Vista Outdoor (GEAR) 10-Q 3 Feb 22 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Dec. 26, 2021	Jan. 31, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 26, 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		56,258,763
Entity Central Index Key	0001616318
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Dec. 26, 2021	Mar. 31, 2021
Current assets:
Cash and cash equivalents	$ 39,641	$ 243,265
Net receivables	384,264	301,575
Net inventories	599,227	454,504
Income tax receivable	40,628	37,870
Other current assets	38,505	27,018
Total current assets	1,102,265	1,064,232
Net property, plant, and equipment	206,104	197,531
Operating lease assets	79,412	72,400
Goodwill	466,864	86,082
Net intangible assets	456,387	314,955
Deferred charges and other non-current assets, net	50,836	29,739
Total assets	2,361,868	1,764,939
Current liabilities:
Accounts payable	174,517	163,839
Accrued compensation	50,697	63,318
Federal excise, use, and other taxes	41,279	23,092
Other current liabilities	150,924	120,568
Total current liabilities	417,417	370,817
Long-term debt	715,981	495,564
Deferred income tax liabilities	11,454	8,235
Long-term operating lease liabilities	82,085	77,375
Accrued pension and postemployment benefits	28,220	33,503
Other long-term liabilities	76,386	42,448
Total liabilities	1,331,543	1,027,942
Commitments and contingencies (Notes 3, 13, and 16)
Issued and outstanding — 56,550,784 shares as of December 26, 2021 and 58,561,016 shares as of March 31, 2021	566	585
Additional paid-in capital	1,737,650	1,731,479
Accumulated deficit	(333,634)	(694,036)
Accumulated other comprehensive loss	(81,997)	(83,195)
Common stock in treasury, at cost — 7,413,655 shares held as of December 26, 2021 and 5,403,423 shares held as of March 31, 2021	(292,260)	(217,836)
Total stockholders' equity	1,030,325	736,997
Total liabilities and stockholders' equity	$ 2,361,868	$ 1,764,939

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - $ / shares	Dec. 26, 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)	56,550,784	58,561,016
Common stock, outstanding (in shares)	56,550,784	58,561,016
Common stock in treasury (in shares)	7,413,655	5,403,423

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2021	Dec. 27, 2020	Dec. 26, 2021	Dec. 27, 2020
Income Statement [Abstract]
Sales, net	$ 794,654	$ 574,679	$ 2,236,026	$ 1,628,998
Cost of sales	513,184	411,447	1,414,208	1,178,508
Gross profit	281,470	163,232	821,818	450,490
Operating expenses:
Research and development	7,478	5,483	19,786	15,855
Selling, general, and administrative	115,045	88,768	308,690	242,355
Earnings before interest, income taxes, and other	158,947	68,981	493,342	192,280
Other income, net (Note 4)	0	18,467	0	18,467
Earnings before interest and income taxes	158,947	87,448	493,342	210,747
Interest expense, net	(6,695)	(5,619)	(18,302)	(17,752)
Earnings before income taxes	152,252	81,829	475,040	192,995
Income tax (provision) benefit	(34,115)	(2,950)	(114,638)	6,005
Net income	$ 118,137	$ 78,879	$ 360,402	$ 199,000
Earnings per common share:
Basic (in dollars per share)	$ 2.07	$ 1.35	$ 6.26	$ 3.42
Diluted (in dollars per share)	$ 2	$ 1.31	$ 6.07	$ 3.34
Weighted-average number of common shares outstanding:
Basic (in shares)	57,162	58,303	57,540	58,183
Diluted (in shares)	59,066	60,101	59,404	59,594
Pension and other postretirement benefit liabilities:
Reclassification of prior service credits for pension and postretirement benefit plans recorded to net income, net of tax benefit of $190 and $244, for the three and nine months ended December 26, 2021, respectively, and $0 and $0 for the three and nine months ended December 27, 2020, respectively	$ (585)	$ (78)	$ (752)	$ (235)
Reclassification of net actuarial loss for pension and postretirement benefit plans recorded to net income, net of tax expense of $(348) and $(867) for the three and nine months ended December 26, 2021, respectively, and $0 and $0 for the three and nine months ended December 27, 2020, respectively	1,072	969	2,671	2,907
Change in derivatives, net of tax benefit of $33 and $154 for the three and nine months ended December 26, 2021, respectively, and $0 and $0 for the three and nine months ended December 27, 2020, respectively	(102)	1,151	(475)	2,825
Change in cumulative translation adjustment	(115)	375	(246)	884
Total other comprehensive income	270	2,417	1,198	6,381
Comprehensive income	$ 118,407	$ 81,296	$ 361,600	$ 205,381

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2021	Dec. 27, 2020	Dec. 26, 2021	Dec. 27, 2020
Income Statement [Abstract]
Reclassification of prior service credits for pension and postretirement benefit plans recorded to net income, net of tax benefit of $190 and $244, for the three and nine months ended December 26, 2021, respectively, and $0 and $0 for the three and nine months ended December 27, 2020, respectively	$ 190	$ 0	$ 244	$ 0
Reclassification of net actuarial loss for pension and postretirement benefit plans recorded to net income, net of tax expense of $(348) and $(867) for the three and nine months ended December 26, 2021, respectively, and $0 and $0 for the three and nine months ended December 27, 2020, respectively	(348)	0	(867)	0
Change in derivatives, net of tax benefit of $33 and $154 for the three and nine months ended December 26, 2021, respectively, and $0 and $0 for the three and nine months ended December 27, 2020, respectively	$ 33	$ 0	$ 154	$ 0

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Dec. 26, 2021	Dec. 27, 2020
Operating Activities
Net income	$ 360,402	$ 199,000
Adjustments to net income to arrive at cash provided by operating activities:
Depreciation	33,980	33,625
Amortization of intangible assets	18,031	14,845
Amortization of deferred financing costs	1,057	1,133
Gain on sale of business	0	(18,467)
Deferred income taxes	(1,287)	2,449
Loss on disposal of property, plant, and equipment	223	1,850
Share-based compensation	20,562	10,013
Changes in assets and liabilities:
Net receivables	(78,120)	(1,786)
Net inventories	(131,994)	6,966
Accounts payable	4,367	28,067
Accrued compensation	(13,947)	4,015
Accrued income taxes	667	(36,027)
Federal excise, use, and other taxes	8,977	4,729
Pension and other postretirement benefits	(1,536)	(6,680)
Other assets and liabilities	(1,916)	63,587
Cash provided by operating activities	219,466	307,319
Investing Activities:
Capital expenditures	(24,828)	(17,603)
Proceeds from sale of business	0	23,654
Acquisition of businesses, net of cash received	(528,508)	(81,691)
Proceeds from the disposition of property, plant, and equipment	383	25
Cash used for investing activities	(552,953)	(75,615)
Financing Activities:
Borrowings on lines of credit	300,000	73,077
Payments on lines of credit	(80,000)	(240,333)
Payments made for debt issuance costs	(1,053)	0
Purchase of treasury shares	(86,121)	0
Proceeds from exercise of stock options	325	1,100
Payment of employee taxes related to vested stock awards	(3,087)	(576)
Cash provided by (used) for financing activities	130,064	(166,732)
Effect of foreign exchange rate fluctuations on cash	(201)	120
(Decrease) increase in cash and cash equivalents	(203,624)	65,092
Cash and cash equivalents at beginning of period	243,265	31,375
Cash and cash equivalents at end of period	39,641	96,467
Supplemental Cash Flow Disclosures:
Capital expenditures included in accounts payable	1,963	1,931
Contingent consideration in connection with business combinations	$ 26,025	$ 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
Beginning balance (in shares) at Mar. 31, 2020		58,038,822
Beginning 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)	205,381			199,000	6,381
Exercise of stock options (in shares)		83,196
Exercise of stock options	1,321		(2,055)			3,376
Share-based compensation	10,013		10,013
Restricted stock vested and shares withheld (in shares)		79,506
Restricted stock vested and shares withheld	(642)		(4,843)			4,201
Employee stock purchase plan (in shares)		8,972
Employee stock purchase plan	143		(222)			365
Other (in shares)		109,640
Other		$ 3
Other	7		(4,446)			4,450
Ending balance (in shares) at Dec. 27, 2020		58,320,136
Ending balance at Dec. 27, 2020	658,728	$ 583	1,742,543	(761,048)	(94,613)	(228,737)
Beginning balance (in shares) at Sep. 27, 2020		58,256,243
Beginning balance at Sep. 27, 2020	574,637	$ 583	1,742,645	(839,927)	(97,030)	(231,634)
Increase (Decrease) in Stockholders' Equity
Comprehensive income (loss)	81,296			78,879	2,417
Exercise of stock options (in shares)		27,382
Exercise of stock options	516		(594)			1,110
Share-based compensation	2,547		2,547
Restricted stock vested and shares withheld (in shares)		28,002
Restricted stock vested and shares withheld	(336)		(1,778)			1,442
Employee stock purchase plan (in shares)		3,537
Employee stock purchase plan	68		(76)			144
Other (in shares)		4,972
Other	0		(201)			201
Ending balance (in shares) at Dec. 27, 2020		58,320,136
Ending balance at Dec. 27, 2020	658,728	$ 583	1,742,543	(761,048)	(94,613)	(228,737)
Beginning balance (in shares) at Mar. 31, 2021		58,561,016
Beginning 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)	361,600			360,402	1,198
Exercise of stock options (in shares)		15,277
Exercise of stock options	325		(278)			603
Share-based compensation	20,562		20,562
Restricted stock vested and shares withheld (in shares)		186,208
Restricted stock vested and shares withheld	(3,264)		(11,590)			8,326
Employee stock purchase plan (in shares)		5,529
Employee stock purchase plan	227		9			218
Treasury shares purchased (in shares)		(2,281,956)
Treasury shares purchased	86,121					86,121
Other (in shares)		64,710
Other		$ (19)
Other	(1)		(2,532)			2,550
Ending balance (in shares) at Dec. 26, 2021		56,550,784
Ending balance at Dec. 26, 2021	1,030,325	$ 566	1,737,650	(333,634)	(81,997)	(292,260)
Beginning balance (in shares) at Sep. 26, 2021		57,288,160
Beginning balance at Sep. 26, 2021	935,013	$ 573	1,731,665	(451,771)	(82,267)	(263,187)
Increase (Decrease) in Stockholders' Equity
Comprehensive income (loss)	118,407			118,137	270
Exercise of stock options (in shares)		5,976
Exercise of stock options	97		(139)			236
Share-based compensation	6,750		6,750
Restricted stock vested and shares withheld (in shares)		8,483
Restricted stock vested and shares withheld	(165)		(486)			321
Employee stock purchase plan (in shares)		2,803
Employee stock purchase plan	107		(3)			110
Treasury shares purchased (in shares)		(758,273)
Treasury shares purchased	29,882					29,882
Other (in shares)		3,635
Other		$ (7)
Other	(2)		(137)			142
Ending balance (in shares) at Dec. 26, 2021		56,550,784
Ending balance at Dec. 26, 2021	$ 1,030,325	$ 566	$ 1,737,650	$ (333,634)	$ (81,997)	$ (292,260)

