0000313143-22-000024 | 10-K | XBRL Viewer

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DOCUMENT AND ENTITY INFORMATION - USD ($)	12 Months Ended
DOCUMENT AND ENTITY INFORMATION - USD ($)	Apr. 02, 2022	May 20, 2022	Oct. 02, 2021
Document And Entity Information [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Apr. 02, 2022
Current Fiscal Year End Date	--04-02
Document Transition Report	false
Entity File Number	001-14041
Entity Registrant Name	HAEMONETICS CORPORATION
Entity Incorporation, State or Country Code	MA
Entity Tax Identification Number	04-2882273
Entity Address, Address Line One	125 Summer Street,
Entity Address, City or Town	Boston,
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02110
City Area Code	(781)
Local Phone Number	848-7100
Title of 12(b) Security	Common stock, $.01 par value per share
Trading Symbol	HAE
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Small Business	false
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Shell Company	false
ICFR Auditor Attestation Flag	true
Entity Public Float			$ 3,658,462,992
Entity Common Stock, Shares Outstanding		51,277,177
Documents Incorporated by Reference	Portions of the definitive proxy statement for our Annual Meeting of Shareholders to be held on August 5, 2022 are incorporated by reference in Part III of this report.
Entity Central Index Key	0000313143
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false

AUDIT INFORMATION	12 Months Ended
AUDIT INFORMATION	Apr. 02, 2022
Audit Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Boston, Massachusetts
Auditor Firm ID	42

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020
Income Statement [Abstract]
Net revenues	$ 993,196	$ 870,463	$ 988,479
Cost of goods sold	487,694	472,625	503,966
Gross profit	505,502	397,838	484,513
Operating expenses:
Research and development	46,801	32,857	30,883
Selling, general and administrative	339,563	274,188	282,017
Amortization of intangible assets	47,414	32,830	25,746
Impairment of assets	577	1,028	50,599
Gains on divestitures and sale of assets	(9,603)	(32,812)	(8,083)
Total operating expenses	424,752	308,091	381,162
Operating income	80,750	89,747	103,351
Interest and other expense, net	(17,121)	(16,834)	(16,199)
Income before provision (benefit) for income taxes	63,629	72,913	87,152
Provision (benefit) for income taxes	20,254	(6,556)	10,626
Net income	$ 43,375	$ 79,469	$ 76,526
Net income per share - basic (in dollars per share)	$ 0.85	$ 1.57	$ 1.51
Net income per share - diluted (in dollars per share)	$ 0.84	$ 1.55	$ 1.48
Weighted average shares outstanding
Basic (in shares)	51,047	50,688	50,692
Diluted (in shares)	51,353	51,292	51,815

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 43,375	$ 79,469	$ 76,526
Other comprehensive income (loss):
Impact of defined benefit plans, net of tax	2,179	(351)	318
Foreign currency translation adjustment, net of tax	(6,391)	9,572	(5,587)
Unrealized gain (loss) on cash flow hedges, net of tax	5,785	(489)	(10,111)
Reclassifications into earnings of cash flow hedge losses, net of tax	2,020	6,856	625
Other comprehensive income (loss)	3,593	15,588	(14,755)
Comprehensive income	$ 46,968	$ 95,057	$ 61,771

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Amount after tax and reclassification adjustments of other comprehensive income (loss).

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CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Apr. 02, 2022	Apr. 03, 2021
Current assets:
Cash and cash equivalents	$ 259,496	$ 192,305
Accounts receivable, less allowance of $2,475 at April 2, 2022 and $2,226 at April 3, 2021	159,376	127,555
Inventories, net	293,027	322,614
Prepaid expenses and other current assets	44,132	51,072
Total current assets	756,031	693,546
Property, plant and equipment, net	258,482	217,559
Intangible assets, less accumulated amortization of $376,552 at April 2, 2022 and $320,640 at April 3, 2021	310,261	365,483
Goodwill	467,287	466,444
Deferred tax asset	4,468	6,009
Other long-term assets	63,205	70,882
Total assets	1,859,734	1,819,923
Current liabilities:
Notes payable and current maturities of long-term debt	214,148	17,016
Accounts payable	58,371	50,293
Accrued payroll and related costs	48,540	47,600
Other current liabilities	121,207	138,586
Total current liabilities	442,266	253,495
Long-term debt, net of current maturities	559,441	690,592
Deferred tax liability	28,727	43,825
Other long-term liabilities	79,876	100,341
Stockholders’ equity:
Common stock, $0.01 par value; Authorized — 150,000,000 shares; Issued and outstanding — 51,124,240 shares at April 2, 2022 and 50,868,820 shares at April 3, 2021	511	509
Additional paid-in capital	572,476	602,727
Retained earnings	202,391	157,981
Accumulated other comprehensive loss	(25,954)	(29,547)
Total stockholders’ equity	749,424	731,670
Total liabilities and stockholders’ equity	$ 1,859,734	$ 1,819,923

CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - USD ($) $ in Thousands	Apr. 02, 2022	Apr. 03, 2021
Statement of Financial Position [Abstract]
Accounts receivable, allowance	$ 2,475	$ 2,226
Intangible assets, accumulated amortization	$ 376,552	$ 320,640
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	150,000,000	150,000,000
Common stock, issued (in shares)	51,124,240	50,868,820
Common stock, outstanding (in shares)	51,124,240	50,868,820

CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-in Capital	Additional Paid-in Capital Cumulative Effect, Period of Adoption, Adjustment	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income/(Loss)
Balance, shares (in shares) at Mar. 30, 2019			51,020
Balance, value at Mar. 30, 2019	$ 667,868		$ 510	$ 536,320		$ 161,418		$ (30,380)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Employee stock purchase plan (in shares)			45
Employee stock purchase plan	3,369		$ 1	3,368
Exercise of stock options (in shares)			232
Exercise of stock options	8,647		$ 2	8,645
Shares repurchased (in shares)			(1,483)
Shares repurchased	(175,000)		$ (15)	(15,553)		(159,432)
Issuance of restricted stock, net of cancellations (in shares)			509
Issuance of restricted stock, net of cancellations	0		$ 5	(5)
Share-based compensation expense	20,454			20,454
Net income	76,526					76,526
Other comprehensive income (loss)	(14,755)							(14,755)
Balance, shares (in shares) at Mar. 28, 2020			50,323
Balance, value at Mar. 28, 2020	587,109		$ 503	553,229		78,512		(45,135)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Employee stock purchase plan (in shares)			44
Employee stock purchase plan	4,013		$ 1	4,012
Exercise of stock options (in shares)			128
Exercise of stock options	6,219		$ 1	6,218
Issuance of restricted stock, net of cancellations (in shares)			374
Issuance of restricted stock, net of cancellations	0		$ 4	(4)
Share-based compensation expense	25,516			25,516
Equity component of convertible notes, net of issuance costs	61,156			61,156
Purchase of capped call related to convertible notes	(47,400)			(47,400)
Net income	79,469					79,469
Other comprehensive income (loss)	15,588							15,588
Balance, shares (in shares) at Apr. 03, 2021			50,869
Balance, value at Apr. 03, 2021	731,670	$ (60,121)	$ 509	602,727	$ (61,156)	157,981	$ 1,035	(29,547)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Employee stock purchase plan (in shares)			74
Employee stock purchase plan	4,209		$ 0	4,209
Exercise of stock options (in shares)			66
Exercise of stock options	2,338		$ 1	2,337
Issuance of restricted stock, net of cancellations (in shares)			115
Issuance of restricted stock, net of cancellations	1		$ 1	0
Share-based compensation expense	24,359			24,359
Net income	43,375					43,375
Other comprehensive income (loss)	3,593							3,593
Balance, shares (in shares) at Apr. 02, 2022			51,124
Balance, value at Apr. 02, 2022	$ 749,424		$ 511	$ 572,476		$ 202,391		$ (25,954)

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020
Cash Flows from Operating Activities:
Net income	$ 43,375	$ 79,469	$ 76,526
Non-cash items:
Depreciation and amortization	97,747	84,287	110,289
Impairment of assets	7,953	21,969	50,599
Share-based compensation expense	24,359	25,516	20,454
Gain on divestiture and sale of assets	(9,603)	(32,812)	(8,083)
Contingent consideration expense	10,461	0	0
Deferred tax benefit	5,013	(19,866)	(6,958)
Amortization of deferred financing costs	3,404	564	596
(Benefit) provision for losses on inventory	(861)	7,860	(2,904)
Other non-cash operating activities	5,592	1,500	2,260
Change in operating assets and liabilities:
Change in accounts receivable	(34,974)	44,121	18,863
Change in inventories	24,307	(38,909)	(84,721)
Change in prepaid income taxes	2,870	(3,822)	1,480
Change in other assets and other liabilities	(15,022)	(4,650)	(2,876)
Change in accounts payable and accrued expenses	7,642	(56,422)	(17,308)
Net cash provided by operating activities	172,263	108,805	158,217
Cash Flows from Investing Activities:
Capital expenditures	(96,509)	(37,040)	(48,758)
Proceeds from divestiture	10,642	44,587	9,808
Proceeds from sale of property, plant and equipment	2,022	1,815	16,774
Acquisitions	(2,500)	(434,804)	(35,000)
Net cash used in investing activities	(86,345)	(425,442)	(57,176)
Cash Flows from Financing Activities:
Repayment of term loan borrowings	(17,500)	(21,875)	(13,125)
Net (decrease) increase in short-term loans	0	(60,000)	45,000
Proceeds from issuance of convertible notes	0	500,000	0
Purchase of capped call related to convertible notes	0	(47,400)	0
Transaction costs paid in connection with convertible notes issuance	0	(13,457)	0
Contingent consideration payments	(4,791)	0	0
Proceeds from employee stock purchase plan	4,209	4,013	3,369
Proceeds from exercise of stock options	2,338	6,217	8,647
Share repurchases	0	0	(175,000)
Other financing activities	(5)	(46)	(99)
Net cash (used) in provided by financing activities	(15,749)	367,452	(131,208)
Effect of exchange rates on cash and cash equivalents	(2,978)	4,179	(1,873)
Net Change in Cash and Cash Equivalents	67,191	54,994	(32,040)
Cash and Cash Equivalents at Beginning of Year	192,305	137,311	169,351
Cash and Cash Equivalents at End of Year	259,496	192,305	137,311
Supplemental Disclosures of Cash Flow Information:
Interest paid	6,187	7,824	12,545
Income taxes paid	24,298	12,487	11,507
Transfers from inventory to fixed assets for placement of Haemonetics equipment	51,800	9,287	14,479
Tenant improvement allowances excluded from capital expenditures	$ 0	$ 0	$ 5,660

DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION	12 Months Ended
DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION	Apr. 02, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION	DESCRIPTION OF THE BUSINESS AND BASIS OF PRESENTATION Haemonetics is a global healthcare company dedicated to providing a suite of innovative medical products and solutions for customers, to help them improve patient care and reduce the cost of healthcare. Our technology addresses important medical markets: blood and plasma component collection, the surgical suite and hospital transfusion services. Blood is essential to a modern healthcare system. Blood and its components (plasma, red cells and platelets) have many vital and frequently life-saving clinical applications. Plasma is used for patients with major blood loss and is manufactured into biopharmaceuticals to treat a variety of illnesses, including immune diseases and coagulation disorders. Red cells treat trauma patients or patients undergoing surgery with high blood loss, such as open heart surgery or organ transplant. Platelets have many uses in patient care, including supporting cancer patients undergoing chemotherapy. Haemonetics manages its business in three principal reporting segments: Plasma, Blood Center and Hospital. For that purpose, “Plasma” includes plasma collection devices and disposables, plasma donor management software, and anticoagulant and saline sold to plasma customers. “Blood Center” includes blood collection and processing devices and disposables for red cells, platelets and whole blood. “Hospital”, which is comprised of Hemostasis Management, Vascular Closure, Transfusion Management and Cell Salvage products, includes devices and methodologies for measuring coagulation characteristics of blood, surgical blood salvage systems, specialized blood cell processing systems and disposables, blood transfusion management software and vascular closure devices. The accompanying consolidated financial statements present separately the Company's consolidated financial position, results of operations, cash flows and changes in shareholders’ equity. The consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). All amounts presented, except per share amounts, are stated in thousands of U.S. dollars, unless otherwise indicated. The Company considers events or transactions that occur after the balance sheet date but prior to the issuance of the financial statements to provide additional evidence relative to certain estimates or to identify matters that require additional disclosure. Subsequent events have been evaluated as required. There were no material recognized or unrecognized subsequent events.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Apr. 02, 2022

Accounting Standards Update and Change in Accounting Principle [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Fiscal Year

Haemonetics' fiscal year ends on the Saturday closest to the last day of March. Fiscal 2021 included 53 weeks with each of the first three quarters having 13 weeks and the fourth quarter having 14 weeks. Fiscal 2022 and 2020 included 52 weeks with each quarter having 13 weeks.

Principles of Consolidation

The accompanying consolidated financial statements include all accounts including those of its subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could vary from the amounts derived from its estimates and assumptions. The Company considers estimates to be critical if they are required to make assumptions about material matters that are uncertain at the time of estimation or if materially different estimates could have been made or it is reasonably likely that the accounting estimate will change from period to period. The following are areas considered to be critical and require management’s judgment: revenue recognition, inventory provisions, intangible asset and goodwill valuation, legal and other judgmental accruals and income taxes.

Contingencies

The Company may become involved in various legal proceedings that arise in the ordinary course of business, including, without limitation, patent infringement, product liability and environmental matters. Accruals recorded for various contingencies including legal proceedings, employee related litigation, self-insurance and other claims are based on judgment, the probability of losses and, where applicable, the consideration of opinions of internal and/or external legal counsel and actuarially determined estimates. When a loss is probable and a range of loss is established but a best estimate cannot be made, the Company records the minimum loss contingency amount, which could be zero. These estimates are often initially developed substantially earlier than the ultimate loss is known and the estimates are reevaluated each accounting period, as additional information is available. As information becomes known, an additional loss provision is recorded when either a best estimate can be made or the minimum loss amount is increased. When events result in an expectation of a more favorable outcome than previously expected, the best estimate is changed to a lower amount.

Revenue Recognition

The Company's revenue recognition policy is to recognize revenues from product sales, software and services in accordance with the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Codification (“ASC”) Update No. 2014-19, Revenue from Contracts with Customers (Topic 606). Revenue is recognized when obligations under the terms of a contract with a customer are satisfied; this occurs with the transfer of control of the Company’s goods or services. The Company considers revenue to be earned when all of the following criteria are met: it has a contract with a customer that creates enforceable rights and obligations; promised products or services are identified; the transaction price, or the consideration the Company expects to receive for transferring goods or providing services, is determinable and it has transferred control of the promised items to the customer. A promise in a contract to transfer a distinct good or service to the customer is identified as a performance obligation. A contract’s transaction price is allocated to each performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. Some of the Company’s contracts have multiple performance obligations. For contracts with multiple performance obligations, the Company allocates the contract’s transaction price to each performance obligation based on the estimated standalone selling prices of the good or service in the contract. For goods or services for which observable standalone selling prices are not available, the Company uses an expected cost plus a margin approach to estimate the standalone selling price of each performance obligation.

Product Revenues

The majority of the Company’s performance obligations related to product sales are satisfied at a point in time. Product revenue consists of the sale of its disposable blood component collection and processing sets and the related equipment. The Company’s performance obligation related to product sales is satisfied upon shipment or delivery to the customer based on the specified terms set forth in the customer contract. Shipping and handling activities performed after a customer obtains control of the good are treated as fulfillment activities and are not considered to be a separate performance obligation. Revenue is recognized over time for maintenance plans provided to customers that provide services beyond the Company’s standard warranty period. Payment terms between customers related to product sales vary by the type of customer, country of sale, and the products or services offered and could result in an unbilled receivable or deferred revenue balance depending on whether the performance obligation has been satisfied (or partially satisfied).

For product sales to distributors, the Company recognizes revenue for both equipment and disposables upon shipment to distributors, which is when its performance obligations are complete. The Company's standard contracts with its distributors state that title to the equipment passes to the distributors at point of shipment to a distributor’s location. The distributors are responsible for shipment to the end customer along with any installation, training and acceptance of the equipment by the end customer. Payments from distributors are not contingent upon resale of the product.

The Company also places equipment at customer sites. While the Company retains ownership of this equipment, the customer has the right to use it for a period of time provided they meet certain agreed to conditions. The Company recovers the cost of providing the equipment from the sale of its disposables.

Software and Other Revenues

To a lesser extent, the Company enters into other types of contracts including certain software licensing arrangements to provide software solutions to support its plasma, blood collection and hospital customers. A portion of its software sales are perpetual licenses typically accompanied by significant implementation services related to software customization as well as

other professional and technical services. The Company generally recognizes revenue from the sale of perpetual licenses and related customization services over time (the Company is creating or enhancing an asset that the customer controls) using an input method which requires it to make estimates of the extent of progress toward completion of the contract. When the Company provides other services, including in some instances hosting, technical support and maintenance, it recognizes these fees and charges over time (the customer simultaneously receives and consumes benefits), as performance obligations for these services are satisfied during the contract period. Certain of the Company's software licensing arrangements are term-based licenses that include a per-collection or a usage-based fee related to the use of the license and the related technical support and hosting services. For these usage-based arrangements, the Company applies the revenue recognition exception resulting in revenue recognition occurring upon the later of actual usage or satisfaction of the related performance obligations. The payment terms for software licensing arrangements vary by customer pursuant to the terms set forth in the customer contract and result in an unbilled receivable or deferred revenue balance depending on whether the performance obligation has been satisfied (or partially satisfied).

Significant Judgments

Revenues from product sales are recorded at the net sales price, which includes estimates of variable consideration related to rebates, product returns and volume discounts. These reserves, which are based on estimates of the amounts earned or to be claimed on the related sales, are recorded as a reduction of revenue and a current liability. The Company's estimates take into consideration historical experience, current contractual and statutory requirements, specific known market events and trends, industry data, and forecasted customer buying and payment patterns. Overall, these reserves reflect the Company’s best estimates of the amount of consideration to which it is entitled based on the terms of the contract. The amount of variable consideration included in the net sales price is limited to the amount that is probable not to result in a significant reversal in the amount of the cumulative revenue recognized in a future period. Revenue recognized in the current period related to performance obligations satisfied in prior periods was not material. If the Company is unable to estimate the expected rebates reasonably, it records a liability for the maximum potential rebate or discount that could be earned. In circumstances where the Company provides upfront rebate payments to customers, it capitalizes the rebate payments and amortizes the resulting asset as a reduction of revenue using a systematic method over the life of the contract.

Contract Balances

The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables (contract assets), and customer advances and deposits (contract liabilities) on the consolidated balance sheets. The difference in timing between billing and revenue recognition primarily occurs in software licensing arrangements, resulting in contract assets and contract liabilities.

Practical Expedients

The Company elected not to disclose the value of transaction price allocated to unsatisfied performance obligations for contracts with an original expected length of one year or less. When applicable, the Company has also elected to use the practical expedient to not adjust the promised amount of consideration for the effects of a significant financing component if it is expected, at contract inception, that the period between when the Company transfers a promised good or service to a customer and when the customer pays for that good or service, will be one year or less.

Translation of Foreign Currencies

All assets and liabilities of foreign subsidiaries are translated at the rate of exchange at year-end while sales and expenses are translated at an average rate in effect during the year. The net effect of these translation adjustments is shown in the accompanying financial statements as a component of stockholders' equity. Foreign currency transaction gains and losses, including those resulting from intercompany transactions, are charged directly to earnings and included in other expense, net on the consolidated statements of income. The impact of foreign exchange on long-term intercompany loans, for which repayment has not been scheduled or planned, are recorded in accumulated other comprehensive loss on the consolidated balance sheet.

Cash and Cash Equivalents

Cash equivalents include various instruments such as money market funds, U.S. government obligations and commercial paper with maturities of three months or less at date of acquisition. Cash and cash equivalents are recorded at cost, which

approximates fair market value. As of April 2, 2022, cash and cash equivalents consisted primarily of investments in United States Government Agency and institutional money market funds.

Allowance for Doubtful Accounts

The Company establishes a specific allowance for customers when it is probable that they will not be able to meet their financial obligations. Customer accounts are reviewed individually on a regular basis and reserves are established as deemed appropriate. The Company also maintains a general reserve using a percentage that is established based upon the age of its receivables and its collection history. The Company establishes allowances for balances not yet due and past due accounts based on past experience.

Inventories

Inventories are stated at the lower of cost or market and include the cost of material, labor and manufacturing overhead. Cost is determined with the first-in, first-out method. The Company has based its provisions for excess, expired and obsolete inventory primarily on its estimates of forecasted net sales. Significant changes in the timing or level of demand for the Company's products result in recording additional provisions for excess, expired and obsolete inventory. Additionally, uncertain timing of next-generation product approvals, variability in product launch strategies, non-cancelable purchase commitments, product recalls and variation in product utilization all affect the Company's estimates related to excess, expired and obsolete inventory.

Property, Plant and Equipment

Property, plant and equipment is recorded at historical cost. The Company provides for depreciation and amortization by charges to operations using the straight-line method in amounts estimated to recover the cost of the building and improvements, equipment and furniture and fixtures over their estimated useful lives as follows:


Asset Classification						Estimated Useful Lives
Building						30-40 Years
Building improvements						5-20 Years
Plant equipment and machinery						3-15 Years
Office equipment and information technology						3-10 Years
Haemonetics equipment						3-7 Years

The Company evaluates the depreciation periods of property, plant and equipment to determine whether events or circumstances warrant revised estimates of useful lives. All property, plant and equipment are also tested for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable.

