Logitech International (LOGI) 10-Q25 Jul 242025 Q1 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	3 Months Ended
Cover Page - shares	Jun. 30, 2024	Jul. 11, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	0-29174
Entity Registrant Name	LOGITECH INTERNATIONAL S.A.
Entity Incorporation, State or Country Code	V8
Entity Address, Address Line One	1015 Lausanne
Entity Address, Country	CH
Entity Address, Address Line Two	c/o Logitech Inc.
Entity Address, Address Line Three	3930 North First Street
Entity Address, City or Town	San Jose
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95134
City Area Code	510)
Local Phone Number	795-8500
Title of 12(b) Security	Registered Shares
Trading Symbol	LOGI
Security Exchange Name	NASDAQ
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		152,812,108
Entity Central Index Key	0001032975
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Net sales	$ 1,088,217	$ 974,499
Cost of goods sold	619,517	595,712
Amortization of intangible assets	2,442	3,145
Gross profit	466,258	375,642
Operating expenses:
Marketing and selling	196,905	179,185
Research and development	75,307	70,559
General and administrative	37,458	41,297
Amortization of intangible assets and acquisition-related costs	2,703	2,685
Restructuring charges, net	386	3,511
Total operating expenses	312,759	297,237
Operating income	153,499	78,405
Interest income	15,790	9,826
Other income (expense), net	(1,898)	(12,972)
Income before income taxes	167,391	75,259
Provision for income taxes	25,558	12,532
Net income	$ 141,833	$ 62,727
Net income per share:
Basic (in dollars per share)	$ 0.93	$ 0.39
Diluted (in dollars per share)	$ 0.92	$ 0.39
Weighted average shares used to compute net income per share:
Basic (in shares)	153,300	158,859
Diluted (in shares)	154,978	160,155

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 141,833	$ 62,727
Currency translation gain (loss):
Currency translation loss, net of taxes	(5,219)	(1,529)
Defined benefit plans:
Reclassification of amortization included in other income (expense), net	(200)	(4)
Hedging gain (loss):
Deferred hedging gain (loss), net of taxes	1,582	(704)
Reclassification of hedging loss (gain) included in cost of goods sold	(733)	2,986
Total other comprehensive income (loss)	(4,570)	749
Total comprehensive income	$ 137,263	$ 63,476

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Current assets:
Cash and cash equivalents	$ 1,534,380	$ 1,520,842
Accounts receivable, net	591,251	541,715
Inventories	459,582	422,513
Other current assets	141,413	146,270
Total current assets	2,726,626	2,631,340
Non-current assets:
Property, plant and equipment, net	113,265	116,589
Goodwill	462,003	461,978
Other intangible assets, net	39,490	44,603
Other assets	343,532	350,194
Total assets	3,684,916	3,604,704
Current liabilities:
Accounts payable	554,301	448,627
Accrued and other current liabilities	586,180	637,262
Total current liabilities	1,140,481	1,085,889
Non-current liabilities:
Income taxes payable	116,379	112,572
Other non-current liabilities	179,121	172,590
Total liabilities	1,435,981	1,371,051
Commitments and contingencies (Note 10)
Shareholders’ equity:
Registered shares, CHF 0.25 par value: Issued shares — 173,106 at June 30, 2024 and March 31, 2024 Additional shares that may be issued out of conditional capital — 50,000 at June 30, 2024 and March 31, 2024 Additional shares that may be issued out of authorized capital — 17,311 at June 30, 2024 and March 31, 2024	30,148	30,148
Additional paid-in capital	57,036	63,524
Shares in treasury, at cost — 20,090 at June 30, 2024 and 19,243 at March 31, 2024	(1,418,051)	(1,351,336)
Retained earnings	3,695,574	3,602,519
Accumulated other comprehensive loss	(115,772)	(111,202)
Total shareholders’ equity	2,248,935	2,233,653
Total liabilities and shareholders’ equity	$ 3,684,916	$ 3,604,704

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - SFr / shares shares in Thousands	Jun. 30, 2024	Mar. 31, 2024
Statement of Financial Position [Abstract]
Shares, par value (in CHF per share)	SFr 0.25	SFr 0.25
Shares issued (in shares)	173,106	173,106
Shares that may be issued out of conditional capital (in shares)	50,000	50,000
Shares that may be issued out of the authorized capital (in shares)	17,311	17,311
Treasury, at cost, shares (in shares)	20,090	19,243

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income	$ 141,833	$ 62,727
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	14,506	17,498
Amortization of intangible assets	5,079	5,827
Loss on investments	1,186	11,823
Share-based compensation expense	23,405	21,511
Deferred income taxes	11,662	2,962
Other	(24)	24
Changes in assets and liabilities:
Accounts receivable, net	(53,952)	65,390
Inventories	(39,095)	110,440
Other assets	4,907	34,342
Accounts payable	109,028	(18,420)
Accrued and other liabilities	(42,506)	(74,329)
Net cash provided by operating activities	176,029	239,795
Cash flows from investing activities:
Purchases of property, plant and equipment	(14,586)	(16,238)
Purchases of deferred compensation investments	(695)	(1,069)
Proceeds from sales of deferred compensation investments	738	1,071
Other investing activities	(816)	(1,294)
Net cash used in investing activities	(15,359)	(17,530)
Cash flows from financing activities:
Purchases of registered shares	(130,899)	(95,076)
Proceeds from exercises of stock options and purchase rights	4,618	2,113
Tax withholdings related to net share settlements of restricted stock units	(18,853)	(24,196)
Net cash used in financing activities	(145,134)	(117,159)
Effect of exchange rate changes on cash and cash equivalents	(1,998)	(3,043)
Net increase in cash and cash equivalents	13,538	102,063
Cash and cash equivalents, beginning of the period	1,520,842	1,149,023
Cash and cash equivalents, end of the period	1,534,380	1,251,086
Non-cash investing and financing activities:
Property, plant and equipment purchased during the period and included in period end liability accounts	8,130	15,375
Right-of-use assets obtained in exchange for operating lease liabilities	4,292	1,399
Supplemental cash flow information:
Income taxes paid, net	$ 10,374	$ 10,019

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Registered Shares	Additional Paid-in Capital	Treasury Shares	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning of the period at Mar. 31, 2023	$ 2,257,560	$ 30,148	$ 127,380	$ (977,266)	$ 3,177,575	$ (100,277)
Beginning of the period (in shares) at Mar. 31, 2023		173,106
Beginning of the period (in shares) at Mar. 31, 2023				13,763
Increase (Decrease) in Shareholders' Equity
Total comprehensive income	63,476				62,727	749
Purchases of registered shares (in shares)				1,607
Purchases of registered shares	(95,076)			$ (95,076)
Sales of shares upon exercise of stock options and purchase rights	2,113		(1,867)	$ 3,980
Sales of shares upon exercise of stock options and purchase rights (in shares)				(48)
Issuance of shares upon vesting of restricted stock units	(24,196)		(97,977)	$ 73,781
Issuance of shares upon vesting of restricted stock units (in shares)				(838)
Share-based compensation	22,198		22,198
End of the period at Jun. 30, 2023	2,226,075	$ 30,148	49,734	$ (994,581)	3,240,302	(99,528)
End of the period (in shares) at Jun. 30, 2023		173,106
End of the period (in shares) at Jun. 30, 2023				14,484
Beginning of the period at Mar. 31, 2024	$ 2,233,653	$ 30,148	63,524	$ (1,351,336)	3,602,519	(111,202)
Beginning of the period (in shares) at Mar. 31, 2024		173,106
Beginning of the period (in shares) at Mar. 31, 2024	19,243			19,243
Increase (Decrease) in Shareholders' Equity
Total comprehensive income	$ 137,263				141,833	(4,570)
Purchases of registered shares (in shares)				1,444
Purchases of registered shares	(132,132)			$ (132,132)
Sales of shares upon exercise of stock options and purchase rights	4,618		(1,539)	$ 6,157
Sales of shares upon exercise of stock options and purchase rights (in shares)				(57)
Issuance of shares upon vesting of restricted stock units	(18,853)		(29,335)	$ 59,260	(48,778)
Issuance of shares upon vesting of restricted stock units (in shares)				(540)
Share-based compensation	24,386		24,386
End of the period at Jun. 30, 2024	$ 2,248,935	$ 30,148	$ 57,036	$ (1,418,051)	$ 3,695,574	$ (115,772)
End of the period (in shares) at Jun. 30, 2024		173,106
End of the period (in shares) at Jun. 30, 2024	20,090			20,090