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (unaudited) (Parenthetical) - $ / shares	Dec. 26, 2021	Mar. 31, 2021	Dec. 27, 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	9 Months Ended
	Dec. 26, 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 recreation and shooting sports products. We operate through two reportable segments, Sporting Products and Outdoor Products. We are headquartered in Anoka, Minnesota and have 23 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 December 26, 2021 and March 31, 2021, our results of operations for the three and nine months ended December 26, 2021 and December 27, 2020, and our cash flows for the nine months ended December 26, 2021 and December 27, 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 provided that 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. In October 2021, the FASB issued ASU No. 2021-08, “ Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. ” This ASU requires that an entity (acquirer) recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. This update is effective for fiscal years beginning after December 15, 2022. We early adopted ASU 2021-08 during the third quarter of fiscal year 2022, and retroactively applied it to periods beginning on April 1, 2021. The adoption of this standard did not have a material impact to our purchase accounting and our consolidated financial statements and related disclosures. Change in Reportable Segments—during the third quarter of fiscal year 2022, we modified and renamed our reportable segments to provide investors with improved disclosures and reflect how our chief operating decision maker ("CODM"), our Chief Executive Officer, allocates resources and makes decisions. See Note 17, Operating Segment Information, for additional information. Historical amounts have been reclassified in these accompanying notes herewith to conform to the current presentation.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Dec. 26, 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 liabilities of $23,134 and $3,625 represent the estimated fair values of earn-outs payable related to our acquisitions of QuietKat Inc. ("QuietKat") and Fiber Energy Products ("Fiber"), respectively. See Note 4, Acquisitions and Divestitures , for additional information. The earn-out liabilities are 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 QuietKat contingent consideration is measured to fair value at each reporting date through December 31, 2023. The Fiber contingent consideration is measured to fair value at each reporting date through November 3, 2024. The fair value calculations are based on management estimates and entity-specific assumptions, which are considered Level 3 inputs. The liabilities are 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 December 26, 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 December 26, 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: December 26, 2021 March 31, 2021 Carrying Fair Carrying Fair Fixed-rate debt (1) $ 500,000 $ 500,500 $ 500,000 $ 493,750 Variable-rate debt (2) 220,000 220,000 — — (1) 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. (2) The carrying value of the amounts outstanding under our ABL Revolving Credit Facility approximates the fair value because the interest rates are variable and reflective of market rates. The fair value of this debt is categorized within Level 2 of the fair value hierarchy based on the observable market borrowing rates. See Note 13, Long-term Debt, for additional information on our credit facilities, including certain risks and uncertainties.

Leases

Leases	9 Months Ended
	Dec. 26, 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 December 26, 2021 March 31, 2021 Assets: Operating lease assets Operating lease assets $ 79,412 $ 72,400 Liabilities: Current: Operating lease liabilities Other current liabilities $ 12,193 $ 10,044 Long-term: Operating lease liabilities Long-term operating lease liabilities 82,085 77,375 Total lease liabilities $ 94,278 $ 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. The components of lease expense were as follows: Three months ended Nine months ended December 26, 2021 December 27, 2020 December 26, 2021 December 27, 2020 Fixed operating lease costs (1) $ 5,795 $ 5,593 $ 16,297 $ 15,704 Variable operating lease costs 701 806 2,284 2,047 Operating and sub-lease income (180) (67) (331) (732) Net Lease costs $ 6,316 $ 6,332 $ 18,250 $ 17,019 (1) Includes short-term leases December 26, 2021 March 31, 2021 Weighted Average Remaining Lease Term (Years): Operating leases 8.62 9.32 Weighted Average Discount Rate: Operating leases 8.12 % 8.64 % The approximate minimum lease payments under non-cancelable operating leases as of December 26, 2021 are as follows: Remainder of fiscal year 2022 $ 4,882 Fiscal year 2023 18,642 Fiscal year 2024 16,358 Fiscal year 2025 15,158 Fiscal year 2026 13,724 Thereafter 65,871 Total lease payments 134,635 Less imputed interest (40,357) Present value of lease liabilities $ 94,278 Supplemental cash flow information related to leases is as follows: Nine months ended December 26, 2021 December 27, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows - operating leases $ 14,054 $ 13,077 Operating lease assets obtained in exchange for lease liabilities: Operating leases 13,472 11,487

Acquisitions and Divestitures

Acquisitions and Divestitures	9 Months Ended
	Dec. 26, 2021
Business Combination and Asset Acquisition [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures During the third quarter of fiscal year 2022, we acquired Fiber Energy Products, a leader in all-natural wood grilling pellets. This latest strategic transaction secures a continuous supply of pellets for our Camp Chef business and expands our revenue in a consumable category. The results of this business will be reported within the Outdoor Products reportable segment. Contingent consideration with an initial fair value of $3,625 was included in the purchase price. See Note 2, Fair Value of Financial Instruments , for information related to the fair value calculation. We performed a preliminary allocation of the purchase price to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date. The preliminary fair values of acquired assets and liabilities assumed represent management’s estimate of fair value and are subject to change if additional information, such as post-close working capital adjustments becomes available. We expect to finalize the purchase price allocation as soon as practicable within the measurement period, but not later than one year following the acquisition date. The acquisition is not significant to our consolidated financial statements and as such we have not included disclosures of the allocation of the purchase price or any pro forma information. During the third quarter of fiscal year 2022, we acquired Foresight Sports ("Foresight"), a leading designer and manufacturer of golf performance analysis, entertainment, and game enhancement technologies for approximately $470,622. The purchase agreement includes $5,599 related to employee retention payments, which will be accounted for separately from the business combination as post combination compensation expense. Contingent payments of up to $25,000 if certain net sales targets are met will also be accounted for separately from the business combination as post combination compensation expense. We used cash on hand and available liquidity under our 2021 ABL Revolving Credit Facility to complete the transaction. The results of this business will be reported within the Outdoor Products reportable segment. Due to the timing of the transaction, purchase accounting is incomplete. Foresight's net sales of $28,586 and net income of $8,880 since the acquisition date, September 28, 2021, were included in our consolidated results for the three months ended December 26, 2021, and are reflected in the Outdoor Products reportable segment. We accounted for the acquisition of Foresight as a business combination using the acquisition method of accounting. The preliminary 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 preliminary fair values of acquired assets and liabilities assumed represent management’s estimate of fair value and are subject to change if additional information, such as post-close working capital adjustments becomes available. We expect to finalize the purchase price allocation as soon as practicable within the measurement period, but not later than one year following the acquisition date. The excess of the consideration transferred over the estimated fair value of the net assets received has been recorded as goodwill. The factors that contributed to the recognition of goodwill primarily relate to acquisition-driven anticipated cost savings and synergies. Assembled workforce is not recognized separate and apart from goodwill as it is neither separable nor contractual in nature. The goodwill is deductible for tax purposes. Foresight preliminary purchase price allocation: September 28, 2021 Total consideration transferred $ 470,622 470,622 Fair value of assets acquired: Accounts receivable $ 2,806 Inventories 10,780 Intangible assets 131,500 Property, plant, and equipment 1,870 Operating lease assets 6,506 Other long-term assets 2,006 Total assets 155,468 Fair value of liabilities assumed: Accounts payable 6,177 Customer deposits 2,084 Long-term operating lease liabilities 5,961 Contract liabilities 2,992 Other liabilities 1,646 Other long-term liabilities 9,182 Total liabilities 28,042 Net assets acquired 127,426 Goodwill $ 343,196 Foresight intangible assets above include: Value Useful life (years) Tradenames $ 42,500 20 Patented technology 19,900 5 to 10 Customer Relationships 69,100 5 to 15 Foresight supplemental pro forma data: The following unaudited pro forma financial information presents our results as if the Foresight acquisition had occurred on April 1, 2020: Three months ended Nine months ended December 26, 2021 December 27, 2020 December 26, 2021 December 27, 2020 Sales, net $ 794,654 $ 596,973 $ 2,279,625 $ 1,676,361 Net income 120,415 84,065 368,725 197,854 The unaudited supplemental pro forma data above includes the following significant non-recurring adjustments to net income to account for certain costs which would have been incurred if the Foresight acquisition had been completed on April 1, 2020: Three months ended Nine months ended December 26, 2021 December 27, 2020 December 26, 2021 December 27, 2020 Fees for advisory, legal, and accounting services (1) $ (1,030) $ — $ (3,089) $ 3,089 Inventory step-up, net (2) (1,247) — (1,247) $1,247 Interest (3) — 1,223 2,203 5,320 Depreciation (4) — 165 331 469 Amortization (5) — 2,313 4,626 6,939 Income tax provision (6) — 2,807 3,520 3,750 (1) During the nine months ended December 26, 2021, we incurred a total of $3,089 in acquisition related costs, including legal and other professional fees, related to the acquisition, all of which were reported in selling, general, and administrative expense in the condensed consolidated statements of comprehensive income. This adjustment is to show the results as if those fees were incurred during the first quarter of fiscal 2021. (2) Adjustment reflects the increased cost of goods sold expense resulting from the fair value step-up in inventory which was expensed in full during the quarter. (3) Adjustment to reflect an increase in interest expense resulting from assumed advances to complete the transaction on our 2018 New Credit Facilities prior to March 31, 2021 and our 2021 ABL Revolving Credit Facility after March 31, 2021. (4) Adjustment for depreciation related to the revised fair-value basis of the acquired property, plant and equipment and change in estimated useful lives. (5) Adjustment for amortization of acquired intangible assets. (6) Income tax effect of the adjustments made at a blended federal and state statutory rate including the impact of the valuation allowance. 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 at December 26, 2021. 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 provided they continue their employment with us through the respective milestone dates. 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 Remington intangible assets above include: Value Useful life (years) Indefinite lived tradenames $ 24,500 Indefinite Customer relationships 1,700 20 Divestiture of business:

