Logitech International (LOGI) 10-Q24 Oct 242025 Q2 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	6 Months Ended
Cover Page - shares	Sep. 30, 2024	Oct. 10, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 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		151,579,551
Entity Central Index Key	0001032975
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Net sales	$ 1,116,034	$ 1,057,008	$ 2,204,251	$ 2,031,507
Cost of goods sold	627,491	615,403	1,247,008	1,211,115
Amortization of intangible assets	2,452	2,983	4,894	6,128
Gross profit	486,091	438,622	952,349	814,264
Operating expenses:
Marketing and selling	201,863	176,356	398,768	355,541
Research and development	76,205	68,559	151,512	139,118
General and administrative	44,173	35,538	81,631	76,835
Amortization of intangible assets and acquisition-related costs	2,725	3,318	5,428	6,003
Restructuring charges (credits), net	229	(1,788)	615	1,723
Total operating expenses	325,195	281,983	637,954	579,220
Operating income	160,896	156,639	314,395	235,044
Interest income	14,637	11,856	30,427	21,682
Other income (expense), net	533	(1,044)	(1,365)	(14,016)
Income before income taxes	176,066	167,451	343,457	242,710
Provision for income taxes	30,583	30,334	56,141	42,866
Net income	$ 145,483	$ 137,117	$ 287,316	$ 199,844
Net income per share:
Basic (in dollars per share)	$ 0.95	$ 0.87	$ 1.88	$ 1.26
Diluted (in dollars per share)	$ 0.95	$ 0.86	$ 1.86	$ 1.25
Weighted average shares used to compute net income per share:
Basic (in shares)	152,460	157,911	152,875	158,385
Diluted (in shares)	153,672	158,934	154,320	159,545

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 145,483	$ 137,117	$ 287,316	$ 199,844
Currency translation gain (loss):
Currency translation gain (loss), net of taxes	20,789	(10,622)	15,570	(12,151)
Defined benefit plans:
Reclassification of amortization included in other income (expense), net	(552)	(244)	(752)	(248)
Hedging gain (loss):
Deferred hedging gain (loss), net of taxes	(2,931)	2,078	(1,349)	1,374
Reclassification of hedging loss (gain) included in cost of goods sold	(906)	1,370	(1,639)	4,356
Total other comprehensive income (loss)	16,400	(7,418)	11,830	(6,669)
Total comprehensive income	$ 161,883	$ 129,699	$ 299,146	$ 193,175

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Mar. 31, 2024
Current assets:
Cash and cash equivalents	$ 1,363,276	$ 1,520,842
Accounts receivable, net	629,278	541,715
Inventories	520,493	422,513
Other current assets	146,511	146,270
Total current assets	2,659,558	2,631,340
Non-current assets:
Property, plant and equipment, net	112,357	116,589
Goodwill	463,712	461,978
Other intangible assets, net	34,810	44,603
Other assets	374,056	350,194
Total assets	3,644,493	3,604,704
Current liabilities:
Accounts payable	555,490	448,627
Accrued and other current liabilities	646,831	637,262
Total current liabilities	1,202,321	1,085,889
Non-current liabilities:
Income taxes payable	125,779	112,572
Other non-current liabilities	204,499	172,590
Total liabilities	1,532,599	1,371,051
Commitments and contingencies (Note 10)
Shareholders’ equity:
Registered shares, CHF 0.25 par value: Issued shares — 173,106 at September 30, 2024 and March 31, 2024 Additional shares that may be issued out of conditional capital —50,000 at September 30, 2024 and March 31, 2024 Additional shares that may be issued out of authorized capital — 17,311 at September 30, 2024 and March 31, 2024	30,148	30,148
Additional paid-in capital	72,268	63,524
Shares in treasury, at cost — 21,270 at September 30, 2024 and 19,243 at March 31, 2024	(1,518,149)	(1,351,336)
Retained earnings	3,626,999	3,602,519
Accumulated other comprehensive loss	(99,372)	(111,202)
Total shareholders’ equity	2,111,894	2,233,653
Total liabilities and shareholders’ equity	$ 3,644,493	$ 3,604,704

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - SFr / shares shares in Thousands	Sep. 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 capital (in shares)	17,311	17,311
Treasury, at cost, shares (in shares)	21,270	19,243

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income	$ 287,316	$ 199,844
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	29,103	34,135
Amortization of intangible assets	10,171	11,509
Loss on investments	1,599	11,609
Share-based compensation expense	49,874	43,579
Deferred income taxes	16,489	11,108
Other	57	100
Changes in assets and liabilities, net of acquisitions:
Accounts receivable, net	(81,568)	(35,362)
Inventories	(93,907)	146,369
Other assets	2,241	11,999
Accounts payable	108,376	88,022
Accrued and other liabilities	12,280	(59,853)
Net cash provided by operating activities	342,031	463,059
Cash flows from investing activities:
Purchases of property, plant and equipment	(29,113)	(34,731)
Acquisitions, net of cash acquired	0	(14,138)
Purchases of deferred compensation investments	(3,600)	(2,548)
Proceeds from sales of deferred compensation investments	2,299	2,622
Other investing activities	(912)	(356)
Net cash used in investing activities	(31,326)	(49,151)
Cash flows from financing activities:
Payment of cash dividends	(207,853)	(182,305)
Payment of contingent consideration for business acquisition	(1,245)	(5,002)
Purchases of registered shares	(263,185)	(188,941)
Proceeds from exercises of stock options and purchase rights	20,235	15,319
Tax withholdings related to net share settlements of restricted stock units	(21,243)	(26,224)
Other financing activities	(1,663)	(1,116)
Net cash used in financing activities	(474,954)	(388,269)
Effect of exchange rate changes on cash and cash equivalents	6,683	(10,758)
Net increase (decrease) in cash and cash equivalents	(157,566)	14,881
Cash and cash equivalents, beginning of the period	1,520,842	1,149,023
Cash and cash equivalents, end of the period	1,363,276	1,163,904
Non-cash investing and financing activities:
Property, plant and equipment purchased during the period and included in period end liability accounts	6,207	9,218
Right-of-use assets obtained in exchange for operating lease liabilities	22,386	2,574
Supplemental cash flow information:
Income taxes paid, net	$ 17,103	$ 17,408

