	59,947	58,957
Pension and other postretirement benefit liabilities:
Reclassification of prior service credits for pension and postretirement benefit plans recorded to net income, net of tax of benefit of $23 and $0, respectively	$ (72)	$ (78)
Reclassification of net actuarial loss for pension and postretirement benefit plans recorded to net income, net of tax expense of $(259) and $0, respectively	798	968
Change in derivatives, net of tax expense of $(20) and $0, respectively	63	981
Change in cumulative translation adjustment	206	349
Total other comprehensive income	995	2,220
Comprehensive income	$ 103,720	$ 42,696

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2021	Jun. 28, 2020
Income Statement [Abstract]
Reclassification of prior service credits for pension and postretirement benefit plans recorded to net income, net of tax of benefit of $23 and $0, respectively	$ 23	$ 0
Reclassification of net actuarial loss for pension and postretirement benefit plans recorded to net income, net of tax expense of $(259) and $0, respectively	(259)	0
Change in derivatives, net of tax expense of $(20) and $0, respectively	$ (20)	$ 0

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2021	Jun. 28, 2020
Operating Activities
Net income	$ 102,725	$ 40,476
Adjustments to net income to arrive at cash provided by operating activities:
Depreciation	11,247	11,533
Amortization of intangible assets	4,998	4,953
Amortization of deferred financing costs	347	377
Deferred income taxes	312	(94)
(Gain)/loss on disposal of property, plant, and equipment	(3)	195
Share-based compensation	7,038	4,404
Changes in assets and liabilities:
Net receivables	(54,919)	(10,986)
Net inventories	(47,925)	(761)
Accounts payable	6,188	26,526
Accrued compensation	(22,813)	(11,820)
Accrued income taxes	36,236	982
Federal excise, use, and other taxes	3,522	1,180
Pension and other postretirement benefits	(1,363)	(6,894)
Other assets and liabilities	(16,818)	17,292
Cash provided by operating activities	28,772	77,363
Investing Activities:
Capital expenditures	(6,876)	(4,472)
Acquisition of businesses, net of cash received	(8,488)	0
Proceeds from the disposition of property, plant, and equipment	6	20
Cash used for investing activities	(15,358)	(4,452)
Financing Activities:
Borrowings on lines of credit	0	9,076
Payments on lines of credit	0	(77,332)
Payments made for debt issuance costs	(955)	0
Purchase of treasury shares	(44,232)	0
Proceeds from exercise of stock options	197	0
Payment of employee taxes related to vested stock awards	(3,018)	(100)
Cash used for financing activities	(48,008)	(68,356)
Effect of foreign exchange rate fluctuations on cash	(1)	129
(Decrease)/increase in cash and cash equivalents	(34,595)	4,684
Cash and cash equivalents at beginning of period	243,265	31,375
Cash and cash equivalents at end of period	208,670	36,059
Non-cash investing activity:
Capital expenditures included in accounts payable	1,256	1,034
Contingent consideration in connection with business acquisitions	22,400	0
Net assets assumed in business acquisitions	$ 30,888	$ 0

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, 2020		58,038,822
Balance at Mar. 31, 2020	$ 442,505	$ 580	$ 1,744,096	$ (960,048)	$ (100,994)	$ (241,129)
Increase (Decrease) in Stockholders' Equity
Comprehensive income (loss)	42,696			40,476
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period		5,000
Stock Issued During Period, Value, Stock Options Exercised	0		(203)			203
Share-based compensation	4,404		4,404
Restricted stock vested and shares withheld (in shares)		21,824
Restricted stock vested and shares withheld	(100)		(1,324)			1,224
Other (in shares)		1,313
Stock Issued During Period, Value, Other		$ 1
Other	0		(54)			53
Balance (in shares) at Jun. 28, 2020		58,066,959
Balance at Jun. 28, 2020	489,505	$ 581	1,746,919	(919,572)	(98,774)	(239,649)
Balance (in shares) at Mar. 31, 2021		58,561,016
Balance at Mar. 31, 2021	736,997	$ 585	1,731,479	(694,036)	(83,195)	(217,836)
Increase (Decrease) in Stockholders' Equity
Comprehensive income (loss)	103,720			102,725	995
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period		7,373
Stock Issued During Period, Value, Stock Options Exercised	197		(94)			291
Share-based compensation	7,038		7,038
Restricted stock vested and shares withheld (in shares)		174,885
Restricted stock vested and shares withheld	(3,041)		(10,937)			7,896
Treasury Stock, Value, Acquired, Cost Method	(44,232)					(44,232)
Stock Repurchased During Period, Shares		(1,212,496)
Other (in shares)		7,380
Stock Issued During Period, Value, Other		$ (10)
Other	0		(282)			292
Balance (in shares) at Jun. 27, 2021		57,538,158
Balance at Jun. 27, 2021	$ 800,679	$ 575	$ 1,727,204	$ (591,311)	$ (82,200)	$ (253,589)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (unaudited) (Parenthetical) - $ / shares	Jun. 27, 2021	Mar. 31, 2021	Jun. 28, 2020
Statement of Stockholders' Equity [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Jun. 27, 2021
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", unless the context otherwise requires) is a leading global designer, manufacturer and marketer of outdoor and shooting sports products. We conduct our operations through two reportable segments, Shooting Sports and Outdoor Products. We are headquartered in Anoka, Minnesota and have 17 manufacturing and distribution facilities in the United 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 condensed consolidated financial statements reflect our financial position, results of operations, and cash flows in conformity with accounting principles generally accepted in the United States. 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, 2021 (“fiscal year 2021”). 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 have been 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 year 2021. 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 27, 2021 and March 31, 2021, our results of operations for the three months ended June 27, 2021 and June 28, 2020, and our cash flows for the three months ended June 27, 2021 and June 28, 2020. Our accounting policies are described in Note 1 of the Notes to the Consolidated Financial Statements in our Annual Report on Form 10-K for fiscal year 2021. Such significant accounting policies are applicable for periods prior to the following new accounting standards. Accounting Standards Adopted by us in Fiscal Year 2022 In August 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2020-06, " Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. " This ASU simplifies the accounting for convertible instruments by removing the separation models for (1) convertible debt with a cash conversion feature and (2) convertible instruments with a beneficial conversion feature. Also, this ASU requires the application of the if-converted method for calculating diluted earnings per share and the treasury stock method will be no longer available. The new guidance is effective for fiscal years beginning after December 15, 2021, with early adoption permitted no earlier than fiscal years beginning after December 15, 2020. Entities may adopt the guidance through either a modified retrospective method of transition or a fully retrospective method of transition. We early adopted ASU 2020-06 on April 1, 2021 with no impact on our financial statements. On April 1, 2021, we adopted ASU No. 2019-12, “ Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. ” This ASU removes specific exceptions to the general principles of ASC Topic 740, "Accounting for Income Taxes" and simplifies certain U.S. GAAP requirements. This update is effective for fiscal years beginning after December 15, 2020. The adoption of this standard does not have a material impact on our consolidated financial statements and related disclosures.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Jun. 27, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments We measure and disclose our financial assets and liabilities at fair value on a recurring and nonrecurring basis. Fair value is defined as the price that would be received to sell an asset or the price paid to transfer a liability (the exit price) in the principal and most advantageous market for the asset or liability in an orderly transaction between market participants. Assets and liabilities carried at fair value are classified using the three-tier 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 use to measure our financial instruments at fair value on a recurring basis: 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 5, Derivative Financial Instruments , for additional information. Note Receivable In connection with the sale of our Firearms business in July 2019, we received a $12,000 interest-free, five-year pre-payable promissory note due June 2024. Based on the general market conditions and the credit quality of the buyer at the time of the sale, we discounted the Note Receivable at an effective interest rate of 10% and estimated fair value using a discounted cash flow approach. We consider this to be a Level 3 instrument. See Note 8, Receivables, for additional information. Contingent Consideration The acquisition-related contingent consideration liability represents the estimated fair value of earn-outs payable related to our acquisition of QuietKat Inc. ("QuietKat") see Note 4, Acquisitions and Divestitures , for additional information. The earn-out liability is valued using a Monte Carlo simulation analysis in a risk-neutral framework with assumptions for volatility, market price of risk adjustment, risk-free rate, and cost of debt. The contingent consideration will be measured to fair value at each reporting date through December 31, 2023, and is based on management estimates and entity-specific assumptions, which are considered Level 3 inputs. The liability is included in other long-term liabilities on our balance sheet. Disclosures about the Fair Value of Financial Instruments The carrying amount of our receivables, inventory, accounts payable and accrued liabilities at June 27, 2021 and March 31, 2021 , approximates fair value because of the short maturity of these instruments. The carrying values of cash and cash equivalents at June 27, 2021 and March 31, 2021 are categorized within Level 1 of the fair value hierarchy. The table below discloses information about carrying values and estimated fair value relating to our financial assets and liabilities: June 27, 2021 March 31, 2021 Carrying Fair Carrying Fair Fixed-rate debt (1) $ 500,000 $ 510,000 $ 500,000 $ 493,750 (1) Fixed rate debt —In fiscal year 2021, we issued $500,000 aggregate principal amount o f 4.5% S enior Notes that will mature on March 15, 2029. These notes are unsecured and senior obligations. We consider these to be Level 2 instruments. See Note 13, Long-term Debt, for information on long-term debt, including certain risks and uncertainties.