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Dec. 26, 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 2022 and 2021. 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 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 December 26, 2021, we had outstanding lead forward contracts on approximately 2.9 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 loss and recognized in earnings. As of December 26, 2021, there is an immaterial asset balance related to the lead forward contracts that is recorded within other current assets.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Dec. 26, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Consistent with our changes in reportable segments, see Note 17, Operating Segment Information, for additional information, we changed our presentation of disaggregated revenue to align with the new segment structure and names. Prior comparative periods have been restated to conform to the change in our reportable segments. The following tables disaggregate our net sales by major product category: Three months ended December 26, 2021 December 27, 2020 Sporting Products Outdoor Products Total Sporting Products Outdoor Products Total Sporting Products (1) $ 459,646 $ — $ 459,646 $ 287,855 $ — $ 287,855 Outdoor Accessories (2) — 119,345 119,345 — 113,662 113,662 Action Sports (3) — 98,714 98,714 — 88,907 88,907 Outdoor Recreation (4) — 116,949 116,949 — 84,255 84,255 Total $ 459,646 $ 335,008 $ 794,654 $ 287,855 $ 286,824 $ 574,679 Geographic Region: United States $ 434,326 $ 250,725 $ 685,051 $ 267,186 $ 229,101 $ 496,287 Rest of the World 25,320 84,283 109,603 20,669 57,723 78,392 Total $ 459,646 $ 335,008 $ 794,654 $ 287,855 $ 286,824 $ 574,679 Nine months ended December 26, 2021 December 27, 2020 Sporting Products Outdoor Products Total Sporting Products Outdoor Products Total Sporting Products (1) $ 1,274,127 $ — $ 1,274,127 $ 821,837 $ — $ 821,837 Outdoor Accessories (2) — 334,533 334,533 — 293,525 293,525 Action Sports (3) — 295,501 295,501 — 259,213 259,213 Outdoor Recreation (4) — 331,865 331,865 — 254,423 254,423 Total $ 1,274,127 $ 961,899 $ 2,236,026 $ 821,837 $ 807,161 $ 1,628,998 Geographic Region: United States $ 1,196,309 $ 723,902 $ 1,920,211 $ 768,457 $ 654,758 $ 1,423,215 Rest of the World 77,818 237,997 315,815 53,380 152,403 205,783 Total $ 1,274,127 $ 961,899 $ 2,236,026 $ 821,837 $ 807,161 $ 1,628,998 (1) Sporting Products includes the Ammunition operating segment. (2) Outdoor Accessories includes the Outdoor Accessories (formerly named Hunting and Shooting) operating segment. (3) Action Sports includes the operating segments: Sports Protection and Cycling. (4) Outdoor Recreation includes the operating segments: Hydration, Outdoor Cooking, and Golf. Product Sales: For the majority of our contracts with customers, 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. For our contracts that include bundled and hardware and software sales, revenue related to delivered hardware and bundled software is recognized when control has transferred to the customer, which typically occurs upon shipment. Revenue allocated to unspecified software update rights is deferred and recognized on a straight-line basis over the estimated period they are expected to be provided. 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, federal excise taxes, and other similar taxes are excluded from revenue. For the immaterial amount of our contracts that have multiple performance obligations, which represent promises within an arrangement that are distinct, we allocate revenue to all distinct performance obligations based on their relative stand-alone selling prices (“SSPs”). When available, we use observable prices to determine SSPs. When observable prices are not available, SSPs are established that reflect our best estimates of what the selling prices of the performance obligations would be if they were sold regularly on a stand-alone basis. We allocate revenue and any related discounts to these performance obligations based on their relative SSPs. 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	9 Months Ended
	Dec. 26, 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: Three months ended Nine months ended (Amounts in thousands except per share data) December 26, 2021 December 27, 2020 December 26, 2021 December 27, 2020 Numerator: Net income $ 118,137 $ 78,879 $ 360,402 $ 199,000 Denominator: Weighted-average number of common shares outstanding basic: 57,162 58,303 57,540 58,183 Dilutive effect of share-based awards (1) 1,904 1,798 1,864 1,411 Diluted shares 59,066 60,101 59,404 59,594 Earnings per common share: Basic $ 2.07 $ 1.35 $ 6.26 $ 3.42 Diluted $ 2.00 $ 1.31 $ 6.07 $ 3.34 (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

Receivables

Receivables	9 Months Ended
	Dec. 26, 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: December 26, 2021 March 31, 2021 Trade receivables $ 391,727 $ 307,098 Other receivables 7,989 7,899 Less: allowance for estimated credit losses and discounts (15,452) (13,422) Net receivables $ 384,264 $ 301,575 No customers represented more than 10% of our total trade receivables balance as of December 26, 2021. Walmart represented 18% of our total trade receivables balance as of March 31, 2021. The following provides a reconciliation of the activity related to the allowance for estimated credit losses and discounts for the nine months ended December 26, 2021: Balance, March 31, 2021 $ 13,422 Provision for credit losses 2,105 Write-off of uncollectible amounts, net of recoveries (751) Other adjustments 676 Balance, December 26, 2021 $ 15,452 Note Receivable is summarized as follows: December 26, 2021 March 31, 2021 Principal $ 12,000 $ 12,000 Less: unamortized discount (2,533) (3,189) Note receivable, net, included within Deferred charges and other non-current assets $ 9,467 $ 8,811

Inventories

Inventories	9 Months Ended
	Dec. 26, 2021
Inventory Disclosure [Abstract]
Inventories	Inventories Current net inventories consist of the following: December 26, 2021 March 31, 2021 Raw materials $ 181,157 $ 133,970 Work in process 59,590 47,829 Finished goods 358,480 272,705 Net inventories $ 599,227 $ 454,504

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss (AOCL)	9 Months Ended
	Dec. 26, 2021
Equity [Abstract]
Accumulated Other Comprehensive Loss (AOCL)	Accumulated Other Comprehensive Loss (AOCL) The components of AOCL, net of income taxes, are as follows: December 26, 2021 March 31, 2021 Derivatives $ (314) $ 161 Pension and other postretirement benefits liabilities (76,247) (78,166) Cumulative translation adjustment (5,436) (5,190) Total AOCL $ (81,997) $ (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 December 26, 2021 Nine months ended December 26, 2021 Derivatives Pension and other postretirement benefits liabilities Cumulative translation adjustment Total Derivatives Pension and other postretirement benefits liabilities Cumulative translation adjustment Total Beginning balance in AOCL $ (212) $ (76,734) $ (5,321) $ (82,267) $ 161 $ (78,166) $ (5,190) $ (83,195) Change in fair value of derivatives 298 — — 298 1,065 — — 1,065 Net gains reclassified from AOCL (400) — — (400) (1,540) — — (1,540) Net actuarial losses reclassified from AOCL (1) — 1,072 — 1,072 — 2,671 — 2,671 Prior service costs reclassified from AOCL (1) — (585) — (585) — (752) — (752) Net change in cumulative translation adjustment — — (115) (115) — — (246) (246) Ending balance in AOCL $ (314) $ (76,247) $ (5,436) $ (81,997) $ (314) $ (76,247) $ (5,436) $ (81,997) (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 December 27, 2020 Nine months ended December 27, 2020 Derivatives Pension and other postretirement benefits liabilities Cumulative translation adjustment Total Derivatives Pension and other postretirement benefits liabilities Cumulative translation adjustment Total Beginning balance in AOCL $ 248 $ (91,572) $ (5,706) $ (97,030) $ (1,426) $ (93,353) $ (6,215) $ (100,994) Change in fair value of derivatives 1,220 — — 1,220 1,813 — — 1,813 Net (gains) losses reclassified from AOCL (69) — — (69) 1,012 — — 1,012 Net actuarial losses reclassified from AOCL (1) — 969 — 969 — 2,907 — 2,907 Prior service costs reclassified from AOCL (1) — (78) — (78) — (235) — (235) Net change in cumulative translation adjustment — — 375 375 — — 884 884 Ending balance in AOCL $ 1,399 $ (90,681) $ (5,331) $ (94,613) $ 1,399 $ (90,681) $ (5,331) $ (94,613) (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	9 Months Ended
	Dec. 26, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Changes in the carrying value of goodwill by reportable segment were as follows: Sporting Products Outdoor Products Total Balance, March 31, 2021 $ 86,082 $ — $ 86,082 Acquisitions 23 380,759 380,782 Balance, December 26, 2021 $ 86,105 $ 380,759 $ 466,864 Intangible assets by major asset class consisted of the following: December 26, 2021 March 31, 2021 Gross Accumulated Total Gross Accumulated Total Trade names $ 106,889 $ (21,962) $ 84,927 $ 49,560 $ (18,174) $ 31,386 Patented technology 36,854 (12,545) 24,309 16,954 (11,354) 5,600 Customer relationships and other 323,480 (111,931) 211,549 241,306 (98,939) 142,367 Total 467,223 (146,438) 320,785 307,820 (128,467) 179,353 Non-amortizing trade names 135,602 — 135,602 135,602 — 135,602 Net intangible assets $ 602,825 $ (146,438) $ 456,387 $ 443,422 $ (128,467) $ 314,955 Amortization expense was $7,614 and $4,946 for the three months ended December 26, 2021 and December 27, 2020, respectively, and $18,031 and $14,845 for the nine months ended December 26, 2021 and December 27, 2020, respectively. As of December 26, 2021, we expect amortization expense related to these assets to be as follows: Remainder of fiscal year 2022 $ 8,068 Fiscal year 2023 31,326 Fiscal year 2024 31,273 Fiscal year 2025 31,255 Fiscal year 2026 28,246 Thereafter 190,617 Total $ 320,785