The Company and Summary of Sign

The Company and Summary of Significant Accounting Policies and Estimates	3 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
The Company and Summary of Significant Accounting Policies and Estimates	The Company and Summary of Significant Accounting Policies and Estimates The Company Logitech International S.A, together with its consolidated subsidiaries ("Logitech" or the "Company"), designs software-enabled hardware solutions that help businesses thrive and bring people together when working, creating, gaming and streaming. As a point of connection between people and the digital world, the Company's mission is to extend human potential in work and play, in a way that is good for people and the planet. The Company sells its products to a broad network of international customers, including direct sales to retailers, e-tailers and end consumers through the Company's e-commerce platform, and indirect sales to end customers through distributors. Logitech was founded in Switzerland in 1981 and Logitech International S.A. has been the parent holding company of Logitech since 1988. Logitech International S.A. is a Swiss holding company with its registered office in Hautemorges, Switzerland, and headquarters in Lausanne, Switzerland, which conducts its business through subsidiaries in the Americas, Europe, Middle East and Africa ("EMEA") and Asia Pacific. Shares of Logitech International S.A. are listed on both the SIX Swiss Exchange under the trading symbol LOGN and the Nasdaq Global Select Market under the trading symbol LOGI. Basis of Presentation The condensed consolidated financial statements include the accounts of Logitech and its subsidiaries. All intercompany balances and transactions have been eliminated. The condensed consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information and therefore do not include all the information required by U.S. GAAP for complete financial statements. The condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements for the fiscal year ended March 31, 2024, included in its Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") on May 16, 2024. In the opinion of management, these condensed consolidated financial statements include all adjustments, consisting of only normal and recurring adjustments, necessary and in all material aspects, for a fair statement of the results of operations, comprehensive income, financial position, cash flows and changes in shareholders' equity for the periods presented. Operating results for the three months ended June 30, 2024 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2025, or any future periods. Changes in Significant Accounting Policies There have bee n no material changes in the Company’s significant accounting policies during the three months ended June 30, 2024 compared with the significant accounting policies described in its Annual Report on Form 10-K for the fiscal year ended March 31, 2024. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make judgments, estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Management bases its estimates on historical experience and various other assumptions believed to be reasonable. Significant estimates and assumptions made by management involve the fair value of goodwill and intangible assets acquired from business acquisitions, valuation of investment in privately held companies classified under Level 3 fair value hierarchy, pension obligations, accruals for customer incentives, cooperative marketing, and pricing programs and related breakage when appropriate, inventory valuation, share-based compensation expense, uncertain tax positions, and valuation allowances for deferred tax assets. Although these estimates are based on management’s best knowledge of current events and actions that may impact the Company in the future, actual results could differ materially from those estimates. Risks and Uncertainties Impacts of Macroeconomic and Geopolitical Conditions on the Company's Business The Company's business has continued to be impacted by macroeconomic and geopolitical conditions. These conditions include inflation, interest rate and foreign currency fluctuations, changes in fiscal policies, low economic growth in certain regions, and uncertainty in consumer and enterprise demand. The global and regional economic and political conditions have caused and may continue to cause volatility in demand for the Company's products as well as the cost of materials and logistics, and transportation delays, and as a result may impact the pricing of the Company's products, product availability and the Company's results of operations. Recent Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standard Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . ASU 2023-07 improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses that are regularly provided to the chief operating decision maker. In addition, ASU 2023-07 requires that all existing annual disclosures about segment profit or loss must be provided on an interim basis and clarifies that single reportable segment entities are subject to the disclosure requirement under Topic 280 in its entirety. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods within those fiscal years beginning after December 15, 2024. A public entity should apply ASU 2023-07 retrospectively to all prior periods presented in the financial statements. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2023-07 on its consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures

Net Income Per Share

Net Income Per Share	3 Months Ended
Net Income Per Share	Jun. 30, 2024
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share The following table summarizes the computations of basic and diluted net income per share for the three months ended June 30, 2024 and 2023 (in thousands, except per share amounts): Three months ended June 30, 2024 2023 Net income $ 141,833 $ 62,727 Shares used in net income per share computation: Weighted average shares outstanding - basic 153,300 158,859 Effect of potentially dilutive equivalent shares 1,678 1,296 Weighted average shares outstanding - diluted 154,978 160,155 Net income per share: Basic $ 0.93 $ 0.39 Diluted $ 0.92 $ 0.39 Share equivalents attributable to outstanding stock options and restricted stock units totaling 1.1 million and 2.0 million for the three months ended June 30, 2024 and 2023, respectively, were excluded from the calculation of diluted net income per share because their effect would have been anti-dilutive. A small number of performance- based restricted stock units were not included in the dilutive net income per share calculation because all necessary conditions had not been satisfied by the end of the respective period, and those shares were not issuable if the end of the reporting period were the end of the performance contingency period.

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
Employee Benefit Plans	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Employee Benefit Plans	Employee Benefit Plans Employee Share Purchase Plans and Stock Incentive Plans As of June 30, 2024, the Company offers the 2006 Employee Share Purchase Plan (Non-U.S.), as amended and restated, the 1996 Employee Share Purchase Plan (U.S.), as amended and restated, and the 2006 Stock Incentive Plan, as amended and restated. Shares issued to employees as a result of purchases or exercises under these plans are generally issued from shares held in treasury stock. The following table summarizes the share-based compensation expense and total income tax benefit recognized for share-based awards for the three months ended June 30, 2024 and 2023 (in thousands): Three months ended June 30, 2024 2023 Cost of goods sold $ 2,598 $ 1,415 Marketing and selling 11,851 10,483 Research and development 5,739 4,453 General and administrative 3,217 5,160 Total share-based compensation expense 23,405 21,511 Income tax benefit (7,602) (5,318) Total share-based compensation expense, net of income tax benefit $ 15,803 $ 16,193 The income tax benefit in the respective periods primarily consisted of tax benefits related to the share-based compensation expense for the period and direct tax benefit realized. Share-based compensation costs capitalized as part of inventory were $2.5 million and $1.9 million for the three months ended June 30, 2024 and 2023, respectively. Defined Benefit Plans Certain of the Company’s subsidiaries sponsor defined benefit pension plans or non-retirement post-employment benefits covering substantially all of their employees. Benefits are provided based on employees’ years of service and earnings, or in accordance with applicable employee benefit regulations. The Company’s practice is to fund amounts sufficient to meet the requirements set forth in the applicable employee benefit and tax regulations. The costs of $1.7 million and $1.9 million recorded for the three months ended June 30, 2024 and 2023, respectively, were primarily related to service costs.

