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RESTRUCTURING | 3 Months Ended
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Jun. 29, 2019
Restructuring and Related Activities [Abstract] |
RESTRUCTURING | 3. RESTRUCTURING On an ongoing basis, the Company reviews the global economy, the healthcare industry, and the markets in which it competes to identify opportunities for efficiencies, enhance commercial capabilities, align its resources and offer its customers better solutions. In order to realize these opportunities, the Company undertakes restructuring-type activities to transform its business. In July 2019, the Board of Directors of the Company approved a new Operational Excellence Program (the "2020 Program") and delegated authority to the Company's management to determine the detail of the initiatives that will comprise the program. The 2020 Program is designed to improve operational performance and reduce cost principally in our manufacturing and supply chain operations. The Company estimates that it will incur aggregate charges between $60 million and $70 million in connection with the 2020 Program. These charges, the majority of which will result in cash outlays, including severance and other employee costs, will be incurred as the specific actions required to execute these initiatives are identified and approved and are expected to be substantially completed by the end of fiscal 2023. Savings from the 2020 Program are targeted to reach $80 million to $90 million on an annualized basis once the program is completed. During fiscal 2018, the Company launched a Complexity Reduction Initiative (the "2018 Program"), a company-wide restructuring program designed to improve operational performance and reduce cost, freeing up resources to invest in accelerated growth. During the three months ended June 29, 2019 and June 30, 2018, the Company incurred $2.0 million and $3.4 million of restructuring and turnaround costs under this program, respectively. Total cumulative charges under this program are $52.3 million. The following table summarizes the activity for restructuring reserves for the three months ended June 29, 2019, substantially all of which relates to employee severance and other employee costs:
(In thousands) | 2018 Program and Prior Programs
Balance at March 30, 2019 | $ | 7,479 |
Costs incurred, net of reversals | 969 |
Payments | (3,206 | )
Balance at June 29, 2019 | $ | 5,242 |
The substantial majority of restructuring costs during the three months ended June 29, 2019 have been included as a component of selling, general and administrative expenses in the accompanying consolidated statements of loss. As of June 29, 2019, the Company had a restructuring liability of $5.2 million, of which $4.5 million is payable within the next twelve months. In addition to the restructuring costs included in the table above, during the three months ended June 29, 2019 and June 30, 2018, the Company also incurred costs of $1.1 million and $3.6 million, respectively, that do not constitute restructuring under ASC 420, Exit and Disposal Cost Obligations, which the Company refers to as turnaround costs. These costs, substantially all of which have been included as a component of selling, general and administrative expenses in the accompanying consolidated statements of loss, consist primarily of expenditures directly related to the restructuring actions and include program management costs associated with the implementation of outsourcing initiatives and recent accounting standards. The tables below present restructuring and turnaround costs by the Company's three reportable segments as well as the Company's other corporate restructuring and turnaround costs:
Restructuring costs | Three Months Ended
(In thousands) | June 29, 2019 |  | June 30, 2018
Plasma | $ | 153 |  |  | $ | (39 | )
Blood Center | 42 |  |  | (32 | )
Hospital | 203 |  |  | 6 |
Corporate | 571 |  |  | (227 | )
Total | $ | 969 |  |  | $ | (292 | )
Turnaround costs | Three Months Ended
(In thousands) | June 29, 2019 |  | June 30, 2018
Plasma | $ | 48 |  |  | $ | 12 |
Blood Center | — |  |  | — |
Hospital | — |  |  | (71 | )
Corporate | 1,010 |  |  | 3,700 |
Total | $ | 1,058 |  |  | $ | 3,641 |
Total restructuring and turnaround costs | $ | 2,027 |  |  | $ | 3,349 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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