SEGMENT AND ENTERPRISE-WIDE INFORMATION

9 Months Ended

Jan. 01, 2022

Segment Reporting [Abstract]

SEGMENT AND ENTERPRISE-WIDE INFORMATION

14. 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				Nine Months Ended
(In thousands)	January 1, 2022		December 26, 2020		January 1, 2022		December 26, 2020
Net revenues
Plasma	$	96,692	$	102,154	$	250,499	$	249,587
Blood Center	74,527		80,417		221,522		234,446
Hospital	82,100		52,334		235,609		148,927
Net revenues by business unit	253,319		234,905		707,630		632,960
Service (1)	5,436		4,972		15,655		15,396
Effect of exchange rates	1,014		494		4,909		(2,922)
Net revenues	$	259,769	$	240,371	$	728,194	$	645,434
(1) Reflects revenue for service, maintenance and parts

	Three Months Ended				Nine Months Ended
(In thousands)	January 1, 2022		December 26, 2020		January 1, 2022		December 26, 2020
Segment operating income
Plasma	$	51,405	$	52,673	$	128,964	$	129,846
Blood Center	34,561		36,424		103,043		108,926
Hospital	35,072		22,430		97,898		61,672
Segment operating income	121,038		111,527		329,905		300,444
Corporate expenses (1)	(68,013)		(63,202)		(204,930)		(185,005)
Effect of exchange rates	5,807		4,286		15,553		8,644
Integration and transaction costs	(1,860)		—		(19,218)		(3,063)
Deal amortization	(12,151)		(7,805)		(35,930)		(24,204)
Restructuring and restructuring related costs	(5,682)		(3,143)		(20,250)		(11,583)
Impairment of assets and PCS2 related charges	(897)		(1,146)		(4,790)		(4,228)
MDR and IVDR costs	(2,453)		(1,207)		(7,171)		(2,696)
Litigation-related charges	(138)		—		(1,221)		—
Gains on divestitures and sale of assets	—		1,115		9,603		32,613
Operating income	$	35,651	$	40,425	$	61,551	$	110,922
(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				Nine Months Ended
(In thousands)	January 1, 2022		December 26, 2020		January 1, 2022		December 26, 2020
Plasma products and services	$	116,347	$	123,510	$	308,931	$	309,933
Blood Center products and services	59,440		62,787		177,118		182,687
Hospital products and services	83,982		54,074		242,145		152,814
Net revenues	$	259,769	$	240,371	$	728,194	$	645,434

Net revenues generated in the Company’s principle operating regions on a reported basis are as follows:

	Three Months Ended				Nine Months Ended
(In thousands)	January 1, 2022		December 26, 2020		January 1, 2022		December 26, 2020
United States	$	167,270	$	147,607	$	460,404	$	382,600
Japan	19,916		20,854		55,949		57,330
Europe	41,540		41,874		126,055		123,541
Asia	30,434		29,050		83,157		77,602
Other	609		986		2,629		4,361
Net revenues	$	259,769	$	240,371	$	728,194	$	645,434