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SUBSEQUENT EVENT
12 Months Ended
Mar. 31, 2018
Subsequent Events [Abstract]  
SUBSEQUENT EVENT
SUBSEQUENT EVENT
As part of our acquisition of the whole blood business from Pall Corporation (“Pall”) in fiscal 2012, Pall agreed to manufacture and install in one of our facilities a filter media manufacturing line (the “HDC line”) for which we agreed to pay Pall approximately $15.0 million (plus pre-approved overages). Pall also agreed to supply media to us for use in leukoreduction filters until such time as we accepted the HDC line.

On May 21, 2018, we entered into a long-term supply agreement with Pall under which Pall will continue to supply media to us for use in leukoreduction filters. As a condition of the supply agreement, we agreed to accept the HDC line from Pall and will make a final payment of $9.0 million to Pall for the HDC line during May 2018.
As a result of the decision to continue to source media for our leukoreduction filters from Pall rather than producing them internally, we do not expect to utilize the HDC line for future production and expect that the asset’s future cash flows will not be sufficient to recover its carrying value of $12.5 million. Accordingly, during the first quarter of fiscal 2019 we recorded $21.5 million of total charges associated with this transaction, consisting of a $12.5 million impairment charge for the HDC line and a $9.0 million charge for the final payment to Pall.