PROPERTY, PLANT AND EQUIPMENT

9 Months Ended

Dec. 28, 2024

Property, Plant and Equipment [Abstract]

9. PROPERTY, PLANT AND EQUIPMENT


(In thousands)	December 28, 2024		March 30, 2024
Land	$	1,999	$	4,130
Building and building improvements	107,665		124,338
Plant equipment and machinery	191,063		204,622
Office equipment and information technology	129,123		129,979
Haemonetics equipment	412,561		456,414
Construction in progress	25,046		39,694
Total	867,457		959,177
Less: accumulated depreciation	(581,350)		(647,815)
Property, plant and equipment, net	$	286,107	$	311,362

During the three and nine months ended December 28, 2024, depreciation expense was $15.2 million and $44.8 million, respectively. During the three and nine months ended December 30, 2023, depreciation expense was $14.2 million and $41.1 million, respectively.

In the third quarter of fiscal 2025, the Company announced the divestiture of its Whole Blood product line within its Blood Center business unit and all related assets and liabilities were recognized as held for sale. The related property, plant and equipment has a gross value of $39.8 million and a net carrying value of $7.3 million, which has been reclassified to Prepaid expenses and other current assets in the Condensed Consolidated Balance Sheets.

In the first quarter of fiscal 2025, the Company received $19.9 million of cash upon the sale of a manufacturing facility and related assets that previously met held for sale criteria, which resulted in a gain of $14.1 million that was recorded in selling, general and administrative expenses on the Condensed Consolidated Statements of Income.