Other Current and Non-current L

Other Current and Non-current Liabilities	9 Months Ended
	Dec. 26, 2021
Other Liabilities Disclosure [Abstract]
Other Current and Non-current Liabilities	Other Current and Non-Current Liabilities Other current and non-current liabilities consisted of the following: December 26, 2021 March 31, 2021 Accrual for in-transit inventory $ 19,567 $ 24,356 Other 131,357 96,212 Total other current liabilities $ 150,924 $ 120,568 Long-term portion of accrued income tax liability $ 26,420 $ 23,000 Other 49,966 19,448 Total other non-current liabilities $ 76,386 $ 42,448 We provide consumer warranties against manufacturing defects on certain products within the Sporting Products 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 (2,916) Warranties issued 3,182 Changes related to pre-existing warranties and other adjustments 178 Balance, December 26, 2021 $ 9,140

Long-term Debt

Long-term Debt	9 Months Ended
	Dec. 26, 2021
Debt Disclosure [Abstract]
Long-term Debt	Long-term Debt Long-term debt consisted of the following: December 26, 2021 March 31, 2021 2021 ABL Revolving Credit Facility $ 220,000 $ — 4.5% Senior Notes 500,000 500,000 Less: unamortized deferred financing costs (4,019) (4,436) Carrying amount of long-term debt $ 715,981 $ 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 December 26, 2021, the Excess Availability, based on the borrowing base less outstanding borrowings of $220,000 and outstanding letters of credit of $16,791, less the minimum required borrowing base of $45,000, the amount available under the 2021 ABL Revolving Credit Facility was $168,209. 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 December 26, 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 $6,004, are being amortized over the remaining 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 or (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 less the minimum required borrowing base under the 2021 ABL Revolving Credit Facility was $168,209 as of December 26, 2021. Vista Outdoor 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 the other debt agreement. As of December 26, 2021, we were in compliance with the covenants of both 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	9 Months Ended
	Dec. 26, 2021
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans During the three months ended December 26, 2021, we recognized an aggregate net benefit of $(293) for employee defined benefit plans compared to an aggregate net benefit of $(23) during the three months ended December 27, 2020. During the nine months ended December 26, 2021, we recognized an aggregate net benefit of $(255) for employee defined benefit plans compared to an aggregate net benefit of $(66) during the nine months ended December 27, 2020. Employer contributions and distributions —We made contributions of $1,300 and required contributions of $7,100 to our pension trust during the nine months ended December 26, 2021 and December 27, 2020, respectively. 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	9 Months Ended
	Dec. 26, 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 prior year beginning in the second quarter of fiscal year 2021. The income tax provisions for the three months ended December 26, 2021 and December 27, 2020 represent effective tax rates of 22.4% and 3.6%, respectively. The increase in the effective tax rate from the prior year quarter is primarily due to the impact of the prior year quarter decrease in the valuation allowance driven by earnings and the release of reserves for uncertain tax positions due to statute expirations in the prior year quarter. The income tax provisions for the nine months ended December 26, 2021 and December 27, 2020 represent effective tax rates of 24.1% and (3.1)%, respectively. The increase in the effective tax rate from the prior year period is primarily due to the impact of the prior year period decrease in the valuation allowance driven by earnings, the benefit of the loss carrybacks which permitted us to realize previously valued tax assets, and the release of reserves for uncertain tax positions due to statute expirations in the prior year period. The effective tax rate for the three and nine months ended December 26, 2021 is reflective of the federal statutory rate of 21% increased by the state taxes and reserves for uncertain tax positions. The effective tax rate for the three and nine months ended December 27, 2020 was lower than the statutory rate because of the decreased valuation allowance, release of reserves for uncertain tax positions due to statute expirations, and benefit of the loss carrybacks. 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 paid, net of refunds, totaled $114,864 and $27,524 for the nine months ended December 26, 2021 and December 27, 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 $40,628. Although the timing and outcome of income tax audit settlements are uncertain, it is reasonably possible that a $3,625 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 $2,908.

Contingencies

Contingencies	9 Months Ended
	Dec. 26, 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 $693 and $696 as of December 26, 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	9 Months Ended
	Dec. 26, 2021
Segment Reporting [Abstract]
Operating Segment Information	Operating Segment Information Our business is comprised of seven operating segments, which have been aggregated into two reportable segments. During the quarter ended December 26, 2021, we made changes in the aggregation of our operating segments to reflect recent business and economic changes. As a result of these changes, our Hunting and Shooting operating segment is now included in our Outdoor Products reportable segment and has been renamed Outdoor Accessories. Our Ammunition operating segment is in its own reportable segment which has been renamed Sporting Products. Previously, similarities in market demand dynamics and distribution channels were the most critical factors used in aggregating our operating segments into reportable segments. As a result, we previously aggregated our Ammunition and Outdoor Accessories (formerly named Hunting and Shooting) operating segment into a single reportable segment, due to similarities in those operating segments’ underlying market demand, distribution channels and economic characteristic at that time. During fiscal year 2022, demand for our products has remained strong, while supply chain, logistics and other factors have affected the key metrics for all other operating segments except Ammunition. These key metrics are used by our CODM, our Chief Executive Officer, in evaluating the performance of our operating segments and in making resource allocation decisions. These factors also impacted the qualitative characteristics that are considered in the aggregation of our operating segments. The operating segments we are now aggregating into our Outdoor Products reportable segment rely primarily on international suppliers to manufacture the products they sell, which is impacting their economic characteristics in a similar manner. These operating segments also share other commonalities or risks, such as technology or intellectual property sharing, common regulated environments, similar input cost risks, and nature of their products. Consumers of the products in these operating segments are typically looking to upgrade or replace their products in a similar time frame. Based on the impact on their economic characteristics discussed above and the shared qualitative characteristics of these operating segments, we are now aggregating our Outdoor Accessories operating segment with our Sports Protection, Outdoor Cooking, Hydration, Golf, and Cycling operating segments into the Outdoor Products reportable segment. Our CODM relies on internal management reporting that analyzes consolidated results to the net income level and our operating segment's EBIT, which is defined as earnings 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 and are not utilized by management in determining segment profitability . Our Sporting Products reportable segment which includes our Ammunition operating segment generated approximately 57% of our external sales in the nine months ended December 26, 2021. Our Outdoor Products reportable segment which includes our Outdoor Accessories (formerly named Hunting and Shooting), Sports Protection, Outdoor Cooking, Hydration, Golf, and Cycling operating segments generated approximately 43% of our external sales in the nine months ended December 26, 2021. No single customer contributed 10% or more of our sales in the nine months ended December 26, 2021 and December 27, 2020. The following tables contain information utilized by management to evaluate our operating segments for the interim periods presented: Three months ended December 26, 2021 Nine months ended December 26, 2021 Sporting Products Outdoor Products (a) Corporate and other reconciling items Total Sporting Products Outdoor Products (a) Corporate and other reconciling items Total Sales, net $ 459,646 $ 335,008 $ — $ 794,654 $ 1,274,127 $ 961,899 $ — $ 2,236,026 Gross Profit 178,062 104,655 (1,247) 281,470 529,659 293,790 (1,631) 821,818 EBIT 149,671 42,277 (33,001) 158,947 449,895 127,946 (84,499) 493,342 Three months ended December 27, 2020 Nine months ended December 27, 2020 (b) Sporting Products (b) Outdoor Products (a) Corporate and other reconciling items Total (b) Sporting Products (b) Outdoor Products (a) Corporate and other reconciling items Total Sales, net $ 287,855 $ 286,824 $ — $ 574,679 $ 821,837 $ 807,161 $ — $ 1,628,998 Gross Profit 79,920 83,712 (400) 163,232 220,280 230,610 (400) 450,490 EBIT 52,661 38,333 (3,546) 87,448 156,793 96,994 (43,040) 210,747 (a) Reconciling items for the three and nine months ended December 26, 2021 included a fair value step-up in inventory allocated from acquisitions of $1,247 and $1,631, respectively, and post-acquisition compensation expense allocated from acquisition of $2,780 and $4,572, respectively. Reconciling items for the three and nine months ended December 27, 2020 included an $18,467 gain on divestiture and $400 in inventory step-up amortization from the Remington acquisition. (b) During the third quarter of fiscal year 2022, we modified and renamed our reportable segments. Accordingly, prior comparative periods have been restated to conform to the change. Sales, net exclude all intercompany sales between Sporting Products and Outdoor Products, which were not material for the three and nine months ended December 26, 2021 and December 27, 2020.

Subsequent Event

Subsequent Event	9 Months Ended
	Dec. 26, 2021
Subsequent Events [Abstract]
Subsequent Event	Subsequent EventSubsequent to quarter end, we completed the acquisition of Stone Glacier, a premium brand focused on ultralightweight, performance hunting gear designed for backcountry use. The addition of Stone Glacier to Vista Outdoor's portfolio of outdoor products and sporting products brands will allow the company to enter the packs, camping equipment, and technical apparel categories with a fast-growing brand and provide a foundation for Vista Outdoor to leverage camping category synergies. The results of this business will be reported within the Outdoor Products reportable segment. The acquisition is not significant to our consolidated financial statements. Due to the timing of the transaction, purchase accounting is incomplete.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Dec. 26, 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 provided that 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. In October 2021, the FASB issued ASU No. 2021-08, “ Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. ” This ASU requires that an entity (acquirer) recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. This update is effective for fiscal years beginning after December 15, 2022. We early adopted ASU 2021-08 during the third quarter of fiscal year 2022, and retroactively applied it to periods beginning on April 1, 2021. The adoption of this standard did not have a material impact to our purchase accounting and our consolidated financial statements and related disclosures.
Change in Reportable Segments	Change in Reportable Segments—during the third quarter of fiscal year 2022, we modified and renamed our reportable segments to provide investors with improved disclosures and reflect how our chief operating decision maker ("CODM"), our Chief Executive Officer, allocates resources and makes decisions. See Note 17, Operating Segment Information, for additional information. Historical amounts have been reclassified in these accompanying notes herewith to conform to the current presentation.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Dec. 26, 2021
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The table below discloses information about carrying values and estimated fair value relating to our financial assets and liabilities: December 26, 2021 March 31, 2021 Carrying Fair Carrying Fair Fixed-rate debt (1) $ 500,000 $ 500,500 $ 500,000 $ 493,750 Variable-rate debt (2) 220,000 220,000 — — (1) 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. (2) The carrying value of the amounts outstanding under our ABL Revolving Credit Facility approximates the fair value because the interest rates are variable and reflective of market rates. The fair value of this debt is categorized within Level 2 of the fair value hierarchy based on the observable market borrowing rates. See Note 13, Long-term Debt, for additional information on our credit facilities, including certain risks and uncertainties.

