XML 53 R41.htm IDEA: XBRL DOCUMENT
v3.23.1

CAPITAL STOCK (Tables) | 12 Months Ended
--- | ---
Apr. 01, 2023
Share-based Payment Arrangement [Abstract] |
Schedule of Stock-Based Compensation Cost | Compensation cost related to share-based transactions is recognized in the consolidated financial statements based on fair value. The total amount of share-based compensation expense, which is recorded on a straight line basis, is as follows:
(In thousands) | 2023 |  | 2022 |  | 2021
Selling, general and administrative expenses | $21,903 |  | $20,694 |  | $22,888
Research and development | 2,364 |  |  | 2,537 |  |  | 1,874 |
Cost of goods sold | 1,316 |  |  | 1,128 |  |  | 754 |
| $25,583 |  | $24,359 |  | $25,516
Schedule of Summary of Stock Option Activity | A summary of stock option activity for the fiscal year ended April 1, 2023 is as follows:
| Options Outstanding |  | Weighted Average Exercise Price per Share |  | Weighted Average Remaining Life (years) |  | Aggregate Intrinsic Value ($000’s)
Outstanding at April 2, 2022 | 1,056,638 |  |  | $ | 66.87 |  |  | 3.79 |  | $ | 12,423 |
Granted | 276,928 |  |  | 58.02 |  |  |  |  |
Exercised | (59,400) |  |  | 44.82 |  |  |  |  |
Forfeited/Canceled | (123,972) |  |  | 82.42 |  |  |  |  |
Outstanding at April 1, 2023 | 1,150,194 |  |  | $ | 64.21 |  |  | 3.55 |  | $ | 27,481 |
Exercisable at April 1, 2023 | 618,735 |  |  | $ | 62.68 |  |  | 1.97 |  | $ | 16,617 |
Vested or expected to vest at April 1, 2023 | 1,054,821 |  |  | $ | 64.44 |  |  | 3.12 |  | $ | 25,311 |
Schedule of Assumptions Utilized for Estimating Fair Value of Option Grants | The assumptions utilized for option grants during the periods presented are as follows:
| 2023 |  | 2022 |  | 2021
Volatility | 45.0 | % |  | 41.9 | % |  | 33.5 | %
Expected life (years) | 5.0 |  | 4.9 |  | 4.9
Risk-free interest rate | 2.9 | % |  | 0.8 | % |  | 0.4 | %
Dividend yield | 0.0 | % |  | 0.0 | % |  | 0.0 | %
Grant-date fair value per Option | $ | 24.86 |  | $ | 20.97 |  | $ | 30.53
Schedule of Assumptions Used, Other than Options | The weighted average rates used to determine the net periodic benefit costs and projected benefit obligations were as follows:
| 2023 |  | 2022 |  | 2021
Discount rate | 2.43 | % |  | 1.38 | % |  | 0.58 | %
Rate of increased salary levels | 1.94 | % |  | 1.81 | % |  | 1.64 | %
Expected long-term rate of return on assets | 0.87 | % |  | 0.69 | % |  | 0.42 | %
Schedule of Summary of Restricted Stock Units Activity | A summary of RSU activity for the fiscal year ended April 1, 2023 is as follows:
| Shares |  | Weighted Average Grant Date Fair Value
Unvested at April 2, 2022 | 386,536 |  |  | $ | 69.27 |
Granted | 207,177 |  |  | 59.36 |
Vested | (161,045) |  |  | 70.24 |
Forfeited | (51,360) |  |  | 65.64 |
Unvested at April 1, 2023 | 381,308 |  |  | $ | 63.94 |
The weighted-average grant-date fair value of RSUs granted and total fair value of RSUs vested are as follows:
| 2023 |  | 2022 |  | 2021
Grant-date fair value per RSU | $ | 59.36 |  |  | $ | 56.96 |  |  | $ | 102.19 |
Fair value of RSUs vested | $ | 70.24 |  |  | $ | 79.60 |  |  | $ | 66.87 |
Schedule of Performance Share Unit awards | A summary of PSU activity for the fiscal year ended April 1, 2023 is as follows:
| Shares |  | Weighted Average Grant Date Fair Value
Unvested at April 2, 2022 | 282,946 |  |  | $ | 102.17 |
Granted(1) | 88,851 |  |  | 84.96 |
Vested | — |  |  | — |
Forfeited | (47,810) |  |  | 89.43 |
Unvested at April 1, 2023 | 323,987 |  |  | $ | 87.35 |
(1) Includes the adjustment of 62,577 shares for awards granted in fiscal 2020, based on actual relative total shareholder return of 0%
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions | The fair values of shares purchased under the Employee Stock Purchase Plan are estimated using the Black-Scholes single option-pricing model with the following weighted average assumptions:
| 2023 |  | 2022 |  | 2021
Volatility | 44.9 | % |  | 55.6 | % |  | 49.8 | %
Expected life (months) | 6 |  | 6 |  | 6
Risk-free interest rate | 2.9 | % |  | 0.1 | % |  | 0.1 | %
Dividend Yield | 0.0 | % |  | 0.0 | % |  | 0.0 | %
Schedule of Share-based Payment Award, Equity Other Than Options, Valuation Assumptions | The assumptions used in the Monte Carlo model for PSUs granted during each fiscal year were as follows:
| 2023 |  | 2022 |  | 2021
Expected stock price volatility | 52.22 | % |  | 49.23 | % |  | 36.79 | %
Peer group stock price volatility | 47.43 | % |  | 45.75 | % |  | 42.31 | %
Correlation of returns | 65.45 | % |  | 65.06 | % |  | 65.12 | %
The weighted-average grant-date fair value of PSUs granted and total fair value of PSUs vested are as follows:
| 2023 |  | 2022 |  | 2021
Grant-date fair value per PSU | $ | 84.96 |  |  | $ | 72.52 |  |  | $ | 123.92 |
Fair value of PSUs vested | $ | — |  |  | $ | — |  |  | $ | 47.43 |

X
- Definition Schedule of Share-based Payment Award, Equity Other Than Options, Valuation Assumptions + References No definition available. + Details
Name: | hae_ScheduleOfShareBasedPaymentAwardEquityOtherThanOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | hae_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=122041274&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding performance-based awards that are fully vested and expected to vest. Includes, but is not limited to, unvested awards for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationArrangementByShareBasedPaymentAwardPerformanceBasedUnitsVestedAndExpectedToVestTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardEmployeeStockPurchasePlanValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration