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GOODWILL AND INTANGIBLE ASSETS | 12 Months Ended
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Mar. 29, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS The changes in the carrying amount of goodwill by operating segment for fiscal 2025 and 2024 are as follows:
(In thousands) | Plasma |  | Blood Center |  | Hospital |  | Total
Carrying amount as of April 1, 2023 | $ | 29,043 |  |  | $ | 33,855 |  |  | $ | 403,333 |  |  | $ | 466,231 |
Acquisitions | — |  |  | — |  |  | 87,079 |  |  | 87,079 |
Purchase accounting adjustments | — |  |  | — |  |  | 12,283 |  |  | 12,283 |
Currency translation | — |  |  | (371) |  |  | (140) |  |  | (511) |
Carrying amount as of March 30, 2024 | 29,043 |  |  | 33,484 |  |  | 502,555 |  |  | 565,082 |
Divestitures | — |  |  | (6,381) |  |  | — |  |  | (6,381) |
Acquisitions | — |  |  | — |  |  | 69,542 |  |  | 69,542 |
Purchase accounting adjustments | — |  |  | — |  |  | (19,248) |  |  | (19,248) |
Currency translation | — |  |  | (136) |  |  | (4,590) |  |  | (4,726) |
Carrying amount as of March 29, 2025 | $ | 29,043 |  |  | $ | 26,967 |  |  | $ | 548,259 |  |  | $ | 604,269 |
The decrease in goodwill of $19.2 million for purchase accounting adjustments was primarily related to the Company obtaining additional facts and information to finalize the pre-acquisition tax returns and associated analyses for OpSens. This resulted in the Company revising its estimate of the net deferred tax liability recorded as of the acquisition date. Refer to Note 3, Acquisitions, Divestitures and Strategic Investments, for additional information regarding the acquisitions of OpSens and Attune Medical. In the fourth quarter of fiscal 2025, the Company completed the divestiture of its Whole Blood product line within its Blood Center business unit and all related assets and liabilities were sold. The goodwill related to the divestiture of $6.4 million has been removed from the Consolidated Balance Sheets. Refer to Note 3, Acquisitions, Divestitures and Strategic Investments, for additional information regarding the divestiture of its Whole Blood product line. The results of the Company’s goodwill impairment test performed in the fourth quarter of fiscal 2025, 2024 and 2023 indicated that the estimated fair value of all reporting units exceeded their respective carrying values. Th ere were no reporting units at risk of impairment as of the fiscal 2025, 2024 and 2023 annual test dates. The gross carrying amount of intangible assets and the related accumulated amortization as of March 29, 2025 and March 30, 2024 is as follows:
(In thousands) | Gross Carrying Amount |  | Accumulated Amortization |  | Net
As of March 29, 2025 |  |  |  |  |
Amortizable: |  |  |  |  |
Developed technology | $ | 506,143 |  |  | $ | 156,123 |  |  | $ | 350,020 |
Customer contracts and related relationships | 135,561 |  |  | 70,842 |  |  | 64,719 |
Capitalized software | 85,528 |  |  | 76,185 |  |  | 9,343 |
Patents and other | 19,678 |  |  | 6,796 |  |  | 12,882 |
Trade names | 15,955 |  |  | 6,367 |  |  | 9,588 |
Total | $ | 762,865 |  |  | $ | 316,313 |  |  | $ | 446,552 |
Non-amortizable: |  |  |  |  |
In-process software development | 9,190 |  |  |  |  |
Total | $ | 9,190 |  |  |  |  |
(In thousands) | Gross Carrying Amount |  | Accumulated Amortization |  | Net
As of March 30, 2024 |  |  |  |  |
Amortizable: |  |  |  |  |
Developed technology | $ | 464,291 |  |  | $ | 178,413 |  |  | $ | 285,878 |
Customer contracts and related relationships | 255,144 |  |  | 190,033 |  |  | 65,111 |
Capitalized software | 84,837 |  |  | 69,491 |  |  | 15,346 |
Patents and other | 24,504 |  |  | 11,820 |  |  | 12,684 |
Trade names | 14,320 |  |  | 5,456 |  |  | 8,864 |
Total | $ | 843,096 |  |  | $ | 455,213 |  |  | $ | 387,883 |
Non-amortizable: |  |  |  |  |
In-process research and development | $ | 13,667 |  |  |  |  |
In-process software development | 4,567 |  |  |  |  |
Total | $ | 18,234 |  |  |  |  |
During fiscal 2025, the Company acquired Attune Medical and recorded $96.1 million of developed technology, $7.8 million of customer contracts and related relationships and $1.9 million of trade name intangibles based on the purchase accounting valuation. Refer to Note 3 Acquisitions, Divestitures and Strategic Investments, for additional information regarding the acquisition. In the first quarter of fiscal 2025, the Company announced the commercialization of MVP XL and moved the related in-process research and development intangible asset to developed technologies and commenced amortization. In the second quarter of fiscal 2024, the Company recorded an intangible asset impairment charge of $10.4 million related to the intangibles acquired as part of the e nicor GmbH acquisition completed in fiscal 2021 within the Hospital business unit. In the fourth quarter of fiscal 2025, the Company completed the divestiture of its Whole Blood product line within its Blood Center business unit and all related assets and liabilities were sold. The related intangible assets are fully amortized and have a net book value of zero. The gross intangible assets value was $185.6 million. Refer to Note 3 Acquisitions, Divestitures and Strategic Investments, for additional information regarding the divestiture. In fiscal 2024, the Company acquired OpSens and recorded $114.9 million of developed technology, $52.3 million of customer contracts and related relationships and $4.8 million of trade names. Refer to Note 3, Acquisitions, Divestitures and Strategic Investments, for additional information regarding the acquisition. Intangible assets include the value assigned to license rights and developed technology, patents, customer contracts and relationships and trade names. The estimated useful lives for all of these intangible assets are approximately 5 to 15 years. Aggregate amortization expense for amortized intangible assets for fiscal 2025, 2024 and 2023 was $55.6 million, $41.4 million and $42.1 million, respectively. Amortization expense on intangible assets for the next five years is estimated to be as follows:
(In thousands) |  |
Fiscal 2026 |  | $ | 51,563 |
Fiscal 2027 |  | $ | 47,344 |
Fiscal 2028 |  | $ | 45,568 |
Fiscal 2029 |  | $ | 44,320 |
Fiscal 2030 |  | $ | 43,410 |
For costs incurred related to the development of software to be sold, leased, or otherwise marketed, the Company applies the provisions of ASC Topic 985-20, Software - Costs of Software to be Sold, Leased or Marketed, which specifies that costs incurred internally in researching and developing a computer software product should be charged to expense until technological feasibility has been established for the product. Once technological feasibility is established, all software costs should be capitalized until the product is available for general release to customers. The costs capitalized for each project are included in intangible assets in the consolidated financial statements. The Company capitalized $7.7 million and $6.6 million in software development costs for ongoing initiatives during fiscal 2025 and 2024, respectively. At March 29, 2025 and March 30, 2024, the Company had a total of $94.7 million and $89.4 million of software costs capitalized, of which $9.2 million and $4.6 million are related to in process software development initiatives, respectively, and the remaining balance represents in-service assets that are being amortized over their useful lives. Amortization expense for capitalized software was $6.7 million, $8.6 million and $8.5 million for fiscal 2025, 2024 and 2023, respectively.

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