Leases (Tables)

Leases (Tables)	9 Months Ended
	Dec. 26, 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 December 26, 2021 March 31, 2021 Assets: Operating lease assets Operating lease assets $ 79,412 $ 72,400 Liabilities: Current: Operating lease liabilities Other current liabilities $ 12,193 $ 10,044 Long-term: Operating lease liabilities Long-term operating lease liabilities 82,085 77,375 Total lease liabilities $ 94,278 $ 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. The components of lease expense were as follows: Three months ended Nine months ended December 26, 2021 December 27, 2020 December 26, 2021 December 27, 2020 Fixed operating lease costs (1) $ 5,795 $ 5,593 $ 16,297 $ 15,704 Variable operating lease costs 701 806 2,284 2,047 Operating and sub-lease income (180) (67) (331) (732) Net Lease costs $ 6,316 $ 6,332 $ 18,250 $ 17,019 (1) Includes short-term leases December 26, 2021 March 31, 2021 Weighted Average Remaining Lease Term (Years): Operating leases 8.62 9.32 Weighted Average Discount Rate: Operating leases 8.12 % 8.64 % Supplemental cash flow information related to leases is as follows: Nine months ended December 26, 2021 December 27, 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows - operating leases $ 14,054 $ 13,077 Operating lease assets obtained in exchange for lease liabilities: Operating leases 13,472 11,487
Schedule of future minimum lease payments	The approximate minimum lease payments under non-cancelable operating leases as of December 26, 2021 are as follows: Remainder of fiscal year 2022 $ 4,882 Fiscal year 2023 18,642 Fiscal year 2024 16,358 Fiscal year 2025 15,158 Fiscal year 2026 13,724 Thereafter 65,871 Total lease payments 134,635 Less imputed interest (40,357) Present value of lease liabilities $ 94,278

Acquisition and Divestitures (T

Acquisition and Divestitures (Tables)	9 Months Ended
	Dec. 26, 2021
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	Foresight preliminary purchase price allocation: September 28, 2021 Total consideration transferred $ 470,622 470,622 Fair value of assets acquired: Accounts receivable $ 2,806 Inventories 10,780 Intangible assets 131,500 Property, plant, and equipment 1,870 Operating lease assets 6,506 Other long-term assets 2,006 Total assets 155,468 Fair value of liabilities assumed: Accounts payable 6,177 Customer deposits 2,084 Long-term operating lease liabilities 5,961 Contract liabilities 2,992 Other liabilities 1,646 Other long-term liabilities 9,182 Total liabilities 28,042 Net assets acquired 127,426 Goodwill $ 343,196 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 Finite-Lived Intangible Assets Acquired as Part of Business Combination	Foresight intangible assets above include: Value Useful life (years) Tradenames $ 42,500 20 Patented technology 19,900 5 to 10 Customer Relationships 69,100 5 to 15
Schedule of Pro Forma Financial Information	The following unaudited pro forma financial information presents our results as if the Foresight acquisition had occurred on April 1, 2020: Three months ended Nine months ended December 26, 2021 December 27, 2020 December 26, 2021 December 27, 2020 Sales, net $ 794,654 $ 596,973 $ 2,279,625 $ 1,676,361 Net income 120,415 84,065 368,725 197,854
Schedule of Pro Forma Information Including Significant Non-recurring Adjustments	The unaudited supplemental pro forma data above includes the following significant non-recurring adjustments to net income to account for certain costs which would have been incurred if the Foresight acquisition had been completed on April 1, 2020: Three months ended Nine months ended December 26, 2021 December 27, 2020 December 26, 2021 December 27, 2020 Fees for advisory, legal, and accounting services (1) $ (1,030) $ — $ (3,089) $ 3,089 Inventory step-up, net (2) (1,247) — (1,247) $1,247 Interest (3) — 1,223 2,203 5,320 Depreciation (4) — 165 331 469 Amortization (5) — 2,313 4,626 6,939 Income tax provision (6) — 2,807 3,520 3,750 (1) During the nine months ended December 26, 2021, we incurred a total of $3,089 in acquisition related costs, including legal and other professional fees, related to the acquisition, all of which were reported in selling, general, and administrative expense in the condensed consolidated statements of comprehensive income. This adjustment is to show the results as if those fees were incurred during the first quarter of fiscal 2021. (2) Adjustment reflects the increased cost of goods sold expense resulting from the fair value step-up in inventory which was expensed in full during the quarter. (3) Adjustment to reflect an increase in interest expense resulting from assumed advances to complete the transaction on our 2018 New Credit Facilities prior to March 31, 2021 and our 2021 ABL Revolving Credit Facility after March 31, 2021. (4) Adjustment for depreciation related to the revised fair-value basis of the acquired property, plant and equipment and change in estimated useful lives. (5) Adjustment for amortization of acquired intangible assets. (6) Income tax effect of the adjustments made at a blended federal and state statutory rate including the impact of the valuation allowance.
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination	Remington 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)	9 Months Ended
	Dec. 26, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables disaggregate our net sales by major product category: Three months ended December 26, 2021 December 27, 2020 Sporting Products Outdoor Products Total Sporting Products Outdoor Products Total Sporting Products (1) $ 459,646 $ — $ 459,646 $ 287,855 $ — $ 287,855 Outdoor Accessories (2) — 119,345 119,345 — 113,662 113,662 Action Sports (3) — 98,714 98,714 — 88,907 88,907 Outdoor Recreation (4) — 116,949 116,949 — 84,255 84,255 Total $ 459,646 $ 335,008 $ 794,654 $ 287,855 $ 286,824 $ 574,679 Geographic Region: United States $ 434,326 $ 250,725 $ 685,051 $ 267,186 $ 229,101 $ 496,287 Rest of the World 25,320 84,283 109,603 20,669 57,723 78,392 Total $ 459,646 $ 335,008 $ 794,654 $ 287,855 $ 286,824 $ 574,679 Nine months ended December 26, 2021 December 27, 2020 Sporting Products Outdoor Products Total Sporting Products Outdoor Products Total Sporting Products (1) $ 1,274,127 $ — $ 1,274,127 $ 821,837 $ — $ 821,837 Outdoor Accessories (2) — 334,533 334,533 — 293,525 293,525 Action Sports (3) — 295,501 295,501 — 259,213 259,213 Outdoor Recreation (4) — 331,865 331,865 — 254,423 254,423 Total $ 1,274,127 $ 961,899 $ 2,236,026 $ 821,837 $ 807,161 $ 1,628,998 Geographic Region: United States $ 1,196,309 $ 723,902 $ 1,920,211 $ 768,457 $ 654,758 $ 1,423,215 Rest of the World 77,818 237,997 315,815 53,380 152,403 205,783 Total $ 1,274,127 $ 961,899 $ 2,236,026 $ 821,837 $ 807,161 $ 1,628,998 (1) Sporting Products includes the Ammunition operating segment. (2) Outdoor Accessories includes the Outdoor Accessories (formerly named Hunting and Shooting) operating segment. (3) Action Sports includes the operating segments: Sports Protection and Cycling. (4) Outdoor Recreation includes the operating segments: Hydration, Outdoor Cooking, and Golf.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Dec. 26, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	In computing EPS for the periods presented, earnings, as reported for each respective period, is divided by the number of shares below: Three months ended Nine months ended (Amounts in thousands except per share data) December 26, 2021 December 27, 2020 December 26, 2021 December 27, 2020 Numerator: Net income $ 118,137 $ 78,879 $ 360,402 $ 199,000 Denominator: Weighted-average number of common shares outstanding basic: 57,162 58,303 57,540 58,183 Dilutive effect of share-based awards (1) 1,904 1,798 1,864 1,411 Diluted shares 59,066 60,101 59,404 59,594 Earnings per common share: Basic $ 2.07 $ 1.35 $ 6.26 $ 3.42 Diluted $ 2.00 $ 1.31 $ 6.07 $ 3.34 (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

Receivables (Tables)

Receivables (Tables)	9 Months Ended
	Dec. 26, 2021
Receivables [Abstract]
Schedule of accounts, notes, loans and financing receivable	Net receivables are summarized as follows: December 26, 2021 March 31, 2021 Trade receivables $ 391,727 $ 307,098 Other receivables 7,989 7,899 Less: allowance for estimated credit losses and discounts (15,452) (13,422) Net receivables $ 384,264 $ 301,575 Note Receivable is summarized as follows: December 26, 2021 March 31, 2021 Principal $ 12,000 $ 12,000 Less: unamortized discount (2,533) (3,189) Note receivable, net, included within Deferred charges and other non-current assets $ 9,467 $ 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 nine months ended December 26, 2021: Balance, March 31, 2021 $ 13,422 Provision for credit losses 2,105 Write-off of uncollectible amounts, net of recoveries (751) Other adjustments 676 Balance, December 26, 2021 $ 15,452

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Dec. 26, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory, Current	Current net inventories consist of the following: December 26, 2021 March 31, 2021 Raw materials $ 181,157 $ 133,970 Work in process 59,590 47,829 Finished goods 358,480 272,705 Net inventories $ 599,227 $ 454,504

