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Description of Business and Basis of Presentation (Tables) | 9 Months Ended
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Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Error Corrections and Prior Period Adjustments | Condensed Consolidated Statements of Operations
| Three Months Ended December 31, 2023 |  | Nine Months Ended December 31, 2023
(in thousands) | As Previously Reported |  | Adjustment |  | As Revised |  | As Previously Reported |  | Adjustment |  | As Revised
Net revenues | $ | 1,486,095 |  |  | $ | (52) |  |  | $ | 1,486,043 |  |  | $ | 4,369,817 |  |  | $ | (135) |  |  | $ | 4,369,682 |
Cost of goods sold | 814,914 |  |  | 490 |  |  | 815,404 |  |  | 2,338,905 |  |  | 120 |  |  | 2,339,025 |
Gross profit | 671,181 |  |  | (542) |  |  | 670,639 |  |  | 2,030,912 |  |  | (255) |  |  | 2,030,657 |
Selling, general and administrative expenses | 601,661 |  |  | (2,431) |  |  | 599,230 |  |  | 1,794,703 |  |  | 2,649 |  |  | 1,797,352 |
Income (loss) from operations | 69,520 |  |  | 1,889 |  |  | 71,409 |  |  | 236,209 |  |  | (2,904) |  |  | 233,305 |
Interest income (expense), net | (211) |  |  | — |  |  | (211) |  |  | (2,210) |  |  | — |  |  | (2,210) |
Other income (expense), net | 49,636 |  |  | (1,709) |  |  | 47,927 |  |  | 36,822 |  |  | (1,059) |  |  | 35,763 |
Income (loss) before income taxes | 118,945 |  |  | 180 |  |  | 119,125 |  |  | 270,821 |  |  | (3,963) |  |  | 266,858 |
Income tax expense (benefit) | 4,999 |  |  | 3,570 |  |  | 8,569 |  |  | 38,464 |  |  | 2,869 |  |  | 41,333 |
Income (loss) from equity method investments | 197 |  |  | — |  |  | 197 |  |  | (51) |  |  | — |  |  | (51) |
Net income (loss) | $ | 114,143 |  |  | $ | (3,390) |  |  | $ | 110,753 |  |  | $ | 232,306 |  |  | $ | (6,832) |  |  | $ | 225,474 |
Basic net income (loss) per share | $ | 0.26 |  |  | $ | (0.01) |  |  | $ | 0.25 |  |  | $ | 0.53 |  |  | $ | (0.02) |  |  | $ | 0.51 |
Diluted net income (loss) per share | $ | 0.26 |  |  | $ | (0.01) |  |  | $ | 0.25 |  |  | $ | 0.52 |  |  | $ | (0.02) |  |  | $ | 0.50 |
Condensed Consolidated Statements of Cash Flows
| Nine Months Ended December 31, 2023
(in thousands) | As Previously Reported |  | Adjustment |  | As Revised
Cash flows from operating activities |  |  |  |  |
Net income (loss) | $ | 232,306 |  |  | $ | (6,832) |  |  | $ | 225,474 |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities |  |  |  |  |
Depreciation and amortization | 106,685 |  |  | (4,572) |  |  | 102,113 |
Unrealized foreign currency exchange rate (gain) loss | (904) |  |  | — |  |  | (904) |
Loss on disposal of property and equipment | 746 |  |  | — |  |  | 746 |
Amortization of bond premium and debt issuance costs | 1,565 |  |  | — |  |  | 1,565 |
Stock-based compensation | 33,163 |  |  | — |  |  | 33,163 |
Deferred income taxes | (24,430) |  |  | — |  |  | (24,430) |
Changes in reserves and allowances | 25,085 |  |  | — |  |  | 25,085 |
Changes in operating assets and liabilities: |  |  |  |  |
Accounts receivable | 55,912 |  |  | 2,132 |  |  | 58,044 |
Inventories | 71,400 |  |  | 1,178 |  |  | 72,578 |
Prepaid expenses and other assets | (45,363) |  |  | (10,898) |  |  | (56,261) |
Other non-current assets | 42,149 |  |  | (4,655) |  |  | 37,494 |
Accounts payable | 31,470 |  |  | 630 |  |  | 32,100 |
Accrued expenses and other liabilities | (42,630) |  |  | 3,893 |  |  | (38,737) |
Customer refund liability | 80 |  |  | — |  |  | 80 |
Income taxes payable and receivable | 5,884 |  |  | 2,869 |  |  | 8,753 |
Net cash provided by (used in) operating activities | 493,118 |  |  | (16,255) |  |  | 476,863 |
Cash flows from investing activities |  |  |  |  |
Purchases of property and equipment | (132,796) |  |  | 16,255 |  |  | (116,541) |
Sale of MyFitnessPal platform | 45,000 |  |  | — |  |  | 45,000 |
Net cash provided by (used in) investing activities | (87,796) |  |  | 16,255 |  |  | (71,541) |
Cash flows from financing activities |  |  |  |  |
Net cash provided by (used in) financing activities | (74,985) |  |  | — |  |  | (74,985) |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | 136 |  |  | — |  |  | 136 |
Net increase (decrease) in cash, cash equivalents and restricted cash | 330,473 |  |  | — |  |  | 330,473 |
Cash, cash equivalents and restricted cash |  |  |  |  |
Beginning of period | 727,726 |  |  | (981) |  |  | 726,745 |
End of period | $ | 1,058,199 |  |  | $ | (981) |  |  | $ | 1,057,218 |

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- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-8 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-7 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147483443/250-10-50-9 + Details
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