Leases

Leases	3 Months Ended
	Jun. 27, 2021
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. 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 twelve 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 our leases are recognized upon occurrence of the event, activity, or circumstance in the lease agreement on which those payments are assessed. Tenant improvement allowances are recorded as leasehold improvements with an offsetting adjustment included in our 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 up to five years. 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 were as follows: Balance Sheet Caption June 27, 2021 March 31, 2021 Assets: Operating lease assets Operating lease assets $ 74,541 $ 72,400 Liabilities: Current: Operating lease liabilities Other current liabilities $ 10,616 $ 10,044 Long-term: Operating lease liabilities Long-term operating lease liabilities 79,123 77,375 Total lease liabilities $ 89,739 $ 87,419 The components of lease expense are recorded to cost of sales and selling, general, and administration expenses in the condensed consolidated statements of comprehensive income (loss). The components of lease expense were as follows: Three months ended June 27, 2021 June 28, 2020 Fixed operating lease costs (1) $ 5,116 $ 5,059 Variable operating lease costs 669 582 Sublease income (44) (388) Net Lease costs $ 5,741 $ 5,253 (1) Includes short-term leases June 27, 2021 March 31, 2021 Weighted Average Remaining Lease Term (Years): Operating leases 9.02 9.32 Weighted Average Discount Rate: Operating leases 8.45 % 8.64 % The approximate minimum lease payments under non-cancelable operating leases as of June 27, 2021 are as follows: Remainder of fiscal year 2022 $ 13,301 Fiscal year 2023 16,392 Fiscal year 2024 14,662 Fiscal year 2025 13,876 Fiscal year 2026 12,669 Thereafter 60,983 Total lease payments 131,883 Less imputed interest (42,144) Present value of lease liabilities $ 89,739 Supplemental cash flow information related to leases is as follows: Three months ended June 27, 2021 June 28, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows - operating leases $ 4,278 $ 4,652 Operating lease assets obtained in exchange for lease liabilities: Operating leases 3,303 815

Acquisitions and Divestitures

Acquisitions and Divestitures	3 Months Ended
	Jun. 27, 2021
Business Combinations [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures During the third quarter of fiscal year 2021, we acquired certain assets related to Remington Outdoor Company, Inc.’s ("Remington") ammunition and accessories businesses, including Remington's ammunition manufacturing facility in Lonoke, Arkansas and related intellectual property. We accounted for the acquisition of Remington as a business combination using the acquisition method of accounting. The purchase price allocation below was allocated to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date. The fair values of acquired assets and liabilities assumed represent management’s estimate of fair value. We finalized the purchase price allocation during the fourth quarter of fiscal year 2021. Remington Purchase Price Allocation: October 12, 2020 Total purchase price: Cash paid $ 81,400 Cash paid for working capital 291 Total purchase price 81,691 Fair value of assets acquired: Inventories $ 20,021 Intangible assets 26,200 Property, plant, and equipment 31,200 Other assets 3,363 Total assets 80,784 Fair value of liabilities assumed: Accounts payable 311 Other liabilities 2,969 Total liabilities 3,280 Net assets acquired 77,504 Goodwill $ 4,187 Intangible assets above include: Value Useful life (years) Indefinite lived tradenames $ 24,500 Indefinite Customer relationships 1,700 20 On January 31, 2021, we completed the acquisition of HEVI-Shot Ammunition, which will immediately add a high-end offering, specialized lead-free ammunition capabilities and another iconic brand to our ammunition portfolio. We accounted for the acquisition as a business combination using the acquisition method of accounting. The acquisition is not significant to our consolidated financial statements. We finalized the purchase price allocation during the first quarter of fiscal year 2022. The results of this business are included in the Shooting Sports reportable segment. During the first quarter of fiscal year 2022, we completed the acquisition of QuietKat; an electric bicycle company that specializes in designing, manufacturing and marketing rugged, all-terrain eBikes. We accounted for the acquisition as a business combination using the acquisition method of accounting. The acquisition is not significant to our consolidated financial statements. The results of this business are reported within our Outdoor Products reportable segment. Contingent consideration with an initial fair value of $22,400 was included in the purchase price. See Note 2, Fair Value of Financial Instruments, for information related to the fair value calculation. In addition to the consideration we paid at closing, $13,000 was paid to key members of QuietKat management and is considered compensation that will be expensed over approximately three years if they continue their employment with us through the respective milestone dates. During the first quarter of fiscal year 2022, we also completed the acquisition of Venor, a hunt-inspired female apparel brand. The Venor lifestyle is anchored in adventure, community and empowering women to live their best outdoor lives. We accounted for the acquisition as a business combination using the acquisition method of accounting. The acquisition is not significant to our consolidated financial statements. The results of this business will be reported within the Outdoor Products reportable segment. Divestiture of Business:

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Jun. 27, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments In the normal course of business, we are exposed to market risks arising from adverse changes in: • commodity prices affecting the cost of raw materials, and • interest rates We use designated cash flow hedges to manage our level of exposure. We entered into various commodity forward contracts during fiscal years 2021 and 2020. 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 hedge contracts is assessed quantitatively at inception and qualitatively thereafter considering the transactions critical terms and counterparty credit quality. The gains and losses on these hedges are included in accumulated other comprehensive income (loss) and are reclassified into earnings at the time the forecasted revenue or expense is recognized. 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 27, 2021, we had outstanding lead forward contracts on approximately 4 million pounds of lead. In the event the underlying forecasted transaction does not occur, or it becomes probable that it will not occur, the related change in fair value of the derivative instrument would be reclassified from accumulated other comprehensive income (loss) and recognized in earnings. As of June 27, 2021, there is an immaterial asset balance related to the lead forward contracts that is recorded within other current assets.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Jun. 27, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The following tables disaggregate our net sales by major category: Three months ended June 27, 2021 June 28, 2020 Shooting Sports Outdoor Products Total Shooting Sports Outdoor Products Total Ammunition $ 364,287 $ — $ 364,287 $ 261,762 $ — $ 261,762 Hunting and Shooting 99,031 — 99,031 72,396 — 72,396 Action Sports (1) — 92,143 92,143 — 72,859 72,859 Outdoor Recreation (2) — 107,451 107,451 — 72,123 72,123 Total $ 463,318 $ 199,594 $ 662,912 $ 334,158 $ 144,982 $ 479,140 Geographic Region: United States $ 409,885 $ 148,069 $ 557,954 $ 307,388 $ 115,017 $ 422,405 Rest of the World 53,433 51,525 104,958 26,770 29,965 56,735 Total $ 463,318 $ 199,594 $ 662,912 $ 334,158 $ 144,982 $ 479,140 (1) Action Sports includes the operating segments: Sports Protection and Cycling. (2) Outdoor Recreation includes the operating segments: Hydration, Outdoor Cooking, and Golf. Product Sales: 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. 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. 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. 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 pay commissions to some of our employees based on agreed-upon sales targets. We recognize the incremental costs of obtaining a contract as an expense when incurred because our sales contracts with commissions are a year or less.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Jun. 27, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The computation of basic earnings per share ("EPS") is based on the weighted average number of shares that were outstanding during the period. The computation of diluted EPS is based on the number of basic weighted average shares outstanding plus the number of common shares that would be issued assuming the exercise of all potentially dilutive common shares, such as common stock to be issued upon exercise of options, contingently issuable shares and restricted stock units, using the treasury stock method. In computing EPS for the periods presented, earnings, as reported for each respective period, is divided by the number of shares below (in thousands): Three months ended (Amounts in thousands except per share data) June 27, 2021 June 28, 2020 Numerator: Net income $ 102,725 $ 40,476 Denominator: Weighted-average number of common shares outstanding basic: 58,123 58,057 Dilutive effect of share-based awards (1) 1,824 900 Diluted shares 59,947 58,957 Earnings per common share: Basic $ 1.77 $ 0.70 Diluted $ 1.71 $ 0.69 (1) Potentially dilutive securities, which were not included in the computation of diluted earnings per share, because either the effect would have been anti-dilutive, or the options’ exercise prices were greater than the average market price of the common stock, were 527 and 528 for the three months ended June 27, 2021 and June 28, 2020, respectively.

