SEGMENT AND ENTERPRISE-WIDE INFORMATION

12 Months Ended

Mar. 30, 2024

Segment Reporting [Abstract]

SEGMENT AND ENTERPRISE-WIDE INFORMATION

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 and write downs, 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:

(In thousands)	2024		2023		2022
Net revenues
Plasma	$	565,399	$	500,489	$	351,945
Blood Center	278,959		289,365		294,541
Hospital	445,982		378,206		321,580
Net revenues by business unit	1,290,340		1,168,060		968,066
Service (1)	21,631		21,424		20,811
Effect of exchange rates	(2,916)		(20,824)		4,319
Total net revenues	$	1,309,055	$	1,168,660	$	993,196
(1) Reflects revenue for service, maintenance and parts.

(In thousands)	2024		2023		2022
Segment operating income
Plasma	$	309,791	$	278,580	$	183,131
Blood Center	109,556		132,107		136,691
Hospital	184,177		154,416		129,783
Segment operating income	603,524		565,103		449,605
Corporate expenses (1)	(325,016)		(355,089)		(281,476)
Effect of exchange rates	(1,971)		8,419		18,993
Amortization of acquired intangible assets	(32,031)		(32,640)		(47,414)
Amortization of fair value inventory step-up	(3,347)		—		—
Integration and transaction costs	(11,249)		411		(21,604)
Restructuring costs	(14,089)		(657)		(4,230)
Restructuring related costs	(9,499)		(10,892)		(24,594)
Digital transformation costs	(15,667)		(4,536)		—
Write downs of certain in-process intangible assets and PCS2 related charges	(5,095)		616		(5,732)
MDR and IVDR costs	(5,588)		(9,854)		(11,033)
Litigation-related charges	(6,670)		(5,230)		(1,368)
Impairment of intangible assets	(10,419)		—		—
Gains on divestiture and sale of assets	2,000		382		9,603
Operating income	$	164,883	$	156,033	$	80,750
(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:

(In thousands)		2024		2023		2022
	Plasma	$	565,944	$	496,923	$	351,347
	Apheresis	204,086		200,546		221,878
	Whole Blood	72,058		79,416		76,634
	Blood Center	276,144		279,962		298,512
	Interventional Technologies	174,285		126,717		93,827
	Hemostasis Management	159,139		138,854		127,379
	Other	111,938		106,160		101,598
	Hospital	445,362		371,731		322,804
Net business unit revenues		1,287,450		1,148,616		972,663
	Service	21,605		20,044		20,533
Total net revenues		$	1,309,055	$	1,168,660	$	993,196

(In thousands)	2024		2023		2022
Depreciation and amortization
Plasma	$	45,712	$	41,612	$	28,314
Blood Center	13,391		13,927		32,489
Hospital	38,112		37,768		36,944
Total depreciation and amortization (excluding impairment charges)	$	97,215	$	93,307	$	97,747

(In thousands)	March 30, 2024		April 1, 2023
Long-lived assets(1)
Plasma	$	211,121	$	202,075
Blood Center	54,262		68,395
Hospital	45,979		40,415
Total long-lived assets	$	311,362	$	310,885
(1) Long-lived assets are comprised of property, plant and equipment.

Selected information by operating regions is presented below:

(In thousands)	March 30, 2024		April 1, 2023
Long-lived assets(1)
United States	$	246,473	$	251,812
Japan	1,597		997
Europe	15,310		14,587
Rest of Asia	26,728		26,263
Other	21,254		17,226
Total long-lived assets	$	311,362	$	310,885
(1) Long-lived assets are comprised of property, plant and equipment.

(In thousands)	2024		2023		2022
Net revenues
United States	$	970,007	$	842,897	$	639,322
Japan	58,087		61,295		75,562
Europe	160,142		156,680		163,520
Rest of Asia	107,536		104,135		110,802
Other	13,283		3,653		3,990
Total net revenues	$	1,309,055	$	1,168,660	$	993,196