SEGMENT AND ENTERPRISE-WIDE INFORMATION

6 Months Ended

Oct. 01, 2022

Segment Reporting [Abstract]

SEGMENT AND ENTERPRISE-WIDE INFORMATION

12. 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 integration and transaction costs, deal amortization, restructuring and restructuring related costs, impairments, accelerated device depreciation and related costs, costs related to compliance with the European Union Medical Device Regulation (“MDR”) and In Vitro Diagnostic Regulation (“IVDR”), unusual or infrequent and material litigation-related charges and gains and losses on dispositions and sale of assets. 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				Six Months Ended
(In thousands)	October 1, 2022		October 2, 2021		October 1, 2022		October 2, 2021
Net revenues
Plasma	$	128,888	$	82,004	$	231,930	$	153,807
Blood Center	75,652		75,259		142,225		146,995
Hospital	92,562		75,902		181,746		153,509
Net revenues by business unit	297,102		233,165		555,901		454,311
Service (1)	5,409		4,951		10,546		10,219
Effect of exchange rates	(5,026)		1,781		(7,504)		3,895
Net revenues	$	297,485	$	239,897	$	558,943	$	468,425
(1) Reflects revenue for service, maintenance and parts

	Three Months Ended				Six Months Ended
(In thousands)	October 1, 2022		October 2, 2021		October 1, 2022		October 2, 2021
Segment operating income
Plasma	$	71,607	$	42,213	$	126,733	$	77,559
Blood Center	37,328		34,600		67,705		68,482
Hospital	38,483		31,229		73,205		62,826
Segment operating income	147,418		108,042		267,643		208,867
Corporate expenses (1)	(86,769)		(68,186)		(168,353)		(136,917)
Effect of exchange rates	(51)		3,934		6,194		9,746
Integration and transaction costs	(46)		(625)		712		(17,358)
Deal amortization	(8,221)		(11,400)		(16,588)		(23,779)
Restructuring and restructuring related costs	(3,194)		(4,513)		(6,672)		(14,568)
Impairment of assets and PCS2 related charges	(83)		(250)		267		(3,893)
MDR and IVDR costs	(2,506)		(2,347)		(5,692)		(4,718)
Litigation-related charges	(198)		(145)		(394)		(1,083)
Gains on divestiture	382		—		382		9,603
Operating income	$	46,732	$	24,510	$	77,499	$	25,900
(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				Six Months Ended
(In thousands)	October 1, 2022		October 2, 2021		October 1, 2022		October 2, 2021
Plasma products and services	$	143,161	$	102,075	$	261,513	$	192,584
Blood Center products and services	61,895		59,931		114,813		117,678
Hospital products and services	92,429		77,891		182,617		158,163
Net revenues	$	297,485	$	239,897	$	558,943	$	468,425

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

	Three Months Ended				Six Months Ended
(In thousands)	October 1, 2022		October 2, 2021		October 1, 2022		October 2, 2021
United States	$	211,724	$	152,106	$	393,720	$	293,134
Japan	15,129		18,812		29,007		36,033
Europe	41,850		41,180		82,307		84,515
Asia	27,861		26,771		52,285		52,723
Other	921		1,028		1,624		2,020
Net revenues	$	297,485	$	239,897	$	558,943	$	468,425