Receivables

Receivables	3 Months Ended
	Jun. 27, 2021
Receivables [Abstract]
Receivables	Receivables Our trade account receivables are recorded at net realizable value, which includes an appropriate allowance for estimated credit losses under the expected credit loss model. We maintain an allowance for credit losses related to accounts receivable for future expected credit losses resulting from the inability or unwillingness of our customers to make required payments. We estimate the allowance based upon historical bad debts, current customer receivable balances, age of customer receivable balances and the customers' financial condition and in relation to a representative pool of assets consisting of a large number of customers with similar risk characteristics. The allowance is adjusted as appropriate to reflect differences in current conditions as well as changes in forecasted macroeconomic conditions. Receivables that do not share risk characteristics are evaluated on an individual basis, including those associated with customers that have a higher probability of default. Net receivables are summarized as follows: June 27, 2021 March 31, 2021 Trade receivables $ 364,235 $ 307,098 Other receivables 7,972 7,899 Less: allowance for estimated credit losses and discounts (14,873) (13,422) Net receivables $ 357,334 $ 301,575 Walmart represented 22% and 18% of our total trade receivables balance as of June 27, 2021 and March 31, 2021, respectively. No other customer represented more than 10% of our total trade receivables balance as of June 27, 2021 or March 31, 2021. The following provides a reconciliation of the activity related to the allowance for estimated credit losses and discounts for the three months ended June 27, 2021: Balance, March 31, 2021 $ 13,422 Provision for credit losses 492 Write-off of uncollectible amounts, net of recoveries (330) Discounts and other adjustments 1,289 Balance, June 27, 2021 $ 14,873 Note Receivable is summarized as follows: June 27, 2021 March 31, 2021 Principal $ 12,000 $ 12,000 Less: unamortized discount (2,984) (3,189) Note receivable, net, included within Deferred charges and other non-current assets $ 9,016 $ 8,811

Inventories

Inventories	3 Months Ended
	Jun. 27, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories Current net inventories consist of the following: June 27, 2021 March 31, 2021 Raw materials $ 148,575 $ 133,970 Work in process 54,504 47,829 Finished goods 301,998 272,705 Net inventories $ 505,077 $ 454,504

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss (AOCL)	3 Months Ended
	Jun. 27, 2021
Equity [Abstract]
Accumulated Other Comprehensive Loss (AOCL)	Accumulated Other Comprehensive Loss (AOCL) The components of AOCL, net of income taxes, are as follows: June 27, 2021 March 31, 2021 Derivatives $ 224 $ 161 Pension and other postretirement benefits liabilities (77,440) (78,166) Cumulative translation adjustment (4,984) (5,190) Total AOCL $ (82,200) $ (83,195) The following tables detail the amounts reclassified from AOCL to earnings as well as the changes in derivatives, pension and other postretirement benefits and foreign currency translation, net of income tax: Three months ended June 27, 2021 Derivatives Pension and other postretirement benefits liabilities Cumulative translation adjustment Total Beginning balance in AOCL $ 161 $ (78,166) $ (5,190) $ (83,195) Change in fair value of derivatives 650 — — 650 Net gains reclassified from AOCL (587) — — (587) Net actuarial losses reclassified from AOCL (1) — 798 — 798 Prior service costs reclassified from AOCL (1) — (72) — (72) Net change in cumulative translation adjustment — — 206 206 Ending balance in AOCL $ 224 $ (77,440) $ (4,984) $ (82,200) (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. Three months ended June 28, 2020 Derivatives Pension and other postretirement benefits liabilities Cumulative translation adjustment Total Beginning balance in AOCL $ (1,426) $ (93,353) $ (6,215) $ (100,994) Change in fair value of derivatives (5) — — (5) Net losses reclassified from AOCL 986 — — 986 Net actuarial losses reclassified from AOCL (1) — 968 — 968 Prior service costs reclassified from AOCL (1) — (78) — (78) Net change in cumulative translation adjustment — — 349 349 Ending balance in AOCL $ (445) $ (92,463) $ (5,866) $ (98,774) (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. 27, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Changes in the carrying value of goodwill by segment was as follows: Shooting Sports Outdoor Products Total Balance, March 31, 2021 $ 86,082 $ — $ 86,082 Acquisitions 23 11,668 11,691 Balance, June 27, 2021 $ 86,105 $ 11,668 $ 97,773 Intangible assets by major asset class consisted of the following: June 27, 2021 March 31, 2021 Gross Accumulated Total Gross Accumulated Total Trade names $ 63,160 $ (19,184) $ 43,976 $ 49,560 $ (18,174) $ 31,386 Patented technology 16,954 (11,562) 5,392 16,954 (11,354) 5,600 Customer relationships and other 247,483 (102,804) 144,679 241,306 (98,939) 142,367 Total 327,597 (133,550) 194,047 307,820 (128,467) 179,353 Non-amortizing trade names 135,602 — 135,602 135,602 — 135,602 Net intangible assets $ 463,199 $ (133,550) $ 329,649 $ 443,422 $ (128,467) $ 314,955 Amortization expense for the three months ended June 27, 2021 and June 28, 2020 was $4,998 and $4,953, respectively. As of June 27, 2021, we expect amortization expense related to these assets to be as follows: Remainder of fiscal year 2022 $ 16,009 Fiscal year 2023 21,233 Fiscal year 2024 21,181 Fiscal year 2025 21,163 Fiscal year 2026 18,153 Thereafter 96,308 Total $ 194,047

Other Current and Non-current L

Other Current and Non-current Liabilities	3 Months Ended
	Jun. 27, 2021
Other Liabilities Disclosure [Abstract]
Other Current and Non-current Liabilities	Other Current and Long-term Liabilities Other current and non-current liabilities consisted of the following: June 27, 2021 March 31, 2021 Accrual for in-transit inventory $ 27,502 24,356 Other 100,047 96,212 Total other current liabilities $ 127,549 $ 120,568 Long-term portion of accrued income tax liability $ 25,679 $ 23,000 Other 42,192 19,448 Total other long-term liabilities $ 67,871 $ 42,448 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, 2021 $ 8,696 Payments made (98) Warranties issued 335 Changes related to pre-existing warranties and other adjustments (63) Balance, June 27, 2021 $ 8,870