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 (in shares) at Mar. 31, 2023		173,106
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				13,763
Increase (Decrease) in Shareholders' Equity
Total comprehensive income	193,175				199,844	(6,669)
Purchases of registered shares (in shares)				3,502
Purchases of registered shares	(219,172)			$ (219,172)
Sales of shares upon exercise of stock options and purchase rights	15,319		(15,755)	$ 31,074
Sales of shares upon exercise of stock options and purchase rights (in shares)				(315)
Issuance of shares upon vesting of restricted stock units	(26,224)		(108,120)	$ 81,896
Issuance of shares upon vesting of restricted stock units (in shares)				(921)
Share-based compensation	43,806		43,806
Cash dividends	(187,199)				(187,199)
End of the period (in shares) at Sep. 30, 2023		173,106
End of the period at Sep. 30, 2023	2,077,265	$ 30,148	47,311	$ (1,083,468)	3,190,220	(106,946)
End of the period (in shares) at Sep. 30, 2023				16,029
Beginning of the period (in shares) at Jun. 30, 2023		173,106
Beginning of the period at Jun. 30, 2023	2,226,075	$ 30,148	49,734	$ (994,581)	3,240,302	(99,528)
Beginning of the period (in shares) at Jun. 30, 2023				14,484
Increase (Decrease) in Shareholders' Equity
Total comprehensive income	129,699				137,117	(7,418)
Purchases of registered shares (in shares)				1,895
Purchases of registered shares	(124,096)			$ (124,096)
Sales of shares upon exercise of stock options and purchase rights	13,206		(13,888)	$ 27,094
Sales of shares upon exercise of stock options and purchase rights (in shares)				(267)
Issuance of shares upon vesting of restricted stock units	(2,028)		(10,143)	$ 8,115
Issuance of shares upon vesting of restricted stock units (in shares)				(83)
Share-based compensation	21,608		21,608
Cash dividends	(187,199)				(187,199)
End of the period (in shares) at Sep. 30, 2023		173,106
End of the period at Sep. 30, 2023	2,077,265	$ 30,148	47,311	$ (1,083,468)	3,190,220	(106,946)
End of the period (in shares) at Sep. 30, 2023				16,029
Beginning of the period (in shares) at Mar. 31, 2024		173,106
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	19,243			19,243
Increase (Decrease) in Shareholders' Equity
Total comprehensive income	$ 299,146				287,316	11,830
Purchases of registered shares (in shares)				2,900
Purchases of registered shares	(262,119)			$ (262,119)
Sales of shares upon exercise of stock options and purchase rights	20,235		(6,065)	$ 29,567	(3,267)
Sales of shares upon exercise of stock options and purchase rights (in shares)				(273)
Issuance of shares upon vesting of restricted stock units	(21,243)		(35,394)	$ 65,739	(51,588)
Issuance of shares upon vesting of restricted stock units (in shares)				(600)
Share-based compensation	50,203		50,203
Cash dividends	(207,981)				(207,981)
End of the period (in shares) at Sep. 30, 2024		173,106
End of the period at Sep. 30, 2024	$ 2,111,894	$ 30,148	72,268	$ (1,518,149)	3,626,999	(99,372)
End of the period (in shares) at Sep. 30, 2024	21,270			21,270
Beginning of the period (in shares) at Jun. 30, 2024		173,106
Beginning of the period at Jun. 30, 2024	$ 2,248,935	$ 30,148	57,036	$ (1,418,051)	3,695,574	(115,772)
Beginning of the period (in shares) at Jun. 30, 2024				20,090
Increase (Decrease) in Shareholders' Equity
Total comprehensive income	161,883				145,483	16,400
Purchases of registered shares (in shares)				1,456
Purchases of registered shares	(129,987)			$ (129,987)
Sales of shares upon exercise of stock options and purchase rights	15,617		(4,526)	$ 23,410	(3,267)
Sales of shares upon exercise of stock options and purchase rights (in shares)				(216)
Issuance of shares upon vesting of restricted stock units	(2,390)		(6,059)	$ 6,479	(2,810)
Issuance of shares upon vesting of restricted stock units (in shares)				(60)
Share-based compensation	25,817		25,817
Cash dividends	(207,981)				(207,981)
End of the period (in shares) at Sep. 30, 2024		173,106
End of the period at Sep. 30, 2024	$ 2,111,894	$ 30,148	$ 72,268	$ (1,518,149)	$ 3,626,999	$ (99,372)
End of the period (in shares) at Sep. 30, 2024	21,270			21,270

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical)	3 Months Ended				6 Months Ended
	Sep. 30, 2024 $ / shares	Sep. 30, 2024 SFr / shares	Sep. 30, 2023 $ / shares	Sep. 30, 2023 SFr / shares	Sep. 30, 2024 $ / shares	Sep. 30, 2024 SFr / shares	Sep. 30, 2023 $ / shares	Sep. 30, 2023 SFr / shares
Statement of Stockholders' Equity [Abstract]
Cash dividends per share (in dollars per share) \| (per share)	$ 1.37	SFr 1.16	$ 1.19	SFr 1.06	$ 1.37	SFr 1.16	$ 1.19	SFr 1.06

The Company and Summary of Sign

The Company and Summary of Significant Accounting Policies and Estimates	6 Months Ended
	Sep. 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 and six months ended September 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 and six months ended September 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. 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, geopolitical conflicts, 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	6 Months Ended
Net Income Per Share	Sep. 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 and six months ended September 30, 2024 and 2023 (in thousands, except per share amounts): Three months ended September 30, Six months ended September 30, 2024 2023 2024 2023 Net income $ 145,483 $ 137,117 $ 287,316 $ 199,844 Shares used in net income per share computation: Weighted average shares outstanding - basic 152,460 157,911 152,875 158,385 Effect of potentially dilutive equivalent shares 1,212 1,023 1,445 1,160 Weighted average shares outstanding - diluted 153,672 158,934 154,320 159,545 Net income per share: Basic $ 0.95 $ 0.87 $ 1.88 $ 1.26 Diluted $ 0.95 $ 0.86 $ 1.86 $ 1.25 Share equivalents attributable to outstanding stock options, restricted stock units and employee share purchase plans totaling 0.9 million and 1.1 million for the three months ended September 30, 2024 and 2023, respectively, and 1.0 million and 1.6 million for the six months ended September 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	6 Months Ended
Employee Benefit Plans	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Employee Benefit Plans	Employee Benefit Plans Employee Share Purchase Plans and Stock Incentive Plans As of September 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 and six months ended September 30, 2024 and 2023 (in thousands): Three months ended September 30, Six months ended September 30, 2024 2023 2024 2023 Cost of goods sold $ 3,902 $ 2,462 $ 6,500 $ 3,877 Marketing and selling 10,469 9,262 22,320 19,745 Research and development 5,067 4,694 10,806 9,147 General and administrative 7,031 5,650 10,248 10,810 Total share-based compensation expense 26,469 22,068 49,874 43,579 Income tax benefit (4,776) (2,548) (12,378) (7,866) Total share-based compensation expense, net of income tax benefit $ 21,693 $ 19,520 $ 37,496 $ 35,713 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 $1.8 million and $1.5 million for the three months ended September 30, 2024 and 2023, respectively, and $4.3 million and $3.4 million for the six months ended September 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 $1.8 million and $1.9 million recorded for the three months ended September 30, 2024 and 2023, respectively, and $3.5 million and $3.8 million recorded for the six months ended September 30, 2024 and 2023, respectively, were primarily related to service costs.

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Sep. 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 and six months ended September 30, 2024 was $30.6 million and $56.1 million based on an effective income tax rate of 17.4% and 16.3% of pre-tax income, respectively. The income tax provision for the same periods ended September 30, 2023 was $30.3 million and $42.9 million based on an effective income tax rate of 18.1% and 17.7% of pre-tax income, respectively. The change in the effective income tax rate for the three and six months ended September 30, 2024, compared with the same periods ended September 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 unrecognized tax benefits due to uncertain tax positions. 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	6 Months Ended
Balance Sheet Components	Sep. 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): September 30, 2024 March 31, 2024 Accounts receivable, net: Accounts receivable $ 862,485 $ 744,836 Allowance for sales returns (13,521) (10,180) Allowance for cooperative marketing arrangements (43,782) (41,634) Allowance for customer incentive programs (74,841) (60,027) Allowance for pricing programs (101,063) (91,280) $ 629,278 $ 541,715 Inventories: Raw materials $ 55,634 $ 65,209 Finished goods 464,859 357,304 $ 520,493 $ 422,513 Other current assets: Value-added tax ("VAT") receivables $ 67,720 $ 41,172 Prepaid expenses and other assets 78,791 105,098 $ 146,511 $ 146,270 Property, plant and equipment, net: Property, plant and equipment $ 523,536 $ 503,882 Less: accumulated depreciation and amortization (411,179) (387,293) $ 112,357 $ 116,589 Other assets: Deferred tax assets $ 227,009 $ 224,831 Right-of-use assets 79,076 61,163 Investments for deferred compensation plan 31,929 29,174 Investments in privately held companies 27,976 28,662 Other assets 8,066 6,364 $ 374,056 $ 350,194 The following table presents the components of certain balance sheet liability amounts (in thousands): September 30, 2024 March 31, 2024 Accrued and other current liabilities: Accrued customer marketing, pricing and incentive programs $ 182,559 $ 170,371 Accrued personnel expenses 124,571 145,473 Income taxes payable 45,093 24,196 Warranty liabilities 32,100 30,270 VAT payable 27,638 28,253 Accrued sales return liability 27,275 30,098 Deferred revenue (1) 23,097 19,262 Accrued loss for inventory purchase commitments 21,807 29,349 Operating lease liabilities 16,011 15,107 Other current liabilities 146,680 144,883 $ 646,831 $ 637,262 Other non-current liabilities: Operating lease liabilities $ 79,100 $ 61,920 Employee benefit plan obligations 43,662 42,707 Obligation for deferred compensation plan 31,929 29,174 Deferred revenue (1) 31,512 21,097 Warranty liabilities 14,733 14,384 Deferred tax liabilities 744 705 Other non-current liabilities 2,819 2,603 $ 204,499 $ 172,590 (1) Includes deferred revenue for post-contract customer support and other services.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Sep. 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): September 30, 2024 March 31, 2024 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets: Cash equivalents $ 926,645 $ — $ — $ 1,042,604 $ — $ — Investments for deferred compensation plan included in other assets: Cash $ 203 $ — $ — $ 312 $ — $ — Common stock 710 — — 573 — — Money market funds 8,456 — — 8,129 — — Mutual funds 22,560 — — 20,160 — — Total investments for deferred compensation plan $ 31,929 $ — $ — $ 29,174 $ — $ — Currency derivative assets $ — $ 168 $ — $ — $ 913 $ — Liabilities: Contingent consideration included in accrued and other current liabilities $ — $ — $ — $ — $ — $ 1,215 Currency derivative liabilities $ — $ 714 $ — $ — $ 573 $ — Investments for Deferred Compensation Plan The marketable securities for the Company's deferred compensation plan were recorded at a fair value of $31.9 million and $29.2 million, as of September 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 and six months ended September 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 $18.6 million and $18.0 million as of September 30, 2024 and March 31, 2024, respectively. Gains (losses) related to equity method investments for the three and six months ended September 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 and six months ended September 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 $8.8 million and $10.1 million as of September 30, 2024 and March 31, 2024, respectively. The impairment charges related to these equity investments were not material during the three and six months ended September 30, 2024. There were no impairment charges related to these equity investments during the three and six months ended September 30, 2023. During the six months ended September 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 six months ended September 30, 2023. Non-Financial Assets

