Commitments and Contingencies

6 Months Ended

Sep. 30, 2019

Commitments and Contingencies Disclosure [Abstract]

Product Warranties

Changes in the Company’s warranty liability for the three and six months ended September 30, 2019 and 2018 were as follows (in thousands):



	Three Months Ended September 30,						Six Months Ended September 30,
	2019			2018			2019			2018
Beginning of the period	$	35,814		$	28,853		$	34,229		$	27,573
Assumed from business acquisition	—			351			—			351
Provision	8,509			11,020			17,044			19,320
Settlements	(6,727		)	(8,330		)	(13,704		)	(14,882		)
Currency translation	(374		)	(140		)	(347		)	(608		)
End of the period	$	37,222		$	31,754		$	37,222		$	31,754

Indemnifications

The Company indemnifies certain of its 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, 2019, no amounts have been accrued for these 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 of its 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 limited, 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 a small number of legal proceedings. The Company believes that these matters lack merit and intends to vigorously defend against them. 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 or 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 or results of operations in a particular period. Any claims or proceedings against the Company, whether meritorious or not, 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.

Pending Acquisition

On September 26, 2019, the Company entered into an agreement to acquire all equity interests of General Workings, Inc. ("Streamlabs") for a total consideration of $89 million in cash, subject to a working capital adjustment, plus an additional earn-out of up to $29 million in stock based on the achievement of certain net revenues for the period beginning on January 1, 2020 and ending on June 30, 2020 (the "Streamlabs Acquisition"). Streamlabs is a leading provider of software and tools for professional streamers. The Streamlabs Acquisition will supplement the Company's portfolio opportunities.

The transaction is subject to various closing conditions and is expected to close in late October 2019.