Long-term Debt

Long-term Debt	3 Months Ended
	Jun. 27, 2021
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt Long-term debt consisted of the following: June 27, 2021 March 31, 2021 4.5% Senior Notes $ 500,000 $ 500,000 Less: unamortized deferred financing costs (4,299) (4,436) Carrying amount of long-term debt $ 495,701 $ 495,564 Credit Agreements —In fiscal year 2021, we refinanced our 2018 ABL Revolving Credit Facility, by entering into the 2021 ABL Revolving Credit Facility, which provides for a $450,000 senior secured asset-based revolving credit facility. The amount available under the 2021 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, but, in each case, subject to the excess availability financial covenant under the 2021 ABL Revolving Credit Facility described below. As of June 27, 2021, based on the borrowing base less outstanding borrowings of $0, outstanding letters of credit of $21,800, and minimum required borrowing base of $45,000, the amount available under the 2021 ABL Revolving Credit Facility was $383,200. The 2021 ABL Revolving Credit Facility matures on March 31, 2026 (the “Maturity Date”), subject to a customary springing maturity in respect of the 4.5% Notes due 2029 (described below). Any outstanding revolving loans under the 2021 ABL Revolving Credit Facility will be payable in full on the Maturity Date. As of March 31, 2021, borrowings under the 2021 ABL Revolving Credit Facility bear interest at a rate equal to either the sum of a base rate plus a margin ranging from 0.25% to 0.75% or the sum of a LIBO rate plus a margin ranging from 1.25% to 1.75%. The rates vary based on our Average Excess Availability under the 2021 ABL Revolving Credit Facility. As of June 27, 2021, the margin under the 2021 ABL Revolving Credit Facility was 0.25% for base rate loans and 1.25% for LIBO rate loans. We pay a commitment fee on the unused commitments under the 2021 ABL Revolving Credit Facility of 0.175% per annum. Debt issuance costs incurred with the refinancing of approximately $5,907, are being amortized over the term of the 2021 ABL Revolving Credit Facility. The debt issuance costs associated with the 2021 ABL Revolving Credit Facility are included within other current and non-current assets. Substantially all domestic tangible and intangible assets of Vista Outdoor and our domestic subsidiaries are pledged as collateral under the 2021 ABL Revolving Credit Facility. 4.5% Notes —In fiscal year 2021, we issued $500,000 aggregate principal amount of 4.5% Notes that mature on March 15, 2029. These notes are unsecured and senior obligations. Interest on the notes is payable semi-annually in arrears on March 15 and September 15 of each year. We have the right to redeem some or all of these notes on or after March 15, 2024 at specified redemption prices. Prior to March 15, 2024, we may redeem some or all of these notes at a price equal to 100% of their principal amount plus accrued and unpaid interest to the date of redemption and a specified make-whole premium. In addition, prior to March 15, 2024, we may redeem up to 40% of the aggregate principal amount of these notes with the net cash proceeds of certain equity offerings, at a price equal to 104.5% of their principal amount plus accrued and unpaid interest to the date of redemption. Debt issuance costs of approximately $4,481 are being amortized to interest expense over eight years, the term of the notes. Rank and guarantees —The 2021 ABL Revolving Credit Facility obligations are guaranteed on a secured basis, jointly and severally and fully and unconditionally by substantially all of our domestic subsidiaries. Vista Outdoor (the parent company issuer) has no independent assets or operations. We own 100% of all of these guarantor subsidiaries. The 4.5% 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 4.5% Notes are fully and unconditionally guaranteed, jointly and severally, by our existing and future domestic subsidiaries that guarantee indebtedness under our 2021 ABL Revolving Credit Facility or that incur or guarantee certain of our other indebtedness, or indebtedness of any subsidiary guarantor, in an aggregate principal amount in excess of $75,000. These guarantees are senior unsecured obligations of the applicable subsidiary guarantors. The guarantee by any subsidiary guarantor of our obligations in respect of the 4.5% 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 4.5% Notes • if such subsidiary guarantor has been released from its guarantees of indebtedness under the 2021 ABL Revolving Credit Facility and all capital markets debt securities Covenants 2021 ABL Revolving Credit Facility —Our 2021 ABL Revolving Credit Facility imposes 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. The 2021 ABL Revolving Credit Facility contains a financial covenant that the Excess Availability under the 2021 ABL Revolving Credit Facility cannot fall below the greater of (a) 10% of the line cap and (b) $42,500. As a result of this financial covenant, we must maintain the greater of 10% of the line cap or $42,500 of availability in order to satisfy the financial covenant. If we do not comply with the covenants in the 2021 ABL Revolving Credit Facility, the lenders may, subject to customary cure rights, require the immediate payment of all amounts outstanding under the 2021 ABL Revolving Credit Facility. As noted above, the Excess Availability under the 2021 ABL Revolving Credit Facility was $383,200 as of June 27, 2021. Vista has the option to increase the amount of the 2021 ABL Revolving Credit Facility in an aggregate principal amount not to exceed $150,000, to the extent that any one or more lenders, whether or not currently party to the 2021 ABL Revolving Credit Facility, commits to be a lender for such amount. 4.5% Notes —The indenture governing the 4.5% 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 2021 ABL Revolving Credit Facility and the indenture governing the 4.5% Notes contain cross-default provisions so that noncompliance with the covenants within one debt agreement could also cause a default under another debt agreement. As of June 27, 2021, we were in compliance with the covenants of all of our debt agreements. However, we cannot provide assurance that we will be able to comply with such financial covenants in the future due to various risks and uncertainties some of which may be beyond our control. Any failure to comply with the restrictions in the 2021 ABL Revolving Credit Facility may prevent us from drawing under the 2021 ABL Revolving Credit Facility and may result in an event of default under the 2021 ABL Revolving Credit Facility, which default may allow the creditors to accelerate the related indebtedness and the indebtedness under our 4.5% Notes and proceed against the collateral that secures such indebtedness. We may not have sufficient liquidity to repay the indebtedness in such circumstances.

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Jun. 27, 2021
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans During the three months ended June 27, 2021, we recognized an aggregate net loss of $35 for employee defined benefit plans compared to net benefit of $21 during the three months ended June 28, 2020. Employer contributions and distributions —We made contributions to our pension trust during the three months ended June 27, 2021 of $1,300, and $7,100 of required contributions during the three months ended June 28, 2020. No additional contributions are required, and we are not expecting to make any contributions to our pension trust for the remainder of fiscal year 2022. For those same periods, we made no contributions to our other postretirement benefit plans, and we made no distributions to retirees under our non-qualified supplemental executive retirement plan. No additional contributions are required, and we are not expecting to make any contributions to our other postretirement benefit plans, or directly to retirees under our non-qualified supplemental executive retirement plans for the remainder of fiscal year 2022.

Income Taxes

Income Taxes	3 Months Ended
	Jun. 27, 2021
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 estimated effective annual income tax rates for the current year and the year-to-date effective tax rate for the prior year. The income tax provisions for the three months ended June 27, 2021 and June 28, 2020 represent effective tax rates of 25.5% and 2.8%, respectively. The increase in the rate from the prior year quarter is primarily caused by the impact of the prior year decrease in the valuation allowance driven by earnings which permitted us to realize previously valued tax assets. The effective tax rate for the three months ended June 27, 2021 is reflective of the federal statutory rate of 21% plus the state tax accrual, with an increase in uncertain tax position reserves. The effective tax rate for the three months ended June 28, 2020 was lower than the statutory rate because of the decreased valuation allowance. 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. 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 Outdoor are no longer subject to U.S. federal, state and local, or foreign income tax examinations by tax authorities prior to 2013. The IRS has completed the audits of Orbital ATK through fiscal year 2014 and is currently auditing Orbital ATK's tax return for fiscal year 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 refunded, net of taxes paid, totaled $1,359 and income taxes paid, net of refunds, totaled $265 for the three months ended June 27, 2021 and June 28, 2020, respectively. We have filed amended income tax returns requesting total refunds of $42,193 which are reflected in our net income tax receivable of $4,324. Although the timing and outcome of income tax audit settlements are uncertain, it is reasonably possible that a $7,770 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 $6,916.

Contingencies

Contingencies	3 Months Ended
	Jun. 27, 2021
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. Certain of our former subsidiaries have been identified as potentially responsible parties (“PRP”), along with other parties, in regulatory agency actions associated with hazardous waste sites. As a PRP, those former subsidiaries may be required to pay a share of the costs of the investigation and clean-up of these sites. In that event, we would be obligated to indemnify those subsidiaries for those costs. 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 $695 and $696 as of June 27, 2021 and March 31, 2021, 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.

Operating Segment Information

Operating Segment Information	3 Months Ended
	Jun. 27, 2021
Segment Reporting [Abstract]
Operating Segment Information	Operating Segment Information We have seven operating segments, which have been aggregated into two reportable segments, Shooting Sports and Outdoor Products. This is consistent with how our chief operating decision maker (CODM), our Chief Executive Officer, allocates resources and makes decisions. Shooting Sports is comprised of our Ammunition and Hunting and Shooting operating segments. Outdoor Products is comprised of our Sports Protection, Outdoor Cooking, Hydration, Golf, and Cycling operating segments. The operating segments comprising our respective reportable segments share numerous commonalities, including similar core consumers, distribution channels, and supply chains. Our CODM relies on internal management reporting that analyzes consolidated results to the net income level and operating segment's EBIT, which is defined as earnings (loss) before interest and income taxes. Certain corporate-related costs and other non-recurring costs are not allocated to the segments in order to present comparable results from period to period. These include transition related-costs, merger and acquisition costs, and other non-recurring items. Shooting Sports generated approximately 70% of our external sales in the three months ended June 27, 2021. Outdoor Products generated approximately 30% of our external sales in the three months ended June 27, 2021. Walmart represented approximately 10% of our sales in both the three months ended June 27, 2021 and June 28, 2020. No other single customer contributed 10% or more of our sales in the three months ended June 27, 2021 and June 28, 2020. The following tables contain information utilized by management to evaluate our operating segments for the interim periods presented: Three months ended June 27, 2021 Shooting Sports Outdoor Products (a) Corporate and other reconciling items Total Sales, net $ 463,318 $ 199,594 $ — $ 662,912 Gross Profit 181,328 60,483 (384) 241,427 EBIT 141,722 25,927 (23,993) 143,656 Three months ended June 28, 2020 Shooting Sports Outdoor Products (a) Corporate and other reconciling items Total Sales, net $ 334,158 $ 144,982 $ — $ 479,140 Gross Profit 84,502 40,866 — 125,368 EBIT 54,565 11,506 (18,028) 48,043 (a) Reconciling items for the three months ended June 27, 2021 included a fair value step-up in inventory allocated from the HEVI-Shot acquisition of $384 and post-acquisition compensation expense allocated from the QuietKat acquisition of $546. There were no reconciling items for the three months ended June 28, 2020. Sales, net exclude all intercompany sales between Shooting Sports and Outdoor Products, which were not material for either of the three months ended June 27, 2021 and June 28, 2020.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 27, 2021
Accounting Policies [Abstract]
New Accounting Pronouncements	Our accounting policies are described in Note 1 of the Notes to the Consolidated Financial Statements in our Annual Report on Form 10-K for fiscal year 2021. Such significant accounting policies are applicable for periods prior to the following new accounting standards. Accounting Standards Adopted by us in Fiscal Year 2022 In August 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2020-06, " Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. " This ASU simplifies the accounting for convertible instruments by removing the separation models for (1) convertible debt with a cash conversion feature and (2) convertible instruments with a beneficial conversion feature. Also, this ASU requires the application of the if-converted method for calculating diluted earnings per share and the treasury stock method will be no longer available. The new guidance is effective for fiscal years beginning after December 15, 2021, with early adoption permitted no earlier than fiscal years beginning after December 15, 2020. Entities may adopt the guidance through either a modified retrospective method of transition or a fully retrospective method of transition. We early adopted ASU 2020-06 on April 1, 2021 with no impact on our financial statements. On April 1, 2021, we adopted ASU No. 2019-12, “ Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. ” This ASU removes specific exceptions to the general principles of ASC Topic 740, "Accounting for Income Taxes" and simplifies certain U.S. GAAP requirements. This update is effective for fiscal years beginning after December 15, 2020. The adoption of this standard does not have a material impact on our consolidated financial statements and related disclosures.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Jun. 27, 2021
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 table below discloses information about carrying values and estimated fair value relating to our financial assets and liabilities: June 27, 2021 March 31, 2021 Carrying Fair Carrying Fair Fixed-rate debt (1) $ 500,000 $ 510,000 $ 500,000 $ 493,750 (1) Fixed rate debt —In fiscal year 2021, we issued $500,000 aggregate principal amount o f 4.5% S enior Notes that will mature on March 15, 2029. These notes are unsecured and senior obligations. We consider these to be Level 2 instruments. See Note 13, Long-term Debt, for information on long-term debt, including certain risks and uncertainties.