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
Derivative Financial Instruments	Sep. 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 September 30, 2024 and March 31, 2024. See Note 6 for the fair values of the Company’s derivative instruments as of September 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 $144.4 million and $90.5 million as of September 30, 2024 and March 31, 2024, respectively. The Company had $1.8 million of net loss related to its cash flow hedges included in accumulated other comprehensive loss as of September 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 and six months ended September 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 September 30, Amount of Gain (Loss) Amount of Loss (Gain) 2024 2023 2024 2023 Cash flow hedges $ (2,931) $ 2,078 $ (906) $ 1,370 Six months ended September 30, Amount of Gain (Loss) Amount of Loss (Gain) 2024 2023 2024 2023 Cash flow hedges $ (1,349) $ 1,374 $ (1,639) $ 4,356 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 September 30, 2024 and March 31, 2024 were $121.4 million and $79.4 million, respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
Goodwill and Other Intangible Assets	Sep. 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 and six months ended September 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 1,734 As of September 30, 2024 $ 463,712 The Company's acquired intangible assets were as follows (in thousands): September 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 $ (27,207) $ 5,183 $ 32,390 $ (25,739) $ 6,651 Developed technology 107,421 (91,768) 15,653 107,421 (86,855) 20,566 Customer contracts/relationships 69,087 (54,854) 14,233 69,087 (51,061) 18,026 Effects of foreign currency translation (289) 30 (259) (1,019) 379 (640) Total $ 208,609 $ (173,799) $ 34,810 $ 207,879 $ (163,276) $ 44,603

Financing Arrangements

Financing Arrangements	6 Months Ended
Financing Arrangements	Sep. 30, 2024
Debt Disclosure [Abstract]
Financing Arrangements	Financing Arrangements

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Sep. 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 and six months ended September 30, 2024 and 2023 were as follows (in thousands): Three months ended September 30, Six months ended September 30, 2024 2023 2024 2023 Beginning of the period $ 44,502 $ 39,885 $ 44,654 $ 40,886 Provision 11,776 10,393 21,962 19,485 Settlements (9,975) (9,838) (20,013) (19,756) Effects of foreign currency translation 530 (175) 230 (350) End of the period $ 46,833 $ 40,265 $ 46,833 $ 40,265 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 September 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	6 Months Ended
Shareholders' Equity	Sep. 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 six months ended September 30, 2024, the Company repurchased 2.9 million shares for an aggregate cost of $262.1 million under the 2023 share repurchase program for cancellation, of which $18.4 million of the aggregate cost was not paid yet as of September 30, 2024. As of September 30, 2024 , $373.9 m illion was available for repurchase under the 2023 share repurchase program. During the six months ended September 30, 2023, the Company repurchased 0.9 million shares for an aggregate cost of $60.1 million under the 2023 share repurchase program for cancellation. In addition, the Company repurchased 2.6 million shares for an aggregate cost of $159.1 million under the previous share repurchase program during the six months ended September 30, 2023. This previous share repurchase 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 September 30, 2024, the Company had a total of 21.3 million shares held in treasury stock, which includes 7.0 million shares that have been repurchased for cancellation and 14.3 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. Share Cancellation In September 2024, the Company's Board of Directors approved the cancellation of 4.1 million treasury shares, which were repurchased in fiscal year 2024 for an aggregate cost of $332.1 million under the 2023 share repurchase program. The cancellation became effective in October 2024, and as a result both the number of registered shares issued and the number of treasury shares outstanding decreased by 4.1 million shares. Upon cancellation of these shares, the Company deducted the par value from registered shares and reflected the excess of share repurchase cost over par value as a reduction to retained earnings. Dividends During the three and six months ended September 30, 2024, the Company declared cash dividends of CHF 1.16 (USD equivalent of $1.37 based on the exchange rate on the date of declaration) per share and paid a total of $207.9 million on the Company's outstanding shares. During the three and six months ended September 30, 2023, the Company declared cash dividends of CHF 1.06 (USD equivalent of $1.19 based on the exchange rate on the date of declaration) per share and paid a total of $182.3 million on the Company's outstanding shares. Any future dividends will be subject to approval of the Company's shareholders. Accumulated Other Comprehensive Loss The accumulated other comprehensive loss was as follows (in thousands): Currency Translation Adjustment Defined Benefit Plans Deferred Hedging Gains (Losses) Total March 31, 2024 $ (103,947) $ (8,395) $ 1,140 $ (111,202) Other comprehensive income (loss) 15,570 (752) (2,988) 11,830 September 30, 2024 $ (88,377) $ (9,147) $ (1,848) $ (99,372)

Segment Information

Segment Information	6 Months Ended
Segment Information	Sep. 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 (credits), 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 and six months ended September 30, 2024 and 2023 were as follows (in thousands): Three months ended September 30, Six months ended September 30, 2024 2023 2024 2023 Gaming (1) $ 300,470 $ 282,104 $ 609,945 $ 548,533 Keyboards & Combos 209,936 194,914 425,269 375,769 Pointing Devices 195,936 191,676 385,882 366,130 Video Collaboration 159,660 152,389 306,702 291,735 Webcams 80,249 88,222 153,153 163,422 Tablet Accessories 85,614 63,677 164,153 134,013 Headsets 46,916 44,411 91,152 81,261 Other (2) 37,253 39,615 67,995 70,644 Total Sales $ 1,116,034 $ 1,057,008 $ 2,204,251 $ 2,031,507 (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 and six months ended September 30, 2024 and 2023 were as follows (in thousands): Three months ended September 30, Six months ended September 30, 2024 2023 2024 2023 Americas $ 480,081 $ 462,406 $ 965,370 $ 907,574 EMEA 351,886 311,805 661,703 570,683 Asia Pacific 284,067 282,797 577,178 553,250 Total Sales $ 1,116,034 $ 1,057,008 $ 2,204,251 $ 2,031,507 Revenue from sales to customers in the United States, Germany and China 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 3% of the Company's total consolidated sales for each of the three months ended September 30, 2024 and 2023, and 3% and 2% of the Company's total consolidated sales for the six months ended September 30, 2024 and 2023, respectively. Three customers of the Company each represented 10% or more of the total consolidated gross sales for each of the three and six months ended September 30, 2024 and 2023. Property, plant and equipment, net (excluding software) and right-of-use assets by geographic region were as follows (in thousands): September 30, 2024 March 31, 2024 Americas $ 64,591 $ 67,762 EMEA 50,101 30,819 Asia Pacific 56,668 58,901 Total $ 171,360 $ 157,482 Property, plant and equipment, net (excluding software) and right-of-use assets in the United States, China and Ireland, were $62.9 million, $40.0 million, and $15.9 million, respectively, as of September 30, 2024. Property, plant and equipment, net (excluding software) and right-of-use assets in the United States, China, and Ireland were $66.5 million, $41.2 million, and $16.2 million, respectively, as of March 31, 2024.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income	$ 145,483	$ 137,117	$ 287,316	$ 199,844