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company is incorporated in Switzerland but operates in various countries with differing tax laws and rates. Further, a portion of the Company’s income before taxes and the provision for (benefit from) income taxes are generated outside of Switzerland. The income tax provision for the three months ended June 30, 2024 was $25.6 million based on an effective income tax rate of 15.3% of pre-tax income. The income tax provision for the same period ended June 30, 2023 was $12.5 million based on an effective income tax rate of 16.7% of pre-tax income. The change in the effective income tax rate for the three months ended June 30, 2024 compared with the same period ended June 30, 2023 was primarily due to the change in the mix of income and losses in the various tax jurisdictions in which the Company operates, the favorable tax impacts from share-based compensation and Foreign-Derived Intangible Income. The Base Erosion and Profit Shifting Project (the “BEPS Project”) undertaken by the Organization for Economic Co-operation and Development (the "OECD") recommended changes to numerous long-standing tax principles, including a proposal to reallocate profits among tax jurisdictions in which companies do business (“Pillar One”) and establishing a minimum tax on global income (“Pillar Two”). Some jurisdictions, including Switzerland, where the Company operates are implementing Pillar Two laws to effectuate a 15% minimum tax. The minimum tax effective beginning in fiscal year 2025 for the Company, is treated as a current cost and does not have a material impact on the Company's effective tax rate. The OECD and participating countries continue to issue underlying rules and administrative guidance related to Pillar Two, and the Company continues to monitor the relevant developments.

Balance Sheet Components

Balance Sheet Components	3 Months Ended
Balance Sheet Components	Jun. 30, 2024
Balance Sheet Related Disclosures [Abstract]
Balance Sheet Components	Balance Sheet Components The following table presents the components of certain balance sheet asset amounts (in thousands): June 30, 2024 March 31, 2024 Accounts receivable, net: Accounts receivable $ 814,127 $ 744,836 Allowance for sales returns (12,212) (10,180) Allowance for cooperative marketing arrangements (45,590) (41,634) Allowance for customer incentive programs (67,324) (60,027) Allowance for pricing programs (97,750) (91,280) $ 591,251 $ 541,715 Inventories: Raw materials $ 54,113 $ 65,209 Finished goods 405,469 357,304 $ 459,582 $ 422,513 Other current assets: Value-added tax ("VAT") receivables $ 34,551 $ 41,172 Prepaid expenses and other assets 106,862 105,098 $ 141,413 $ 146,270 Property, plant and equipment, net: Property, plant and equipment $ 511,096 $ 503,882 Less: accumulated depreciation and amortization (397,831) (387,293) $ 113,265 $ 116,589 Other assets: Deferred tax assets $ 215,504 $ 224,831 Right-of-use assets 61,846 61,163 Investments for deferred compensation plan 30,887 29,174 Investments in privately held companies 28,292 28,662 Other assets 7,003 6,364 $ 343,532 $ 350,194 The following table presents the components of certain balance sheet liability amounts (in thousands): June 30, 2024 March 31, 2024 Accrued and other current liabilities: Accrued customer marketing, pricing and incentive programs $ 166,516 $ 170,371 Accrued personnel expenses 112,249 145,473 Warranty liabilities 30,476 30,270 Accrued sales return liability 29,920 30,098 Accrued loss for inventory purchase commitments 26,208 29,349 Income taxes payable 25,482 24,196 VAT payable 21,958 28,253 Deferred revenue (1) 21,127 19,262 Operating lease liabilities 15,009 15,107 Other current liabilities 137,235 144,883 $ 586,180 $ 637,262 Other non-current liabilities: Operating lease liabilities $ 62,886 $ 61,920 Employee benefit plan obligations 42,091 42,707 Obligation for deferred compensation plan 30,887 29,174 Deferred revenue (1) 25,883 21,097 Warranty liabilities 14,026 14,384 Deferred tax liabilities 708 705 Other non-current liabilities 2,640 2,603 $ 179,121 $ 172,590 (1) Includes deferred revenue for post-contract customer support and other services.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair Value Measurements The Company considers fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The Company utilizes the following three-level fair value hierarchy to establish the priorities of the inputs used to measure fair value: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Observable inputs other than quoted market prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. • Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The following table presents the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis, excluding assets related to the Company’s defined benefit pension plans, classified by the level within the fair value hierarchy (in thousands): June 30, 2024 March 31, 2024 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets: Cash equivalents $ 1,062,484 $ — $ — $ 1,042,604 $ — $ — Investments for deferred compensation plan included in other assets: Cash $ 144 $ — $ — $ 312 $ — $ — Common stock 627 — — 573 — — Money market funds 8,664 — — 8,129 — — Mutual funds 21,452 — — 20,160 — — Total investments for deferred compensation plan $ 30,887 $ — $ — $ 29,174 $ — $ — Currency derivative assets $ — $ 1,546 $ — $ — $ 913 $ — Liabilities: Contingent consideration included in accrued and other current liabilities $ — $ — $ 1,222 $ — $ — $ 1,215 Currency derivative liabilities $ — $ 68 $ — $ — $ 573 $ — Investments for Deferred Compensation Plan The marketable securities for the Company's deferred compensation plan were recorded at a fair value of $30.9 million and $29.2 million, as of June 30, 2024 and March 31, 2024, respectively, based on quoted market prices. Quoted market prices are observable inputs that are classified as Level 1 within the fair value hierarchy. Unrealized gains (losses) related to marketable securities for the three months ended June 30, 2024 and 2023 were not material and were included in other income (expense), net, and corresponding changes in the deferred compensation liability were included in operating expenses and cost of goods sold, in the Company's condensed consolidated statements of operations. Equity Method Investments The Company has certain non-marketable investments included in other assets that are accounted for as equity method investments, with a carrying value of $18.8 million and $18.0 million as of June 30, 2024 and March 31, 2024, respectively. Gains (losses) related to equity method investments for the three months ended June 30, 2024 and 2023 were not material and are included in other income (expense), net, in the Company's condensed consolidated statements of operations. There was no impairment of equity method investments during the three months ended June 30, 2024 and 2023. Assets Measured at Fair Value on a Nonrecurring Basis Financial Assets The Company has certain equity investments without readily determinable fair values due to the absence of quoted market prices, the inherent lack of liquidity, and the fact that inputs used to measure fair value are unobservable and require management's judgment. When certain events or circumstances indicate that impairment may exist, the Company revalues the investments using various assumptions, including the financial metrics and ratios of comparable public companies. The carrying value is also adjusted for observable price changes with the same or similar security from the same issuer. The amount of these equity investments without readily determinable fair value included in other assets was $8.9 million and $10.1 million as of June 30, 2024 and March 31, 2024, respectively. The impairment charges related to these equity investments were not material during three months ended June 30, 2024. There were no impairment charges related to these equity investments during the three months ended June 30, 2023. During the three months ended June 30, 2023, the Company recorded an impairment loss, before tax, of $9.6 million as a result of the write-off of a note receivable which has been deemed no longer recoverable. This note receivable was previously obtained in conjunction with an exchange transaction related to the Company's investment in a privately held company. The impairment loss is included in other income (expense), net, in the Company's condensed consolidated statement of operations for the three months ended June 30, 2023. Non-Financial Assets

