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SEGMENT AND ENTERPRISE-WIDE INFORMATION | 6 Months Ended
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Oct. 01, 2022
Segment Reporting [Abstract] |
SEGMENT AND ENTERPRISE-WIDE INFORMATION | 12. 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 reporting structure aligns with its operating structure of three global business units and the information that is regularly reviewed by the Company’s chief operating decision maker. The Company’s reportable segments are as follows: •Plasma •Blood Center •Hospital 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 integration and transaction costs, deal amortization, restructuring and restructuring related costs, impairments, accelerated device depreciation and related costs, costs related to compliance with the European Union Medical Device Regulation (“MDR”) and In Vitro Diagnostic Regulation (“IVDR”), unusual or infrequent and material litigation-related charges and gains and losses on dispositions and sale of assets. 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. Selected information by reportable segment is presented below:
| Three Months Ended |  | Six Months Ended
(In thousands) | October 1, 2022 |  | October 2, 2021 |  | October 1, 2022 |  | October 2, 2021
Net revenues |  |  |  |  |  |  |
Plasma | $ | 128,888 |  |  | $ | 82,004 |  |  | $ | 231,930 |  |  | $ | 153,807 |
Blood Center | 75,652 |  |  | 75,259 |  |  | 142,225 |  |  | 146,995 |
Hospital | 92,562 |  |  | 75,902 |  |  | 181,746 |  |  | 153,509 |
Net revenues by business unit | 297,102 |  |  | 233,165 |  |  | 555,901 |  |  | 454,311 |
Service (1) | 5,409 |  |  | 4,951 |  |  | 10,546 |  |  | 10,219 |
Effect of exchange rates | (5,026) |  |  | 1,781 |  |  | (7,504) |  |  | 3,895 |
Net revenues | $ | 297,485 |  |  | $ | 239,897 |  |  | $ | 558,943 |  |  | $ | 468,425 |
(1) Reflects revenue for service, maintenance and parts |  |  |  |
| Three Months Ended |  | Six Months Ended
(In thousands) | October 1, 2022 |  | October 2, 2021 |  | October 1, 2022 |  | October 2, 2021
Segment operating income |  |  |  |  |  |  |
Plasma | $ | 71,607 |  |  | $ | 42,213 |  |  | $ | 126,733 |  |  | $ | 77,559 |
Blood Center | 37,328 |  |  | 34,600 |  |  | 67,705 |  |  | 68,482 |
Hospital | 38,483 |  |  | 31,229 |  |  | 73,205 |  |  | 62,826 |
Segment operating income | 147,418 |  |  | 108,042 |  |  | 267,643 |  |  | 208,867 |
Corporate expenses (1) | (86,769) |  |  | (68,186) |  |  | (168,353) |  |  | (136,917) |
Effect of exchange rates | (51) |  |  | 3,934 |  |  | 6,194 |  |  | 9,746 |
Integration and transaction costs | (46) |  |  | (625) |  |  | 712 |  |  | (17,358) |
Deal amortization | (8,221) |  |  | (11,400) |  |  | (16,588) |  |  | (23,779) |
Restructuring and restructuring related costs | (3,194) |  |  | (4,513) |  |  | (6,672) |  |  | (14,568) |
Impairment of assets and PCS2 related charges | (83) |  |  | (250) |  |  | 267 |  |  | (3,893) |
MDR and IVDR costs | (2,506) |  |  | (2,347) |  |  | (5,692) |  |  | (4,718) |
Litigation-related charges | (198) |  |  | (145) |  |  | (394) |  |  | (1,083) |
Gains on divestiture | 382 |  |  | — |  |  | 382 |  |  | 9,603 |
Operating income | $ | 46,732 |  |  | $ | 24,510 |  |  | $ | 77,499 |  |  | $ | 25,900 |
(1) Reflects shared service expenses including quality and regulatory, customer and field service, research and development, manufacturing and supply chain, as well as other corporate support functions.
Management reviews revenue based on the reportable segments noted above. Although these reportable segments are primarily product-based, they differ from the Company’s product line revenues for Plasma products and services and Blood Center products and services. Specifically, the Blood Center reportable segment includes plasma products utilized for collection in blood centers primarily for transfusion purposes. Additionally, product line revenues also include service revenues which are excluded from the reportable segments. Net revenues by product line are as follows:
| Three Months Ended |  | Six Months Ended
(In thousands) | October 1, 2022 |  | October 2, 2021 |  | October 1, 2022 |  | October 2, 2021
Plasma products and services | $ | 143,161 |  |  | $ | 102,075 |  |  | $ | 261,513 |  |  | $ | 192,584 |
Blood Center products and services | 61,895 |  |  | 59,931 |  |  | 114,813 |  |  | 117,678 |
Hospital products and services | 92,429 |  |  | 77,891 |  |  | 182,617 |  |  | 158,163 |
Net revenues | $ | 297,485 |  |  | $ | 239,897 |  |  | $ | 558,943 |  |  | $ | 468,425 |
Net revenues generated in the Company’s principle operating regions on a reported basis are as follows:
| Three Months Ended |  | Six Months Ended
(In thousands) | October 1, 2022 |  | October 2, 2021 |  | October 1, 2022 |  | October 2, 2021
United States | $ | 211,724 |  |  | $ | 152,106 |  |  | $ | 393,720 |  |  | $ | 293,134 |
Japan | 15,129 |  |  | 18,812 |  |  | 29,007 |  |  | 36,033 |
Europe | 41,850 |  |  | 41,180 |  |  | 82,307 |  |  | 84,515 |
Asia | 27,861 |  |  | 26,771 |  |  | 52,285 |  |  | 52,723 |
Other | 921 |  |  | 1,028 |  |  | 1,624 |  |  | 2,020 |
Net revenues | $ | 297,485 |  |  | $ | 239,897 |  |  | $ | 558,943 |  |  | $ | 468,425 |

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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