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ACQUISITIONS (Tables) (Pall Corporation [Member])
 12 Months Ended
Mar. 30, 2013
Pall Corporation [Member]
  
Business Acquisition [Line Items]  
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The preliminary allocation of the purchase price to the estimated fair value of the acquired assets and liabilities is summarized as follows:
Asset class
 
Amounts Recognized as of March 30, 2013 (Provisional)
(In thousands)
 
 
Inventories
 
$
49,917

Property, plant and equipment
 
85,984

Intangible assets
 
188,500

Other assets/liabilities, net
 
(6,166
)
Goodwill
 
216,940

Fair value of net assets acquired
 
$
535,175
Business Acquisition, Pro Forma Information
The following represents the pro forma consolidated statements of income as if the acquisition of the whole blood business had been included in our consolidated results beginning on April 3, 2011.
(In thousands)
 
March 30, 2013
 
March 31, 2012
Net sales
 
$
963,923

 
$
963,643

Net income
 
56,540

 
77,984

Basic earnings per share
 
$
1.10

 
$
1.54

Diluted earnings per share
 
$
1.08

 
$
1.51


The unaudited consolidated pro-forma financial information above includes the following significant adjustments made to account for certain costs which would have been incurred if the acquisition had been completed on April 3, 2011, as adjusted for the applicable tax impact. As our acquisition of the whole blood business was completed on August 1, 2012, the pro-forma adjustments for the fiscal year ended March 30, 2013 in the table below only include the required adjustments through August 1, 2012.
(In thousands)
 
March 30, 2013
 
March 31, 2012
Transaction costs (1)
 
$
3,184

 
$
3,000

Amortization of inventory fair value adjustment (2)
 
11,948

 
(11,948
)
Amortization of acquired intangible assets (3)
 
(5,236
)
 
(15,708
)
Interest expense incurred on acquisition financing (4)
 
(3,173
)
 
(9,520
)
Selling, general and administrative expenses (5)
 
(3,513
)
 
(10,540
)

(1)
Eliminated transactions costs as these non-recurring costs were incurred in fiscal 2013.
(2)
Added additional expense in the period ended March 31, 2012 to reflect the inventory fair value adjustments which would have been amortized had the transaction been consummated on April 3, 2011 as the corresponding inventory would have been completely sold during the first two quarters of 2011. Also, deducted the actual inventory fair value adjustment recorded in the fiscal year ended March 30, 2013 to reflect the pro-forma consumption of inventory in 2011.
(3)
Added additional amortization of the acquired whole blood intangible assets recognized at fair value in purchase accounting.
(4)
Added additional interest expense for the debt used to finance the acquisition.
(5)
Additional investments in infrastructure costs to replicate certain support functions performed by division or corporate organizations of Pall that did not transfer in the acquisition. These costs are primarily related to information technology infrastructure and application costs, and personnel costs required to expand regional and corporate administrative and sales support functions. These costs are not intended to be representative of actual costs incurred by Pall Corporation, and represent Haemonetics' best estimate of future incremental costs on an annualized basis.  Actual incremental investments may differ from these estimates.