Leases (Tables)

Leases (Tables)	3 Months Ended
	Jun. 27, 2021
Leases [Abstract]
Schedule of operating lease assets and liabilities	The amounts of assets and liabilities related to our operating leases were as follows: Balance Sheet Caption June 27, 2021 March 31, 2021 Assets: Operating lease assets Operating lease assets $ 74,541 $ 72,400 Liabilities: Current: Operating lease liabilities Other current liabilities $ 10,616 $ 10,044 Long-term: Operating lease liabilities Long-term operating lease liabilities 79,123 77,375 Total lease liabilities $ 89,739 $ 87,419
Schedule of lease cost and supplemental cash flow information	The components of lease expense are recorded to cost of sales and selling, general, and administration expenses in the condensed consolidated statements of comprehensive income (loss). The components of lease expense were as follows: Three months ended June 27, 2021 June 28, 2020 Fixed operating lease costs (1) $ 5,116 $ 5,059 Variable operating lease costs 669 582 Sublease income (44) (388) Net Lease costs $ 5,741 $ 5,253 (1) Includes short-term leases June 27, 2021 March 31, 2021 Weighted Average Remaining Lease Term (Years): Operating leases 9.02 9.32 Weighted Average Discount Rate: Operating leases 8.45 % 8.64 % Supplemental cash flow information related to leases is as follows: Three months ended June 27, 2021 June 28, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows - operating leases $ 4,278 $ 4,652 Operating lease assets obtained in exchange for lease liabilities: Operating leases 3,303 815
Schedule of future minimum lease payments	The approximate minimum lease payments under non-cancelable operating leases as of June 27, 2021 are as follows: Remainder of fiscal year 2022 $ 13,301 Fiscal year 2023 16,392 Fiscal year 2024 14,662 Fiscal year 2025 13,876 Fiscal year 2026 12,669 Thereafter 60,983 Total lease payments 131,883 Less imputed interest (42,144) Present value of lease liabilities $ 89,739

Acquisition and Divestitures (T

Acquisition and Divestitures (Tables)	3 Months Ended
	Jun. 27, 2021
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	Remington Purchase Price Allocation: October 12, 2020 Total purchase price: Cash paid $ 81,400 Cash paid for working capital 291 Total purchase price 81,691 Fair value of assets acquired: Inventories $ 20,021 Intangible assets 26,200 Property, plant, and equipment 31,200 Other assets 3,363 Total assets 80,784 Fair value of liabilities assumed: Accounts payable 311 Other liabilities 2,969 Total liabilities 3,280 Net assets acquired 77,504 Goodwill $ 4,187
Schedule of Acquired Indefinite-lived Intangible Assets by Major Class	Intangible assets above include: Value Useful life (years) Indefinite lived tradenames $ 24,500 Indefinite Customer relationships 1,700 20

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Jun. 27, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables disaggregate our net sales by major category: Three months ended June 27, 2021 June 28, 2020 Shooting Sports Outdoor Products Total Shooting Sports Outdoor Products Total Ammunition $ 364,287 $ — $ 364,287 $ 261,762 $ — $ 261,762 Hunting and Shooting 99,031 — 99,031 72,396 — 72,396 Action Sports (1) — 92,143 92,143 — 72,859 72,859 Outdoor Recreation (2) — 107,451 107,451 — 72,123 72,123 Total $ 463,318 $ 199,594 $ 662,912 $ 334,158 $ 144,982 $ 479,140 Geographic Region: United States $ 409,885 $ 148,069 $ 557,954 $ 307,388 $ 115,017 $ 422,405 Rest of the World 53,433 51,525 104,958 26,770 29,965 56,735 Total $ 463,318 $ 199,594 $ 662,912 $ 334,158 $ 144,982 $ 479,140 (1) Action Sports includes the operating segments: Sports Protection and Cycling. (2) Outdoor Recreation includes the operating segments: Hydration, Outdoor Cooking, and Golf.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Jun. 27, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	Three months ended (Amounts in thousands except per share data) June 27, 2021 June 28, 2020 Numerator: Net income $ 102,725 $ 40,476 Denominator: Weighted-average number of common shares outstanding basic: 58,123 58,057 Dilutive effect of share-based awards (1) 1,824 900 Diluted shares 59,947 58,957 Earnings per common share: Basic $ 1.77 $ 0.70 Diluted $ 1.71 $ 0.69 (1) Potentially dilutive securities, which were not included in the computation of diluted earnings per share, because either the effect would have been anti-dilutive, or the options’ exercise prices were greater than the average market price of the common stock, were 527 and 528 for the three months ended June 27, 2021 and June 28, 2020, respectively.

Receivables (Tables)

Receivables (Tables)	3 Months Ended
	Jun. 27, 2021
Receivables [Abstract]
Schedule of accounts, notes, loans and financing receivable	Net receivables are summarized as follows: June 27, 2021 March 31, 2021 Trade receivables $ 364,235 $ 307,098 Other receivables 7,972 7,899 Less: allowance for estimated credit losses and discounts (14,873) (13,422) Net receivables $ 357,334 $ 301,575 Note Receivable is summarized as follows: June 27, 2021 March 31, 2021 Principal $ 12,000 $ 12,000 Less: unamortized discount (2,984) (3,189) Note receivable, net, included within Deferred charges and other non-current assets $ 9,016 $ 8,811
Schedule of reconciliation of activity related to the allowance for estimated credit losses and discounts	The following provides a reconciliation of the activity related to the allowance for estimated credit losses and discounts for the three months ended June 27, 2021: Balance, March 31, 2021 $ 13,422 Provision for credit losses 492 Write-off of uncollectible amounts, net of recoveries (330) Discounts and other adjustments 1,289 Balance, June 27, 2021 $ 14,873

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Jun. 27, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Current net inventories consist of the following: June 27, 2021 March 31, 2021 Raw materials $ 148,575 $ 133,970 Work in process 54,504 47,829 Finished goods 301,998 272,705 Net inventories $ 505,077 $ 454,504

