v3.26.1
Long-Term Debt
 3 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Long-Term Debt Long-Term Debt
Long-term debt consists of the following, as of the dates indicated:

(In thousands, except percentages)June 30, 2026March 31, 2026
2021 Senior Notes bearing interest at 3.750%, with interest payable on April 1 and October 1 of each year. The 2021 Senior Notes mature on April 1, 2031.
$600,000 $600,000 
2019 Senior Notes bearing interest at 5.125%, with interest payable on January 15 and July 15 of each year. The 2019 Senior Notes mature on January 15, 2028.
400,000 400,000 
Term loans bearing interest, at the Borrower's option, at a rate per annum equal to (i) Term SOFR plus 2.00%, or (ii) an alternate base rate based on the highest of Citibank, N.A.'s prime rate, the overnight Federal Funds Rate plus 0.50% and Term SOFR plus 1.00%. Each of Term SOFR and the alternate base rate are subject to a floor of 0.00% and 1.00%, respectively, due on June 12, 2033.
1,045,000 — 
Total long-term debt (including current portion)2,045,000 1,000,000 
Less: unamortized debt costs(27,315)(6,047)
Less: current maturities(10,450)— 
Long-term debt, net$2,007,235 $993,953 

On June 12, 2026, in conjunction with the acquisition of the OTC Wellness Business, we entered into a Term Loan Credit Agreement (the "Term Loan Credit Agreement") providing for a $1,045.0 million term loan with a seven-year maturity and paid $21.6 million in debt issuance costs. The Term Loan Agreement requires us to make quarterly amortization payments of 0.25% of the aggregate principal amount. The Term Loan Agreement also permits a second draw of up to $95.0 million that could be used for the acquisition of LaCorium Health Australia Pty Limited, Stantail Trading Pty Limited, Stantail International Pty Limited, Brands Worldwide Holdings I.P. Pty Limited, and Laderma Holdings Pty Limited, each an Australian company (collectively, “LaCorium Health”), which we announced on May 13, 2026. Subsequent to June 30, 2026, we borrowed the additional $95.0 million to fund the acquisition of LaCorium Health (see Note 18., Subsequent Events).

Also on June 12, 2026, we entered into Amendment No. 10 (the "ABL Amendment") to our credit agreement governing the asset-based revolving credit facility originally entered into on January 31, 2012 (the "2012 ABL Revolver"). The ABL Amendment provides for (i) an increase in the aggregate revolving commitment of the 2012 ABL Revolver from $200.0 million to $225.0 million and (ii) an extended maturity date of the 2012 ABL Revolver to June 12, 2031 (see Note 18., Subsequent Events).

At June 30, 2026, we had no balance outstanding on our 2012 ABL Revolver, and we had a borrowing capacity of $193.5 million.

As of June 30, 2026, aggregate future principal payments required in accordance with the terms of the Term Loan Agreement, the 2012 ABL Revolver, and the indentures governing the senior unsecured notes due 2031 (the "2021 Senior Notes"), the senior unsecured notes due 2028 (the "2019 Senior Notes") are as follows:
(In thousands)
Year Ending March 31,Amount
2027 (remaining nine months ending March 31, 2027)$7,838 
2028410,450 
202910,450 
203010,450 
203110,450 
Thereafter1,595,362 
$2,045,000 
Subsequent to June 30, 2026, we issued $400.0 million aggregate principal amount of 6.25% senior notes due in 2034 (the "2026 Senior Notes") and used the net proceeds from the offering, together with cash on hand, to redeem all $400.0 million of the outstanding 5.125% 2019 Senior Notes, and to pay related expenses (see Note 18., Subsequent Events).