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
Derivative Financial Instruments	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments Under certain agreements with the respective counterparties to the Company’s derivative contracts, subject to applicable requirements, the Company is allowed to net settle transactions of the same type with a single net amount payable by one party to the other. However, the Company presents its derivative assets and derivative liabilities on a gross basis in other current assets and accrued and other current liabilities, respectively, on the condensed consolidated balance sheets as of June 30, 2024 and March 31, 2024. See Note 6 for the fair values of the Company’s derivative instruments as of June 30, 2024 and March 31, 2024. Cash Flow Hedges The Company enters into cash flow hedge contracts to protect against exchange rate exposure of forecasted inventory purchases. These hedging contracts mature within approximately four months. Gains and losses in the fair value of the effective portion of the hedges are deferred as a component of accumulated other comprehensive loss until the hedged inventory purchases are sold, at which time the gains or losses are reclassified to cost of goods sold. Cash flows from such hedges are classified as operating activities in the condensed consolidated statements of cash flows. Hedging relationships are discontinued when the hedging contract is no longer eligible for hedge accounting, or is sold, terminated or exercised, or when the Company removes hedge designation for the contract. Gains and losses in the fair value of the effective portion of the discontinued hedges continue to be reported in accumulated other comprehensive loss until the hedged inventory purchases are sold, unless it is probable that the forecasted inventory purchases will not occur by the end of the originally specified time period or within an additional two-month period of time thereafter. The notional amounts of foreign currency exchange forward contracts outstanding related to forecasted inventory purchases were $119.6 million and $90.5 million as of June 30, 2024 and March 31, 2024, respectively. The Company had $2.0 million of net gain related to its cash flow hedges included in accumulated other comprehensive loss as of June 30, 2024, which will be reclassified into earnings within the next twelve months. The following table presents the amounts of gain (loss) on the Company’s derivative instruments designated as hedging instruments for the three months ended June 30, 2024 and 2023 and their locations on its condensed consolidated statements of operations and condensed consolidated statements of comprehensive income (in thousands): Three months ended June 30, Amount of Gain (Loss) Amount of Loss (Gain) 2024 2023 2024 2023 Cash flow hedges $ 1,582 $ (704) $ (733) $ 2,986 The Company presents the earnings impact from forward points in the same line item that is used to present the earnings impact of the hedged item, i.e., cost of goods sold, for hedging forecasted inventory purchases and such amount is not material for all periods presented. Other Derivatives The Company also enters into foreign currency exchange forward and swap contracts to reduce the short-term effects of currency exchange rate fluctuations on certain receivables or payables denominated in currencies other than the functional currencies of its subsidiaries. These contracts generally mature within approximately one month. The primary risk managed by using forward and swap contracts is the currency exchange rate risk. The gains or losses on these contracts are not material and included in other income (expense), net, in the condensed consolidated statements of operations based on the changes in fair value. The notional amounts of these contracts outstanding as of June 30, 2024 and March 31, 2024 were $93.8 million and $79.4 million, respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
Goodwill and Other Intangible Assets	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The Company conducts its impairment analysis of goodwill annually at December 31 or more frequently if changes in facts and circumstances indicate that it is more likely than not that the fair value of the Company’s reporting unit may be less than its carrying amount. There have been no triggering events identified affecting the valuation of goodwill and intangible assets during the three months ended June 30, 2024 and 2023. The following table summarizes the activities in the Company’s goodwill balance (in thousands): As of March 31, 2024 $ 461,978 Effects of foreign currency translation 25 As of June 30, 2024 $ 462,003 The Company's acquired intangible assets were as follows (in thousands): June 30, 2024 March 31, 2024 Gross Carrying Amount Accumulated Net Carrying Amount Gross Carrying Amount Accumulated Net Carrying Amount Trademarks and trade names $ 32,390 $ (26,473) $ 5,917 $ 32,390 $ (25,739) $ 6,651 Developed technology 107,421 (89,311) 18,110 107,421 (86,855) 20,566 Customer contracts/relationships 69,087 (52,957) 16,130 69,087 (51,061) 18,026 Effects of foreign currency translation (1,048) 381 (667) (1,019) 379 (640) Total $ 207,850 $ (168,360) $ 39,490 $ 207,879 $ (163,276) $ 44,603

Financing Arrangements

Financing Arrangements	3 Months Ended
Financing Arrangements	Jun. 30, 2024
Debt Disclosure [Abstract]
Financing Arrangements	Financing Arrangements

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Product Warranties Changes in the Company’s warranty liabilities for the three months ended June 30, 2024 and 2023 were as follows (in thousands): Three months ended June 30, 2024 2023 Beginning of the period $ 44,654 $ 40,886 Provision 10,186 9,092 Settlements (10,038) (9,918) Effects of foreign currency translation (300) (175) End of the period $ 44,502 $ 39,885 Indemnifications The Company indemnifies certain suppliers and customers for losses arising from matters such as intellectual property disputes and product safety defects, subject to certain restrictions. The scope of these indemnities varies, but in some instances includes indemnification for damages and expenses, including reasonable attorneys’ fees. As of June 30, 2024, no material amounts have been accrued for indemnification provisions. The Company does not believe, based on historical experience and information currently available, that it is probable that any material amounts will be required to be paid under its indemnification arrangements. The Company also indemnifies its current and former directors and certain current and former officers. Certain costs incurred for providing such indemnification may be recoverable under various insurance policies. The Company is unable to reasonably estimate the maximum amount that could be payable under these arrangements because these exposures are not capped, the obligations are conditional in nature, and the facts and circumstances involved in any situation that might arise are variable. Legal Proceedings From time to time the Company is involved in claims and legal proceedings that arise in the ordinary course of its business. The Company is currently subject to several such claims and legal proceedings. The Company intends to vigorously defend against them. Management periodically assesses the Company’s liabilities and contingencies in connection with these matters based upon the latest information available. The Company follows ASC ("Accounting Standards Codification") 450, Contingencies , in determining the accounting and disclosure for these contingencies. Based on currently available information, the Company does not believe that resolution of pending matters will have a material adverse effect on its financial condition, cash flows and results of operations. However, litigation is subject to inherent uncertainties, and there can be no assurances that the Company's defenses will be successful or that any such lawsuit or claim would not have a material adverse impact on the Company's business, financial condition, cash flows and results of operations in a particular period. Any claims or proceedings against the Company can have an adverse impact because of defense costs, diversion of management and operational resources, negative publicity and other factors. Any failure to obtain a necessary license or other rights, or litigation arising out of intellectual property claims, could adversely affect the Company's business.

Shareholders' Equity

Shareholders' Equity	3 Months Ended
Shareholders' Equity	Jun. 30, 2024
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders’ Equity Share Repurchases In June 2023, the Company's Board of Directors approved a three-year share repurchase program, which allows the Company to use up to $1.0 billion to repurchase its shares. The 2023 share repurchase program enables the Company to repurchase shares for cancellation, as well as to support equity incentive plans or potential acquisitions. The Swiss Takeover Board approved the 2023 share repurchase program in July 2023 and the program became effective on July 28, 2023. During the three months ended June 30, 2024, the Company repurchased 1.4 million shares for an aggregate cost of $132.1 million under the 2023 share repurchase program for cancellation, of which $20.8 million of the aggregate cost was not paid yet as of June 30, 2024. As of June 30, 2024 , $503.8 m illion was available for repurchase under the 2023 share repurchase program. During the three months ended June 30, 2023, the Company repurchased 1.6 million shares for an aggregate cost of $95.1 million under the previous share repurchase program. This program was initially approved by the Company's Board of Directors in May 2020, to purchase Logitech shares to support equity incentive plans or potential acquisitions, and expired on July 27, 2023. Swiss law limits a company’s ability to hold or repurchase its own shares. The aggregate par value of all shares held in treasury by the Company and its subsidiaries may not exceed 10% of the share capital of the Company, which for the Company corresponds to approximately 17.3 million registered shares. This limitation does not apply to shares repurchased for cancellation, due to the Board of Directors’ authority under the Company’s capital band set forth in the Company’s Articles of Incorporation to cancel shares up to a limit of 10% of the Company's current share capital. As of June 30, 2024, the Company had a total of 20.1 million shares held in treasury stock, which includes 5.6 million shares that have been repurchased for cancellation and 14.5 million shares that have been purchased to support equity incentive plans or potential acquisitions. To the extent that the shares are repurchased to support equity incentive plans or potential acquisitions, the shares are repurchased on the ordinary trading line of SIX Swiss Exchange (“SIX”) and/or The Nasdaq Global Select Market (“Nasdaq”). Shares repurchased for cancellation purposes are repurchased on a second trading line on SIX. Shares may be repurchased from time to time on the open market or in privately negotiated transactions, including under plans complying with the provisions of Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934, as amended. Purchases may be started or stopped at any time without prior notice depending on market conditions and other factors and the program does not require the purchase of any minimum number of shares. Accumulated Other Comprehensive Loss The accumulated other comprehensive loss was as follows (in thousands): Currency Translation Adjustment Defined Benefit Plans Deferred Hedging Gains Total March 31, 2024 $ (103,947) $ (8,395) $ 1,140 $ (111,202) Other comprehensive income (loss) (5,219) (200) 849 (4,570) June 30, 2024 $ (109,166) $ (8,595) $ 1,989 $ (115,772)

