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RESTRUCTURING
 12 Months Ended
Mar. 29, 2025
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.

Operational Excellence Program

In July 2019, the Board of Directors of the Company approved the 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. During fiscal 2022, the Company revised the program to improve product and service quality, reduce cost principally in its manufacturing and supply chain operations and ensure sustainability while helping to offset impacts from a previously announced customer loss, rising inflationary pressures and effects of the COVID-19 pandemic. The program is closed as of March 29, 2025. During fiscal 2025, 2024 and 2023, the Company incurred $7.7 million, $9.8 million and $11.5 million of restructuring and restructuring related costs under this program, respectively. Total cumulative charges under this program are $84.7 million as of March 29, 2025.

Portfolio Rationalization Initiatives

In November 2023, the Company announced its plans to end of life the ClotPro analyzer system within the Hospital business unit and certain products within the Blood Center business unit, primarily in Whole Blood, including the associated manufacturing operations and closure of certain other facilities. The initiative is closed as of March 29, 2025. During fiscal 2025, 2024 and 2023, the Company incurred $13.0 million, $14.0 million and no restructuring and restructuring related costs under this initiative, respectively. Total cumulative charges under this initiative are $27.0 million as of March 29, 2025.
Market and Regional Alignment

In May 2025, the Board of Directors of the Company approved a new market and regional alignment initiative and delegated authority to the Company’s management to determine the details of the specific actions that will comprise the initiative. This strategic initiative is designed to improve operational performance and reduce costs by directing the Company’s resources toward the markets and geographies that offer the greatest growth and portfolio advancement opportunities. We expect to incur aggregate restructuring and restructuring-related charges of approximately $20 million associated with this initiative, approximately half of which we expect will consist of severance and other employee costs and the remainder of which will consist of other exit costs, primarily related to third party arrangements. These charges, substantially all of which will result in cash outlays, will be incurred as the specific actions required to execute on the initiative are identified and approved and are expected to continue through the end of fiscal 2027. We expect savings from this initiative of approximately $30 million on an annualized basis once the initiative is completed. The amounts and timing of estimated costs and savings are subject to change until finalized. The actual amounts and timing may vary materially based on various factors.

During the fourth quarter of fiscal 2025, the Company incurred $0.6 million of restructuring related costs related to the first action under this initiative, which were approved by our Board of Directors in January 2025. Total cumulative charges under this program are $0.6 million as of March 29, 2025.

The following table summarizes the activity for restructuring reserves related to the portfolio rationalization initiatives, 2020 Program and market and regional alignment initiative for the fiscal years ended March 29, 2025, March 30, 2024 and April 1, 2023, substantially all of which relates to employee severance, other employee costs, inventory reserves and lease termination fees:
(In thousands)Portfolio Rationalization2020 ProgramMarket and Regional AlignmentPrior ProgramsTotal
Balance at April 2, 2022
$— $2,460 $— $345 $2,805 
Costs incurred, net of reversals— 576 — 81 657 
Payments— (1,226)— (86)(1,312)
Balance at April 1, 2023$— $1,810 $— $340 $2,150 
Costs incurred, net of reversals13,915 450 — (276)14,089 
Payments(2,606)(1,775)— (64)(4,445)
Balance at March 30, 2024$11,309 $485 $— $— $11,794 
Costs incurred, net of reversals12,797 566 550 — 13,913 
Payments(12,755)(761)(550)— (14,066)
Non-cash adjustments(8,616)— — — (8,616)
Balance at March 29, 2025$2,735 $290 $— $— $3,025 

The following presents the restructuring costs by line item during fiscal 2025, 2024 and 2023 within our accompanying consolidated statements of income and comprehensive income:
(In thousands) 202520242023
Cost of goods sold$11,328 $11,286 $(215)
Research and development(61)456 — 
Selling, general and administrative expenses2,646 2,347 872 
Total$13,913 $14,089 $657 

As of March 29, 2025, the Company had a restructuring liability of $3.0 million, all of which is payable within the next twelve months.

In addition to the restructuring expenses included in the table above, the Company also incurred costs of $7.2 million, $9.5 million and $10.9 million in fiscal 2025, 2024 and 2023, respectively, that do not constitute restructuring costs under ASC 420,
Exit and Disposal Cost Obligations, and which the Company instead refers to as restructuring related costs. These costs consist primarily of expenditures directly related to the restructuring actions.

The following presents the restructuring related costs by line item during fiscal 2025, 2024 and 2023 within our accompanying consolidated statements of income and comprehensive income:
(In thousands) 202520242023
Cost of goods sold$3,304 $5,734 $7,991 
Research and development1,649 1,750 1,050 
Selling, general and administrative expenses2,292 2,015 1,851 
Total$7,245 $9,499 $10,892 

The tables below present restructuring and restructuring related costs by reportable segment:
Restructuring costs
(In thousands) 202520242023
Plasma$258 $1,015 $(48)
Blood Center4,742 5,606 — 
Hospital1,664 3,863 165 
Corporate7,249 3,605 540 
Total$13,913 $14,089 $657 
Restructuring related costs
(In thousands) 202520242023
Plasma$281 $1,050 $1,385 
Blood Center154 286 75 
Hospital143 408 546 
Corporate6,667 7,755 8,886 
Total$7,245 $9,499 $10,892 
Total restructuring and restructuring related costs$21,158 $23,588 $11,549