SEGMENT AND ENTERPRISE-WIDE INFORMATION

6 Months Ended

Sep. 30, 2023

Segment Reporting [Abstract]

SEGMENT AND ENTERPRISE-WIDE INFORMATION

16. 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 and operating 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, amortization of acquired intangible assets, restructuring costs, restructuring related costs, digital transformation costs related to the upgrade of our enterprise resource planning system, 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)	September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
Net revenues
Plasma	$	141,748	$	128,888	$	280,230	$	231,930
Blood Center	68,912		75,652		136,218		142,225
Hospital	103,358		92,562		202,894		181,746
Net revenues by business unit	314,018		297,102		619,342		555,901
Service (1)	5,045		5,409		10,809		10,546
Effect of exchange rates	(880)		(5,026)		(636)		(7,504)
Net revenues	$	318,183	$	297,485	$	629,515	$	558,943
(1) Reflects revenue for service, maintenance and parts

	Three Months Ended				Six Months Ended
(In thousands)	September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
Segment operating income
Plasma	$	78,042	$	71,607	$	153,740	$	126,733
Blood Center	27,307		37,328		53,590		67,705
Hospital	41,834		38,483		82,777		73,205
Segment operating income	147,183		147,418		290,107		267,643
Corporate expenses (1)	(75,750)		(86,769)		(151,059)		(168,353)
Effect of exchange rates	(3,091)		(51)		(478)		6,194
Amortization of acquired intangible assets	(7,222)		(8,221)		(14,695)		(16,588)
Integration and transaction costs	(1,784)		(46)		(2,899)		712
Restructuring costs	(86)		(165)		(75)		(121)
Restructuring related costs	(1,947)		(3,029)		(4,151)		(6,551)
Digital transformation costs	(3,592)		—		(7,297)		—
Impairment of assets and PCS2 related charges	(552)		(83)		(411)		267
MDR and IVDR costs	(1,988)		(2,506)		(3,154)		(5,692)
Litigation-related charges	(5,449)		(198)		(6,507)		(394)
Impairment of intangible assets	(10,419)		—		(10,419)		—
Gains on divestiture	—		382		—		382
Operating income	$	35,303	$	46,732	$	88,962	$	77,499
(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.

Net revenues by business unit are as follows:

		Three Months Ended				Six Months Ended
(In thousands)		September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
	Plasma	$	141,900	$	127,893	$	280,510	$	230,274
	Whole Blood	14,683		19,893		34,724		39,488
	Apheresis	53,415		53,790		100,714		99,889
	Blood Center	68,098		73,683		135,438		139,377
	Hemostasis Management	36,998		34,320		74,818		67,816
	Vascular Closure	38,541		29,575		76,162		59,143
	Other(1)	27,604		26,961		51,771		52,390
	Hospital	103,143		90,856		202,751		179,349
Net business unit revenues		313,141		292,432		618,699		549,000
	Service	5,042		5,053		10,816		9,943
Net revenues		$	318,183	$	297,485	$	629,515	$	558,943
(1) Other includes the Cell Salvage and Transfusion Management product lines of the Hospital business unit.

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)	September 30, 2023		October 1, 2022		September 30, 2023		October 1, 2022
United States	$	236,345	$	211,724	$	473,418	$	393,720
Japan	15,011		15,129		26,784		29,007
Europe	38,666		41,850		78,053		82,307
Rest of Asia	27,735		27,861		49,775		52,285
Other	426		921		1,485		1,624
Net revenues	$	318,183	$	297,485	$	629,515	$	558,943