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RESTRUCTURING | 12 Months Ended
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Mar. 28, 2015
Restructuring and Related Activities [Abstract] |
RESTRUCTURING | RESTRUCTURING On an ongoing basis, we review the global economy, the healthcare industry, and the markets in which we compete. From these reviews we identify opportunities to improve efficiencies, enhance commercial capabilities, better align our resources and offer customers better comprehensive solutions. In order to realize these opportunities, from time to time, we undertake restructuring and other initiatives to transform our business. On May 1, 2013, we committed to a plan to pursue identified Value Creation and Capture initiatives ("VCC"). These opportunities include investment in product line extensions and next generation products, enhancement of commercial capabilities and a transformation of our manufacturing network. The transformation of our manufacturing network will take place over three years and includes changes to the current manufacturing footprint and supply chain structure (the "Network Plan"). To implement the Network Plan, we are (i) discontinuing manufacturing activities at our Braintree, Massachusetts, Ascoli-Piceno, Italy and Bothwell, Scotland facilities, (ii) creating a technology center of excellence for product development in Braintree, Massachusetts, (iii) expanding our current facility in Tijuana, Mexico, (iv) engaging Sanmina Corporation as a contract manufacturer to produce certain medical equipment, and (v) building a new manufacturing facility in Penang, Malaysia closer to our customers in Asia. See liquidity and capital resources discussion of this MD&A for further discussion of the costs of these activities. We estimate we will incur approximately $45.0 million of restructuring and restructuring related expense and spend approximately $27.0 million to complete these initiatives in fiscal 2016. For the year ended March 28, 2015, we incurred $36.9 million of restructuring and restructuring related charges and paid approximately $42.3 million with approximately $13.3 million payable within the next twelve months. The substantial majority of restructuring expenses have been included as a component of selling, general and administrative expense in the accompanying consolidated statements of income and comprehensive income. The following summarizes the restructuring activity for the fiscal year ended March 28, 2015, March 29, 2014, and March 30, 2013, respectively:
(In thousands) | Balance at March 29, 2014 |  | Cost Incurred |  | Payments |  | Less Non-Cash Adjustments |  | Restructuring Accrual Balance at March 28, 2015
Severance and other employee costs | $ | 22,908 |  |  | $ | 19,879 |  |  | $ | (26,394 | ) |  | $ | — |  |  | $ | 16,393 |
Other costs | 728 |  |  | 15,362 |  |  | (15,871 | ) |  | — |  |  | 219 |
Accelerated depreciation | — |  |  | 1,326 |  |  | — |  |  | (1,326 | ) |  | — |
Asset write-down | — |  |  | 296 |  |  | — |  |  | (296 | ) |  | — |
| $ | 23,636 |  |  | $ | 36,863 |  |  | $ | (42,265 | ) |  | $ | (1,622 | ) |  | $ | 16,612 |
(In thousands) | Balance at March 30, 2013 |  | Cost Incurred |  | Payments |  | Less Non-Cash Adjustments |  | Restructuring Accrual Balance at March 29, 2014
Severance and other employee costs | $ | 3,089 |  |  | $ | 31,492 |  |  | $ | (11,673 | ) |  | $ | — |  |  | $ | 22,908 |
Other costs | 173 |  |  | 14,254 |  |  | (13,699 | ) |  | — |  |  | 728 |
Accelerated depreciation | — |  |  | 2,390 |  |  | — |  |  | (2,390 | ) |  | — |
Asset write down | — |  |  | 915 |  |  | — |  |  | (915 | ) |  | — |
| $ | 3,262 |  |  | $ | 49,051 |  |  | $ | (25,372 | ) |  | $ | (3,305 | ) |  | $ | 23,636 |
(In thousands) | Balance at March 31, 2012 |  | Cost Incurred |  | Payments |  | Less Non-Cash Adjustments |  | Restructuring Accrual Balance at March 30, 2013
Severance and other employee costs | $ | 1,461 |  |  | $ | 6,214 |  |  | $ | (4,586 | ) |  | $ | — |  |  | $ | 3,089 |
Facility related costs | 533 |  |  | 431 |  |  | (791 | ) |  | — |  |  | 173 |
Asset write down | — |  |  | 4,247 |  |  | — |  |  | (4,247 | ) |  | — |
| $ | 1,994 |  |  | $ | 10,892 |  |  | $ | (5,377 | ) |  | $ | (4,247 | ) |  | $ | 3,262 |
We deployed significant financial resources for these activities. Many of the activities necessary to complete the VCC initiatives include severance and other costs which qualify as restructuring expenses under ASC 420, Exit or Disposal Cost Obligations. We incurred $36.9 million in severance, asset write-offs and other restructuring charges in fiscal 2015. In addition, we also incurred $29.9 million of costs that do not constitute restructuring under ASC 420, which we refer to as "Transformation Costs". These costs consist primarily of expenditures directly related to our transformation activities including program management, integration and product line transfer teams, infrastructure related costs, accelerated depreciation and asset disposals. The table below presents restructuring and transformation costs recorded in cost of goods sold, research and development, selling, general and administrative expenses and other (expense) income, net in our statements of income and comprehensive income for the periods presented. In fiscal 2015 and 2014, Transformation Costs were primarily related to our VCC initiatives. In fiscal 2013, the majority of our Transformation Costs were related to the integration of the whole blood acquisition.
Transformation costs |  |  |  |  |
(in thousands) | March 28, 2015 |  | March 29, 2014 |  | March 30, 2013
Integration and other costs | $ | 24,061 |  |  | $ | 30,701 |  |  | $ | 60,878 |
Accelerated depreciation | 930 |  |  | 4,203 |  |  | 687 |
Asset disposal | 4,925 |  |  | 796 |  |  | — |
Total | $ | 29,916 |  |  | $ | 35,700 |  |  | $ | 61,565 |
Restructuring costs |  |  |  |  |
(in thousands) | March 28, 2015 |  | March 29, 2014 |  | March 30, 2013
Severance and other employee costs | $ | 19,879 |  |  | $ | 31,492 |  |  | $ | 6,214 |
Other costs | 15,362 |  |  | 14,254 |  |  | 431 |
Accelerated depreciation | 1,326 |  |  | 2,390 |  |  | — |
Asset disposal | 296 |  |  | 915 |  |  | 4,247 |
Total | $ | 36,863 |  |  | $ | 49,051 |  |  | $ | 10,892 |
Total restructuring and transformation | $ | 66,779 |  |  | $ | 84,751 |  |  | $ | 72,457 |

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.P.3) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140864-122747 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section P -Subsection 3, 4 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140904-122747 + Details
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