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SEGMENT AND ENTERPRISE-WIDE INFORMATION | 6 Months Ended
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Oct. 01, 2016
Segment Reporting [Abstract] |
SEGMENT AND ENTERPRISE-WIDE INFORMATION | SEGMENT AND ENTERPRISE-WIDE INFORMATION We determine our reportable segments by first identifying our 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. Our operating segments are based primarily on geography. North America Plasma is a separate operating segment with dedicated segment management due the size and scale of the plasma business. We aggregate components within an operating segment that have similar economic characteristics. The Company’s reportable segments are as follows:
• | Japan
• | Europe, Middle East and Africa (collectively “EMEA”)
• | North America Plasma
• | All Other
The Company has aggregated the following two operating segments into the All Other reportable segment based upon their similar operational and economic characteristics, including similarity of operating margin:
• | Americas Blood Center and Hospital
• | Asia - Pacific
In periods prior to the fourth quarter of fiscal 2016, we believed a single reportable segment was consistent with its basic organizational structure and believed aggregation was consistent with its primary basis for decision making. As a result, prior year segment information has been restated to conform with the current reportable segments. During the first quarter of fiscal 2017, management reorganized its operating segments such that certain components of All Other are now reported as components of EMEA. Accordingly, the prior year numbers have been updated to reflect this reclassification as well as other changes within the cost reporting structure that occurred in the first quarter of fiscal 2017. These changes did not have an impact on our ability to aggregate Americas Blood Center and Hospital with Asia - Pacific. Management measures and evaluates the operating segments based on operating margin. 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 restructuring and turnaround costs, deal amortization, and asset impairments. 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 on a constant currency basis, therefore segment information is presented on a constant currency basis. Selected information by business segment is presented below:
| Three Months Ended |  | Six Months Ended
(In thousands) | October 1, 2016 |  | September 26, 2015 |  | October 1, 2016 |  | September 26, 2015
Net revenues |  |  |  |  |  |  |
Japan | $ | 18,991 |  |  | $ | 19,908 |  |  | $ | 33,557 |  |  | $ | 37,503 |
EMEA | 45,933 |  |  | 48,198 |  |  | 91,674 |  |  | 97,009 |
North America Plasma | 78,292 |  |  | 68,606 |  |  | 151,767 |  |  | 133,049 |
All Other | 78,411 |  |  | 82,780 |  |  | 156,431 |  |  | 162,999 |
Net revenues (constant currency) | 221,627 |  |  | 219,492 |  |  | 433,429 |  |  | 430,560 |
Effect of exchange rates | (1,374 | ) |  | 201 |  |  | (3,220 | ) |  | 2,546 |
Net revenues (reported) | $ | 220,253 |  |  | $ | 219,693 |  |  | $ | 430,209 |  |  | $ | 433,106 |
| Three Months Ended |  | Six Months Ended
(In thousands) | October 1, 2016 |  | September 26, 2015 |  | October 1, 2016 |  | September 26, 2015
Segment operating income |  |  |  |  |  |  |
Japan | $ | 8,883 |  |  | $ | 8,948 |  |  | $ | 15,004 |  |  | $ | 16,630 |
EMEA | 10,702 |  |  | 11,486 |  |  | 20,750 |  |  | 22,012 |
North America Plasma | 28,272 |  |  | 27,309 |  |  | 55,549 |  |  | 53,464 |
All Other | 30,329 |  |  | 29,839 |  |  | 55,965 |  |  | 58,474 |
Segment operating income (constant currency) | 78,186 |  |  | 77,582 |  |  | 147,268 |  |  | 150,580 |
Corporate operating expenses (constant currency) | (45,416 | ) |  | (46,275 | ) |  | (93,867 | ) |  | (95,526 | )
Non-GAAP operating income (constant currency) | 32,770 |  |  | 31,307 |  |  | 53,401 |  |  | 55,054 |
Effect of exchange rates | 667 |  |  | 1,802 |  |  | (639 | ) |  | 3,882 |
Non-GAAP operating income (reported) | 33,437 |  |  | 33,109 |  |  | 52,762 |  |  | 58,936 |
Unallocated amounts |  |  |  |  |  |  |
Restructuring and turnaround costs | 1,637 |  |  | 6,531 |  |  | 20,453 |  |  | 21,347 |
Deal amortization | 7,006 |  |  | 7,399 |  |  | 14,081 |  |  | 14,804 |
Asset impairments | — |  |  | — |  |  | 1,315 |  |  | — |
Operating income | $ | 24,794 |  |  | $ | 19,179 |  |  | $ | 16,913 |  |  | $ | 22,785 |
In connection with the global strategic review of our business portfolio, we organized our current products into four franchises for purposes of evaluating their growth potential: Plasma, Blood Center, Cell Processing and Hemostasis Management. Management reviews revenue trends based on these franchises. Net revenues by franchise are as follows:
|  | Three Months Ended | Six Months Ended
(In thousands) |  | October 1, 2016 |  | September 26, 2015 |  | October 1, 2016 |  | September 26, 2015
Plasma |  | $ | 103,564 |  |  | $ | 93,036 |  |  | $ | 201,213 |  |  | $ | 181,563 |
Blood Center |  | 74,270 |  |  | 84,235 |  |  | 145,213 |  |  | 167,318 |
Cell Processing |  | 25,955 |  |  | 28,105 |  |  | 52,031 |  |  | 55,918 |
Hemostasis Management |  | 16,464 |  |  | 14,317 |  |  | 31,752 |  |  | 28,307 |
Net revenues |  | $ | 220,253 |  |  | $ | 219,693 |  |  | $ | 430,209 |  |  | $ | 433,106 |
Net revenues generated in our principle operating regions on a reported basis are as follows:
| Three Months Ended |  | Six Months Ended
(In thousands) | October 1, 2016 |  | September 26, 2015 |  | October 1, 2016 |  | September 26, 2015
United States | $ | 130,843 |  |  | $ | 127,031 |  |  | $ | 256,543 |  |  | $ | 247,726 |
Japan | 21,666 |  |  | 16,190 |  |  | 36,630 |  |  | 30,924 |
Europe | 37,606 |  |  | 47,869 |  |  | 77,973 |  |  | 98,157 |
Asia | 28,384 |  |  | 26,603 |  |  | 55,376 |  |  | 52,123 |
Other | 1,754 |  |  | 2,000 |  |  | 3,687 |  |  | 4,176 |
Net revenues | $ | 220,253 |  |  | $ | 219,693 |  |  | $ | 430,209 |  |  | $ | 433,106 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
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