The Company's installed base of devices includes devices owned by the Company and devices sold to the customer. The asset on its balance sheet classified as Haemonetics equipment consists of medical devices installed at customer sites but owned by Haemonetics. Generally, the customer has the right to use it for a period of time as long as they meet the conditions the Company has established, which among other things, generally include one or more of the following:

•Purchase and consumption of a certain level of disposable products

•Payment of monthly rental fees

•An asset utilization performance metric, such as performing a minimum level of procedures per month per device

Consistent with the impairment tests noted below for other intangible assets subject to amortization, the Company reviews Haemonetics equipment and the related useful lives of such equipment at least once a year, or more frequently if certain conditions arise, to determine if any adverse conditions exist that would indicate the carrying value of these assets may not be recoverable. To conduct these reviews, the Company estimates the future amount and timing of demand for disposables used with these devices, from which it generates revenues. The Company also considers product life cycle in its evaluation of useful life and recoverability. Changes in expected demand can result in additional depreciation expense, which is classified as cost of goods sold. Any significant unanticipated changes in demand could impact the value of the Company's devices and its reported operating results.

Leasehold improvements are depreciated over the lesser of their useful lives or the term of the lease. Maintenance and repairs are generally expensed to operations as incurred. When the repair or maintenance costs significantly extend the life of the asset, these costs may be capitalized. When equipment and improvements are sold or otherwise disposed of, the asset cost and accumulated depreciation are removed from the accounts and the resulting gain or loss, if any, is included in the consolidated statements of income.

Goodwill and Intangible Assets

Goodwill represents the excess purchase price over the fair value of the net tangible and other identifiable intangible assets acquired. Goodwill is not amortized. Instead goodwill is reviewed for impairment at least annually, or on an interim basis between annual tests when events or circumstances indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying value. The Company performs its annual impairment test on the first day of the fiscal fourth quarter for each of its reporting units.

Under ASC Update No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment entities perform their goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An impairment charge is recognized for the amount by which the carrying value exceeds the reporting unit's fair value. A reporting unit is defined as an operating segment or one level below an operating segment, referred to as a component. The Company determines its reporting units 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 aggregates components within an operating segment that have similar economic characteristics. The Company's reportable and operating segments are as follows: Plasma, Blood Center, and Hospital.

When allocating goodwill from business combinations to its reporting units, the Company assigns goodwill to the reporting units that it expects to benefit from the respective business combination at the time of acquisition. In addition, for purposes of performing its goodwill impairment tests, assets and liabilities, including corporate assets, which relate to a reporting unit’s operations and would be considered in determining its fair value, are allocated to the individual reporting units. The Company allocates assets and liabilities not directly related to a specific reporting unit, but from which the reporting unit benefits, based primarily on the respective revenue contribution of each reporting unit.

The Company uses the income approach, specifically the discounted cash flow method, to derive the fair value of each of its reporting units in preparing its goodwill impairment assessments. This approach calculates fair value by estimating the after-tax cash flows attributable to a reporting unit and then discounting these after-tax cash flows to a present value using a risk-adjusted discount rate. The Company selected this method as being the most meaningful in preparing its goodwill assessments because the use of the income approach typically generates a more precise measurement of fair value than the market approach. In applying the income approach to its accounting for goodwill, the Company makes assumptions about the amount and timing of future expected cash flows, terminal value growth rates and appropriate discount rates. The amount and timing of future cash flows within the Company's discounted cash flow analysis is based on its most recent operational budgets, long range strategic plans and other estimates. The terminal value growth rate is used to calculate the value of cash flows beyond the last projected period in the Company's discounted cash flow analysis and reflects the Company's best estimates for stable, perpetual growth of its reporting units. The Company uses estimates of market-participant risk adjusted weighted average cost of capital as a basis for determining the discount rates to apply to its reporting units’ future expected cash flows. The Company corroborated the valuations that arose from the discounted cash flow approach by performing both a market multiple valuation and by reconciling the aggregate fair value of its reporting units to its market capitalization at the time of the test.

During the fourth quarter of fiscal 2022, 2021 and 2020, the Company performed its annual goodwill impairment test. The results of the goodwill impairment test performed indicated that the estimated fair value of all of its reporting units exceeded their respective carrying values. There were no reporting units at risk of impairment as of the fiscal 2022, 2021 and 2020 annual test date.

The Company reviews intangible assets subject to amortization for impairment at least annually or more frequently if certain conditions arise to determine if any adverse conditions exist that would indicate that the carrying value of an asset or asset group may not be recoverable, or that a change in the remaining useful life is required. Conditions indicating that an impairment exists include, but are not limited to, a change in the competitive landscape, internal decisions to pursue new or different technology strategies, a loss of a significant customer or a significant change in the marketplace including prices paid for its products or the size of the market for its products.

When an impairment indicator exists, the Company tests the intangible asset for recoverability. For purposes of the recoverability test, the Company groups its amortizable intangible assets with other assets and liabilities at the lowest level of identifiable cash flows if the intangible asset does not generate cash flows independent of other assets and liabilities. If the carrying value of the intangible asset (asset group) exceeds the undiscounted cash flows expected to result from the use and eventual disposition of the intangible asset (asset group), the Company will write the carrying value down to the fair value in the period identified.

The Company generally calculates the fair value of its intangible assets as the present value of estimated future cash flows it expects to generate from the asset using a risk-adjusted discount rate. In determining its estimated future cash flows associated with its intangible assets, the Company uses estimates and assumptions about future revenue contributions, cost structures and remaining useful lives of the asset (asset group).

If the Company determines the estimate of an intangible asset's remaining useful life should be reduced based on its expected use of the asset, the remaining carrying amount of the asset is amortized prospectively over the revised estimated useful life. During fiscal 2022 the Company recognized impairment charges of intangible assets of $0.6 million. In 2021 and 2020 the Company did not incur any intangible asset impairments.

The Company has in-process research and development (“IPR&D”) intangible assets with indefinite lives. IPR&D assets are not amortized. The Company reviews these assets for impairment at least annually, or on an interim basis between annual tests when events or circumstances indicate that it is more likely than not that the fair value of the asset is less than its carrying value. The Company performs its annual impairment test on the first day of the fiscal fourth quarter for its IPR&D assets. The Company makes assumptions about future cash flows, terminal value growth, costs for completion and appropriate discount rates. The Company elected a qualitative assessment in fiscal year 2022.

Accounting for the Costs of Computer Software to be Sold, Leased, or Otherwise Marketed

ASC Topic 985-20, Software - Costs of Software to be Sold, Leased or Marketed, 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, at which point capitalized costs are amortized over their estimated useful life of 5 to 10 years. Technological feasibility is established when it has a detailed design of the software and when research and development activities on the underlying device, if applicable, are completed. The Company capitalizes costs associated with both software that it sells as a separate product and software that is embedded in a device.

The Company reviews the net realizable value of capitalized assets periodically to assess the recoverability of amounts capitalized. There were no impairment charges recorded during fiscal 2022, 2021 and 2020. In the future, the net realizable value may be adversely affected by the loss of a significant customer or a significant change in the market place, which could result in an impairment being recorded.

Other Current Liabilities

Other current liabilities represent items payable or expected to settle within the next twelve months. The items included in the fiscal year end balances were:


(In thousands)	April 2, 2022		April 3, 2021
VAT liabilities	$	3,681	$	4,431
Forward contracts and interest rate swaps	1,894		6,353
Deferred revenue	31,826		26,272
Accrued taxes	10,227		19,226
Lease liability	7,196		7,708
Acquisition related liability(1)	1,435		14,419
Contingent consideration	31,184		20,942
All other	33,764		39,235
Total	$	121,207	$	138,586
(1)Related to equity and employee compensation payments associated with the acquisition of Cardiva Medical Inc. that were funded to a third party agent at the transaction closing date but were not yet paid to certain selling shareholders and/or employees as of April 2, 2022 and April 3, 2021.

Other Long-Term Liabilities

Other long-term liabilities represent items that are not payable or expected to settle within the next twelve months.

Research and Development Expenses

All research and development costs are expensed as incurred.

Advertising Costs

All advertising costs are expensed as incurred and are included in selling, general and administrative expenses in the consolidated statements of income. Advertising expenses were $4.4 million, $2.7 million and $4.3 million in fiscal 2022, 2021 and 2020, respectively.

Shipping and Handling Costs

Shipping and handling costs are included in selling, general and administrative expenses.

Income Taxes

The income tax provision is calculated for all jurisdictions in which the Company operates. The income tax provision process involves calculating current taxes due and assessing temporary differences arising from items that are taxable or deductible in different periods for tax and accounting purposes and are recorded as deferred tax assets and liabilities. Deferred tax assets are evaluated for realizability and a valuation allowance is maintained for the portion of the Company's deferred tax assets that are not more-likely-than-not realizable. All available evidence, both positive and negative, has been considered to determine whether, based on the weight of that evidence, a valuation allowance is needed against the deferred tax assets. Refer to Note 6, Income Taxes, for further information and discussion of the Company's income tax provision and balances.

The Company files income tax returns in all jurisdictions in which it operates. The Company records a liability for uncertain tax positions taken or expected to be taken in income tax returns. The Company's financial statements reflect expected future tax consequences of such positions presuming the taxing authorities' full knowledge of the position and all relevant facts. The Company records a liability for the portion of unrecognized tax benefits claimed that it has determined are not more-likely-than-not realizable. These tax reserves have been established based on management's assessment as to the potential exposure attributable to the Company's uncertain tax positions as well as interest and penalties attributable to these uncertain tax positions. All tax reserves are analyzed quarterly and adjustments are made as events occur that result in changes in judgment.

The Company evaluates at the end of each reporting period whether some or all of the undistributed earnings of its foreign subsidiaries are permanently reinvested. The Company recognizes deferred income tax liabilities to the extent that management asserts that undistributed earnings of its foreign subsidiaries are not permanently reinvested or will not be permanently reinvested in the future. The Company's position is based upon several factors including management’s evaluation of the Haemonetics and its subsidiaries’ financial requirements, the short-term and long-term operational and fiscal objectives of the Company and the tax consequences associated with the repatriation of earnings.

Convertible Senior Notes

Prior to April 4, 2021, the Company accounted for convertible senior notes as separate liability and equity components, determining the fair value of the respective liability components based on an estimate of the fair value of a similar liability without a conversion option and assigning the residual value to the equity component.

Effective April 4, 2021, the Company accounted for convertible senior notes as a single liability measured at its amortized cost. See Recent Accounting Pronouncements below. At issuance, the carrying amount is calculated as the proceeds, net of initial debt issuance costs. The difference between the principal amount and carrying value is amortized to interest expense over the term of the convertible senior notes using the effective interest rate method.

A detailed analysis of the terms of the convertible senior notes transactions is required to determine existence of any derivatives that may require separate mark-to-market accounting under applicable accounting guidance.