Segment Information

Segment Information	3 Months Ended
Segment Information	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information The Company operates in a single operating segment that encompasses the design, manufacturing and marketing of peripherals for gaming, personal computers ("PCs"), tablets, video conferencing, and other digital platforms. Operating performance measures are provided directly to the Company's Chief Executive Officer ("CEO"), who is considered to be the Company’s Chief Operating Decision Maker. The CEO periodically reviews information such as sales and adjusted operating income (loss) to make business decisions. These operating performance measures do not include restructuring charges, net, share-based compensation expense, amortization and impairment of intangible assets, acquisition-related costs, and change in fair value of contingent consideration from business acquisitions. Sales by product category for the three months ended June 30, 2024 and 2023 were as follows (in thousands): Three months ended June 30, 2024 2023 Gaming (1) $ 309,475 $ 266,429 Keyboards & Combos 215,333 180,855 Pointing Devices 189,946 174,454 Video Collaboration 147,042 139,346 Webcams 72,904 75,200 Tablet Accessories 78,539 70,336 Headsets 44,236 36,850 Other (2) 30,742 31,029 Total Sales $ 1,088,217 $ 974,499 (1) Gaming includes streaming services revenue generated by Streamlabs. (2) Other primarily consists of mobile speakers and PC speakers. Sales by geographic region (based on the customers’ locations) for the three months ended June 30, 2024 and 2023 were as follows (in thousands): Three months ended June 30, 2024 2023 Americas $ 485,289 $ 445,168 EMEA 309,817 258,878 Asia Pacific 293,111 270,453 Total Sales $ 1,088,217 $ 974,499 Revenue from sales to customers in the United States, China and Germany each represented 10% or more of the total consolidated sales for each of the periods presented herein. No other countries represented 10% or more of the Company’s total consolidated sales for the periods presented herein. Switzerland, the Company’s country of domicile, represented 2% of the Company's total consolidated sales for each of the three months ended June 30, 2024 and 2023. Three customers of the Company each represented 10% or more of the total consolidated gross sales for each of the three months ended June 30, 2024 and 2023. Property, plant and equipment, net (excluding software) and right-of-use assets by geographic region were as follows (in thousands): June 30, 2024 March 31, 2024 Americas $ 65,661 $ 67,762 EMEA 30,919 30,819 Asia Pacific 57,690 58,901 Total $ 154,270 $ 157,482 Property, plant and equipment, net (excluding software) and right-of-use assets in the United States, China, and Ireland were $64.3 million, $40.9 million and $15.7 million, respectively, as of June 30, 2024, and $66.5 million, $41.2 million, and $16.2 million, respectively, as of March 31, 2024. No other countries represented more than 10% of the Company’s total consolidated property, plant and equipment, net (excluding software) and right-of-use assets as of June 30, 2024 or March 31, 2024.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income	$ 141,833	$ 62,727

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

The Company and Summary of Si_2

The Company and Summary of Significant Accounting Policies and Estimates (Policies)	3 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements include the accounts of Logitech and its subsidiaries. All intercompany balances and transactions have been eliminated. The condensed consolidated financial statements are presented in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information and therefore do not include all the information required by U.S. GAAP for complete financial statements. The condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements for the fiscal year ended March 31, 2024, included in its Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") on May 16, 2024. In the opinion of management, these condensed consolidated financial statements include all adjustments, consisting of only normal and recurring adjustments, necessary and in all material aspects, for a fair statement of the results of operations, comprehensive income, financial position, cash flows and changes in shareholders' equity for the periods presented. Operating results for the three months ended June 30, 2024 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2025, or any future periods.
Changes in Significant Accounting Policies and Recent Accounting Pronouncements Not Yet Adopted	Changes in Significant Accounting Policies There have bee n no material changes in the Company’s significant accounting policies during the three months ended June 30, 2024 compared with the significant accounting policies described in its Annual Report on Form 10-K for the fiscal year ended March 31, 2024. Recent Accounting Pronouncements Not Yet Adopted In November 2023, the Financial Accounting Standard Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . ASU 2023-07 improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses that are regularly provided to the chief operating decision maker. In addition, ASU 2023-07 requires that all existing annual disclosures about segment profit or loss must be provided on an interim basis and clarifies that single reportable segment entities are subject to the disclosure requirement under Topic 280 in its entirety. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods within those fiscal years beginning after December 15, 2024. A public entity should apply ASU 2023-07 retrospectively to all prior periods presented in the financial statements. Early adoption is permitted. The Company is currently evaluating the impact of ASU 2023-07 on its consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make judgments, estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Management bases its estimates on historical experience and various other assumptions believed to be reasonable. Significant estimates and assumptions made by management involve the fair value of goodwill and intangible assets acquired from business acquisitions, valuation of investment in privately held companies classified under Level 3 fair value hierarchy, pension obligations, accruals for customer incentives, cooperative marketing, and pricing programs and related breakage when appropriate, inventory valuation, share-based compensation expense, uncertain tax positions, and valuation allowances for deferred tax assets. Although these estimates are based on management’s best knowledge of current events and actions that may impact the Company in the future, actual results could differ materially from those estimates.
Risks and Uncertainties	Risks and Uncertainties Impacts of Macroeconomic and Geopolitical Conditions on the Company's Business The Company's business has continued to be impacted by macroeconomic and geopolitical conditions. These conditions include inflation, interest rate and foreign currency fluctuations, changes in fiscal policies, low economic growth in certain regions, and uncertainty in consumer and enterprise demand.