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
Insider Trading Arrangements	Sep. 30, 2024 shares	Sep. 30, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Samantha Harnett [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On August 28, 2024, Samantha Harnett, our Chief Legal Officer, adopted a Rule 10b5-1 trading arrangement providing for the sale of an aggregate of up to 580 shares of our registered shares acquired by Ms. Harnett under our equity plans. The trading arrangement is intended to satisfy the affirmative defense in Rule 10b5-1(c). The first date that sales of any shares are permitted to be sold under the trading arrangement will be November 27, 2024. The trading arrangement terminates on February 28, 2025, or upon the earlier completion of all transactions thereunder.
Name	Samantha Harnett
Title	Chief Legal Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	August 28, 2024
Expiration Date	February 28, 2025
Arrangement Duration	93 days
Aggregate Available	580	580

The Company and Summary of Si_2

The Company and Summary of Significant Accounting Policies and Estimates (Policies)	6 Months Ended
	Sep. 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 and six months ended September 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 and six months ended September 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	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, geopolitical conflicts, low economic growth in certain regions, and uncertainty in consumer and enterprise demand.

Net Income Per Share (Tables)

Net Income Per Share (Tables)	6 Months Ended
Net Income Per Share (Tables)	Sep. 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 and six months ended September 30, 2024 and 2023 (in thousands, except per share amounts): Three months ended September 30, Six months ended September 30, 2024 2023 2024 2023 Net income $ 145,483 $ 137,117 $ 287,316 $ 199,844 Shares used in net income per share computation: Weighted average shares outstanding - basic 152,460 157,911 152,875 158,385 Effect of potentially dilutive equivalent shares 1,212 1,023 1,445 1,160 Weighted average shares outstanding - diluted 153,672 158,934 154,320 159,545 Net income per share: Basic $ 0.95 $ 0.87 $ 1.88 $ 1.26 Diluted $ 0.95 $ 0.86 $ 1.86 $ 1.25

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
Employee Benefit Plans (Tables)	Sep. 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 and six months ended September 30, 2024 and 2023 (in thousands): Three months ended September 30, Six months ended September 30, 2024 2023 2024 2023 Cost of goods sold $ 3,902 $ 2,462 $ 6,500 $ 3,877 Marketing and selling 10,469 9,262 22,320 19,745 Research and development 5,067 4,694 10,806 9,147 General and administrative 7,031 5,650 10,248 10,810 Total share-based compensation expense 26,469 22,068 49,874 43,579 Income tax benefit (4,776) (2,548) (12,378) (7,866) Total share-based compensation expense, net of income tax benefit $ 21,693 $ 19,520 $ 37,496 $ 35,713

Balance Sheet Components (Table

Balance Sheet Components (Tables)	6 Months Ended
Balance Sheet Components (Tables)	Sep. 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): September 30, 2024 March 31, 2024 Accounts receivable, net: Accounts receivable $ 862,485 $ 744,836 Allowance for sales returns (13,521) (10,180) Allowance for cooperative marketing arrangements (43,782) (41,634) Allowance for customer incentive programs (74,841) (60,027) Allowance for pricing programs (101,063) (91,280) $ 629,278 $ 541,715 Inventories: Raw materials $ 55,634 $ 65,209 Finished goods 464,859 357,304 $ 520,493 $ 422,513 Other current assets: Value-added tax ("VAT") receivables $ 67,720 $ 41,172 Prepaid expenses and other assets 78,791 105,098 $ 146,511 $ 146,270 Property, plant and equipment, net: Property, plant and equipment $ 523,536 $ 503,882 Less: accumulated depreciation and amortization (411,179) (387,293) $ 112,357 $ 116,589 Other assets: Deferred tax assets $ 227,009 $ 224,831 Right-of-use assets 79,076 61,163 Investments for deferred compensation plan 31,929 29,174 Investments in privately held companies 27,976 28,662 Other assets 8,066 6,364 $ 374,056 $ 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): September 30, 2024 March 31, 2024 Accrued and other current liabilities: Accrued customer marketing, pricing and incentive programs $ 182,559 $ 170,371 Accrued personnel expenses 124,571 145,473 Income taxes payable 45,093 24,196 Warranty liabilities 32,100 30,270 VAT payable 27,638 28,253 Accrued sales return liability 27,275 30,098 Deferred revenue (1) 23,097 19,262 Accrued loss for inventory purchase commitments 21,807 29,349 Operating lease liabilities 16,011 15,107 Other current liabilities 146,680 144,883 $ 646,831 $ 637,262 Other non-current liabilities: Operating lease liabilities $ 79,100 $ 61,920 Employee benefit plan obligations 43,662 42,707 Obligation for deferred compensation plan 31,929 29,174 Deferred revenue (1) 31,512 21,097 Warranty liabilities 14,733 14,384 Deferred tax liabilities 744 705 Other non-current liabilities 2,819 2,603 $ 204,499 $ 172,590 (1) Includes deferred revenue for post-contract customer support and other services.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Sep. 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): September 30, 2024 March 31, 2024 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Assets: Cash equivalents $ 926,645 $ — $ — $ 1,042,604 $ — $ — Investments for deferred compensation plan included in other assets: Cash $ 203 $ — $ — $ 312 $ — $ — Common stock 710 — — 573 — — Money market funds 8,456 — — 8,129 — — Mutual funds 22,560 — — 20,160 — — Total investments for deferred compensation plan $ 31,929 $ — $ — $ 29,174 $ — $ — Currency derivative assets $ — $ 168 $ — $ — $ 913 $ — Liabilities: Contingent consideration included in accrued and other current liabilities $ — $ — $ — $ — $ — $ 1,215 Currency derivative liabilities $ — $ 714 $ — $ — $ 573 $ —

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
Derivative Financial Instruments (Tables)	Sep. 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 and six months ended September 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 September 30, Amount of Gain (Loss) Amount of Loss (Gain) 2024 2023 2024 2023 Cash flow hedges $ (2,931) $ 2,078 $ (906) $ 1,370 Six months ended September 30, Amount of Gain (Loss) Amount of Loss (Gain) 2024 2023 2024 2023 Cash flow hedges $ (1,349) $ 1,374 $ (1,639) $ 4,356

