Company: PBH
Filing Date: 2025-05-09
Form Type: 10-K
Source: 0001295947-25-000017
Chunk: 126

Company: Prestige Consumer Healthcare Inc.
Filing Date: 2025-05-09
Form: 10-K
Item: Item 8
Chunk 126
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 and we are generally open to examination from the year ended March 31, 2021 forward.  We are currently under audit with the California state taxing authority for the years ended March 31, 2023 and 2024.We have made the assessment that the undistributed after-tax earnings from our foreign subsidiaries through March 31, 2025 were not indefinitely reinvested and can be remitted to the U.S. parent in a tax-neutral transaction under either the subsidiary countries' relevant income tax treaties or their internal tax law. Accordingly, we have not recorded a deferred tax liability related to these undistributed earnings.

15.     Employee Retirement Plans                                                         

We have a defined contribution plan in which all U.S. full-time employees are eligible to participate.  The participants may contribute from 1% to 70% of their compensation, as defined in the plan.  We match 100% of the first 3%, plus 50% of the next 3%, of each participant's base compensation with full vesting immediately.  We may also make additional contributions to the plan as determined by the Board of Directors.  The total expense for the defined contribution plan was $2.0 million, $2.0 million and $1.9 million for 2025, 2024 and 2023, respectively. Certain employees of our Lynchburg manufacturing facility were covered by defined benefit pension plans.  We had a qualified defined benefit plan (the "Plan"), and we have an unfunded non-qualified plan.During the fourth quarter of 2021, we adopted a termination date of April 30, 2021 for the Plan and began the Plan termination process.  The settlements of the terminated Plan occurred during the first quarter of fiscal 2023, with lump sum settlements in the amount of $13.8 million being paid to eligible Plan participants who elected such payments and the purchase of annuity 

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contracts for $31.1 million to the remaining participants.  These settlements were paid using Plan assets and resulted in a settlement loss of $0.4 million.  No further contributions to the Plan were necessary. Benefit Obligations and Plan AssetsThe following table summarizes the changes in the U.S. pension plan obligations and plan assets and includes a statement of the plans' funded status as of March 31, 2025 and 2024:March 31, (In thousands)20252024Change in benefit obligation:Projected benefit obligation at beginning of period$