Derivative Instruments

The Company accounts for its derivative financial instruments in accordance with ASC Topic 815, Derivatives and Hedging (“ASC 815”) and ASC Topic 820, Fair Value Measurements and Disclosures (“ASC 820”). In accordance with ASC 815, the Company records all derivatives on the balance sheet at fair value. The accounting for the change in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative as a hedging instrument for accounting purposes and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. In addition, ASC 815 provides that, for derivative instruments that qualify for hedge accounting, changes in the fair value are either (a) offset against the change in fair value of the hedged assets, liabilities, or firm commitments through earnings or (b) recognized in equity until the hedged item is recognized in earnings, depending on whether the derivative is being used to hedge changes in fair value or cash flows. The ineffective portion of a derivative’s change in fair value is immediately recognized in earnings. The Company does not use derivative financial instruments for trading or speculation purposes.

When the underlying hedged transaction affects earnings, the gains or losses on the forward foreign exchange rate contracts designated as hedges are recorded in net revenues, cost of goods sold, operating expenses and other expense, net in the Company's consolidated statements of income, depending on the nature of the underlying hedged transactions. The cash flows related to the gains and losses are classified in the consolidated statements of cash flows as part of cash flows from operating activities. For those derivative instruments that are not designated as part of a hedging relationship the Company records the gains or losses in earnings currently. These gains and losses are intended to offset the gains and losses recorded on net monetary assets or liabilities that are denominated in foreign currencies. The Company recorded foreign currency losses of $1.5 million, $0.7 million and $2.9 million in fiscal 2022, 2021 and 2020, respectively.

On a quarterly basis, the Company assesses whether the cash flow hedges are highly effective in offsetting changes in the cash flow of the hedged item. The Company manages the credit risk of its counterparties by dealing only with institutions that it considers financially sound and considers the risk of non-performance to be remote. Additionally, the Company's interest rate risk management strategy includes the use of interest rate swaps to mitigate its exposure to changes in variable interest rates. The Company's objective in using interest rate swaps is to add stability to interest expense and to manage and reduce the risk inherent in interest rate fluctuations.

The Company's derivative instruments do not subject its earnings or cash flows to material risk, as gains and losses on these derivatives are intended to offset losses and gains on the item being hedged. The Company does not enter into derivative transactions for speculative purposes and it does not have any non-derivative instruments that are designated as hedging instruments pursuant to ASC 815.

Share-Based Compensation

The Company expenses the fair value of share-based awards granted to employees, board members and others, net of estimated forfeitures. To calculate the grant-date fair value of its stock options the Company uses the Black-Scholes option-pricing model and for performance share units it uses Monte Carlo simulation models.

Costs Associated with Exit Activities

The Company records employee termination costs in accordance with ASC Topic 712, Compensation - Nonretirement and Postemployment Benefits, if it pays the benefits as part of an on-going benefit arrangement, which includes benefits provided as part of its established severance policies or that it provides in accordance with international statutory requirements. The Company accrues employee termination costs associated with an on-going benefit arrangement if the obligation is attributable to prior services rendered, the rights to the benefits have vested, the payment is probable and the liability can be reasonably estimated. The Company accounts for employee termination benefits that represent a one-time benefit in accordance with ASC Topic 420, Exit or Disposal Cost Obligations. It records such costs into expense over the employee’s future service period, if any.

Other costs associated with exit activities may include contract termination costs, including costs related to leased facilities to be abandoned or subleased, consultant fees and impairments of long-lived assets. The costs are expensed in accordance with ASC Topic 420 and ASC Topic 360, Property, Plant and Equipment and are included primarily in selling, general and administrative costs in its consolidated statement of income. Additionally, costs directly related to the Company's active restructuring initiatives, including program management costs, accelerated depreciation and costs to transfer product lines among facilities are included within costs of goods sold and selling, general and administrative costs in its consolidated statement of income. Refer to Note 3, Restructuring, for further information and discussion of its restructuring plans.

Valuation of Acquisitions

The Company allocates the amounts it pays for each acquisition to the assets acquired and liabilities assumed based on their estimated fair values at the dates of acquisition, including acquired identifiable intangible assets. The Company bases the estimated fair value of identifiable intangible assets on detailed valuations that use significant assumptions including forecasted cash flows, revenues attributable to existing technology and existing customer attrition. When estimating the significant assumptions to be used in the valuation, the Company includes a consideration of current industry information, market and economic trends, historical results of the acquired business, and other relevant factors. These significant assumptions are forward-looking and could be affected by future economic and market conditions. The Company allocates any excess purchase price over the fair value of the net tangible and intangible assets acquired to goodwill.

Concentration of Credit Risk and Significant Customers

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash equivalents and accounts receivable. In fiscal 2022, 2021 and 2020, the Company's ten largest customers accounted for approximately 45%, 49% and 54% of net revenues, respectively. In fiscal 2022, one Plasma customer, CSL Limited (together with its affiliates, “CSL”) was greater than 10% of both total net revenue and accounts receivable and in total accounted for approximately 12% of net revenues and 14% of accounts receivable. In addition to CSL, two customers also accounted for greater than 10% of the Plasma segment's net revenues and one customer also accounted for greater than 10% of the Blood Center segment's net revenues, but did not exceed 10% of total net revenues, in fiscal 2022.

Certain other markets and industries can expose the Company to concentrations of credit risk. For example, in the Plasma business unit, sales are concentrated with several large customers. As a result, accounts receivable extended to any one of these biopharmaceutical customers can be significant at any point in time. Also, a portion of the Company's trade accounts receivable outside the U.S. include sales to government-owned or supported healthcare systems in several countries, which are subject to payment delays. Payment is dependent upon the financial stability and creditworthiness of those countries’ national economies. The Company has not incurred significant losses on government receivables. The Company continually evaluates all government receivables for potential collection risks associated with the availability of government funding and reimbursement practices. If the financial condition of customers or the countries’ healthcare systems deteriorate such that their ability to make payments is uncertain, allowances may be required in future periods.

Recent Accounting Pronouncements

Standards Implemented

In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Codification (“ASC”) Update No. 2016-13, Financial Instruments - Credit Losses (Topic 326). ASC Update No. 2016-13 is intended to replace the current incurred loss impairment methodology for financial assets measured at amortized cost with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information, including forecasted information, to develop credit loss estimates. The Company adopted ASC Update No. 2016-13 during the first quarter of fiscal 2021. The adoption did not have a material impact on the Company's consolidated financial statements.

In August 2018, the FASB issued ASC Update No. 2018-15, Intangibles, Goodwill and Other - Internal-Use Software (Subtopic 350-40). The new guidance aligns the accounting implementation costs incurred in a cloud computing arrangement that is a service contract with the accounting for internal-use software licenses. The Company adopted ASC Update No. 2018-15 during the first quarter of fiscal 2021. The adoption did not have a material impact on the Company's consolidated financial statements.

In May 2020, the Securities and Exchange Commission (“SEC”) issued a final rule that amends the financial statement requirements for acquisitions and dispositions of businesses. The amendments primarily relate to disclosures required by Rule 3-05 and Article 11 of Regulation S-X and modifies the tests provided in Rule 1-02(w) of Regulation S-X used to determine whether a subsidiary or an acquired or disposed business is significant and modifies the number of years of audited financial statements required for acquisitions with significance levels greater than specified percentages. The Company early adopted these amendments during the fourth quarter of fiscal 2021.

In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Codification (“ASC”) Update No. 2019-12 — Income Taxes (Topic 740). The new guidance improves consistent application of and simplifies the accounting for income taxes by removing certain exceptions to the general principals in Topic 740. The Company adopted ASC Update No. 2019-12 effective April 4, 2021. The adoption did not have a material impact on the Company’s financial position or results of operations.

In August 2020, the FASB issued ASC ASU Update No. 2020-06 Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40). The amendments simplify the complexity associated with applying U.S. GAAP for certain financial instruments with characteristics of liabilities and equity. Update No. 2020-06 is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. The Company early adopted ASC Update No. 2020-06 effective April 4, 2021 using the modified retrospective method, which resulted in a decrease of $61.2 million to additional paid-in capital, a decrease to non-current deferred tax liabilities of $20.0 million, and an increase of $80.3 million to non-current convertible notes, net, on the consolidated balance sheets. Additionally, retained earnings was adjusted to remove amortization expense recognized in prior periods related to the debt discount and the convertible notes no longer have a debt discount that will be amortized, net of taxes. The impact to retained earnings on the consolidated balance sheets as of April 4, 2021 is an increase of $1.0 million.

In July 2021, the FASB issued ASC Update No. 2021-05 — Leases (Topic 842). The new guidance requires a lessor to classify a lease with variable lease payments that do not depend on an index or rate as an operating lease at lease commencement if the lease would have been classified as a sales-type lease or a direct financing lease in accordance with the classification criteria of ASC 842 and the lessor would have otherwise recognized a day-one loss. The Company prospectively adopted ASC Update No. 2021-05 effective in the second quarter of fiscal year 2022. The adoption did not have a material impact on the Company’s financial position or results of operations.

RESTRUCTURING

12 Months Ended

Apr. 02, 2022

Restructuring and Related Activities [Abstract]

RESTRUCTURING

RESTRUCTURINGOn 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.

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 the first quarter of 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 Company now expects to incur aggregate charges between $95 million and $105 million by the end of fiscal 2025. The majority of charges will result in cash outlays, including severance and other employee costs, and will be incurred as the specific actions required to execute these initiatives are identified and approved. During fiscal 2022, 2021 and 2020 the Company incurred $28.7 million, $15.1 million and $11.9 million of restructuring and restructuring related costs under this program, respectively. Total cumulative charges under this program are $55.7 million as of April 2, 2022.

The following table summarizes the activity for restructuring reserves related to the 2020 Program and prior programs for the fiscal years ended April 2, 2022, April 3, 2021 and March 28, 2020, substantially all of which relates to employee severance and other employee costs:


(In thousands)	2020 Program		Prior Programs		Total
Balance at March 31, 2019	$	—	$	7,479	$	7,479
Costs incurred, net of reversals	2,234		1,357		3,591
Payments	(1,098)		(7,177)		(8,275)
Non-cash adjustments	—		(147)		(147)
Balance at March 28, 2020	$	1,136	$	1,512	$	2,648
Costs incurred, net of reversals	1,501		(57)		1,444
Payments	(2,062)		(1,018)		(3,080)

Balance at April 3, 2021	$	575	$	437	$	1,012
Costs incurred, net of reversals	4,202		28		4,230
Payments	(2,317)		(120)		(2,437)
Balance at April 2, 2022	$	2,460	$	345	$	2,805

The following presents the restructuring costs by line item during fiscal 2022, 2021 and 2020 within our accompanying consolidated statements of income and comprehensive income:


(In thousands)	2022		2021		2020
Cost of goods sold	$	2,236	$	390	$	1,082
Research and development	105		142		532
Selling, general and administrative expenses	1,889		912		1,977
Total	$	4,230	$	1,444	$	3,591

As of April 2, 2022, the Company had a restructuring liability of $2.8 million, of which approximately $2.5 million is payable within the next twelve months.