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (AOCL) (Tables)	9 Months Ended
	Dec. 26, 2021
Equity [Abstract]
Schedule of components of AOCL, net of income taxes	The components of AOCL, net of income taxes, are as follows: December 26, 2021 March 31, 2021 Derivatives $ (314) $ 161 Pension and other postretirement benefits liabilities (76,247) (78,166) Cumulative translation adjustment (5,436) (5,190) Total AOCL $ (81,997) $ (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 December 26, 2021 Nine months ended December 26, 2021 Derivatives Pension and other postretirement benefits liabilities Cumulative translation adjustment Total Derivatives Pension and other postretirement benefits liabilities Cumulative translation adjustment Total Beginning balance in AOCL $ (212) $ (76,734) $ (5,321) $ (82,267) $ 161 $ (78,166) $ (5,190) $ (83,195) Change in fair value of derivatives 298 — — 298 1,065 — — 1,065 Net gains reclassified from AOCL (400) — — (400) (1,540) — — (1,540) Net actuarial losses reclassified from AOCL (1) — 1,072 — 1,072 — 2,671 — 2,671 Prior service costs reclassified from AOCL (1) — (585) — (585) — (752) — (752) Net change in cumulative translation adjustment — — (115) (115) — — (246) (246) Ending balance in AOCL $ (314) $ (76,247) $ (5,436) $ (81,997) $ (314) $ (76,247) $ (5,436) $ (81,997) (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 December 27, 2020 Nine months ended December 27, 2020 Derivatives Pension and other postretirement benefits liabilities Cumulative translation adjustment Total Derivatives Pension and other postretirement benefits liabilities Cumulative translation adjustment Total Beginning balance in AOCL $ 248 $ (91,572) $ (5,706) $ (97,030) $ (1,426) $ (93,353) $ (6,215) $ (100,994) Change in fair value of derivatives 1,220 — — 1,220 1,813 — — 1,813 Net (gains) losses reclassified from AOCL (69) — — (69) 1,012 — — 1,012 Net actuarial losses reclassified from AOCL (1) — 969 — 969 — 2,907 — 2,907 Prior service costs reclassified from AOCL (1) — (78) — (78) — (235) — (235) Net change in cumulative translation adjustment — — 375 375 — — 884 884 Ending balance in AOCL $ 1,399 $ (90,681) $ (5,331) $ (94,613) $ 1,399 $ (90,681) $ (5,331) $ (94,613) (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)	9 Months Ended
	Dec. 26, 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 reportable segment were as follows: Sporting Products Outdoor Products Total Balance, March 31, 2021 $ 86,082 $ — $ 86,082 Acquisitions 23 380,759 380,782 Balance, December 26, 2021 $ 86,105 $ 380,759 $ 466,864
Schedule of net intangibles	Intangible assets by major asset class consisted of the following: December 26, 2021 March 31, 2021 Gross Accumulated Total Gross Accumulated Total Trade names $ 106,889 $ (21,962) $ 84,927 $ 49,560 $ (18,174) $ 31,386 Patented technology 36,854 (12,545) 24,309 16,954 (11,354) 5,600 Customer relationships and other 323,480 (111,931) 211,549 241,306 (98,939) 142,367 Total 467,223 (146,438) 320,785 307,820 (128,467) 179,353 Non-amortizing trade names 135,602 — 135,602 135,602 — 135,602 Net intangible assets $ 602,825 $ (146,438) $ 456,387 $ 443,422 $ (128,467) $ 314,955
Schedule of net intangibles	Intangible assets by major asset class consisted of the following: December 26, 2021 March 31, 2021 Gross Accumulated Total Gross Accumulated Total Trade names $ 106,889 $ (21,962) $ 84,927 $ 49,560 $ (18,174) $ 31,386 Patented technology 36,854 (12,545) 24,309 16,954 (11,354) 5,600 Customer relationships and other 323,480 (111,931) 211,549 241,306 (98,939) 142,367 Total 467,223 (146,438) 320,785 307,820 (128,467) 179,353 Non-amortizing trade names 135,602 — 135,602 135,602 — 135,602 Net intangible assets $ 602,825 $ (146,438) $ 456,387 $ 443,422 $ (128,467) $ 314,955
Schedule of expected future amortization expense	As of December 26, 2021, we expect amortization expense related to these assets to be as follows: Remainder of fiscal year 2022 $ 8,068 Fiscal year 2023 31,326 Fiscal year 2024 31,273 Fiscal year 2025 31,255 Fiscal year 2026 28,246 Thereafter 190,617 Total $ 320,785

Other Current and Non-current_2

Other Current and Non-current Liabilities (Tables)	9 Months Ended
	Dec. 26, 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: December 26, 2021 March 31, 2021 Accrual for in-transit inventory $ 19,567 $ 24,356 Other 131,357 96,212 Total other current liabilities $ 150,924 $ 120,568 Long-term portion of accrued income tax liability $ 26,420 $ 23,000 Other 49,966 19,448 Total other non-current liabilities $ 76,386 $ 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 (2,916) Warranties issued 3,182 Changes related to pre-existing warranties and other adjustments 178 Balance, December 26, 2021 $ 9,140

Long-term Debt (Tables)

Long-term Debt (Tables)	9 Months Ended
	Dec. 26, 2021
Debt Disclosure [Abstract]
Schedule of long-term debt	Long-term debt consisted of the following: December 26, 2021 March 31, 2021 2021 ABL Revolving Credit Facility $ 220,000 $ — 4.5% Senior Notes 500,000 500,000 Less: unamortized deferred financing costs (4,019) (4,436) Carrying amount of long-term debt $ 715,981 $ 495,564

Operating Segment Information (

Operating Segment Information (Tables)	9 Months Ended
	Dec. 26, 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 December 26, 2021 Nine months ended December 26, 2021 Sporting Products Outdoor Products (a) Corporate and other reconciling items Total Sporting Products Outdoor Products (a) Corporate and other reconciling items Total Sales, net $ 459,646 $ 335,008 $ — $ 794,654 $ 1,274,127 $ 961,899 $ — $ 2,236,026 Gross Profit 178,062 104,655 (1,247) 281,470 529,659 293,790 (1,631) 821,818 EBIT 149,671 42,277 (33,001) 158,947 449,895 127,946 (84,499) 493,342 Three months ended December 27, 2020 Nine months ended December 27, 2020 (b) Sporting Products (b) Outdoor Products (a) Corporate and other reconciling items Total (b) Sporting Products (b) Outdoor Products (a) Corporate and other reconciling items Total Sales, net $ 287,855 $ 286,824 $ — $ 574,679 $ 821,837 $ 807,161 $ — $ 1,628,998 Gross Profit 79,920 83,712 (400) 163,232 220,280 230,610 (400) 450,490 EBIT 52,661 38,333 (3,546) 87,448 156,793 96,994 (43,040) 210,747 (a) Reconciling items for the three and nine months ended December 26, 2021 included a fair value step-up in inventory allocated from acquisitions of $1,247 and $1,631, respectively, and post-acquisition compensation expense allocated from acquisition of $2,780 and $4,572, respectively. Reconciling items for the three and nine months ended December 27, 2020 included an $18,467 gain on divestiture and $400 in inventory step-up amortization from the Remington acquisition.

Significant Accounting Polici_3

Significant Accounting Policies (Details)	9 Months Ended
	Dec. 26, 2021reportable_segmentfacility
Accounting Policies [Abstract]
Number of reportable segments | reportable_segment	2
Number of manufacturing and distribution facilities | facility	23

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($)	Jul. 05, 2019	Dec. 26, 2021	Jun. 27, 2021	Mar. 31, 2021
Fair value of assets and liabilities
Receivable with imputed interest, face amount	$ 12,000,000	$ 12,000,000		$ 12,000,000
Note receivable with imputed interest, term of contract	5 years
Long-term debt		715,981,000		495,564,000
QuietKat
Fair value of assets and liabilities
Business combination, contingent consideration, liability		23,134,000	$ 22,400,000
Fiber
Fair value of assets and liabilities
Business combination, contingent consideration, liability		3,625,000
Senior Notes, 4.5% | Carrying amount
Fair value of assets and liabilities
Fixed-rate debt		500,000,000		500,000,000
Senior Notes, 4.5%
Fair value of assets and liabilities
Long-term debt				$ 500,000,000
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		500,500,000		$ 493,750,000
Fair value of assets and liabilities that are measured on a recurring basis | ABL Revolving Credit Facility, 2021 | Carrying amount
Fair value of assets and liabilities
Variable-rate debt		220,000,000		0
Fair value of assets and liabilities that are measured on a recurring basis | ABL Revolving Credit Facility, 2021 | Fair value
Fair value of assets and liabilities
Variable-rate debt		$ 220,000,000		$ 0

Leases - Narrative (Details)

Leases - Narrative (Details)	Dec. 26, 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	Dec. 26, 2021	Mar. 31, 2021
Leases [Abstract]
Operating lease assets	$ 79,412	$ 72,400
Operating lease liabilities	12,193	10,044
Operating lease liabilities	82,085	77,375
Total lease liabilities	$ 94,278	$ 87,419

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2021	Dec. 27, 2020	Dec. 26, 2021	Dec. 27, 2020	Mar. 31, 2021
Leases [Abstract]
Fixed operating lease costs	$ 5,795	$ 5,593	$ 16,297	$ 15,704
Variable operating lease costs	701	806	2,284	2,047
Operating and sub-lease income	180	67	331	732
Net Lease costs	$ 6,316	$ 6,332	$ 18,250	$ 17,019
Weighted Average Remaining Lease Term (Years):	8 years 7 months 13 days		8 years 7 months 13 days		9 years 3 months 25 days
Weighted Average Discount Rate:	8.12%		8.12%		8.64%

Leases - Future Minimum Lease P

Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Dec. 26, 2021	Mar. 31, 2021
Leases [Abstract]
Remainder of fiscal year 2022	$ 4,882
Fiscal year 2023	18,642
Fiscal year 2024	16,358
Fiscal year 2025	15,158
Fiscal year 2026	13,724
Thereafter	65,871
Total lease payments	134,635
Less imputed interest	(40,357)
Present value of lease liabilities	$ 94,278	$ 87,419

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 26, 2021	Dec. 27, 2020
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities:	$ 14,054	$ 13,077
Operating lease assets obtained in exchange for lease liabilities:	$ 13,472	$ 11,487