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
Goodwill and Other Intangible Assets (Tables)	Sep. 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 1,734 As of September 30, 2024 $ 463,712
Schedule of Intangible Assets Subject to Amortization	The Company's acquired intangible assets were as follows (in thousands): September 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 $ (27,207) $ 5,183 $ 32,390 $ (25,739) $ 6,651 Developed technology 107,421 (91,768) 15,653 107,421 (86,855) 20,566 Customer contracts/relationships 69,087 (54,854) 14,233 69,087 (51,061) 18,026 Effects of foreign currency translation (289) 30 (259) (1,019) 379 (640) Total $ 208,609 $ (173,799) $ 34,810 $ 207,879 $ (163,276) $ 44,603

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
Commitments and Contingencies (Tables)	Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Changes in Warranty Liabilities	Changes in the Company’s warranty liabilities for the three and six months ended September 30, 2024 and 2023 were as follows (in thousands): Three months ended September 30, Six months ended September 30, 2024 2023 2024 2023 Beginning of the period $ 44,502 $ 39,885 $ 44,654 $ 40,886 Provision 11,776 10,393 21,962 19,485 Settlements (9,975) (9,838) (20,013) (19,756) Effects of foreign currency translation 530 (175) 230 (350) End of the period $ 46,833 $ 40,265 $ 46,833 $ 40,265

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
Shareholders' Equity (Tables)	Sep. 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 (Losses) Total March 31, 2024 $ (103,947) $ (8,395) $ 1,140 $ (111,202) Other comprehensive income (loss) 15,570 (752) (2,988) 11,830 September 30, 2024 $ (88,377) $ (9,147) $ (1,848) $ (99,372)

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
Segment Information (Tables)	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule of Net Sales by Product Categories, Excluding Intercompany Transactions	Sales by product category for the three and six months ended September 30, 2024 and 2023 were as follows (in thousands): Three months ended September 30, Six months ended September 30, 2024 2023 2024 2023 Gaming (1) $ 300,470 $ 282,104 $ 609,945 $ 548,533 Keyboards & Combos 209,936 194,914 425,269 375,769 Pointing Devices 195,936 191,676 385,882 366,130 Video Collaboration 159,660 152,389 306,702 291,735 Webcams 80,249 88,222 153,153 163,422 Tablet Accessories 85,614 63,677 164,153 134,013 Headsets 46,916 44,411 91,152 81,261 Other (2) 37,253 39,615 67,995 70,644 Total Sales $ 1,116,034 $ 1,057,008 $ 2,204,251 $ 2,031,507 (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 and six months ended September 30, 2024 and 2023 were as follows (in thousands): Three months ended September 30, Six months ended September 30, 2024 2023 2024 2023 Americas $ 480,081 $ 462,406 $ 965,370 $ 907,574 EMEA 351,886 311,805 661,703 570,683 Asia Pacific 284,067 282,797 577,178 553,250 Total Sales $ 1,116,034 $ 1,057,008 $ 2,204,251 $ 2,031,507
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): September 30, 2024 March 31, 2024 Americas $ 64,591 $ 67,762 EMEA 50,101 30,819 Asia Pacific 56,668 58,901 Total $ 171,360 $ 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		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net income
Net income	$ 145,483	$ 137,117	$ 287,316	$ 199,844
Net income	$ 145,483	$ 137,117	$ 287,316	$ 199,844
Shares used in net income per share computation:
Weighted average shares outstanding - basic (in shares)	152,460	157,911	152,875	158,385
Effect of potentially dilutive equivalent shares (in shares)	1,212	1,023	1,445	1,160
Weighted average shares outstanding - diluted (in shares)	153,672	158,934	154,320	159,545
Net income per share:
Basic (in dollars per share)	$ 0.95	$ 0.87	$ 1.88	$ 1.26
Diluted (in dollars per share)	$ 0.95	$ 0.86	$ 1.86	$ 1.25

Net Income Per Share - Narrativ

Net Income Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Anti-dilutive equivalents shares excluded (in shares)	0.9	1.1	1	1.6

Employee Benefit Plans - Share-

Employee Benefit Plans - Share-based Compensation Expenses and Related Tax Benefits Recognized (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based compensation expense and related tax benefit
Total share-based compensation expense	$ 26,469	$ 22,068	$ 49,874	$ 43,579
Income tax benefit	(4,776)	(2,548)	(12,378)	(7,866)
Total share-based compensation expense, net of income tax benefit	21,693	19,520	37,496	35,713
Cost of goods sold
Share-based compensation expense and related tax benefit
Total share-based compensation expense	3,902	2,462	6,500	3,877
Marketing and selling
Share-based compensation expense and related tax benefit
Total share-based compensation expense	10,469	9,262	22,320	19,745
Research and development
Share-based compensation expense and related tax benefit
Total share-based compensation expense	5,067	4,694	10,806	9,147
General and administrative
Share-based compensation expense and related tax benefit
Total share-based compensation expense	$ 7,031	$ 5,650	$ 10,248	$ 10,810

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Share-based compensation expenses capitalized as inventory	$ 1.8	$ 1.5	$ 4.3	$ 3.4
Net periodic benefit cost	$ 1.8	$ 1.9	$ 3.5	$ 3.8

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 30,583	$ 30,334	$ 56,141	$ 42,866
Effective income tax rates (as a percent)	17.40%	18.10%	16.30%	17.70%
Effective income minimum tax rate			15%

Balance Sheet Components - Comp

Balance Sheet Components - Components of Certain Balance Sheet Asset Amounts (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Mar. 31, 2024
Accounts receivable, net:
Accounts receivable	$ 862,485	$ 744,836
Accounts receivable, net	629,278	541,715
Inventories:
Raw materials	55,634	65,209
Finished goods	464,859	357,304
Inventory, net	520,493	422,513
Other current assets:
Value-added tax ("VAT") receivables	67,720	41,172
Prepaid expenses and other assets	78,791	105,098
Other current assets, total	146,511	146,270
Property, plant and equipment, net:
Property, plant and equipment	523,536	503,882
Less: accumulated depreciation and amortization	(411,179)	(387,293)
Property, plant and equipment, net	112,357	116,589
Other assets:
Deferred tax assets	227,009	224,831
Right-of-use assets	79,076	61,163
Investments for deferred compensation plan	31,929	29,174
Other assets	8,066	6,364
Other assets, total	374,056	350,194
Deferred compensation
Other assets:
Investments in privately held companies	27,976	28,662
Allowance for sales returns
Accounts receivable, net:
Valuation allowance for accounts receivable	(13,521)	(10,180)
Allowance for cooperative marketing arrangements
Accounts receivable, net:
Valuation allowance for accounts receivable	(43,782)	(41,634)
Allowance for customer incentive programs
Accounts receivable, net:
Valuation allowance for accounts receivable	(74,841)	(60,027)
Allowance for pricing programs
Accounts receivable, net:
Valuation allowance for accounts receivable	$ (101,063)	$ (91,280)