In addition to the restructuring expenses included in the table above, the Company also incurred costs of $24.6 million, $14.2 million and $16.3 million in fiscal 2022, 2021 and 2020, 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 and include program management costs associated with the implementation of outsourcing initiatives and recent accounting standards.

The following presents the restructuring related costs by line item during fiscal 2022, 2021 and 2020 within our accompanying consolidated statements of income and comprehensive income:


(In thousands)	2022		2021		2020
Cost of goods sold	$	17,832	$	9,318	$	2,227
Research and development	714		1,026		354
Selling, general and administrative expenses	6,048		3,873		13,706
Total	$	24,594	$	14,217	$	16,287

The tables below present restructuring and restructuring related costs by reportable segment:


Restructuring costs
(In thousands)	2022		2021		2020
Plasma	$	2,492	$	454	$	544
Blood Center	(18)		201		(5)
Hospital	(93)		322		845
Corporate	1,849		467		2,207
Total	$	4,230	$	1,444	$	3,591

Restructuring related costs
(In thousands)	2022		2021		2020
Plasma	$	7,906	$	1,870	$	820
Blood Center	556		1,599		320
Hospital	379		14		—
Corporate	15,753		10,734		15,147
Total	$	24,594	$	14,217	$	16,287

Total restructuring and restructuring related costs	$	28,824	$	15,661	$	19,878

ACQUISITIONS

12 Months Ended

Apr. 02, 2022

Business Combinations [Abstract]

Acquisitions

ACQUISITIONS

Cardiva Medical, Inc.

On January 17, 2021, the Company entered into an Agreement and Plan of Merger with Cardiva Medical, Inc. (“Cardiva”), an industry-leading manufacturer of vascular closure systems based in Santa Clara, California. In connection with this acquisition, which closed on March 1, 2021, the Company acquired 100% of the issued and outstanding shares of capital stock of Cardiva for total consideration of $489.8 million, which consisted of upfront payments in the aggregate of $465.5 million ($418.2 million net of cash acquired) and the fair value of contingent consideration of $24.3 million. The contingent consideration, which could total a maximum of $35.0 million is payable over the next two years based on sales growth. The Company financed the acquisition through a combination of cash, borrowings under its revolving credit facility and an additional $150.0 million term loan under its existing credit facility.

Cardiva’s portfolio includes two catheter-based vascular access site closure devices. The VASCADE® vascular closure system is designed for “small-bore” femoral arterial and venous closure, generally used in interventional cardiology and peripheral vascular procedures. The VASCADE MVP® vascular closure system is designed for “mid-bore” multi-access femoral venous closure, generally used in electrophysiology procedures, and is the only U.S. Food and Drug Administration (“FDA”) approved closure device for use following cardiac ablation procedures requiring two or more access sites within the same vessel. The addition of the VASCADE portfolio to the Hospital business unit includes products with demonstrated benefits and enhances penetration into the large and growing interventional cardiology and electrophysiology markets.

Purchase Price Allocation

The Company accounted for the acquisition of Cardiva as a business combination, and in accordance with FASB ASC Topic 805, Business Combinations (Topic 805), recorded the assets acquired and liabilities assumed at their respective fair values as of the acquisition date.

The following amounts represent the fair value of the identifiable assets acquired and liabilities assumed for Cardiva:


(In thousands)	March 1, 2021
Accounts receivable	$	7,304
Inventories	18,765
Prepaid expenses and other current assets	850
Property, plant and equipment	1,186
Intangible assets	250,560
Goodwill	253,707
Other long-term assets	1,868
Total assets acquired	$	534,240
Accounts payable	3,292
Accrued payroll and related costs	58,211
Other liabilities	1,903
Deferred tax liability	26,793
Other long-term liabilities	1,772
Total liabilities assumed	$	91,971
Net assets acquired	$	442,269

The Company determined the identifiable intangible assets were completed technology, customer relationships, trademarks and in-process research and development (“IPR&D”). The fair values of intangible assets were based on valuation techniques with estimates and assumptions developed by the Company. Completed technology and IPR&D were valued using the excess earnings method. Customer relationships were valued using the distributor method. Trademarks were valued using the relief from royalty method. The cash flows used in the valuation of the intangible assets were based on estimates used to price the transaction. In developing the discount rates applied to the cash flow projections, the discount rates were benchmarked with reference to the implied rate of return from the transaction model and the weighted average cost of capital and then adjusted to reflect the relative risk of the asset.

The excess of the purchase price over the tangible assets, identifiable intangible assets and assumed liabilities was recorded as goodwill. As a result of the acquisition of Cardiva, the Company recognized goodwill of $253.7 million, which is attributable to the revenue and cash flow projections associated with completed technologies and the development of future technology that does not exist in the current IPR&D pipeline. The goodwill is not deductible for tax purposes and relates entirely to the Hospital reportable segment.

Intangible assets acquired consist of the following:


(In thousands)	Amount		Weighted-Average Amortization Period	Risk-Adjusted Discount Rates used in Purchase Price Allocation
Completed technology	$	213,290	13 years	13.5	%
Customer relationships	18,166		12 years	13.0	%
Trademarks	5,437		13 years	13.5	%
IPR&D	13,667		Indefinite	15.0	%
Total	$	250,560

The Company recorded a long-term deferred tax liability, net, of $26.8 million primarily related to acquired intangible assets which cannot be deducted for tax purposes, partially offset by deferred tax assets primarily related to net operating losses acquired.

Acquisition-Related Costs

The amount of acquisition-related costs incurred associated with the acquisition was $9.6 million for the fiscal year ending April 3, 2021. The Company incurred acquisition costs related to legal and other professional fees in the amount of $6.6 million and an additional $3.0 million of debt financing costs and lender fees which were recognized in selling, general and administrative and as interest expense on the consolidated statements of income, respectively.

Unaudited Pro Forma Financial Information

Cardiva contributed revenues of $7.7 million to net revenues and losses of $7.6 million to net income for the period post acquisition through April 3, 2021.

The unaudited estimated pro forma results presented below include the effects of the acquisition of Cardiva as if it was consummated on March 31, 2019. In fiscal 2021, the Company incurred nonrecurring charges attributed to the acquisition of Cardiva, which are presented in the consolidated statements of income for this period. These charges include acquisition-related costs, retention bonuses and severance payments, adjusted for the related tax effects. These nonrecurring charges are reflected as adjustments to the pro forma earnings presented below for fiscal 2021 and fiscal 2020.

Additionally, these pro forma amounts have been calculated, net of tax, after adjusting the results of Cardiva to reflect the additional costs associated with fair value adjustments relating to inventories, leases and intangible assets as if the acquisition had occurred on March 31, 2019 and adjusting interest amounts related to long-term debt assumptions. There was no significant impact to the pro forma amounts after applying the Company’s accounting policies.

The supplemental pro forma information presented below is for informational purposes only and should be read in conjunction with our historical financial statements. The pro forma results do not include any anticipated synergies or other expected benefits of the acquisition. Accordingly, the unaudited estimated pro forma financial information below is not necessarily indicative of what the actual results of operations of the combined companies would have been had the acquisition of Cardiva occurred as of March 31, 2019, nor are they indicative of future results of operations. The pro forma assumptions and adjustments are reasonable and appropriate under the circumstances and are factually supported based on information currently available.


(In thousands) (Unaudited)	2021		2020
Net revenues	$	916,601	$	1,024,235
Net income	$	53,884	$	19,191

HAS Intellectual Property

In January 2021, the Company entered into an agreement to acquire certain intellectual property owned by HemoAssay Science and Technology (Suzhou) Co. Ltd., a China-incorporated company, and its affiliates (collectively, “HemoAssay”) underlying their HAS viscoelastic diagnostic devices, related assays and disposables. The Company previously entered into exclusive manufacturing and distribution agreements with HemoAssay pursuant to which it has exclusive rights to commercialize HemoAssay’s HAS devices in China. In connection with the transaction, the Company has agreed to pay up to $15.0 million to HemoAssay in contingent consideration based on certain developmental and manufacturing based milestones. In fiscal 2022, the Company made $2.5 million of milestone payments which were recorded within intangible assets on the consolidated balance sheets. These products augment the Company’s portfolio of hemostasis analyzers within the Hospital business unit.

enicor GmbH

On April 1, 2020, the Company acquired all of the outstanding equity of enicor GmbH (“enicor”), the manufacturer of ClotPro®, a new generation whole blood coagulation testing system that is currently available in select European and Asia Pacific markets, for total consideration of $20.5 million, which consisted of upfront payments of $16.6 million and the fair value of contingent consideration of $3.9 million. The contingent consideration, which could total a maximum of $4.5 million, consists of payments related to the achievement of certain revenue and regulatory milestones. The acquisition of this viscoelastic diagnostic device augments the Company's portfolio of hemostasis analyzers within the Hospital business unit.

Purchase Price Allocation

The Company accounted for the acquisition of enicor as a business combination, and in accordance with FASB ASC Topic 805, Business Combinations (Topic 805), recorded the assets acquired and liabilities assumed at their respective fair values as of the acquisition date.

The following amounts represent the fair value of the identifiable assets acquired and liabilities assumed for enicor completed during fiscal 2021:


(In thousands)	April 1, 2020
Inventory	$	634
Other current assets	685
Property, plant and equipment	289
Intangible assets	14,090
Goodwill	8,153
Total assets acquired	$	23,851
Other current liabilities	289
Deferred tax liability	3,036
Total liabilities assumed	$	3,325
Net assets acquired	$	20,526

The Company determined the identifiable intangible assets were completed technology, customer relationships and a trademark. The fair value of the intangible assets was estimated using the income approach, and the cash flow projections were discounted using a rate of 20%. The cash flows were based on estimates used to price the transaction, and the discount rates applied were benchmarked with reference to the implied rate of return from the transaction model and the weighted average cost of capital. The benefits of adding a viscoelastic diagnostic device to the Company’s portfolio of hemostasis analyzers within the Hospital business unit contributed to an acquisition price in excess of the fair value of net assets acquired for enicor, which resulted in the establishment of goodwill. In addition, the benefits of lower cost manufacturing and complementary sales channels also contributed to the establishment of goodwill for this acquisition. None of the goodwill is expected to be deductible for income tax purposes.

Intangible assets acquired consist of the following:


(In thousands)	Amount		Weighted-Average Amortization Period	Risk-Adjusted Discount Rates used in Purchase Price Allocation
Completed technology	$	13,441	10 Years	20	%
Customer relationships	347		10 Years	20	%
Trademark	302		10 Years	20	%
Total	$	14,090

Acquisition-Related Costs

During fiscal 2021, the Company incurred $0.2 million of acquisition-related costs associated with the acquisition.