Acquisitions and Divestitures -

Acquisitions and Divestitures - Narrative (Details) - USD ($) $ in Thousands	Sep. 28, 2021	Dec. 26, 2021	Jun. 27, 2021
Fiber
Business Acquisition [Line Items]
Business combination, contingent consideration, liability		$ 3,625
Foresight Sports
Business Acquisition [Line Items]
Business combination, consideration transferred	$ 470,622
Business combination, pro forma information, revenue of acquiree since acquisition date		28,586
Business combination, pro forma information, net income of acquiree since acquisition date		8,880
Foresight Sports | Employee Retention Payments
Business Acquisition [Line Items]
Business combination, separately recognized transactions, post combination compensation expense	5,599
Foresight Sports | Contingent Payments Related To Net Sales Targets Being Met
Business Acquisition [Line Items]
Business combination, separately recognized transactions, post combination compensation expense	$ 25,000
QuietKat
Business Acquisition [Line Items]
Business combination, contingent consideration, liability		$ 23,134	$ 22,400
Other payments to acquire businesses			$ 13,000
Business acquisition, milestone payment period (in years)			3 years

Acquisitions and Divestitures_2

Acquisitions and Divestitures - Purchase Price Allocation (Details) - USD ($) $ in Thousands	Sep. 28, 2021	Oct. 12, 2020	Dec. 26, 2021	Mar. 31, 2021
Total purchase price:
Goodwill			$ 466,864	$ 86,082
Foresight Sports
Business Acquisition [Line Items]
Total consideration transferred	$ 470,622
Total purchase price:
Accounts receivable	2,806
Inventories	10,780
Intangible assets	131,500
Property, plant, and equipment	1,870
Operating lease assets	6,506
Other long-term assets	2,006
Total assets	155,468
Accounts payable	6,177
Customer deposits	2,084
Long-term operating lease liabilities	5,961
Contract liabilities	2,992
Other liabilities	1,646
Other long-term liabilities	9,182
Total liabilities	28,042
Net assets acquired	127,426
Goodwill	$ 343,196
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) - USD ($) $ in Thousands	Sep. 28, 2021	Oct. 12, 2020
Trade names | Foresight Sports
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 42,500
Acquired finite-lived intangible assets, weighted average useful life (in years)	20 years
Patented technology | Foresight Sports
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 19,900
Patented technology | Foresight Sports | Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, weighted average useful life (in years)	5 years
Patented technology | Foresight Sports | Maximum
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, weighted average useful life (in years)	10 years
Customer relationships | Foresight Sports
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired	$ 69,100
Customer relationships | Foresight Sports | Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, weighted average useful life (in years)	5 years
Customer relationships | Foresight Sports | Maximum
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired finite-lived intangible assets, weighted average useful life (in years)	15 years
Customer relationships | Remington Outdoor Company, Inc.
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired		$ 1,700
Acquired finite-lived intangible assets, weighted average useful life (in years)		20 years
Trade names | Remington Outdoor Company, Inc.
Acquired Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets acquired		$ 24,500

Acquisitions and Divestitures_4

Acquisitions and Divestitures - Supplemental Pro Forma Data (Details) - Foresight Sports - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2021	Dec. 27, 2020	Dec. 26, 2021	Dec. 27, 2020
Business Acquisition [Line Items]
Sales, net	$ 794,654	$ 596,973	$ 2,279,625	$ 1,676,361
Net income	$ 120,415	$ 84,065	$ 368,725	$ 197,854

Acquisitions and Divestitures_5

Acquisitions and Divestitures - Significant Nonrecurring Adjustments to Net Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2021	Dec. 27, 2020	Dec. 26, 2021	Dec. 27, 2020
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Interest	$ 6,695	$ 5,619	$ 18,302	$ 17,752
Depreciation			33,980	33,625
Income tax provision	34,115	2,950	114,638	(6,005)
Foresight Sports
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Fees for advisory, legal, and accounting services			3,089
Foresight Sports | Acquisition-related Costs
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Fees for advisory, legal, and accounting services	(1,030)	0	(3,089)	3,089
Inventory step-up, net	(1,247)	0	(1,247)	1,247
Interest	0	1,223	2,203	5,320
Depreciation	0	165	331	469
Amortization	0	2,313	4,626	6,939
Income tax provision	$ 0	$ 2,807	$ 3,520	$ 3,750

Acquisitions and Divestitures_6

Acquisitions and Divestitures - Divestiture of Business (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2021	Dec. 27, 2020	Dec. 26, 2021	Dec. 27, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on divestiture of business	$ 0	$ 18,467	$ 0	$ 18,467
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	9 Months Ended
	Dec. 26, 2021lb
Lead Forward Contract
Derivative [Line Items]
Derivative, notional amount, mass	2,900

Revenue Recognition (Details)

Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2021	Dec. 27, 2020	Dec. 26, 2021	Dec. 27, 2020
Disaggregation of Revenue [Line Items]
Sales, net	$ 794,654	$ 574,679	$ 2,236,026	$ 1,628,998
Minimum
Disaggregation of Revenue [Line Items]
Contract with customer, payment terms (in days)			30 days
Maximum
Disaggregation of Revenue [Line Items]
Contract with customer, payment terms (in days)			60 days
United States
Disaggregation of Revenue [Line Items]
Sales, net	685,051	496,287	$ 1,920,211	1,423,215
Rest of the World
Disaggregation of Revenue [Line Items]
Sales, net	109,603	78,392	315,815	205,783
Sporting Products
Disaggregation of Revenue [Line Items]
Sales, net	459,646	287,855	1,274,127	821,837
Outdoor Accessories
Disaggregation of Revenue [Line Items]
Sales, net	119,345	113,662	334,533	293,525
Action Sports
Disaggregation of Revenue [Line Items]
Sales, net	98,714	88,907	295,501	259,213
Outdoor Recreation
Disaggregation of Revenue [Line Items]
Sales, net	116,949	84,255	331,865	254,423
Sporting Products
Disaggregation of Revenue [Line Items]
Sales, net	459,646	287,855	1,274,127	821,837
Sporting Products | United States
Disaggregation of Revenue [Line Items]
Sales, net	434,326	267,186	1,196,309	768,457
Sporting Products | Rest of the World
Disaggregation of Revenue [Line Items]
Sales, net	25,320	20,669	77,818	53,380
Sporting Products | Sporting Products
Disaggregation of Revenue [Line Items]
Sales, net	459,646	287,855	1,274,127	821,837
Outdoor Products
Disaggregation of Revenue [Line Items]
Sales, net	335,008	286,824	961,899	807,161
Outdoor Products | United States
Disaggregation of Revenue [Line Items]
Sales, net	250,725	229,101	723,902	654,758
Outdoor Products | Rest of the World
Disaggregation of Revenue [Line Items]
Sales, net	84,283	57,723	237,997	152,403
Outdoor Products | Outdoor Accessories
Disaggregation of Revenue [Line Items]
Sales, net	119,345	113,662	334,533	293,525
Outdoor Products | Action Sports
Disaggregation of Revenue [Line Items]
Sales, net	98,714	88,907	295,501	259,213
Outdoor Products | Outdoor Recreation
Disaggregation of Revenue [Line Items]
Sales, net	$ 116,949	$ 84,255	$ 331,865	$ 254,423

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2021	Dec. 27, 2020	Dec. 26, 2021	Dec. 27, 2020
Earnings Per Share [Abstract]
Net income	$ 118,137	$ 78,879	$ 360,402	$ 199,000
Basic EPS shares outstanding (in shares)	57,162	58,303	57,540	58,183
Dilutive effect of stock-based awards (in shares)	1,904	1,798	1,864	1,411
Diluted EPS shares outstanding (in shares)	59,066	60,101	59,404	59,594
Basic (in dollars per share)	$ 2.07	$ 1.35	$ 6.26	$ 3.42
Diluted (in dollars per share)	$ 2	$ 1.31	$ 6.07	$ 3.34
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	22	0	296

Receivables (Details)

Receivables (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Dec. 26, 2021	Jul. 05, 2019
Receivables [Abstract]
Trade receivables	$ 307,098	$ 391,727
Other receivables	7,899	7,989
Less: allowance for estimated credit losses and discounts	(13,422)	(15,452)
Net receivables	301,575	384,264
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	(3,189)	(2,533)
Receivable with Imputed Interest, Net Amount	$ 8,811	$ 9,467
Walmart | Accounts Receivable | Credit Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage	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	9 Months Ended
	Dec. 26, 2021USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 13,422
Provision for credit losses	2,105
Write-off of uncollectible amounts, net of recoveries	(751)
Other adjustments	676
Balance at end of period	$ 15,452

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Dec. 26, 2021	Mar. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 181,157	$ 133,970
Work in process	59,590	47,829
Finished goods	358,480	272,705
Net inventories	599,227	454,504
Long-term inventories	$ 13,801	$ 12,226

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss (AOCL) (Components of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands	Dec. 26, 2021	Sep. 26, 2021	Mar. 31, 2021	Dec. 27, 2020	Sep. 27, 2020	Mar. 31, 2020
Equity [Abstract]
Derivatives	$ (314)		$ 161
Pension and other postretirement benefits liabilities	(76,247)		(78,166)
Cumulative translation adjustment	(5,436)		(5,190)
Total AOCL	$ (81,997)	$ (82,267)	$ (83,195)	$ (94,613)	$ (97,030)	$ (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		9 Months Ended
	Dec. 26, 2021	Dec. 27, 2020	Dec. 26, 2021	Dec. 27, 2020
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Derivatives, beginning balance	$ (212)	$ 248	$ 161	$ (1,426)
Pension and other postretirement benefits liabilities, beginning balance			(78,166)
Cumulative translation adjustment, beginning balance			(5,190)
AOCL, Total, beginning balance	(82,267)	(97,030)	(83,195)	(100,994)
Change in fair value of derivatives	298	1,220	1,065	1,813
Net (gains) losses reclassified from AOCL	(400)	(69)	(1,540)	1,012
Net actuarial losses reclassified from AOCL	1,072	969	2,671	2,907
Prior service costs reclassified from AOCL	(585)	(78)	(752)	(235)
Net change in cumulative translation adjustment	(115)	375	(246)	884
Derivatives, ending balance	(314)	1,399	(314)	1,399
Pension and other postretirement benefits liabilities, ending balance	(76,247)		(76,247)
Cumulative translation adjustment, ending balance	(5,436)		(5,436)
AOCL, Total, ending balance	(81,997)	(94,613)	(81,997)	(94,613)
Pension and Other Postretirement Benefits Adjustments
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Pension and other postretirement benefits liabilities, beginning balance	(76,734)	(91,572)	(78,166)	(93,353)
Pension and other postretirement benefits liabilities, ending balance	(76,247)	(90,681)	(76,247)	(90,681)
Cumulative Translation Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Cumulative translation adjustment, beginning balance	(5,321)	(5,706)	(5,190)	(6,215)
Cumulative translation adjustment, ending balance	(5,436)	(5,331)	(5,436)	(5,331)
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Change in fair value of derivatives	298	1,220	1,065	1,813
Net (gains) losses reclassified from AOCL	(400)	(69)	(1,540)	1,012
Net actuarial losses reclassified from AOCL	1,072	969	2,671	2,907
Prior service costs reclassified from AOCL	(585)	(78)	(752)	(235)
Net change in cumulative translation adjustment	$ (115)	$ 375	$ (246)	$ 884

