Derivative Financial Instruments (Tables)

6 Months Ended

Sep. 30, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

As of September 30, 2024, we had the following interest rate swaps outstanding:


	Notional		Fair value		Pay fixed	Receive floating	Maturity date
Non-amortizing swap	$	50,000	$	(550)	4.491%	5.071%	Feb 2026
Non-amortizing swap	25,000		(363)		4.650%	5.163%	Mar 2026

Schedule of derivative instruments in statement of financial position, fair value

The following tables summarize the fair value of our derivative instruments as well as the location of the asset and/or liability on the unaudited condensed consolidated balance sheets:


		Asset (Liability) derivatives fair value as of
Derivatives designated as cash flow hedging instruments	Balance sheet location	September 30, 2024		March 31, 2024
Interest rate swap contract	Deferred charges and other non-current assets, net	$	—	$	13
Interest rate swap contract	Other long-term liabilities	(913)		—
Foreign currency forward contracts	Other current liabilities	(546)		(4)
Total		$	(1,459)	$	9

Derivative instruments, gain (loss)

The following tables summarize the net effect of all cash flow hedges for each of our derivative contracts on the unaudited condensed consolidated financial statements:


	Gain (loss) recognized in other comprehensive income (loss)
	Three months ended				Six months ended
Derivatives designated as cash flow hedging instruments:	September 30, 2024		September 24, 2023		September 30, 2024		September 24, 2023
Foreign currency forward contracts	$	(924)	$	403	$	(594)	$	242
Lead forward contracts	(177)		130		202		275
Interest rate swap contracts	(955)		1,121		(630)		2,392
Total gain (loss)	$	(2,056)	$	1,654	$	(1,022)	$	2,909


		Gain (loss) reclassified from other comprehensive income (loss) into earnings
		Three months ended				Six months ended
Derivatives designated as cash flow hedging instruments:	Location	September 30, 2024		September 24, 2023		September 30, 2024		September 24, 2023
Foreign currency forward contracts	Cost of sales	$	(38)	$	(789)	$	(38)	$	(1,189)
Foreign currency forward contracts	Other income (expense), net	(31)		(539)		(18)		(1,218)
Lead forward contracts	Cost of sales	4		96		39		290
Interest rate swap contracts	Interest expense, net	136		131		296		204
Total gain (loss)		$	71	$	(1,101)	$	279	$	(1,913)

Vista Outdoor Inc. 10-Q