Unaudited Pro Forma Financial Information

enicor had an immaterial impact to the Company's net revenues and net income for fiscal 2021. The unaudited estimated pro forma impact of the results of the acquisition of enicor as if it was consummated on April 1, 2019 are immaterial.

DIVESTITURE	12 Months Ended
DIVESTITURE	Apr. 02, 2022
Discontinued Operations and Disposal Groups [Abstract]
DIVESTITURE	DIVESTITURES Fajardo, Puerto Rico Manufacturing Operations On June 29, 2020, the Company sold its Fajardo, Puerto Rico, manufacturing operations to GVS, S.p.A (“GVS”), a leading provider of advanced filtration solutions for critical applications for $15.1 million ($7.8 million, net of cash transferred). Under the terms of the agreement, Haemonetics retained all intellectual property rights to its proprietary blood filters currently manufactured at its Fajardo facility and GVS acquired certain assets consisting primarily of property, plant and equipment, inventory and cash and has assumed certain related liabilities. In connection with this transaction, the Company and GVS also entered into a long-term supply and development agreement that, among other things, grants GVS exclusive rights to manufacture and supply the blood filters currently produced at the Fajardo facility for Haemonetics. As a result of this transaction, Haemonetics recognized a pre-tax impairment charge in its Blood Center business unit of $1.0 million in the first quarter of fiscal 2021 and an incremental loss of $0.4 million based on closing adjustments during the third quarter of fiscal 2021, as the carrying value of the assets and liabilities in the asset transfer exceeded the net of the $15.1 million of cash proceeds and an additional contingent liability of $1.5 million. The disposal group consisted of $3.3 million of inventory, $7.2 million of fixed assets, $3.2 million of other liabilities, and $0.4 million of goodwill allocated based on fair value to the business. U.S. Blood Donor Management Software On July 1, 2020, the Company sold certain U.S. blood donor management software solution assets within its Blood Center business unit to the GPI Group (“GPI”) for an upfront cash payment of $14.0 million ($13.6 million, net of working capital adjustments) and up to $14.0 million in additional consideration contingent on the achievement of commercial milestones over the twelve month period immediately following the closing of the transaction. The disposal group consisted of $1.4 million of accounts receivable, $0.9 million of intangible assets, other liabilities of $1.8 million and $1.4 million of goodwill allocated based on fair value to the business. The Company recognized a gain of $13.2 million associated with the transaction in fiscal 2021. In fiscal year 2022, the Company recognized an additional gain of $9.6 million for contingent consideration earned. Inlog Holdings France On September 18, 2020, the Company sold its wholly-owned subsidiary Inlog Holdings France SAS to Abénex Capital (“Abénex”), a private equity firm based in France for $30.5 million ($24.5 million, net of cash transferred). Inlog Holdings France SAS, through its subsidiary In Log SAS, develops and sells blood bank and hospital software solutions used predominantly in France and in several other countries outside of the U.S. The disposal group included $2.2 million of intangible assets, $2.2 million of accounts receivable, $0.3 million of other assets, $3.3 million of liabilities and $3.3 million of goodwill allocated based on the fair value of the business which impacted both the Blood Center and Hospital business units. The Company recognized a gain of $20.0 million associated with the transaction in fiscal 2021. Asset Transfer to CSL On May 21, 2019, the Company transferred to CSL substantially all of its tangible assets held relating to the manufacture of anti-coagulant and saline (together, “Liquids”) at its Union, South Carolina facility (“Union”), which consisted primarily of property, plant and equipment and inventory, and CSL assumed certain related liabilities (the “Asset Transfer”) pursuant to the terms of a settlement, release and asset transfer agreement between the parties dated May 13, 2019. The Asset Transfer excluded all other assets related to Union, including accounts receivable, customer contracts and the Company's U.S. Food and Drug Administration (“FDA”) product approvals for manufacturing Liquids. At closing, Haemonetics received $9.8 million of proceeds for the Asset Transfer and was concurrently released from its obligations to supply Liquids under a 2014 supply agreement with CSL. In connection with the Asset Transfer, CSL and Haemonetics also entered into related transition services, supply and manufacturing services and quality agreements that, among other things, permitted CSL to manufacture Liquids under the Company's FDA product approvals, exclusively for Haemonetics and CSL, until CSL obtains independent product approvals from the FDA to manufacture the Liquids. In connection with the Company's and CSL's entry into the May 13, 2019 agreement for the Asset Transfer, the Company recognized a pre-tax impairment charge of $48.7 million in the first quarter of fiscal 2020, primarily related to the carrying balances of the property, plant and equipment exceeding the consideration received under the terms of the Agreement. The charge did not result in any future cash expenditures. Goodwill associated with the disposal was immaterial.

INCOME TAXES

12 Months Ended

Apr. 02, 2022

Income Tax Disclosure [Abstract]

INCOME TAXES

Domestic and foreign income (loss) before (benefit) provision for income tax is as follows:


(In thousands)	2022		2021		2020
Domestic	$	(5,219)	$	5,526	$	5,344
Foreign	68,848		67,387		81,808
Total	$	63,629	$	72,913	$	87,152

The income tax (benefit) provision from continuing operations contains the following components:


(In thousands)	2022		2021		2020
Current
Federal	$	3,586	$	(289)	$	3,834
State	1,682		1,256		1,054
Foreign	9,940		13,319		12,467
Total current	$	15,208	$	14,286	$	17,355
Deferred
Federal	3,455		(12,906)		(8,257)
State	310		(2,436)		280
Foreign	1,281		(5,500)		1,248
Total deferred	$	5,046	$	(20,842)	$	(6,729)
Total	$	20,254	$	(6,556)	$	10,626

The Company conducts business globally and reports its results of operations in a number of foreign jurisdictions in addition to the United States. The Company's reported tax rate is impacted by the jurisdictional mix of earnings in any given period as the foreign jurisdictions in which it operates have tax rates that differ from the U.S. statutory tax rate.

The Company's subsidiary in Malaysia has been granted a full income tax exemption to manufacture whole blood and apheresis devices that could be in effect for up to ten years, provided certain conditions are satisfied. The income tax exemption was in effect beginning June 1, 2016.

Tax effected, significant temporary differences comprising the net deferred tax liability are as follows:


(In thousands)	April 2, 2022		April 3, 2021
Deferred tax assets:
Depreciation	$	623	$	1,054
Amortization of intangibles	1,243		1,167
Inventory	6,841		5,166

Accruals, reserves and other deferred tax assets	13,020		17,274
Net operating loss carry-forward	30,212		38,827
Stock based compensation	4,422		4,374
Operating lease liabilities	15,777		16,941
Tax credit carry-forward, net	6,452		5,073
Capitalized research expenses	6,733		4,291
Gross deferred tax assets	85,323		94,167
Less valuation allowance	(14,077)		(11,081)
Total deferred tax assets (after valuation allowance)	71,246		83,086
Deferred tax liabilities:
Depreciation	(15,727)		(10,470)
Amortization of goodwill and intangibles	(63,004)		(68,802)
Unremitted earnings	(1,254)		(1,060)
Operating lease assets	(12,877)		(14,722)
Debt discount	—		(19,868)
Other deferred tax liabilities	(2,643)		(5,980)
Total deferred tax liabilities	(95,505)		(120,902)
Net deferred tax liabilities	$	(24,259)	$	(37,816)

The decrease in the worldwide net deferred tax liability is primarily due to the adoption of ASU 2020-06, for which the reduction in the deferred tax liability related to convertible debt was recorded through equity. Other changes in the worldwide net deferred tax liability were the result of current year operating results.

The valuation allowance increase of $3.0 million during fiscal 2022 is primarily due to additional valuation allowances recorded on US state net operating loss and tax credit carryforwards. The Company has assessed, on a jurisdictional basis, the available means of recovering deferred tax assets, including the ability to carry-back net operating losses, the existence of reversing temporary differences, the availability of tax planning strategies and available sources of future taxable income. It has also considered the ability to implement certain strategies that would, if necessary, be implemented to accelerate taxable income and use expiring deferred tax assets. The Company has concluded future taxable income can be considered a source of income to realize a benefit for deferred tax assets in certain jurisdictions. In addition, the Company has concluded that it cannot rely on future taxable income in certain risk bearing principal jurisdictions due to uncertainty surrounding future taxable income including the effects of Covid-19, the announcement of CSL intent not to renew its supply agreement and the general uncertainty surrounding the global economy. The Company believes it is able to support the deferred tax assets recognized as of the end of the year based on all of the available evidence. The worldwide net deferred tax liability as of April 2, 2022 includes deferred tax liabilities related to amortizable tax basis in goodwill and other indefinite lived assets, which can only be used as a source of income to benefit other indefinite lived assets.

As of April 2, 2022, the Company maintains a valuation allowance against certain U.S. state deferred tax assets that are not more-likely-than-not realizable and maintains a full valuation allowance against the net deferred tax assets of certain foreign subsidiaries.

In connection with the March 2021 acquisition of Cardiva, the Company acquired federal and state net operating loss carryforwards of $150.9 million and $93.3 million, respectively. The Company also acquired federal and state tax research credit carryforwards of $0.2 million and $0.4 million, respectively. These net operating loss and tax credit carryforwards may become subject to an annual limitation in the event of certain cumulative changes in the ownership interest of significant shareholders over a three-year period in excess of 50 percent as defined under Section 382 and 383 of the U.S. Internal Revenue Code of 1986, respectively, as well as similar state provisions. The amount of the annual limitation is determined based on the value of the Company immediately prior to the ownership change. The Company conducted a Section 382 study covering the period of inception (July 2002) through March 1, 2021. The study concluded that ownership changes occurred during that period which limit the amount of the Company’s net operating losses and tax credit carryforwards that can be utilized before expiring. The carryforwards disclosed represent the amount of attributes that can be utilized based on the results of the study.

As of April 2, 2022, the Company has U.S. federal net operating loss carryforwards of $99.2 million of which $8.2 million will begin to expire in fiscal 2024 and $91.0 million can be carried forward indefinitely. The Company has U.S. state net operating losses of $107.2 million of which $85.7 million will begin to expire in fiscal 2023 and $21.5 million can be carried forward indefinitely. The Company has federal and state tax credits of $1.3 million and $6.2 million, respectively, which will begin to expire in fiscal 2029 and fiscal 2025, respectively.

As of April 2, 2022, the Company has foreign net operating losses of approximately $12.1 million that are available to reduce future income of which $6.9 million will begin to expire in fiscal 2034 and $5.2 million can be carried forward indefinitely.

