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Shareholders' Equity | 9 Months Ended
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Dec. 31, 2024
Stockholders' Equity Note [Abstract] |
Shareholders' Equity | Shareholders’ Equity Share Capital As of December 31, 2024, the Company's nominal share capital is CHF 42.2 million, consisting of 168,994,142 issued shares with a par value of CHF 0.25 each, of which 19,555,027 were held in treasury shares. The capital band under Swiss law allows a company's board of directors to adjust the company's share capital within a predefined range based on a general authority granted by the company's shareholders. At the 2023 Annual General Meeting ("AGM"), the Company's shareholders approved an amendment to the Company’s Articles of Incorporation to introduce a capital band provision authorizing the Board of Directors to adjust the Company's share capital, without additional shareholder approval, within a range of 155,795,958 registered shares to 190,417,282 registered shares for the five-year period ending on September 13, 2028. In addition, the Company has reserved conditional capital (1) up to 25,000,000 shares for potential issuance for the exercise of rights granted under the Company's employee equity incentive plans, and (2) up to 25,000,000 shares for issuance to cover any conversion rights under any potential future convertible bond issuance. 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 the quarter ended December 31, 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. 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 nine months ended December 31, 2024, the Company repurchased 5.3 million shares for an aggregate cost of $461.4 million under the 2023 share repurchase program for cancellation, of which $17.6 million of the aggregate cost was not paid yet as of December 31, 2024. As of December 31, 2024, $174.8 m illion was available for repurchase under the 2023 share repurchase program. During the nine months ended December 31, 2023, the Company repurchased 3.0 million shares for an aggregate cost of $232.5 million under the 2023 share repurchase program for cancellation, of which $14.8 million of the aggregate cost was not paid yet as of December 31, 2023. 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 nine months ended December 31, 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 issued share capital of the Company, which for the Company corresponds to approximately 16.9 million registered shares as of December 31, 2024. 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. As of December 31, 2024, the Company had a total of 19.6 million shares held in treasury stock, which includes 5.3 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. Dividends During the nine months ended December 31, 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 nine months ended December 31, 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 |  | Total
March 31, 2024 |  | $ | (103,947) |  |  | $ | (8,395) |  |  | $ | 1,140 |  |  | $ | (111,202) |
Other comprehensive income (loss) |  | (23,998) |  |  | (501) |  |  | 1,379 |  |  | (23,120) |
December 31, 2024 |  | $ | (127,945) |  |  | $ | (8,896) |  |  | $ | 2,519 |  |  | $ | (134,322) |

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