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2021	Dec. 27, 2020	Dec. 26, 2021	Dec. 27, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense	$ 7,614	$ 4,946	$ 18,031	$ 14,845

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets (Goodwill Rollforward) (Details) $ in Thousands	9 Months Ended
	Dec. 26, 2021USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 86,082
Acquisitions	380,782
Goodwill, ending balance	466,864
Sporting Products
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	380,759
Goodwill, ending balance	$ 380,759

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets (Schedule of Net Intangible Assets) (Details) - USD ($) $ in Thousands	Dec. 26, 2021	Mar. 31, 2021
Amortizing assets
Gross carrying amount	$ 467,223	$ 307,820
Accumulated amortization	(146,438)	(128,467)
Total	320,785	179,353
Intangible assets, gross	602,825	443,422
Net intangible assets	456,387	314,955
Trade names
Amortizing assets
Non-amortizing trade names	135,602	135,602
Trade names
Amortizing assets
Gross carrying amount	106,889	49,560
Accumulated amortization	(21,962)	(18,174)
Total	84,927	31,386
Patented technology
Amortizing assets
Gross carrying amount	36,854	16,954
Accumulated amortization	(12,545)	(11,354)
Total	24,309	5,600
Customer relationships and other
Amortizing assets
Gross carrying amount	323,480	241,306
Accumulated amortization	(111,931)	(98,939)
Total	$ 211,549	$ 142,367

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets (Future Amortization Expense) (Details) - USD ($) $ in Thousands	Dec. 26, 2021	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of fiscal year 2022	$ 8,068
Fiscal year 2023	31,326
Fiscal year 2024	31,273
Fiscal year 2025	31,255
Fiscal year 2026	28,246
Thereafter	190,617
Total	$ 320,785	$ 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	Dec. 26, 2021	Mar. 31, 2021
Other Liabilities Disclosure [Abstract]
Accrual for in-transit inventory	$ 19,567	$ 24,356
Other	131,357	96,212
Total other current liabilities	150,924	120,568
Long-term portion of accrued income tax liability	26,420	23,000
Other	49,966	19,448
Total other non-current liabilities	$ 76,386	$ 42,448

Other Current and Non-current_4

Other Current and Non-current Liabilities (Narrative) (Details)	9 Months Ended
	Dec. 26, 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	9 Months Ended
	Dec. 26, 2021USD ($)
Movement in Standard and Extended Product Warranty Accrual, Increase (Decrease) [Roll Forward]
Balance, March 31, 2021	$ 8,696
Payments made	(2,916)
Warranties issued	3,182
Changes related to pre-existing warranties and other adjustments	178
Balance, December 26, 2021	$ 9,140

Long-term Debt (Components of L

Long-term Debt (Components of Long-term Debt) (Details) - USD ($) $ in Thousands	Dec. 26, 2021	Mar. 31, 2021
Long-Term Debt
Less: unamortized deferred financing costs	$ (4,019)	$ (4,436)
Carrying amount of long-term debt	715,981	495,564
Line of Credit | ABL Revolving Credit Facility, 2021 | Revolving Credit Facility
Long-Term Debt
Long-term debt, gross	220,000	0
Senior Notes | Senior Notes, 4.5%
Long-Term Debt
Long-term debt, gross	$ 500,000	$ 500,000

Long-term Debt (Narrative - Cre

Long-term Debt (Narrative - Credit Agreement) (Details) - USD ($)	9 Months Ended
	Dec. 26, 2021	Mar. 31, 2021	Nov. 19, 2018
Guarantor Subsidiaries
Long-Term Debt
Subsidiaries owned, percentage	100.00%
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, 4.5%
Long-Term Debt
Interest rate, stated percentage		4.50%
Deferred finance costs gross, accordion feature	$ 4,481,000
Amortization of debt issuance costs, period (in years)	8 years
Bottom threshold of guarantee	$ 75,000,000
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 One
Long-Term Debt
Percentage of principal amount redeemed	100.00%
Senior Notes | Senior Notes, 4.5% | Debt Instrument, Redemption, Period Two
Long-Term Debt
Percentage of principal amount redeemable	0.40
Percentage of principal amount redeemable, period two	104.50%
Revolving Credit Facility | Line of Credit | ABL Revolving Credit Facility, 2021
Long-Term Debt
Face amount			$ 450,000,000
Principal amount of long-term debt	$ 220,000,000	0
Letters of credit outstanding, amount	16,791,000
Line of credit facility, current borrowing capacity	45,000,000	42,500,000
Line of credit facility, remaining borrowing capacity	$ 168,209,000
Annual commitment fee on the unused portion (as a percent)	0.175%
Deferred finance costs gross, accordion feature	$ 6,004,000
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		9 Months Ended
	Dec. 26, 2021	Dec. 27, 2020	Dec. 26, 2021	Dec. 27, 2020
Debt Disclosure [Abstract]
Interest paid, including capitalized interest	$ 792	$ 10,579	$ 12,992	$ 18,535

Employee Benefit Plans (Details

Employee Benefit Plans (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 26, 2021	Dec. 27, 2020	Dec. 26, 2021	Dec. 27, 2020
Defined Benefit Plans
Defined benefit plan, net periodic benefit	$ (293,000)	$ (23,000)	$ (255,000)	$ (66,000)
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		0
Supplemental Employee Retirement Plan
Defined Benefit Plans
Required and expected contributions by employer for remainder of fiscal year	$ 0		0
Distributions by employer			$ 0	$ 0

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2021	Dec. 27, 2020	Dec. 26, 2021	Dec. 27, 2020	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income tax provision (as a percent)	22.40%	3.60%	24.10%	(3.10%)
Effective income tax rate reconciliation, at federal statutory income tax rate, percent	21.00%		21.00%
Income taxes paid, net			$ 114,864	$ 27,524
Income taxes receivable	$ 42,193		42,193
Income tax receivable, current	40,628		40,628		$ 37,870
Potential reduction of uncertain tax benefits over the next 12 months from audit settlements	3,625		3,625
Minimum
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Unrecognized tax benefits that would impact effective tax rate	0		0
Maximum
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Unrecognized tax benefits that would impact effective tax rate	$ 2,908		$ 2,908

Contingencies (Details)

Contingencies (Details) - USD ($) $ in Thousands	Dec. 26, 2021	Mar. 31, 2021
Loss Contingency [Abstract]
Accrual for environmental loss contingencies	$ 693	$ 696

Operating Segment Information_2

Operating Segment Information (Narrative) (Details)	9 Months Ended
	Dec. 26, 2021operating_segmentreportable_segment
Revenue, Major Customer [Line Items]
Number of operating segments | operating_segment	7
Number of reportable segments | reportable_segment	2
Sporting Products
Revenue, Major Customer [Line Items]
Revenues from external customers, percentage	57.00%
Outdoor Products
Revenue, Major Customer [Line Items]
Revenues from external customers, percentage	43.00%

Operating Segment Information_3

Operating Segment Information (Schedule of Results by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2021	Dec. 27, 2020	Dec. 26, 2021	Dec. 27, 2020
Segment Reporting Information [Line Items]
Sales, net	$ 794,654	$ 574,679	$ 2,236,026	$ 1,628,998
Gross profit	281,470	163,232	821,818	450,490
EBIT	158,947	87,448	493,342	210,747
Gain (loss) on divestiture of business	0	18,467	0	18,467
Corporate and other reconciling items
Segment Reporting Information [Line Items]
Sales, net	0	0	0	0
Gross profit	(1,247)	(400)	(1,631)	(400)
EBIT	(33,001)	(3,546)	(84,499)	(43,040)
Business Combination, Separately Recognized Transactions, Post Combination Compensation Expense	(2,780)		(4,572)
Corporate and other reconciling items | Remington Outdoor Company, Inc.
Segment Reporting Information [Line Items]
Gain (loss) on divestiture of business		18,467		18,467
Corporate and other reconciling items | Inventory step-up, net
Segment Reporting Information [Line Items]
Inventory Step-Up, Net	(1,247)		(1,631)
Corporate and other reconciling items | Inventory step-up, net | Remington Outdoor Company, Inc.
Segment Reporting Information [Line Items]
Inventory Step-Up, Net		(400)		(400)
Sporting Products
Segment Reporting Information [Line Items]
Sales, net	459,646	287,855	1,274,127	821,837
Sporting Products | Operating Segments
Segment Reporting Information [Line Items]
Sales, net	459,646	287,855	1,274,127	821,837
Gross profit	178,062	79,920	529,659	220,280
EBIT	149,671	52,661	449,895	156,793
Outdoor Products
Segment Reporting Information [Line Items]
Sales, net	335,008	286,824	961,899	807,161
Outdoor Products | Operating Segments
Segment Reporting Information [Line Items]
Sales, net	335,008	286,824	961,899	807,161
Gross profit	104,655	83,712	293,790	230,610
EBIT	$ 42,277	$ 38,333	$ 127,946	$ 96,994