SEGMENT AND ENTERPRISE-WIDE INFORMATION

3 Months Ended

Jul. 03, 2021

Segment Reporting [Abstract]

SEGMENT AND ENTERPRISE-WIDE INFORMATION

14. SEGMENT AND ENTERPRISE-WIDE INFORMATION

The Company determines its reportable segments by first identifying its operating segments, and then by assessing whether any components of these segments constitute a business for which discrete financial information is available and where segment management regularly reviews the operating results of that component. The Company's reporting structure aligns with its operating structure of three global business units and the information that is regularly reviewed by the Company's chief operating decision maker.

The Company's reportable segments are as follows:

•Plasma

•Blood Center

•Hospital

Management measures and evaluates the operating segments based on operating income. Management excludes certain corporate expenses from segment operating income. In addition, certain amounts that management considers to be non-recurring or non-operational are excluded from segment operating income because management evaluates the operating results of the segments excluding such items. These items include restructuring and restructuring related costs, deal amortization, gains and losses on dispositions and sale of assets, asset impairments, accelerated device depreciation and related costs, costs related to compliance with the European Union Medical Device Regulation, transaction and integration costs and certain tax settlements and unusual or infrequent and material litigation-related charges. Although these amounts are excluded from segment operating income, as applicable, they are included in the reconciliations that follow. Management measures and evaluates the Company's net revenues and operating income using internally derived standard currency exchange rates that remain constant from year to year; therefore, segment information is presented on this basis.

Selected information by reportable segment is presented below:

	Three Months Ended
(In thousands)	July 3, 2021		June 27, 2020
Net revenues
Plasma	$	71,803	$	68,715
Blood Center	71,736		79,314
Hospital	77,607		45,571
Net revenues by business unit	221,146		193,600
Service (1)	5,268		5,082
Effect of exchange rates	2,114		(3,105)
Net revenues	$	228,528	$	195,577
(1) Reflects revenue for service, maintenance and parts

	Three Months Ended
(In thousands)	July 3, 2021		June 27, 2020
Segment operating income
Plasma	$	35,346	$	36,350
Blood Center	33,882		38,745
Hospital	31,597		17,783
Segment operating income	100,825		92,878
Corporate expenses (1)	(68,731)		(65,062)
Effect of exchange rates	5,812		711
Integration and transaction costs	(16,733)		(1,290)
Deal amortization	(12,379)		(8,263)
Restructuring and restructuring related costs	(10,055)		(4,000)
Impairment of assets and PCS2 related charges	(3,643)		(2,506)
European Medical Device Regulation costs and other	(2,371)		(753)
Litigation-related charges	(938)		—
Gains on divestitures and sale of assets	9,603		—
Operating income	$	1,390	$	11,715
(1) Reflects shared service expenses including quality and regulatory, customer and field service, research and development, manufacturing and supply chain, as well as other corporate support functions.

Management reviews revenue based on the reportable segments noted above. Although these reportable segments are primarily product-based, they differ from the Company’s product line revenues for Plasma products and services and Blood Center products and services. Specifically, the Blood Center reportable segment includes plasma products utilized for collection in blood centers primarily for transfusion purposes. Additionally, product line revenues also include service revenues which are excluded from the reportable segments.

Net revenues by product line are as follows:

	Three Months Ended
(In thousands)	July 3, 2021		June 27, 2020
Plasma products and services	$	90,509	$	88,713
Blood Center products and services	57,747		60,667
Hospital products and services	80,272		46,197
Net revenues	$	228,528	$	195,577

Net revenues generated in the Company's principle operating regions on a reported basis are as follows:

	Three Months Ended
(In thousands)	July 3, 2021		June 27, 2020
United States	$	141,028	$	111,009
Japan	17,221		16,831
Europe	43,335		43,019
Asia	25,952		22,384
Other	992		2,334
Net revenues	$	228,528	$	195,577