SEGMENT AND ENTERPRISE-WIDE INFORMATION

9 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

SEGMENT AND ENTERPRISE-WIDE INFORMATION

13. 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				Nine Months Ended
(In thousands)	December 31, 2022		January 1, 2022		December 31, 2022		January 1, 2022
Net revenues
Plasma	$	136,574	$	96,692	$	368,504	$	250,499
Blood Center	76,827		74,527		219,052		221,522
Hospital	93,889		82,100		275,635		235,609
Net revenues by business unit	307,290		253,319		863,191		707,630
Service (1)	5,372		5,436		15,918		15,655
Effect of exchange rates	(7,361)		1,014		(14,865)		4,909
Net revenues	$	305,301	$	259,769	$	864,244	$	728,194
(1) Reflects revenue for service, maintenance and parts

	Three Months Ended				Nine Months Ended
(In thousands)	December 31, 2022		January 1, 2022		December 31, 2022		January 1, 2022
Segment operating income
Plasma	$	76,365	$	51,405	$	203,098	$	128,964
Blood Center	35,005		34,561		102,710		103,043
Hospital	37,557		35,072		110,762		97,898
Segment operating income	148,927		121,038		416,570		329,905
Corporate expenses (1)	(93,502)		(68,013)		(261,855)		(204,930)
Effect of exchange rates	3,581		5,807		9,775		15,553
Integration and transaction costs	(287)		(1,860)		425		(19,218)
Deal amortization	(8,078)		(12,151)		(24,666)		(35,930)
Restructuring and restructuring related costs	(4,123)		(5,682)		(10,795)		(20,250)
Impairment of assets and PCS2 related charges	1		(897)		268		(4,790)
MDR and IVDR costs	(2,483)		(2,453)		(8,175)		(7,171)
Litigation-related charges	(757)		(138)		(1,151)		(1,221)
Gains on divestiture	—		—		382		9,603
Operating income	$	43,279	$	35,651	$	120,778	$	61,551
(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				Nine Months Ended
(In thousands)	December 31, 2022		January 1, 2022		December 31, 2022		January 1, 2022
Plasma products and services	$	153,899	$	116,347	$	415,412	$	308,931
Blood Center products and services	58,273		59,440		173,086		177,118
Hospital products and services	93,129		83,982		275,746		242,145
Net revenues	$	305,301	$	259,769	$	864,244	$	728,194

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

	Three Months Ended				Nine Months Ended
(In thousands)	December 31, 2022		January 1, 2022		December 31, 2022		January 1, 2022
United States	$	224,104	$	167,270	$	617,824	$	460,404
Japan	15,552		19,916		44,559		55,949
Europe	39,105		41,540		121,412		126,055
Asia	25,454		30,434		77,739		83,157
Other	1,086		609		2,710		2,629
Net revenues	$	305,301	$	259,769	$	864,244	$	728,194