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RESTRUCTURING | 12 Months Ended
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Apr. 03, 2021
Restructuring and Related Activities [Abstract] |
RESTRUCTURING | 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 initially expected to incur aggregate charges between $60 million and $70 million by the end of fiscal 2023. However, the Company is currently assessing the potential impact of CSL's decision not to renew its supply agreement for the purchase of disposable plasmapheresis kits on the timing and charges of the 2020 Program. The majority of charges will result in cash outlays, including severance and other employee costs, and will be incurred as the specific actions required to execute these initiatives are identified and approved. During fiscal 2021 and fiscal 2020 the Company incurred $15.1 million and $11.9 million of restructuring and turnaround costs under this program, respectively. Total cumulative charges under this program are $27.0 million as of April 3, 2021. 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 fiscal 2021, 2020 and 2019, the Company incurred $0.6 million, $7.9 million and $13.7 million of restructuring and turnaround costs under this program, respectively. Total cumulative charges under this program are $58.8 million as of April 3, 2021. The 2018 Program is substantially complete. The following table summarizes the activity for restructuring reserves related to the 2020 Program, the 2018 Program and prior programs for the fiscal years ended April 3, 2021, March 28, 2020 and March 30, 2019, substantially all of which relates to employee severance and other employee costs:
(In thousands) | 2020 Program |  | 2018 and Prior Programs |  | Total
Balance at March 31, 2018 | $ | — |  |  | $ | 28,535 |  |  | $ | 28,535 |
Costs incurred, net of reversals | — |  |  | 395 |  |  | 395 |
Payments | — |  |  | (21,392) |  |  | (21,392) |
Non-cash adjustments | — |  |  | (59) |  |  | (59) |
Balance at March 30, 2019 | $ | — |  |  | $ | 7,479 |  |  | $ | 7,479 |
Costs incurred, net of reversals | 2,234 |  |  | 1,357 |  |  | 3,591 |
Payments | (1,098) |  |  | (7,177) |  |  | (8,275) |
Non-cash adjustments | — |  |  | (147) |  |  | (147) |
Balance at March 28, 2020 | $ | 1,136 |  |  | $ | 1,512 |  |  | $ | 2,648 |
Costs incurred, net of reversals | 1,501 |  |  | (57) |  |  | 1,444 |
Payments | (2,062) |  |  | (1,018) |  |  | (3,080) |
Balance at April 3, 2021 | $ | 575 |  |  | $ | 437 |  |  | $ | 1,012 |
The following presents the restructuring costs by line item during fiscal 2021, 2020 and 2019 within our accompanying consolidated statements of income and comprehensive income:
(In thousands) | 2021 |  | 2020 |  | 2019
Cost of goods sold | $ | 390 |  |  | $ | 1,082 |  |  | $ | — |
Research and development | 142 |  |  | 532 |  |  | 741 |
Selling, general and administrative expenses | 912 |  |  | 1,977 |  |  | (346) |
Total | $ | 1,444 |  |  | $ | 3,591 |  |  | $ | 395 |
As of April 3, 2021, the Company had a restructuring liability of $1.0 million, of which approximately $0.6 million is payable within the next twelve months. In addition to the restructuring expenses included in the table above, the Company also incurred costs of $14.2 million, $16.3 million and $13.2 million in fiscal 2021, 2020 and 2019, respectively, that do not constitute restructuring costs under ASC 420, Exit and Disposal Cost Obligations, and which the Company instead refers to as turnaround costs. These costs 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 following presents the turnaround costs by line item during fiscal 2021, 2020 and 2019 within our accompanying consolidated statements of income and comprehensive income:
(In thousands) | 2021 |  | 2020 |  | 2019
Cost of goods sold | $ | 9,318 |  |  | $ | 2,227 |  |  | $ | 1,305 |
Research and development | 1,026 |  |  | 354 |  |  | — |
Selling, general and administrative expenses | 3,873 |  |  | 13,706 |  |  | 11,923 |
Total | $ | 14,217 |  |  | $ | 16,287 |  |  | $ | 13,228 |
The tables below present restructuring and turnaround costs by reportable segment:
Restructuring costs |  |  |  |  |
(In thousands) | 2021 |  | 2020 |  | 2019
Plasma | $ | 454 |  |  | $ | 544 |  |  | $ | (67) |
Blood Center | 201 |  |  | (5) |  |  | 164 |
Hospital | 322 |  |  | 845 |  |  | 828 |
Corporate | 467 |  |  | 2,207 |  |  | (530) |
Total | $ | 1,444 |  |  | $ | 3,591 |  |  | $ | 395 |
Turnaround costs |  |  |  |  |
(In thousands) | 2021 |  | 2020 |  | 2019
Plasma | $ | 1,870 |  |  | $ | 820 |  |  | $ | 174 |
Blood Center | 1,599 |  |  | 320 |  |  | 145 |
Hospital | 14 |  |  | — |  |  | (270) |
Corporate | 10,734 |  |  | 15,147 |  |  | 13,179 |
Total | $ | 14,217 |  |  | $ | 16,287 |  |  | $ | 13,228 |
Total restructuring and turnaround | $ | 15,661 |  |  | $ | 19,878 |  |  | $ | 13,623 |

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -URI http://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 + Details
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