Net Income Per Share (Tables)

Net Income Per Share (Tables)	3 Months Ended
Net Income Per Share (Tables)	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Computations of Basic and Diluted Net Income Per Share	The following table summarizes the computations of basic and diluted net income per share for the three months ended June 30, 2024 and 2023 (in thousands, except per share amounts): Three months ended June 30, 2024 2023 Net income $ 141,833 $ 62,727 Shares used in net income per share computation: Weighted average shares outstanding - basic 153,300 158,859 Effect of potentially dilutive equivalent shares 1,678 1,296 Weighted average shares outstanding - diluted 154,978 160,155 Net income per share: Basic $ 0.93 $ 0.39 Diluted $ 0.92 $ 0.39

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
Employee Benefit Plans (Tables)	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Compensation Expenses and Related Tax Benefits Recognized	The following table summarizes the share-based compensation expense and total income tax benefit recognized for share-based awards for the three months ended June 30, 2024 and 2023 (in thousands): Three months ended June 30, 2024 2023 Cost of goods sold $ 2,598 $ 1,415 Marketing and selling 11,851 10,483 Research and development 5,739 4,453 General and administrative 3,217 5,160 Total share-based compensation expense 23,405 21,511 Income tax benefit (7,602) (5,318) Total share-based compensation expense, net of income tax benefit $ 15,803 $ 16,193

Balance Sheet Components (Table

Balance Sheet Components (Tables)	3 Months Ended
Balance Sheet Components (Tables)	Jun. 30, 2024
Balance Sheet Related Disclosures [Abstract]
Schedule of Components of Certain Balance Sheet Asset Amounts	The following table presents the components of certain balance sheet asset amounts (in thousands): June 30, 2024 March 31, 2024 Accounts receivable, net: Accounts receivable $ 814,127 $ 744,836 Allowance for sales returns (12,212) (10,180) Allowance for cooperative marketing arrangements (45,590) (41,634) Allowance for customer incentive programs (67,324) (60,027) Allowance for pricing programs (97,750) (91,280) $ 591,251 $ 541,715 Inventories: Raw materials $ 54,113 $ 65,209 Finished goods 405,469 357,304 $ 459,582 $ 422,513 Other current assets: Value-added tax ("VAT") receivables $ 34,551 $ 41,172 Prepaid expenses and other assets 106,862 105,098 $ 141,413 $ 146,270 Property, plant and equipment, net: Property, plant and equipment $ 511,096 $ 503,882 Less: accumulated depreciation and amortization (397,831) (387,293) $ 113,265 $ 116,589 Other assets: Deferred tax assets $ 215,504 $ 224,831 Right-of-use assets 61,846 61,163 Investments for deferred compensation plan 30,887 29,174 Investments in privately held companies 28,292 28,662 Other assets 7,003 6,364 $ 343,532 $ 350,194
Schedule of Components of Certain Balance Sheet Liability Amounts	The following table presents the components of certain balance sheet liability amounts (in thousands): June 30, 2024 March 31, 2024 Accrued and other current liabilities: Accrued customer marketing, pricing and incentive programs $ 166,516 $ 170,371 Accrued personnel expenses 112,249 145,473 Warranty liabilities 30,476 30,270 Accrued sales return liability 29,920 30,098 Accrued loss for inventory purchase commitments 26,208 29,349 Income taxes payable 25,482 24,196 VAT payable 21,958 28,253 Deferred revenue (1) 21,127 19,262 Operating lease liabilities 15,009 15,107 Other current liabilities 137,235 144,883 $ 586,180 $ 637,262 Other non-current liabilities: Operating lease liabilities $ 62,886 $ 61,920 Employee benefit plan obligations 42,091 42,707 Obligation for deferred compensation plan 30,887 29,174 Deferred revenue (1) 25,883 21,097 Warranty liabilities 14,026 14,384 Deferred tax liabilities 708 705 Other non-current liabilities 2,640 2,603 $ 179,121 $ 172,590 (1) Includes deferred revenue for post-contract customer support and other services.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
Fair Value Measurements (Tables)	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Liabilities, Classified by Level	The following table presents the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis, excluding assets related to the Company’s defined benefit pension plans, classified by the level within the fair value hierarchy (in thousands): June 30, 2024 March 31, 2024 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets: Cash equivalents $ 1,062,484 $ — $ — $ 1,042,604 $ — $ — Investments for deferred compensation plan included in other assets: Cash $ 144 $ — $ — $ 312 $ — $ — Common stock 627 — — 573 — — Money market funds 8,664 — — 8,129 — — Mutual funds 21,452 — — 20,160 — — Total investments for deferred compensation plan $ 30,887 $ — $ — $ 29,174 $ — $ — Currency derivative assets $ — $ 1,546 $ — $ — $ 913 $ — Liabilities: Contingent consideration included in accrued and other current liabilities $ — $ — $ 1,222 $ — $ — $ 1,215 Currency derivative liabilities $ — $ 68 $ — $ — $ 573 $ —

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
Derivative Financial Instruments (Tables)	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Gains on Derivative Instruments	The following table presents the amounts of gain (loss) on the Company’s derivative instruments designated as hedging instruments for the three months ended June 30, 2024 and 2023 and their locations on its condensed consolidated statements of operations and condensed consolidated statements of comprehensive income (in thousands): Three months ended June 30, Amount of Gain (Loss) Amount of Loss (Gain) 2024 2023 2024 2023 Cash flow hedges $ 1,582 $ (704) $ (733) $ 2,986

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
Goodwill and Other Intangible Assets (Tables)	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Activity in Goodwill Balance	The following table summarizes the activities in the Company’s goodwill balance (in thousands): As of March 31, 2024 $ 461,978 Effects of foreign currency translation 25 As of June 30, 2024 $ 462,003
Schedule of Intangible Assets Subject to Amortization	The Company's acquired intangible assets were as follows (in thousands): June 30, 2024 March 31, 2024 Gross Carrying Amount Accumulated Net Carrying Amount Gross Carrying Amount Accumulated Net Carrying Amount Trademarks and trade names $ 32,390 $ (26,473) $ 5,917 $ 32,390 $ (25,739) $ 6,651 Developed technology 107,421 (89,311) 18,110 107,421 (86,855) 20,566 Customer contracts/relationships 69,087 (52,957) 16,130 69,087 (51,061) 18,026 Effects of foreign currency translation (1,048) 381 (667) (1,019) 379 (640) Total $ 207,850 $ (168,360) $ 39,490 $ 207,879 $ (163,276) $ 44,603

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
Commitments and Contingencies (Tables)	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Changes in Warranty Liabilities	Changes in the Company’s warranty liabilities for the three months ended June 30, 2024 and 2023 were as follows (in thousands): Three months ended June 30, 2024 2023 Beginning of the period $ 44,654 $ 40,886 Provision 10,186 9,092 Settlements (10,038) (9,918) Effects of foreign currency translation (300) (175) End of the period $ 44,502 $ 39,885

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
Shareholders' Equity (Tables)	Jun. 30, 2024
Stockholders' Equity Note [Abstract]
Schedule of Components of Accumulated Other Comprehensive Loss	The accumulated other comprehensive loss was as follows (in thousands): Currency Translation Adjustment Defined Benefit Plans Deferred Hedging Gains Total March 31, 2024 $ (103,947) $ (8,395) $ 1,140 $ (111,202) Other comprehensive income (loss) (5,219) (200) 849 (4,570) June 30, 2024 $ (109,166) $ (8,595) $ 1,989 $ (115,772)

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
Segment Information (Tables)	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Net Sales by Product Categories, Excluding Intercompany Transactions	Sales by product category for the three months ended June 30, 2024 and 2023 were as follows (in thousands): Three months ended June 30, 2024 2023 Gaming (1) $ 309,475 $ 266,429 Keyboards & Combos 215,333 180,855 Pointing Devices 189,946 174,454 Video Collaboration 147,042 139,346 Webcams 72,904 75,200 Tablet Accessories 78,539 70,336 Headsets 44,236 36,850 Other (2) 30,742 31,029 Total Sales $ 1,088,217 $ 974,499 (1) Gaming includes streaming services revenue generated by Streamlabs. (2) Other primarily consists of mobile speakers and PC speakers.
Schedule of Net Sales by Geographic Region	Sales by geographic region (based on the customers’ locations) for the three months ended June 30, 2024 and 2023 were as follows (in thousands): Three months ended June 30, 2024 2023 Americas $ 485,289 $ 445,168 EMEA 309,817 258,878 Asia Pacific 293,111 270,453 Total Sales $ 1,088,217 $ 974,499
Schedule of Long-Lived Assets by Geographic Region	Property, plant and equipment, net (excluding software) and right-of-use assets by geographic region were as follows (in thousands): June 30, 2024 March 31, 2024 Americas $ 65,661 $ 67,762 EMEA 30,919 30,819 Asia Pacific 57,690 58,901 Total $ 154,270 $ 157,482