Balance Sheet Components - Co_2

Balance Sheet Components - Components of Certain Balance Sheet Liability Amounts (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Mar. 31, 2024
Accrued and other current liabilities:
Accrued customer marketing, pricing and incentive programs	$ 182,559	$ 170,371
Accrued personnel expenses	124,571	145,473
Income taxes payable	45,093	24,196
Warranty liabilities	32,100	30,270
VAT payable	27,638	28,253
Accrued sales return liability	27,275	30,098
Deferred revenue	23,097	19,262
Accrued loss for inventory purchase commitments	21,807	29,349
Operating lease liabilities	16,011	15,107
Other current liabilities	146,680	144,883
Accrued and other current liabilities	646,831	637,262
Other non-current liabilities:
Operating lease liabilities	79,100	61,920
Employee benefit plan obligations	43,662	42,707
Obligation for deferred compensation plan	31,929	29,174
Deferred revenue	31,512	21,097
Warranty liabilities	14,733	14,384
Deferred tax liabilities	744	705
Other non-current liabilities	2,819	2,603
Non-current liabilities	$ 204,499	$ 172,590

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities, Classified by Level (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Mar. 31, 2024
Deferred compensation
Assets:
Investments in privately held companies	$ 27,976	$ 28,662
Recurring \| Level 1
Assets:
Cash equivalents	926,645	1,042,604
Investments in privately held companies	31,929	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	203	312
Recurring \| Level 1 \| Deferred compensation \| Common stock
Assets:
Investments in privately held companies	710	573
Recurring \| Level 1 \| Deferred compensation \| Money market funds
Assets:
Investments in privately held companies	8,456	8,129
Recurring \| Level 1 \| Deferred compensation \| Mutual funds
Assets:
Investments in privately held companies	22,560	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	168	913
Liabilities:
Contingent consideration included in accrued and other current liabilities	0	0
Currency derivative liabilities included in accrued and other current liabilities	714	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	0	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 ($)	3 Months Ended		6 Months Ended
Fair Value Measurements - Narrative (Details) - USD ($)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity method investments	$ 18,600,000		$ 18,600,000		$ 18,000,000
Impairment of non-marketable investments	0	$ 0	0	$ 0
Equity investments included in other assets	8,800,000		8,800,000		10,100,000
Financial assets impairment charges	0		0
Impairment of financial assets		0		0
Impairment loss, before tax				9,600,000
Impairment of non-financial assets	0	$ 0	0	$ 0
Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in privately held companies	$ 31,929,000		$ 31,929,000		$ 29,174,000

Derivative Financial Instrume_3

Derivative Financial Instruments - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Sep. 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	$ 144.4	$ 90.5
Cash flow hedge loss to be reclassified within twelve months	$ 1.8
Foreign exchange forward and swap \| Not designated as hedging instrument
Derivative [Line Items]
Derivative term of contract	1 month
Derivative, notional amount	$ 121.4	$ 79.4

Derivative Financial Instrume_4

Derivative Financial Instruments - Gains and Losses on Derivative Instruments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Amounts of gains and losses on the derivative instruments
Amount of Gain (Loss) Deferred as a Component of Accumulated Other Comprehensive Loss	$ (2,931)	$ 2,078	$ (1,349)	$ 1,374
Amount of Loss (Gain) Reclassified from Accumulated Other Comprehensive Loss to Costs of Goods Sold	(906)	1,370	(1,639)	4,356
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	(2,931)	2,078	(1,349)	1,374
Amount of Loss (Gain) Reclassified from Accumulated Other Comprehensive Loss to Costs of Goods Sold	$ (906)	$ 1,370	$ (1,639)	$ 4,356

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Schedule of Activity In Goodwill Balance (Details) $ in Thousands	6 Months Ended
	Sep. 30, 2024 USD ($)
Goodwill
Balance at the beginning of the period	$ 461,978
Effects of foreign currency translation	1,734
Balance at the end of the period	$ 463,712

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Schedule of Intangible Assets Subject to Amortization (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Mar. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 208,609	$ 207,879
Accumulated Amortization	(173,799)	(163,276)
Net Carrying Amount	34,810	44,603
Effects of foreign currency translation, gross carrying amount	(289)	(1,019)
Effects of foreign currency translation, accumulated amortization	30	379
Effects of foreign currency translation, net carrying amount	(259)	(640)
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	32,390	32,390
Accumulated Amortization	(27,207)	(25,739)
Net Carrying Amount	5,183	6,651
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	107,421	107,421
Accumulated Amortization	(91,768)	(86,855)
Net Carrying Amount	15,653	20,566
Customer contracts/relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	69,087	69,087
Accumulated Amortization	(54,854)	(51,061)
Net Carrying Amount	$ 14,233	$ 18,026

Financing Arrangements (Details

Financing Arrangements (Details) - USD ($)	Sep. 30, 2024	Mar. 31, 2024
Financing Arrangements
Outstanding borrowings	$ 0	$ 0
Line of credit
Financing Arrangements
Maximum borrowing capacity	178,700,000	172,500,000
Outstanding bank guarantees	$ 29,500,000	$ 14,300,000

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Changes in Warranty Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Changes in the warranty liability:
Beginning of the period	$ 44,502	$ 39,885	$ 44,654	$ 40,886
Provision	11,776	10,393	21,962	19,485
Settlements	(9,975)	(9,838)	(20,013)	(19,756)
Effects of foreign currency translation	530	(175)	230	(350)
End of the period	$ 46,833	$ 40,265	$ 46,833	$ 40,265