As of April 2, 2022, substantially all of the unremitted earnings of the Company have been taxed in the U.S. The Company has provided $1.3 million of U.S. income and foreign withholding taxes on approximately $150.5 million of unremitted earnings that are not indefinitely reinvested. The Company has not provided U.S. deferred income taxes or foreign withholding taxes on unremitted earnings of foreign subsidiaries of approximately $125.2 million as such amounts are considered to be indefinitely reinvested in the business. The accumulated earnings in the foreign subsidiaries are primarily utilized to fund working capital requirements as its subsidiaries continue to expand their operations, to service existing debt obligations and to fund future foreign acquisitions. The Company does not believe it is practicable to estimate the amount of income taxes payable on the earnings that are indefinitely reinvested in foreign operations, however a significant portion of the unremitted earnings could be remitted without a future tax cost.

The income tax (benefit) provision from continuing operations differs from the tax provision (benefit) computed at the U.S. federal statutory income tax rate due to the following:


(In thousands)	2022				2021				2020
Tax at federal statutory rate	$	13,362	21.0	%	$	15,312	21.0	%	$	18,302	21.0	%

Difference between U.S. and foreign tax	(3,799)		(6.0)	%	(7,049)		(9.7)	%	(6,688)		(7.7)	%
State income taxes net of federal benefit	1,384		2.2	%	(924)		(1.3)	%	(342)		(0.4)	%
Change in uncertain tax positions	(777)		(1.2)	%	1,172		1.6	%	785		0.9	%

Global intangible low taxed income	3,608		5.7	%	(758)		(1.0)	%	5,431		6.2	%
Unremitted earnings	194		0.3	%	257		0.4	%	40		—	%
Deferred statutory rate changes	40		0.1	%	(243)		(0.3)	%	1,091		1.3	%

Non-deductible executive compensation	1,080		1.7	%	2,238		3.1	%	2,423		2.8	%
Non-deductible expenses	741		1.2	%	2,038		2.8	%	1,050		1.2	%
Stock compensation benefits	2,070		3.3	%	(5,504)		(7.5)	%	(12,133)		(13.9)	%
Research credits	(1,496)		(2.4)	%	(1,230)		(1.7)	%	(2,085)		(2.4)	%
Contingent consideration	1,880		3.0	%	—		—	%	—		—	%
Intercompany sale of intellectual property	—		—	%	(7,550)		(10.4)	%	—		—	%


Valuation allowance	254		0.2	%	(3,144)		(4.4)	%	2,939		3.4	%
Other, net	1,713		2.7	%	(1,171)		(1.6)	%	(187)		(0.2)	%
Income tax (benefit) provision	$	20,254	31.8	%	$	(6,556)	(9.0)	%	$	10,626	12.2	%

The Company recorded an income tax expense of $20.3 million, representing an effective tax rate of 31.8%. The effective tax rate is higher than the U.S. statutory rate of 21.0%, primarily due to the impact of GILTI, non-deductible executive

compensation, contingent consideration from the Cardiva acquisition, and state taxes partially offset by the jurisdictional mix of earnings, research credits generated, and reductions to uncertain tax positions. The Company has recorded an immaterial tax expense related to unremitted foreign earnings that are not considered permanently reinvested.

Unrecognized Tax Benefits

Unrecognized tax benefits represent uncertain tax positions for which reserves have been established. As of April 2, 2022, the Company had $3.9 million of unrecognized tax benefits, of which $3.1 million would impact the effective tax rate, if recognized. As of April 3, 2021, the Company had $6.1 million of unrecognized tax benefits, of which $5.3 million would impact the effective tax rate, if recognized. At March 28, 2020, the Company had $4.6 million of unrecognized tax benefits, of which $4.0 million would impact the effective tax rate, if recognized.

The following table summarizes the activity related to its gross unrecognized tax benefits for the fiscal years ended April 2, 2022, April 3, 2021 and March 28, 2020:


(In thousands)	April 2, 2022		April 3, 2021		March 28, 2020
Beginning Balance	$	6,107	$	4,620	$	4,657
Additions for tax positions of current year	219		335		180
Additions for tax positions of prior years	—		1,194		880
Reductions of tax positions	(808)		(42)		(539)
Settlements of tax positions	(1,579)		—		(558)
Closure of statute of limitations	—		—		—
Ending Balance	$	3,939	$	6,107	$	4,620

As of April 2, 2022, the Company anticipates that the liability for unrecognized tax benefits for uncertain tax positions could change by up to $0.2 million in the next twelve months, as a result of closure of various statutes of limitations.

The Company's historical practice has been and continues to be to recognize interest and penalties related to federal, state and foreign income tax matters in income tax expense. Approximately $0.1 million and $1.4 million of gross interest and penalties were accrued at April 2, 2022 and April 3, 2021, respectively, and are not included in the amounts above. Additionally, $0.1 million, $0.9 million and $0.3 million of accrued interest and penalties was included in income tax provision (benefit) for the years ended April 2, 2022, April 3, 2021and March 28, 2020, respectively.

The Company conducts business globally and, as a result, files federal, state and foreign income tax returns in multiple jurisdictions. In the normal course of business, it is subject to examination by taxing authorities throughout the world. With a few exceptions, the Company is no longer subject to U.S. federal, state, or local income tax examinations for years before fiscal 2018 and foreign income tax examinations for years before fiscal 2017. To the extent that the Company has tax attribute carry-forwards, the tax years in which the attribute was generated may still be adjusted upon examination by the Internal Revenue Service, state, or foreign tax authorities to the extent utilized in a future period.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

EARNINGS PER SHARE

12 Months Ended

Apr. 02, 2022

Earnings Per Share [Abstract]

EARNINGS PER SHARE

The following table provides a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations.


(In thousands, except per share amounts)	2022		2021		2020
Basic EPS
Net income	$	43,375	$	79,469	$	76,526
Weighted average shares	51,047		50,688		50,692
Basic income per share	$	0.85	$	1.57	$	1.51
Diluted EPS
Net income	$	43,375	$	79,469	$	76,526
Basic weighted average shares	51,047		50,688		50,692
Net effect of common stock equivalents	306		604		1,123
Diluted weighted average shares	51,353		51,292		51,815
Diluted income per share	$	0.84	$	1.55	$	1.48

Basic earnings per share is calculated using the Company's weighted-average outstanding common shares. Diluted earnings per share is calculated using its weighted-average outstanding common shares including the dilutive effect of stock awards as determined under the treasury stock method and the convertible senior notes as determined under the net share settlement method. From the time of the issuance of the convertible senior notes, the average market price of the Company's common shares has been less than the initial conversion price, and consequently no shares have been included in diluted earnings per share for the conversion value of the convertible senior notes. For fiscal 2022, 2021 and 2020, weighted average shares outstanding, assuming dilution, excludes the impact of 0.9 million, 0.5 million and 0.2 million anti-dilutive shares, respectively.

Share Repurchase Plan

In May 2019, the Company's Board of Directors authorized the repurchase of up to $500 million of Haemonetics common shares over the two year period ending May 2021. During fiscal 2022, the Company did not make any additional repurchases under this program, which expired in May 2021.

REVENUE	12 Months Ended
REVENUE	Apr. 02, 2022
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE The Company's revenue recognition policy is to recognize revenues from product sales, software and services in accordance with ASC Topic 606, Revenue from Contracts with Customers. Revenue is recognized when obligations under the terms of a contract with a customer are satisfied; this occurs with the transfer of control of the Company’s goods or services. The Company considers revenue to be earned when all of the following criteria are met: it has a contract with a customer that creates enforceable rights and obligations; promised products or services are identified; the transaction price, or the consideration it expects to receive for transferring goods or providing services, is determinable and it has transferred control of the promised items to the customer. A promise in a contract to transfer a distinct good or service to the customer is identified as a performance obligation. A contract’s transaction price is allocated to each performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. Some of the Company’s contracts have multiple performance obligations. For contracts with multiple performance obligations, the Company allocates the contract’s transaction price to each performance obligation based on the estimated standalone selling prices of the good or service in the contract. For goods or services for which observable standalone selling prices are not available, the Company uses an expected cost plus a margin approach to estimate the standalone selling price of each performance obligation. As of April 2, 2022, the Company had $16.9 million of transaction price allocated to remaining performance obligations related to executed contracts with an original duration of one year or more. The Company expects to recognize approximately 73% of this amount as revenue within the next twelve months and the remaining balance thereafter. Contract Balances The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables (contract assets), and customer advances and deposits (contract liabilities) on the consolidated balance sheets. The difference in timing between billing and revenue recognition primarily occurs in software licensing arrangements, resulting in contract assets and contract liabilities. As of April 2, 2022 and April 3, 2021, the Company had contract assets of $5.5 million and $4.8 million, respectively. The change is primarily due to the delay in billings compared to the revenue recognized. Contract assets are classified as other current assets and other long-term assets on the consolidated balance sheet. As of April 2, 2022 and April 3, 2021, the Company had contract liabilities of $26.8 million and $20.9 million, respectively. During fiscal 2022, the Company recognized $19.0 million of revenue that was included in the above April 3, 2021 contract liability balance. Contract liabilities are classified as other current liabilities and other long-term liabilities on the consolidated balance sheet.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/topic&trid=49130388

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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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+ Details

INVENTORIES

12 Months Ended

Apr. 02, 2022

Inventory Disclosure [Abstract]

INVENTORIES

Inventories are stated at the lower of cost or net realizable value and include the cost of material, labor and manufacturing overhead. Cost is determined with the first-in, first-out method.


(In thousands)	April 2, 2022		April 3, 2021
Raw materials	$	88,886	$	74,910
Work-in-process	17,187		23,111
Finished goods	186,954		224,593
Total inventories	$	293,027	$	322,614

PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Apr. 02, 2022

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

Property and equipment consisted of the following:


(In thousands)	April 2, 2022		April 3, 2021
Land	$	5,165	$	5,116
Building and building improvements	104,546		107,322
Plant equipment and machinery	233,564		216,751
Office equipment and information technology	120,119		115,810
Haemonetics equipment	405,753		372,259
Total	869,147		817,258
Less: accumulated depreciation and amortization	(610,665)		(599,699)
Property, plant and equipment, net	$	258,482	$	217,559

Depreciation expense was $44.4 million, $43.1 million and $76.6 million in fiscal 2022, 2021 and 2020, respectively.

During fiscal 2022, the Company incurred $2.8 million of accelerated depreciation costs relating to disposables manufacturing equipment that is no longer in use as a result of the CSL contract expiration discussed below. The Company also incurred an impairment of property, plant and equipment of $5.2 million in connection with the 2020 Program. Refer to Note 3 - Restructuring for details on the 2020 Program. These impairment charges were included in cost of goods sold on the consolidated statements of income and impacted the Plasma reporting segment as of April 2, 2022.

In early April 2021, the Company was informed by CSL of its intent not to renew its supply agreement for the use of PCS2 plasma collection system devices and the purchase of disposable plasmapheresis kits in the U.S. following the expiration of the current term in June 2022. As a result, the Company incurred a one-time impairment in fiscal 2021 of $20.9 million related to disposables manufacturing equipment previously recorded in construction in process which will not be placed into service as a result of the supply agreement expiration. The impairment charge was included in cost of goods sold on the consolidated statements of income and impacted the Plasma reporting segment as of April 3, 2021.