Net Income Per Share - Computat

Net Income Per Share - Computations of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Net income
Net income	$ 141,833	$ 62,727
Net income	$ 141,833	$ 62,727
Shares used in net income per share computation:
Weighted average shares outstanding - basic (in shares)	153,300	158,859
Effect of potentially dilutive equivalent shares (in shares)	1,678	1,296
Weighted average shares outstanding - diluted (in shares)	154,978	160,155
Net income per share:
Basic (in dollars per share)	$ 0.93	$ 0.39
Diluted (in dollars per share)	$ 0.92	$ 0.39

Net Income Per Share - Narrativ

Net Income Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Anti-dilutive equivalents shares excluded (in shares)	1.1	2

Employee Benefit Plans - Share-

Employee Benefit Plans - Share-based Compensation Expenses and Related Tax Benefits Recognized (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Share-based compensation expense and related tax benefit
Total share-based compensation expense	$ 23,405	$ 21,511
Income tax benefit	(7,602)	(5,318)
Total share-based compensation expense, net of income tax benefit	15,803	16,193
Cost of goods sold
Share-based compensation expense and related tax benefit
Total share-based compensation expense	2,598	1,415
Marketing and selling
Share-based compensation expense and related tax benefit
Total share-based compensation expense	11,851	10,483
Research and development
Share-based compensation expense and related tax benefit
Total share-based compensation expense	5,739	4,453
General and administrative
Share-based compensation expense and related tax benefit
Total share-based compensation expense	$ 3,217	$ 5,160

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Share-based compensation expenses capitalized as inventory	$ 2.5	$ 1.9
Net periodic benefit cost	$ 1.7	$ 1.9

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 25,558	$ 12,532
Effective income tax rates (as a percent)	15.30%	16.70%
Effective income minimum tax rate	15%

Balance Sheet Components - Comp

Balance Sheet Components - Components of Certain Balance Sheet Asset Amounts (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Accounts receivable, net:
Accounts receivable	$ 814,127	$ 744,836
Accounts receivable, net	591,251	541,715
Inventories:
Raw materials	54,113	65,209
Finished goods	405,469	357,304
Inventory, net	459,582	422,513
Other current assets:
Value-added tax ("VAT") receivables	34,551	41,172
Prepaid expenses and other assets	106,862	105,098
Other current assets, total	141,413	146,270
Property, plant and equipment, net:
Property, plant and equipment	511,096	503,882
Less: accumulated depreciation and amortization	(397,831)	(387,293)
Property, plant and equipment, net	113,265	116,589
Other assets:
Deferred tax assets	215,504	224,831
Right-of-use assets	61,846	61,163
Investments for deferred compensation plan	30,887	29,174
Other assets	7,003	6,364
Other assets, total	343,532	350,194
Deferred compensation
Other assets:
Investments in privately held companies	28,292	28,662
Allowance for sales returns
Accounts receivable, net:
Valuation allowance for accounts receivable	(12,212)	(10,180)
Allowance for cooperative marketing arrangements
Accounts receivable, net:
Valuation allowance for accounts receivable	(45,590)	(41,634)
Allowance for customer incentive programs
Accounts receivable, net:
Valuation allowance for accounts receivable	(67,324)	(60,027)
Allowance for pricing programs
Accounts receivable, net:
Valuation allowance for accounts receivable	$ (97,750)	$ (91,280)

Balance Sheet Components - Co_2

Balance Sheet Components - Components of Certain Balance Sheet Liability Amounts (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Accrued and other current liabilities:
Accrued customer marketing, pricing and incentive programs	$ 166,516	$ 170,371
Accrued personnel expenses	112,249	145,473
Warranty liabilities	30,476	30,270
Accrued sales return liability	29,920	30,098
Accrued loss for inventory purchase commitments	26,208	29,349
Income taxes payable	25,482	24,196
VAT payable	21,958	28,253
Deferred revenue	21,127	19,262
Operating lease liabilities	15,009	15,107
Other current liabilities	137,235	144,883
Accrued and other current liabilities	586,180	637,262
Other non-current liabilities:
Operating lease liabilities	62,886	61,920
Employee benefit plan obligations	42,091	42,707
Obligation for deferred compensation plan	30,887	29,174
Deferred revenue	25,883	21,097
Warranty liabilities	14,026	14,384
Deferred tax liabilities	708	705
Other non-current liabilities	2,640	2,603
Non-current liabilities	$ 179,121	$ 172,590

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities, Classified by Level (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Deferred compensation
Assets:
Investments in privately held companies	$ 28,292	$ 28,662
Recurring \| Level 1
Assets:
Cash equivalents	1,062,484	1,042,604
Investments in privately held companies	30,887	29,174
Currency derivative assets included in other current assets	0	0
Liabilities:
Contingent consideration included in accrued and other current liabilities	0	0
Currency derivative liabilities included in accrued and other current liabilities	0	0
Recurring \| Level 1 \| Deferred compensation \| Cash
Assets:
Investments in privately held companies	144	312
Recurring \| Level 1 \| Deferred compensation \| Common stock
Assets:
Investments in privately held companies	627	573
Recurring \| Level 1 \| Deferred compensation \| Money market funds
Assets:
Investments in privately held companies	8,664	8,129
Recurring \| Level 1 \| Deferred compensation \| Mutual funds
Assets:
Investments in privately held companies	21,452	20,160
Recurring \| Level 2
Assets:
Cash equivalents	0	0
Investments in privately held companies	0	0
Currency derivative assets included in other current assets	1,546	913
Liabilities:
Contingent consideration included in accrued and other current liabilities	0	0
Currency derivative liabilities included in accrued and other current liabilities	68	573
Recurring \| Level 2 \| Deferred compensation \| Cash
Assets:
Investments in privately held companies	0	0
Recurring \| Level 2 \| Deferred compensation \| Common stock
Assets:
Investments in privately held companies	0	0
Recurring \| Level 2 \| Deferred compensation \| Money market funds
Assets:
Investments in privately held companies	0	0
Recurring \| Level 2 \| Deferred compensation \| Mutual funds
Assets:
Investments in privately held companies	0	0
Recurring \| Level 3
Assets:
Cash equivalents	0	0
Investments in privately held companies	0	0
Currency derivative assets included in other current assets	0	0
Liabilities:
Contingent consideration included in accrued and other current liabilities	1,222	1,215
Currency derivative liabilities included in accrued and other current liabilities	0	0
Recurring \| Level 3 \| Deferred compensation \| Cash
Assets:
Investments in privately held companies	0	0
Recurring \| Level 3 \| Deferred compensation \| Common stock
Assets:
Investments in privately held companies	0	0
Recurring \| Level 3 \| Deferred compensation \| Money market funds
Assets:
Investments in privately held companies	0	0
Recurring \| Level 3 \| Deferred compensation \| Mutual funds
Assets:
Investments in privately held companies	$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($)	3 Months Ended
Fair Value Measurements - Narrative (Details) - USD ($)	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity method investments	$ 18,800,000		$ 18,000,000
Impairment of non-marketable investments	0	$ 0
Equity investments included in other assets	8,900,000		10,100,000
Financial assets impairment charges	0
Impairment of financial assets		0
Impairment loss, before tax		9,600,000
Impairment of non-financial assets	0	$ 0
Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in privately held companies	$ 30,887,000		$ 29,174,000