Commitments and Contingencies_2

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

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) $ / shares in Units, shares in Thousands, $ in Thousands	1 Months Ended		3 Months Ended				6 Months Ended
	Sep. 30, 2024 USD ($) shares	Jun. 30, 2023 USD ($) shares	Sep. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2024 USD ($) SFr / shares shares	Sep. 30, 2023 USD ($) $ / shares	Sep. 30, 2023 SFr / shares	Sep. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2024 USD ($) SFr / shares shares	Sep. 30, 2023 USD ($) $ / shares shares	Sep. 30, 2023 SFr / shares	Mar. 31, 2024 shares
Class of Stock [Line Items]
Aggregate purchase price			$ 129,987		$ 124,096		$ 262,119		$ 219,172
Maximum percentage of shares held by the company and its subsidiaries		10%
Maximum shares available for purchase (in shares) \| shares		17,300
Stock repurchase program, cancel, percentage							10%
Treasury, at cost, shares (in shares) \| shares	21,270		21,270	21,270			21,270	21,270			19,243
Shares acquired for cancellation (in shares) \| shares							7,000
Shares acquired for equity incentive plans or potential acquisitions (in shares) \| shares							14,300
Cash dividends per share declared (in dollars per share) \| (per share)			$ 1.37	SFr 1.16	$ 1.19	SFr 1.06	$ 1.37	SFr 1.16	$ 1.19	SFr 1.06
Payment of cash dividends			$ 207,900		$ 182,300		$ 207,853		$ 182,305
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
Stock repurchased (in shares) \| shares							2,900		900
Aggregate purchase price							$ 262,100		$ 60,100
Aggregate cost of share							18,400
Amount available for repurchase	$ 373,900		$ 373,900	SFr 373,900			$ 373,900	SFr 373,900
Cancellation of treasury shares (in shares) \| shares	4,100
Treasury shares repurchased	$ 332,100
2020 Share Repurchase Program
Class of Stock [Line Items]
Stock repurchased (in shares) \| shares									2,600
Aggregate purchase price									$ 159,100

Shareholders' Equity - Componen

Shareholders' Equity - Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Accumulated Other Comprehensive Income (Loss)
Beginning of the period	$ 2,248,935	$ 2,226,075	$ 2,233,653	$ 2,257,560
Other comprehensive income (loss)	16,400	(7,418)	11,830	(6,669)
End of the period	2,111,894	2,077,265	2,111,894	2,077,265
Total
Accumulated Other Comprehensive Income (Loss)
Beginning of the period	(115,772)	(99,528)	(111,202)	(100,277)
End of the period	(99,372)	$ (106,946)	(99,372)	$ (106,946)
Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss)
Beginning of the period			(103,947)
Other comprehensive income (loss)			15,570
End of the period	(88,377)		(88,377)
Defined Benefit Plans
Accumulated Other Comprehensive Income (Loss)
Beginning of the period			(8,395)
Other comprehensive income (loss)			(752)
End of the period	(9,147)		(9,147)
Deferred Hedging Gains (Losses)
Accumulated Other Comprehensive Income (Loss)
Beginning of the period			1,140
Other comprehensive income (loss)			(2,988)
End of the period	$ (1,848)		$ (1,848)

Segment Information - Net Sales

Segment Information - Net Sales by Product Categories, Excluding Intercompany Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
Net sales	$ 1,116,034	$ 1,057,008	$ 2,204,251	$ 2,031,507
Gaming
Segment Reporting Information [Line Items]
Net sales	300,470	282,104	609,945	548,533
Keyboards & Combos
Segment Reporting Information [Line Items]
Net sales	209,936	194,914	425,269	375,769
Pointing Devices
Segment Reporting Information [Line Items]
Net sales	195,936	191,676	385,882	366,130
Video Collaboration
Segment Reporting Information [Line Items]
Net sales	159,660	152,389	306,702	291,735
Webcams
Segment Reporting Information [Line Items]
Net sales	80,249	88,222	153,153	163,422
Tablet Accessories
Segment Reporting Information [Line Items]
Net sales	85,614	63,677	164,153	134,013
Headsets
Segment Reporting Information [Line Items]
Net sales	46,916	44,411	91,152	81,261
Other
Segment Reporting Information [Line Items]
Net sales	$ 37,253	$ 39,615	$ 67,995	$ 70,644

Segment Information - Net Sal_2

Segment Information - Net Sales and Long-Lived Assets by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2024
Net sales to unaffiliated customers and long-lived assets by geographic region
Total Sales	$ 1,116,034	$ 1,057,008	$ 2,204,251	$ 2,031,507
Property, plant and equipment, net	171,360		171,360		$ 157,482
Americas
Net sales to unaffiliated customers and long-lived assets by geographic region
Total Sales	480,081	462,406	965,370	907,574
Property, plant and equipment, net	64,591		64,591		67,762
EMEA
Net sales to unaffiliated customers and long-lived assets by geographic region
Total Sales	351,886	311,805	661,703	570,683
Property, plant and equipment, net	50,101		50,101		30,819
Asia Pacific
Net sales to unaffiliated customers and long-lived assets by geographic region
Total Sales	284,067	$ 282,797	577,178	$ 553,250
Property, plant and equipment, net	$ 56,668		$ 56,668		$ 58,901

Segment Information - Narrative

Segment Information - Narrative (Details) $ in Thousands	3 Months Ended		6 Months Ended
Segment Information - Narrative (Details) $ in Thousands	Sep. 30, 2024 USD ($)	Sep. 30, 2023	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023	Mar. 31, 2024 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments (in segments) \| segment			1
Long lived assets	$ 171,360		$ 171,360		$ 157,482
United States
Segment Reporting Information [Line Items]
Long lived assets	62,900		62,900		66,500
China
Segment Reporting Information [Line Items]
Long lived assets	40,000		40,000		41,200
Ireland
Segment Reporting Information [Line Items]
Long lived assets	15,900		15,900		16,200
Switzerland
Segment Reporting Information [Line Items]
Long lived assets	$ 26,200		$ 26,200		$ 9,000
Geographic concentration \| Consolidated net sales from continuing operations \| Switzerland
Segment Reporting Information [Line Items]
Percentage of consolidated net sales	3%	3%	3%	2%