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (AOCL) (Tables)	3 Months Ended
	Jun. 27, 2021
Equity [Abstract]
Schedule of components of AOCL, net of income taxes	The components of AOCL, net of income taxes, are as follows: June 27, 2021 March 31, 2021 Derivatives $ 224 $ 161 Pension and other postretirement benefits liabilities (77,440) (78,166) Cumulative translation adjustment (4,984) (5,190) Total AOCL $ (82,200) $ (83,195)
Schedule of changes in balance of AOCL, net of income taxes	The following tables detail the amounts reclassified from AOCL to earnings as well as the changes in derivatives, pension and other postretirement benefits and foreign currency translation, net of income tax: Three months ended June 27, 2021 Derivatives Pension and other postretirement benefits liabilities Cumulative translation adjustment Total Beginning balance in AOCL $ 161 $ (78,166) $ (5,190) $ (83,195) Change in fair value of derivatives 650 — — 650 Net gains reclassified from AOCL (587) — — (587) Net actuarial losses reclassified from AOCL (1) — 798 — 798 Prior service costs reclassified from AOCL (1) — (72) — (72) Net change in cumulative translation adjustment — — 206 206 Ending balance in AOCL $ 224 $ (77,440) $ (4,984) $ (82,200) (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. Three months ended June 28, 2020 Derivatives Pension and other postretirement benefits liabilities Cumulative translation adjustment Total Beginning balance in AOCL $ (1,426) $ (93,353) $ (6,215) $ (100,994) Change in fair value of derivatives (5) — — (5) Net losses reclassified from AOCL 986 — — 986 Net actuarial losses reclassified from AOCL (1) — 968 — 968 Prior service costs reclassified from AOCL (1) — (78) — (78) Net change in cumulative translation adjustment — — 349 349 Ending balance in AOCL $ (445) $ (92,463) $ (5,866) $ (98,774) (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. 27, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in the carrying amount of goodwill by segment	Changes in the carrying value of goodwill by segment was as follows: Shooting Sports Outdoor Products Total Balance, March 31, 2021 $ 86,082 $ — $ 86,082 Acquisitions 23 11,668 11,691 Balance, June 27, 2021 $ 86,105 $ 11,668 $ 97,773
Schedule of net intangibles	Intangible assets by major asset class consisted of the following: June 27, 2021 March 31, 2021 Gross Accumulated Total Gross Accumulated Total Trade names $ 63,160 $ (19,184) $ 43,976 $ 49,560 $ (18,174) $ 31,386 Patented technology 16,954 (11,562) 5,392 16,954 (11,354) 5,600 Customer relationships and other 247,483 (102,804) 144,679 241,306 (98,939) 142,367 Total 327,597 (133,550) 194,047 307,820 (128,467) 179,353 Non-amortizing trade names 135,602 — 135,602 135,602 — 135,602 Net intangible assets $ 463,199 $ (133,550) $ 329,649 $ 443,422 $ (128,467) $ 314,955
Schedule of expected future amortization expense	As of June 27, 2021, we expect amortization expense related to these assets to be as follows: Remainder of fiscal year 2022 $ 16,009 Fiscal year 2023 21,233 Fiscal year 2024 21,181 Fiscal year 2025 21,163 Fiscal year 2026 18,153 Thereafter 96,308 Total $ 194,047

Other Current and Non-current_2

Other Current and Non-current Liabilities (Tables)	3 Months Ended
	Jun. 27, 2021
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 27, 2021 March 31, 2021 Accrual for in-transit inventory $ 27,502 24,356 Other 100,047 96,212 Total other current liabilities $ 127,549 $ 120,568 Long-term portion of accrued income tax liability $ 25,679 $ 23,000 Other 42,192 19,448 Total other long-term liabilities $ 67,871 $ 42,448
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, 2021 $ 8,696 Payments made (98) Warranties issued 335 Changes related to pre-existing warranties and other adjustments (63) Balance, June 27, 2021 $ 8,870

Long-term Debt (Tables)

Long-term Debt (Tables)	3 Months Ended
	Jun. 27, 2021
Debt Disclosure [Abstract]
Schedule of long-term debt	Long-term debt consisted of the following: June 27, 2021 March 31, 2021 4.5% Senior Notes $ 500,000 $ 500,000 Less: unamortized deferred financing costs (4,299) (4,436) Carrying amount of long-term debt $ 495,701 $ 495,564

Operating Segment Information (

Operating Segment Information (Tables)	3 Months Ended
	Jun. 27, 2021
Segment Reporting [Abstract]
Summary Results by Segment	The following tables contain information utilized by management to evaluate our operating segments for the interim periods presented: Three months ended June 27, 2021 Shooting Sports Outdoor Products (a) Corporate and other reconciling items Total Sales, net $ 463,318 $ 199,594 $ — $ 662,912 Gross Profit 181,328 60,483 (384) 241,427 EBIT 141,722 25,927 (23,993) 143,656 Three months ended June 28, 2020 Shooting Sports Outdoor Products (a) Corporate and other reconciling items Total Sales, net $ 334,158 $ 144,982 $ — $ 479,140 Gross Profit 84,502 40,866 — 125,368 EBIT 54,565 11,506 (18,028) 48,043 (a) Reconciling items for the three months ended June 27, 2021 included a fair value step-up in inventory allocated from the HEVI-Shot acquisition of $384 and post-acquisition compensation expense allocated from the QuietKat acquisition of $546. There were no reconciling items for the three months ended June 28, 2020. Sales, net exclude all intercompany sales between Shooting Sports and Outdoor Products, which were not material for either of the three months ended June 27, 2021 and June 28, 2020.

Significant Accounting Polici_3

Significant Accounting Policies (Details)	3 Months Ended
	Jun. 27, 2021reportable_segmentfacility
Accounting Policies [Abstract]
Number of reportable segments | reportable_segment	2
Number of manufacturing and distribution facilities | facility	17

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jul. 05, 2019	Jun. 27, 2021	Mar. 31, 2021
Fair value of assets and liabilities
Receivable with imputed interest, face amount	$ 12,000	$ 12,000	$ 12,000
Note receivable with imputed interest, term of contract	5 years
Long-term debt		495,701	495,564
Senior Notes, 4.5% | Carrying amount
Fair value of assets and liabilities
Fixed-rate debt		500,000	500,000
Senior Notes, 4.5%
Fair value of assets and liabilities
Long-term debt			$ 500,000
Long-term debt, percentage bearing fixed interest, percentage rate			4.50%
Fair value of assets and liabilities that are measured on a recurring basis | Fair value
Fair value of assets and liabilities
Receivable with imputed interest, effective yield (interest rate)	10.00%
Fair value of assets and liabilities that are measured on a recurring basis | Senior Notes, 4.5% | Fair value
Fair value of assets and liabilities
Fixed-rate debt		$ 510,000	$ 493,750

Leases - Narrative (Details)

Leases - Narrative (Details)	Jun. 27, 2021
Minimum
Lessee, Lease, Description [Line Items]
Renewal term (in years)	5 years

Leases - Operating Lease Assets

Leases - Operating Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 27, 2021	Mar. 31, 2021
Leases [Abstract]
Operating lease assets	$ 74,541	$ 72,400
Operating lease liabilities	10,616	10,044
Operating lease liabilities	79,123	77,375
Total lease liabilities	$ 89,739	$ 87,419

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2021	Jun. 28, 2020	Mar. 31, 2021
Leases [Abstract]
Fixed operating lease costs	$ 5,116	$ 5,059
Variable operating lease costs	669	582
Sublease income	(44)	(388)
Net Lease costs	$ 5,741	$ 5,253
Weighted Average Remaining Lease Term (Years):	9 years 7 days		9 years 3 months 25 days
Weighted Average Discount Rate:	8.45%		8.64%

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Jun. 27, 2021	Mar. 31, 2021
Leases [Abstract]
Remainder of fiscal year 2022	$ 13,301
Fiscal year 2023	16,392
Fiscal year 2024	14,662
Fiscal year 2025	13,876
Fiscal year 2026	12,669
Thereafter	60,983
Total lease payments	131,883
Less imputed interest	(42,144)
Present value of lease liabilities	$ 89,739	$ 87,419

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2021	Jun. 28, 2020
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities:	$ 4,278	$ 4,652
Operating lease assets obtained in exchange for lease liabilities:	$ 3,303	$ 815

Acquisitions and Divestitures -

Acquisitions and Divestitures - Narrative (Details) - USD ($) $ in Thousands	Oct. 12, 2020	Jun. 27, 2021	Jun. 28, 2020
Business Acquisition [Line Items]
Business combination, consideration transferred, liabilities incurred		$ 22,400	$ 0
Remington Outdoor Company, Inc.
Business Acquisition [Line Items]
Payments to acquire businesses, gross	$ 81,691
QuietKat
Business Acquisition [Line Items]
Business combination, consideration transferred, liabilities incurred		22,400
Other payments to acquire businesses		$ 13,000
Business acquisition, milestone payment period		3 years

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Remington Preliminary Purchase Price Allocation (Details) - USD ($) $ in Thousands	Oct. 12, 2020	Jun. 27, 2021	Mar. 31, 2021
Total purchase price:
Goodwill		$ 97,773	$ 86,082
Remington Outdoor Company, Inc.
Total purchase price:
Cash paid	$ 81,400
Cash paid for working capital	291
Total purchase price	81,691
Inventories	20,021
Intangible assets	26,200
Property, plant, and equipment	31,200
Other assets	3,363
Total assets	80,784
Accounts payable	311
Other liabilities	2,969
Total liabilities	3,280
Net assets acquired	77,504
Goodwill	$ 4,187