Derivative Financial Instrume_3

Derivative Financial Instruments - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024
Foreign exchange forward \| Designated as hedging instruments \| Cash flow hedges
Derivative [Line Items]
Derivative term of contract	4 months
Derivative, notional amount	$ 119.6	$ 90.5
Cash flow hedge gains to be reclassified within twelve months	$ 2
Foreign exchange forward and swap \| Not designated as hedging instrument
Derivative [Line Items]
Derivative term of contract	1 month
Derivative, notional amount	$ 93.8	$ 79.4

Derivative Financial Instrume_4

Derivative Financial Instruments - Gains and Losses on Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Amounts of gains and losses on the derivative instruments
Amount of Gain (Loss) Deferred as a Component of Accumulated Other Comprehensive Loss	$ 1,582	$ (704)
Amount of Loss (Gain) Reclassified from Accumulated Other Comprehensive Loss to Costs of Goods Sold	(733)	2,986
Designated as hedging instruments \| Cash flow hedges
Amounts of gains and losses on the derivative instruments
Amount of Gain (Loss) Deferred as a Component of Accumulated Other Comprehensive Loss	1,582	(704)
Amount of Loss (Gain) Reclassified from Accumulated Other Comprehensive Loss to Costs of Goods Sold	$ (733)	$ 2,986

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Schedule of Activity In Goodwill Balance (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2024 USD ($)
Goodwill
Balance at the beginning of the period	$ 461,978
Effects of foreign currency translation	25
Balance at the end of the period	$ 462,003

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Schedule of Intangible Assets Subject to Amortization (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 207,850	$ 207,879
Accumulated Amortization	(168,360)	(163,276)
Net Carrying Amount	39,490	44,603
Effects of foreign currency translation, gross carrying amount	(1,048)	(1,019)
Effects of foreign currency translation, accumulated amortization	381	379
Effects of foreign currency translation, net carrying amount	(667)	(640)
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	32,390	32,390
Accumulated Amortization	(26,473)	(25,739)
Net Carrying Amount	5,917	6,651
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	107,421	107,421
Accumulated Amortization	(89,311)	(86,855)
Net Carrying Amount	18,110	20,566
Customer contracts/relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	69,087	69,087
Accumulated Amortization	(52,957)	(51,061)
Net Carrying Amount	$ 16,130	$ 18,026

Financing Arrangements (Details

Financing Arrangements (Details) - USD ($)	Jun. 30, 2024	Mar. 31, 2024
Financing Arrangements
Outstanding borrowings	$ 0	$ 0
Line of credit
Financing Arrangements
Maximum borrowing capacity	171,800,000	172,500,000
Outstanding bank guarantees	$ 13,500,000	$ 14,300,000

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Changes in Warranty Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Changes in the warranty liability:
Beginning of the period	$ 44,654	$ 40,886
Provision	10,186	9,092
Settlements	(10,038)	(9,918)
Effects of foreign currency translation	(300)	(175)
End of the period	$ 44,502	$ 39,885

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details)	Jun. 30, 2024 USD ($)
Indemnification Agreement
Other Commitments [Line Items]
Amount accrued for indemnification provisions	$ 0

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($) shares in Thousands, $ in Thousands	1 Months Ended	3 Months Ended
	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024
Class of Stock [Line Items]
Aggregate purchase price		$ 132,132	$ 95,076
Maximum percentage of shares held by the company and its subsidiaries	10%		10%
Maximum shares available for purchase (in shares)	17,300		17,300
Stock repurchase program, cancel, percentage		10%
Treasury, at cost, shares (in shares)		20,090		19,243
Shares acquired for cancellation (in shares)		5,600
Shares acquired for equity incentive plans or potential acquisitions (in shares)		14,500
2023 Share Repurchase Program
Class of Stock [Line Items]
Period for which repurchase program will remain in effect (in years)	3 years
Share repurchase, authorized amount (up to)	$ 1,000,000		$ 1,000,000
Stock repurchased (in shares)		1,400	1,600
Aggregate purchase price		$ 132,100	$ 95,100
Aggregate cost of share		20,800
Amount available for repurchase		$ 503,800

Shareholders' Equity - Componen

Shareholders' Equity - Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss)
Beginning of the period	$ 2,233,653	$ 2,257,560
Other comprehensive income (loss)	(4,570)	749
End of the period	2,248,935	2,226,075
Total
Accumulated Other Comprehensive Income (Loss)
Beginning of the period	(111,202)	(100,277)
Other comprehensive income (loss)	(4,570)
End of the period	(115,772)	$ (99,528)
Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss)
Beginning of the period	(103,947)
Other comprehensive income (loss)	(5,219)
End of the period	(109,166)
Defined Benefit Plans
Accumulated Other Comprehensive Income (Loss)
Beginning of the period	(8,395)
Other comprehensive income (loss)	(200)
End of the period	(8,595)
Deferred Hedging Gains
Accumulated Other Comprehensive Income (Loss)
Beginning of the period	1,140
Other comprehensive income (loss)	849
End of the period	$ 1,989

Segment Information - Net Sales

Segment Information - Net Sales by Product Categories, Excluding Intercompany Transactions (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Net sales	$ 1,088,217	$ 974,499
Gaming
Segment Reporting Information [Line Items]
Net sales	309,475	266,429
Keyboards & Combos
Segment Reporting Information [Line Items]
Net sales	215,333	180,855
Pointing Devices
Segment Reporting Information [Line Items]
Net sales	189,946	174,454
Video Collaboration
Segment Reporting Information [Line Items]
Net sales	147,042	139,346
Webcams
Segment Reporting Information [Line Items]
Net sales	72,904	75,200
Tablet Accessories
Segment Reporting Information [Line Items]
Net sales	78,539	70,336
Headsets
Segment Reporting Information [Line Items]
Net sales	44,236	36,850
Other
Segment Reporting Information [Line Items]
Net sales	$ 30,742	$ 31,029

Segment Information - Net Sal_2

Segment Information - Net Sales and Long-Lived Assets by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024
Net sales to unaffiliated customers and long-lived assets by geographic region
Total Sales	$ 1,088,217	$ 974,499
Property, plant and equipment, net	154,270		$ 157,482
Americas
Net sales to unaffiliated customers and long-lived assets by geographic region
Total Sales	485,289	445,168
Property, plant and equipment, net	65,661		67,762
EMEA
Net sales to unaffiliated customers and long-lived assets by geographic region
Total Sales	309,817	258,878
Property, plant and equipment, net	30,919		30,819
Asia Pacific
Net sales to unaffiliated customers and long-lived assets by geographic region
Total Sales	293,111	$ 270,453
Property, plant and equipment, net	$ 57,690		$ 58,901

Segment Information - Narrative

Segment Information - Narrative (Details) $ in Thousands	3 Months Ended
Segment Information - Narrative (Details) $ in Thousands	Jun. 30, 2024 USD ($) segment	Jun. 30, 2023	Mar. 31, 2024 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments (in segments) \| segment	1
Long lived assets	$ 154,270		$ 157,482
United States
Segment Reporting Information [Line Items]
Long lived assets	64,300		66,500
China
Segment Reporting Information [Line Items]
Long lived assets	40,900		41,200
Ireland
Segment Reporting Information [Line Items]
Long lived assets	15,700		16,200
Switzerland
Segment Reporting Information [Line Items]
Long lived assets	$ 7,700		$ 9,000
Geographic concentration \| Consolidated net sales from continuing operations \| Switzerland
Segment Reporting Information [Line Items]
Percentage of consolidated net sales	2%	2%