COMMITMENTS AND CONTINGENCIES

6 Months Ended

Sep. 30, 2025

Commitments and Contingencies Disclosure [Abstract]

Leases. The Company enters into operating lease contracts, which primarily relate to retail stores, showrooms, offices, and distribution facilities. There were no material changes outside the ordinary course of business during the six months ended September 30, 2025, to the Company’s operating lease terms disclosed in the 2025 Annual Report.

Supplemental information for amounts presented in the condensed consolidated statements of cash flows related to operating leases was as follows:


	Three Months Ended September 30,				Six Months Ended September 30,
	2025		2024		2025		2024
Non-cash operating activities (1)
Operating lease assets obtained in exchange for lease liabilities	$	55,729	$	3,762	$	101,000	$	16,098
Reductions to operating lease assets for reductions to lease liabilities	(29)		(15)		(2,681)		(1,121)

(1) Amounts disclosed include non-cash additions or reductions resulting from lease remeasurements, as well as reductions for tenant improvement allowances. Non-cash additions in the current period predominately include investments in the Company's global retail store footprint that are in the ordinary course of business.

Purchase Obligations. Except as noted below, there were no material changes outside the ordinary course of business during the six months ended September 30, 2025, to the Company’s purchase obligations disclosed in the 2025 Annual Report.

3PL Agreements. During the six months ended September 30, 2025, the Company entered into a 3PL service agreement with a non-cancellable minimum commitment of approximately $93,611 through March 31, 2029, related to the transition of one of its international 3PLs to a new partner with an upgraded warehouse management system which the Company expects to be operational in the first quarter of its fiscal year ending March 31, 2027 (next fiscal year).

Litigation. From time to time, the Company is involved in various legal proceedings, disputes, and other claims arising in the ordinary course of business, including employment, intellectual property, and product liability claims. Although the results of these matters cannot be predicted with certainty, the Company believes it is not currently a party to any legal proceedings, disputes, or other claims for which a material loss is considered probable and for which the amount (or range) of loss is reasonably estimable.

Refer to Note 7, “Commitments and Contingencies,” in the Company’s consolidated financial statements in Part IV of the 2025 Annual Report for further information on the Company’s contractual obligations and commitments.