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SEGMENT AND ENTERPRISE-WIDE INFORMATION | 9 Months Ended
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Dec. 29, 2018
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 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 unit. It aggregates components within an operating segment that have similar economic characteristics. The Company’s reportable segments are as follows:
• | Japan
• | EMEA
• | North America Plasma
• | All Other
The Company has aggregated the Americas Blood Center and Hospital and Asia - Pacific operating segments into the All Other reportable segment based upon their similar operational and economic characteristics, including similarity of operating margin. 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 restructuring and turnaround costs, deal amortization, asset impairments, accelerated depreciation and certain legal charges. 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. During the first quarter of fiscal 2019, management reorganized its operating segments such that certain immaterial components of EMEA are now reported as components of All Other. 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 2019. These changes did not have an impact on its ability to aggregate Americas Blood Center and Hospital with Asia - Pacific. Selected information by business segment is presented below:
| Three Months Ended |  | Nine Months Ended
(In thousands) | December 29, 2018 |  | December 30, 2017 |  | December 29, 2018 |  | December 30, 2017
Net revenues |  |  |  |  |  |  |
Japan | $ | 18,297 |  |  | $ | 18,161 |  |  | $ | 52,244 |  |  | $ | 50,557 |
EMEA | 42,056 |  |  | 44,860 |  |  | 123,395 |  |  | 126,727 |
North America Plasma | 104,163 |  |  | 86,545 |  |  | 295,392 |  |  | 249,132 |
All Other | 85,282 |  |  | 86,338 |  |  | 250,576 |  |  | 249,632 |
Net revenues before foreign exchange impact | 249,798 |  |  | 235,904 |  |  | 721,607 |  |  | 676,048 |
Effect of exchange rates | (2,442 | ) |  | (1,861 | ) |  | (3,323 | ) |  | (5,677 | )
Net revenues | $ | 247,356 |  |  | $ | 234,043 |  |  | $ | 718,284 |  |  | $ | 670,371 |
| Three Months Ended |  | Nine Months Ended
(In thousands) | December 29, 2018 |  | December 30, 2017 |  | December 29, 2018 |  | December 30, 2017
Segment operating income |  |  |  |  |  |  |
Japan | $ | 9,580 |  |  | $ | 9,715 |  |  | $ | 27,213 |  |  | $ | 25,838 |
EMEA | 11,427 |  |  | 12,633 |  |  | 34,926 |  |  | 33,157 |
North America Plasma | 43,392 |  |  | 34,160 |  |  | 123,456 |  |  | 96,052 |
All Other | 34,460 |  |  | 34,729 |  |  | 103,730 |  |  | 97,929 |
Segment operating income | 98,859 |  |  | 91,237 |  |  | 289,325 |  |  | 252,976 |
Corporate operating expenses | (58,314 | ) |  | (52,164 | ) |  | (174,831 | ) |  | (150,670 | )
Effect of exchange rates | 2,133 |  |  | 2,755 |  |  | 7,782 |  |  | 1,656 |
Restructuring and turnaround costs | (1,791 | ) |  | (31,298 | ) |  | (7,258 | ) |  | (39,568 | )
Deal amortization | (6,131 | ) |  | (6,506 | ) |  | (18,667 | ) |  | (19,501 | )
Asset impairments | — |  |  | — |  |  | (21,170 | ) |  | — |
Accelerated depreciation | (4,822 | ) |  | (3,011 | ) |  | (13,203 | ) |  | (3,011 | )
Legal charges | (1,614 | ) |  | — |  |  | (2,289 | ) |  | — |
Operating income | $ | 28,320 |  |  | $ | 1,013 |  |  | $ | 59,689 |  |  | $ | 41,882 |
The Company's products are organized into three categories for purposes of evaluating their growth potential: Plasma, Blood Center and Hospital. Management reviews revenue trends based on these business units. Net revenues by business unit are as follows:
| Three Months Ended |  | Nine Months Ended
(In thousands) | December 29, 2018 |  | December 30, 2017 |  | December 29, 2018 |  | December 30, 2017
Plasma | $ | 131,823 |  |  | $ | 113,098 |  |  | $ | 373,078 |  |  | $ | 324,376 |
Blood Center | 67,155 |  |  | 74,227 |  |  | 199,881 |  |  | 211,502 |
Hospital | 48,378 |  |  | 46,718 |  |  | 145,325 |  |  | 134,493 |
Net revenues | $ | 247,356 |  |  | $ | 234,043 |  |  | $ | 718,284 |  |  | $ | 670,371 |
Net revenues generated in the Company's principal operating regions on a reported basis are as follows:
| Three Months Ended |  | Nine Months Ended
(In thousands) | December 29, 2018 |  | December 30, 2017 |  | December 29, 2018 |  | December 30, 2017
United States | $ | 157,457 |  |  | $ | 140,840 |  |  | $ | 452,523 |  |  | $ | 410,671 |
Japan | 17,734 |  |  | 17,664 |  |  | 52,295 |  |  | 49,312 |
Europe | 40,977 |  |  | 42,189 |  |  | 119,075 |  |  | 118,544 |
Asia | 29,166 |  |  | 30,733 |  |  | 89,136 |  |  | 85,504 |
Other | 2,022 |  |  | 2,617 |  |  | 5,255 |  |  | 6,340 |
Net revenues | $ | 247,356 |  |  | $ | 234,043 |  |  | $ | 718,284 |  |  | $ | 670,371 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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