Acquisitions and Divestitures_3

Acquisitions and Divestitures - Indefinite and Finite-lived Intangible Assets Acquired (Details) - Remington Outdoor Company, Inc. $ in Thousands	Oct. 12, 2020USD ($)
Trade names
Acquired Indefinite-lived Intangible Assets [Line Items]
Indefinite-lived intangible assets acquired	$ 24,500
Customer relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 1,700
Acquired finite-lived intangible assets, weighted average useful life	20 years

Acquisitions and Divestitures_4

Acquisitions and Divestitures - Significant Nonrecurring Adjustments to Net Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2021	Jun. 28, 2020
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Net income	$ 102,725	$ 40,476

Acquisitions and Divestitures_5

Acquisitions and Divestitures - Divestiture of Business (Details) $ in Thousands	3 Months Ended
	Dec. 27, 2020USD ($)
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on divestiture of business	$ 18,467

Derivative Financial Instrume_2

Derivative Financial Instruments (Details) lb in Thousands	3 Months Ended
	Jun. 27, 2021lb
Lead Forward Contract
Derivative [Line Items]
Derivative, notional amount, mass	4,000

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2021	Jun. 28, 2020
Disaggregation of Revenue [Line Items]
Sales, net	$ 662,912	$ 479,140
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
United States
Disaggregation of Revenue [Line Items]
Sales, net	$ 557,954	422,405
Rest of the World
Disaggregation of Revenue [Line Items]
Sales, net	104,958	56,735
Ammunition
Disaggregation of Revenue [Line Items]
Sales, net	364,287	261,762
Hunting and Shooting
Disaggregation of Revenue [Line Items]
Sales, net	99,031	72,396
Action Sports (1)
Disaggregation of Revenue [Line Items]
Sales, net	92,143	72,859
Outdoor Recreation (2)
Disaggregation of Revenue [Line Items]
Sales, net	107,451	72,123
Outdoor Products
Disaggregation of Revenue [Line Items]
Sales, net	199,594	144,982
Outdoor Products | United States
Disaggregation of Revenue [Line Items]
Sales, net	148,069	115,017
Outdoor Products | Rest of the World
Disaggregation of Revenue [Line Items]
Sales, net	51,525	29,965
Outdoor Products | Action Sports (1)
Disaggregation of Revenue [Line Items]
Sales, net	92,143	72,859
Outdoor Products | Outdoor Recreation (2)
Disaggregation of Revenue [Line Items]
Sales, net	107,451	72,123
Shooting Sports
Disaggregation of Revenue [Line Items]
Sales, net	463,318	334,158
Shooting Sports | United States
Disaggregation of Revenue [Line Items]
Sales, net	409,885	307,388
Shooting Sports | Rest of the World
Disaggregation of Revenue [Line Items]
Sales, net	53,433	26,770
Shooting Sports | Ammunition
Disaggregation of Revenue [Line Items]
Sales, net	364,287	261,762
Shooting Sports | Hunting and Shooting
Disaggregation of Revenue [Line Items]
Sales, net	$ 99,031	$ 72,396

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 27, 2021	Jun. 28, 2020
Earnings Per Share [Abstract]
Comprehensive income (loss)	$ 103,720	$ 42,696
Basic EPS shares outstanding (in shares)	58,123	58,057
Dilutive effect of stock-based awards (in shares)	1,824	900
Diluted EPS shares outstanding (in shares)	59,947	58,957
Basic (in dollars per share)	$ 1.77	$ 0.70
Diluted (in dollars per share)	$ 1.71	$ 0.69
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	527	528

Receivables (Details)

Receivables (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 27, 2021	Mar. 31, 2021	Jul. 05, 2019
Receivables [Abstract]
Trade receivables	$ 364,235	$ 307,098
Other receivables	7,972	7,899
Less: allowance for estimated credit losses and discounts	(14,873)	(13,422)
Net receivables	357,334	301,575
Accounts, Notes, Loans and Financing Receivable [Line Items]
Receivable with imputed interest, face amount	12,000	12,000	$ 12,000
Receivable with Imputed Interest, Discount	(2,984)	(3,189)
Receivable with Imputed Interest, Net Amount	$ 9,016	$ 8,811
Walmart | Accounts Receivable | Credit Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage	22.00%	18.00%

Receivables - Schedule of Recon

Receivables - Schedule of Reconciliation of Activity Related to the Allowance for Estimated Credit Losses and Discounts (Details) $ in Thousands	3 Months Ended
	Jun. 27, 2021USD ($)
Receivables [Abstract]
Balance at beginning of period	$ 13,422
Provision for credit losses	492
Write-off of uncollectible amounts, net of recoveries	(330)
Discounts and other adjustments	1,289
Balance at end of period	$ 14,873

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 27, 2021	Mar. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 148,575	$ 133,970
Work in process	54,504	47,829
Finished goods	301,998	272,705
Net inventories	505,077	454,504
Long-term inventories	$ 10,674	$ 12,226

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (AOCL) (Components of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	Jun. 27, 2021	Mar. 31, 2021	Jun. 28, 2020	Mar. 31, 2020
Equity [Abstract]
Derivatives	$ 224	$ 161	$ (445)	$ (1,426)
Pension and other postretirement benefits liabilities	(77,440)	(78,166)
Cumulative translation adjustment	(4,984)	(5,190)
Total AOCL	$ (82,200)	$ (83,195)	$ (98,774)	$ (100,994)

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. 27, 2021	Jun. 28, 2020	Mar. 31, 2021	Mar. 31, 2020
Accumulated Other Comprehensive Income Loss [Line Items]
Derivatives	$ 224	$ (445)	$ 161	$ (1,426)
Pension and other postretirement benefits	(77,440)		(78,166)
Cumulative translation adjustment	(4,984)		(5,190)
Accumulated other comprehensive loss, total	(82,200)	(98,774)	(83,195)	(100,994)
Change in fair value of derivatives	650	(5)
Net gains reclassified from AOCL	(587)	986
Net actuarial losses reclassified from AOCL	798	968
Prior service costs reclassified from AOCL	(72)	(78)
Net change in cumulative translation adjustment	206	349
Pension and Other Postretirement Benefits Adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Pension and other postretirement benefits	(77,440)	(92,463)	(78,166)	(93,353)
Cumulative Translation Adjustment
Accumulated Other Comprehensive Income Loss [Line Items]
Cumulative translation adjustment	(4,984)	(5,866)	$ (5,190)	$ (6,215)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income Loss [Line Items]
Change in fair value of derivatives	650	(5)
Net gains reclassified from AOCL	587	986
Net actuarial losses reclassified from AOCL	798	968
Prior service costs reclassified from AOCL	(72)	(78)
Net change in cumulative translation adjustment	$ 206	$ 349

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2021	Jun. 28, 2020	Mar. 31, 2021
Indefinite-lived Intangible Assets [Line Items]
Goodwill	$ 97,773		$ 86,082
Amortization expense	4,998	$ 4,953
Outdoor Products
Indefinite-lived Intangible Assets [Line Items]
Goodwill	11,668		0
Shooting Sports
Indefinite-lived Intangible Assets [Line Items]
Goodwill	$ 86,105		$ 86,082

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets (Goodwill Rollforward) (Details) $ in Thousands	3 Months Ended
	Jun. 27, 2021USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 86,082
Acquisitions	11,691
Goodwill, ending balance	97,773
Shooting Sports
Goodwill [Roll Forward]
Goodwill, beginning balance	86,082
Acquisitions	23
Goodwill, ending balance	86,105
Outdoor Products
Goodwill [Roll Forward]
Goodwill, beginning balance	0
Acquisitions	11,668
Goodwill, ending balance	$ 11,668

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets (Schedule of Net Intangible Assets) (Details) - USD ($) $ in Thousands	Jun. 27, 2021	Mar. 31, 2021
Amortizing assets
Gross carrying amount	$ 327,597	$ 307,820
Accumulated amortization	(133,550)	(128,467)
Total	194,047	179,353
Intangible assets, gross	463,199	443,422
Net intangible assets	329,649	314,955
Trade names
Amortizing assets
Non-amortizing trade names	135,602	135,602
Trade names
Amortizing assets
Gross carrying amount	63,160	49,560
Accumulated amortization	(19,184)	(18,174)
Total	43,976	31,386
Patented technology
Amortizing assets
Gross carrying amount	16,954	16,954
Accumulated amortization	(11,562)	(11,354)
Total	5,392	5,600
Customer relationships and other
Amortizing assets
Gross carrying amount	247,483	241,306
Accumulated amortization	(102,804)	(98,939)
Total	$ 144,679	$ 142,367

