GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Apr. 01, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of goodwill by operating segment for fiscal 2023 and 2022 are as follows:


(In thousands)	Plasma		Blood Center		Hospital		Total
Carrying amount as of April 3, 2021	$	29,043	$	34,528	$	402,873	$	466,444


Purchase accounting adjustments	—		—		2,070		2,070

Currency translation	—		(362)		(865)		(1,227)
Carrying amount as of April 2, 2022	29,043		34,166		404,078		467,287



Currency translation	—		(311)		(745)		(1,056)
Carrying amount as of April 1, 2023	$	29,043	$	33,855	$	403,333	$	466,231

The results of the Company’s goodwill impairment test performed in the fourth quarter of fiscal 2023, 2022 and 2021 indicated that the estimated fair value of all reporting units exceeded their respective carrying values. There were no reporting units at risk of impairment as of the fiscal 2023, 2022 and 2021 annual test dates.

The gross carrying amount of intangible assets and the related accumulated amortization as of April 1, 2023 and April 2, 2022 is as follows:


(In thousands)	Gross Carrying Amount		Accumulated Amortization		Net

As of April 1, 2023
Amortizable:
Patents	$	18,504	$	10,831	$	7,673
Capitalized software	78,962		60,776		18,186
Other developed technology	362,506		153,099		209,407
Customer contracts and related relationships	203,240		187,774		15,466
Trade names	9,508		4,942		4,566
Total	$	672,720	$	417,422	$	255,298
Non-amortizable:
In-process software development	$	3,841
In-process research and development	13,667
In-process patents	2,965
Total	$	20,473


(In thousands)	Gross Carrying Amount		Accumulated Amortization		Net

As of April 2, 2022
Amortizable:
Patents	$	14,777	$	9,821	$	4,956
Capitalized software	76,360		52,249		24,111
Other developed technology	362,783		124,799		237,984
Customer contracts and related relationships	204,166		185,150		19,016
Trade names	9,517		4,533		4,984
Total	$	667,603	$	376,552	$	291,051
Non-amortizable:
In-process software development	$	2,648
In-process research and development	13,667
In-process patents	2,895
Total	$	19,210

Refer to Note 4, Acquisitions and Strategic Investments, for additional information regarding acquisitions.

Intangible assets include the value assigned to license rights and other developed technology, patents, customer contracts and relationships and trade names. The estimated useful lives for all of these intangible assets are approximately 5 to 15 years.

Aggregate amortization expense for amortized intangible assets for fiscal 2023, 2022 and 2021 was $42.1 million, $56.6 million and $41.2 million, respectively.

Future annual amortization expense on intangible assets is estimated to be as follows:


(In thousands)
Fiscal 2024	$	35,590
Fiscal 2025	$	28,170
Fiscal 2026	$	22,710
Fiscal 2027	$	20,795
Fiscal 2028	$	19,089

For costs incurred related to the development of software to be sold, leased, or otherwise marketed, the Company applies the provisions of ASC Topic 985-20, Software - Costs of Software to be Sold, Leased or Marketed, which specifies that costs incurred internally in researching and developing a computer software product should be charged to expense until technological feasibility has been established for the product. Once technological feasibility is established, all software costs should be capitalized until the product is available for general release to customers. The costs capitalized for each project are included in intangible assets in the consolidated financial statements.

The Company capitalized $3.8 million and $3.4 million in software development costs for ongoing initiatives during fiscal 2023 and 2022, respectively. At April 1, 2023 and April 2, 2022, the Company had a total of $82.8 million and $79.0 million of software costs capitalized, of which $3.8 million and $5.0 million are related to in process software development initiatives, respectively, and the remaining balance represents in-service assets that are being amortized over their useful lives. Amortization expense for capitalized software was $8.5 million, $8.4 million and $7.8 million for fiscal 2023, 2022 and 2021, respectively.