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets (Future Amortization Expense) (Details) - USD ($) $ in Thousands	Jun. 27, 2021	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of fiscal year 2022	$ 16,009
Fiscal year 2023	21,233
Fiscal year 2024	21,181
Fiscal year 2025	21,163
Fiscal year 2026	18,153
Thereafter	96,308
Total	$ 194,047	$ 179,353

Other Current and Non-current_3

Other Current and Non-current Liabilities (Components of Current and Non-current Liabilities) (Details) - USD ($) $ in Thousands	Jun. 27, 2021	Mar. 31, 2021
Other Liabilities Disclosure [Abstract]
Accrual for in-transit inventory	$ 27,502	$ 24,356
Other	100,047	96,212
Total other current liabilities	127,549	120,568
Long-term portion of accrued income tax liability	25,679	23,000
Other	42,192	19,448
Total other long-term liabilities	$ 67,871	$ 42,448

Other Current and Non-current_4

Other Current and Non-current Liabilities (Narrative) (Details)	3 Months Ended
	Jun. 27, 2021
Minimum
Product Warranty Liability [Line Items]
Standard product warranty	one year

Other Current and Non-current_5

Other Current and Non-current Liabilities (Product Warranty Rollforward) (Details) $ in Thousands	3 Months Ended
	Jun. 27, 2021USD ($)
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Balance, March 31, 2021	$ 8,696
Payments made	(98)
Warranties issued	335
Changes related to pre-existing warranties and other adjustments	(63)
Balance, June 27, 2021	$ 8,870

Long-term Debt (Components of L

Long-term Debt (Components of Long-term Debt) (Details) - USD ($) $ in Thousands	Jun. 27, 2021	Mar. 31, 2021
Long-Term Debt
Less: unamortized deferred financing costs	$ (4,299)	$ (4,436)
Carrying amount of long-term debt	495,701	495,564
Senior Notes | Senior Notes, 4.5%
Long-Term Debt
4.5% Senior Notes	$ 500,000	$ 500,000

Long-term Debt (Narrative - Cre

Long-term Debt (Narrative - Credit Agreement) (Details) - USD ($)	3 Months Ended
	Jun. 27, 2021	Mar. 31, 2021	Nov. 19, 2018
Long-Term Debt
Long-term debt	$ 495,701,000	$ 495,564,000
Senior Notes, 4.5% | Carrying amount
Long-Term Debt
Fixed-rate debt	$ 500,000,000	500,000,000
Line of Credit
Long-Term Debt
Annual commitment fee on the unused portion (as a percent)	0.175%
Senior Notes | Senior Notes, 4.5%
Long-Term Debt
Principal amount of long-term debt	$ 500,000,000	500,000,000
Senior Notes | Senior Notes, 4.5% | Debt Instrument, Redemption, Period Two
Long-Term Debt
Debt Instrument, Redemption Price, Percentage Of Principal Amount Redeemable	0.40
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemable, Period Two	104.50%
Senior Notes, 4.5%
Long-Term Debt
Long-term debt		$ 500,000,000
Deferred finance costs gross, accordion feature	$ 4,481,000
Bottom threshold of guarantee	75,000,000
Debt Instrument, Interest Rate, Stated Percentage		4.50%
Revolving Credit Facility | Line of Credit | ABL Revolving Credit Facility, 2021
Long-Term Debt
Debt Instrument, Face Amount			$ 450,000,000
Principal amount of long-term debt	0
Letters of credit outstanding, amount	21,800,000
Line of credit facility, remaining borrowing capacity	$ 383,200,000
Annual commitment fee on the unused portion (as a percent)	0.175%
Deferred finance costs gross, accordion feature	$ 5,907,000
Line of Credit Facility, Current Borrowing Capacity	$ 45,000,000	$ 42,500,000
Debt Instrument, Covenant, Minimum Threshold Line Of Capacity	10.00%
Non-First-in, Last-out, Revolving Credit Facility | LIBOR | ABL Revolving Credit Facility, 2021
Long-Term Debt
Basis spread on variable rate margin (as a percent)	1.25%
Minimum | Non-First-in, Last-out, Revolving Credit Facility | Base Rate | ABL Revolving Credit Facility, 2021
Long-Term Debt
Basis spread on variable rate margin (as a percent)	0.25%
Maximum | Revolving Credit Facility | Line of Credit | ABL Revolving Credit Facility, 2021
Long-Term Debt
Line Of Credit Facility, Increased Borrowing Capacity, Amount		$ 150,000
Maximum | Non-First-in, Last-out, Revolving Credit Facility | Base Rate | ABL Revolving Credit Facility, 2021
Long-Term Debt
Basis spread on variable rate margin (as a percent)	0.75%
Maximum | Non-First-in, Last-out, Revolving Credit Facility | LIBOR | ABL Revolving Credit Facility, 2021
Long-Term Debt
Basis spread on variable rate margin (as a percent)	1.75%

Long-term Debt (Narrative - Cas

Long-term Debt (Narrative - Cash Paid for Interest on Debt) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2021	Jun. 28, 2020
Debt Disclosure [Abstract]
Interest paid, including capitalized interest	$ 0	$ 7,302

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($)	3 Months Ended
	Jun. 27, 2021	Jun. 28, 2020
Defined Benefit Plans
Defined benefit plan, net periodic benefit	$ 35,000	$ (21,000)
Pension Plan
Defined Benefit Plans
Contribution by employer	1,300,000	7,100,000
Other Postretirement Benefit Plans, Defined Benefit
Defined Benefit Plans
Contribution by employer	0	0
Required and expected contributions by employer for remainder of fiscal year	0
Supplemental Employee Retirement Plan
Defined Benefit Plans
Distributions by employer	0	$ 0
Required and expected contributions by employer for remainder of fiscal year	$ 0

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2021	Jun. 28, 2020
Income Tax Disclosure [Abstract]
Income tax provision (as a percent)	25.50%	2.80%
Income Taxes Paid, Net	$ 1,359	$ 265
Potential reduction of uncertain tax benefits over the next 12 months from audit settlements	$ 7,770
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Income tax provision (as a percent)	25.50%	2.80%
Reclassification of net actuarial loss for pension and postretirement benefit plans recorded to net income, net of tax expense of $(259) and $0, respectively	$ (259)	$ 0
Income Taxes Receivable	$ 42,193
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
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	$ 6,916

Contingencies (Details)

Contingencies (Details) - USD ($) $ in Thousands	Jun. 27, 2021	Mar. 31, 2021
Loss Contingency [Abstract]
Accrual for environmental loss contingencies	$ 695	$ 696

Operating Segment Information_2

Operating Segment Information (Narrative) (Details) $ in Thousands	3 Months Ended
	Jun. 27, 2021USD ($)reportable_segmentoperating_segment	Dec. 27, 2020USD ($)	Jun. 28, 2020USD ($)
Revenue, Major Customer [Line Items]
Number of operating segments | operating_segment	7
Number of reportable segments | reportable_segment	2
Major customer	Walmart
Net income	$ 102,725		$ 40,476
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Revenue, Major Customer [Line Items]
Gain (loss) on divestiture of business		$ (18,467)
Revenue from Contract with Customer Benchmark | Customer Concentration Risk | Walmart
Revenue, Major Customer [Line Items]
Concentration risk, percentage	10.00%		10.00%
Outdoor Products
Revenue, Major Customer [Line Items]
Revenues from external customers, percentage	30.00%
Shooting Sports
Revenue, Major Customer [Line Items]
Revenues from external customers, percentage	70.00%

Operating Segment Information_3

Operating Segment Information (Schedule of Results by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 27, 2021	Jun. 28, 2020
Segment Reporting Information [Line Items]
Sales, net	$ 662,912	$ 479,140
Gross profit	241,427	125,368
EBIT	143,656	48,043
Corporate and other reconciling items
Segment Reporting Information [Line Items]
Sales, net	0	0
Gross profit	(384)	0
EBIT	$ (23,993)	(18,028)
Outdoor Products
Segment Reporting Information [Line Items]
Revenues from external customers, percentage	30.00%
Sales, net	$ 199,594	144,982
Outdoor Products | Operating Segments
Segment Reporting Information [Line Items]
Sales, net	199,594	144,982
Gross profit	60,483	40,866
EBIT	25,927	11,506
Business combination, acquisition related costs	$ 546
Shooting Sports
Segment Reporting Information [Line Items]
Revenues from external customers, percentage	70.00%
Sales, net	$ 463,318	334,158
Shooting Sports | Operating Segments
Segment Reporting Information [Line Items]
Sales, net	463,318	334,158
Gross profit	181,328	84,502
EBIT	141,722	$ 54,565
Business combination, step acquisition, equity interest in acquiree, remeasurement loss	$ 384