During fiscal 2020, the Company recognized a pre-tax impairment charge of $48.7 million relating to the asset transfer between the Company and CSL on May 13, 2019. This impairment is related to the carrying balances of the property, plant and

equipment exceeding the consideration received under the terms of the agreement. The charge will not result in any future cash expenditures. For additional information regarding the transaction, refer to Note 5 - Divestitures. The Company also impaired an additional $1.9 million of property, plant and equipment as a result of the Company's corporate headquarter move and a review of underperforming assets, resulting in total impairment charges of $50.6 million during fiscal 2020. Substantially all of these impairments were included within selling, general and administrative costs on the consolidated statements of income and primarily impacted the Plasma reporting segment.

During fiscal 2020, the Company sold $7.8 million of real estate and other assets associated with the Braintree corporate headquarters for net cash proceeds of $15.0 million and non-cash consideration of $0.9 million which resulted in a net gain of $8.1 million. Additionally, in connection with the lease for office space in Boston, MA which serves as the new corporate headquarters, the Company received a lease incentive in the form of property, plant and equipment totaling $5.6 million which was recorded during fiscal 2020.

During fiscal 2020, the Company incurred $18.1 million of accelerated depreciation expense related to the change in estimate of useful lives of PCS®2 devices included within Haemonetics Equipment, as these will be replaced by NexSys PCS® devices.

GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Apr. 02, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

The changes in the carrying amount of goodwill by operating segment for fiscal 2022 and 2021 are as follows:


(In thousands)	Plasma		Blood Center		Hospital		Total
Carrying amount as of March 28, 2020	$	28,979	$	36,632	$	145,041	$	210,652

Divestitures	—		(2,181)		(2,853)		(5,034)
Acquisitions	—		—		259,788		259,788
Currency translation	64		77		897		1,038
Carrying amount as of April 3, 2021	29,043		34,528		402,873		466,444


Purchase accounting adjustments	—		—		2,070		2,070
Currency translation	—		(362)		(865)		(1,227)
Carrying amount as of April 2, 2022	$	29,043	$	34,166	$	404,078	$	467,287

The results of the Company's goodwill impairment test performed in the fourth quarter of fiscal 2022, 2021 and 2020 indicated that the estimated fair value of all reporting units exceeded their respective carrying values. There were no reporting units at risk of impairment as of the fiscal 2022, 2021 and 2020 annual test dates.

The gross carrying amount of intangible assets and the related accumulated amortization as of April 2, 2022 and April 3, 2021 is as follows:


(In thousands)	Gross Carrying Amount		Accumulated Amortization		Net

As of April 2, 2022
Amortizable:
Patents	$	14,777	$	9,821	$	4,956
Capitalized software	76,360		52,249		24,111
Other developed technology	362,783		124,799		237,984
Customer contracts and related relationships	204,166		185,150		19,016
Trade names	9,517		4,533		4,984
Total	$	667,603	$	376,552	$	291,051
Non-amortizable:
In-process software development	$	2,648
In-process research and development	13,667
In-process patents	2,895
Total	$	19,210


(In thousands)	Gross Carrying Amount		Accumulated Amortization		Net

As of April 3, 2021
Amortizable:
Patents	$	10,482	$	8,897	$	1,585
Capitalized software	71,575		43,858		27,717
Other developed technology	381,166		95,518		285,648
Customer contracts and related relationships	204,701		168,446		36,255
Trade names	9,516		3,921		5,595
Total	$	677,440	$	320,640	$	356,800
Non-amortizable:
In-process software development	$	4,007
In-process patents	4,676
Total	$	8,683

Refer to Note 4, Acquisitions, for additional information regarding acquisitions.

Intangible assets include the value assigned to license rights and other 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 2022, 2021, and 2020 was $56.6 million, $41.2 million and $34.2 million, respectively. Intangible asset impairments of $0.6 million were included in operating expenses on the consolidated statements of income during fiscal 2022. There were no intangible asset impairments during fiscal 2021 or 2020.

Future annual amortization expense on intangible assets is estimated to be as follows:


(In thousands)
Fiscal 2023	$	39,124
Fiscal 2024	$	34,691
Fiscal 2025	$	27,215
Fiscal 2026	$	21,787
Fiscal 2027	$	19,911

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 $3.4 million and $4.2 million in software development costs for ongoing initiatives during fiscal 2022 and 2021, respectively. At April 2, 2022 and April 3, 2021, the Company had a total of $79.0 million and $75.6 million of software costs capitalized, of which $5.0 million and $4.0 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 $8.4 million, $7.8 million, and $8.2 million for the fiscal years ended April 2, 2022 , April 3, 2021 and March 28, 2020, respectively.

LEASES

12 Months Ended

Apr. 02, 2022

Leases [Abstract]

Leases

LEASES

Lessee Activity

The Company has operating leases for office space, land, warehouse and manufacturing space, R&D laboratories, vehicles and certain equipment. Finance leases are not significant. Leases with an initial term of 12 months or less are generally not recorded on the balance sheet and expense for these leases is recognized on a straight-line basis over the lease term. For leases executed in fiscal 2020 and later, the Company accounts for the lease components and the non-lease components as a single lease component. The Company's leases have remaining lease terms of 1 year to approximately 30 years, some of which may include options to extend the leases for up to 10 years and some include options to terminate early. These options have been included in the determination of the lease liability when it is reasonably certain that the option will be exercised. The Company does not have any leases that include residual value guarantees.

The Company determines whether an arrangement is or contains a lease based on the unique facts and circumstances present at the inception of an arrangement. Operating lease liabilities and their corresponding right-of-use assets are recorded based on the present value of lease payments over the expected lease term. The interest rate implicit in lease contracts is typically not readily determinable. As such, the Company utilizes the appropriate incremental borrowing rate, which is the rate incurred to borrow on a collateralized basis over a similar term at an amount equal to the lease payments in a similar economic environment. For operating leases that commenced prior to the Company's adoption of ASC 842, the Company measured the lease liabilities and right-of-use assets using the incremental borrowing rate as of March 31, 2019. Certain adjustments to the right-of-use asset may be required for items such as initial direct costs paid or incentives received.

During fiscal 2021, the Company entered into a lease for manufacturing space in Clinton, PA. The Company's current manufacturing operations in Leetsdale, PA will be relocated to the Clinton, PA facility. The lease term associated with the new manufacturing facility is 15 years and 7 months and includes two five year renewal options followed by one four year renewal option. During fiscal 2021, the Company recorded a right-of-use asset of $11.3 million and corresponding liabilities of $15.4 million upon commencement of the lease term in May 2020. In addition, the Company recorded a $4.1 million lease incentive receivable associated with this lease agreement which was received during fiscal 2021.

The following table presents supplemental balance sheet information related to the Company's operating leases:


(In thousands)	April 2, 2022		April 3, 2021
Assets
Operating lease right-of-use assets in Other long-term assets	$	52,749	$	59,856
Liabilities
Operating lease liabilities in Other current liabilities	$	7,196	$	7,708
Operating lease liabilities in Other long-term liabilities	$	55,704	$	62,960

The following table presents the weighted average remaining lease term and discount rate information related to our operating leases:


	April 2, 2022		April 3, 2021
Weighted average remaining lease term	10.0 years		10.7 years
Weighted average discount rate	4.58	%	4.59	%

The Company's operating lease costs were $11.0 million, $11.7 million and $8.3 million during fiscal 2022, 2021 and 2020, respectively.

The following table presents supplemental cash flow information related to our operating leases:


(In thousands)	April 2, 2022		April 3, 2021		March 28, 2020
Cash paid for amounts included in the measurement of operating lease liabilities
Operating cash flows used for operating leases	$	11,014	$	10,456	$	6,780
Right of use assets obtained in exchange for new operating lease liabilities	$	587	$	29,595	$	37,330

The following table presents the maturities of our operating lease liabilities as of April 2, 2022:


Fiscal Year (In thousands)	Operating Leases
2023	$	9,996
2024	7,982
2025	7,374
2026	6,995
2027	7,353
Thereafter	39,789
Total future minimum operating lease payments	79,489
Less: imputed interest	(16,589)
Present value of operating lease liabilities	$	62,900

Lessor Activity

Assets on the Company's balance sheet classified as Haemonetics equipment primarily consists of medical devices installed at customer sites but owned by Haemonetics. These devices are leased to customers under contractual arrangements that typically include an operating or sales-type lease as well as the purchase and consumption of a certain level of disposable products. Sales-type leases are not significant. Contract terms vary by customer and may include options to terminate the contract or options to extend the contract. Where devices are provided under operating lease arrangements, a substantial majority of the entire lease revenue is variable and subject to subsequent non-lease component (disposable products) sales. The allocation of revenue between the lease and non-lease components is based on stand-alone selling prices. Operating lease revenue represents less than 3 percent of the Company's total net sales.

NOTES PAYABLE AND LONG-TERM DEBT

12 Months Ended

Apr. 02, 2022

Debt Disclosure [Abstract]

NOTES PAYABLE AND LONG-TERM DEBT

Notes payable and long-term debt consisted of the following:


(In thousands)	April 2, 2022		April 3, 2021
Term loan, net of financing fees	$	284,052	$	301,019
Convertible notes	489,462		406,461
Other borrowings	75		128
Less current portion	(214,148)		(17,016)
Long-term debt	$	559,441	$	690,592

Convertible Senior Notes

In March 2021, the Company issued $500.0 million aggregate principal amount of 0% convertible senior notes due 2026 (the “2026 Notes”). The 2026 Notes are governed by the terms of the Indenture between the Company and U.S. Bank National Association, as trustee (the “Indenture”). The total net proceeds from the sale of the 2026 Notes, after deducting the initial purchasers’ discounts and debt issuance costs, were approximately $486.7 million. The 2026 Notes will mature on March 1, 2026, unless earlier converted, redeemed or repurchased.

Holders may convert their notes at their option at any time prior to the close of business on the business day immediately preceding September 1, 2025 only under the following circumstances:

•During any calendar quarter (and only during such calendar quarter) beginning after June 30, 2021, if, the last reported sale price per share of the Company’s common stock exceeds 130% of the applicable conversion price on each applicable trading day for at least 20 trading days (whether or not consecutive) in the period of the 30 consecutive trading day period ending on, and including, the last trading day of the immediately preceding calendar quarter;

•During the five business day period after any five consecutive trading day period in which, for each day of that period, the trading price per $1,000 principal amount of the 2026 Notes for such trading day was less than 98% of the product of the last reported sale price of the Company’s common stock and the applicable conversion rate on such trading day;

•The Company issues to common stockholders any rights, options, or warrants, entitling them, for a period of not more than 60 days, to purchase shares of common stock at a price per share less than the average closing sale price of 10 consecutive trading days, or the Company’s election to make a distribution to common stockholders exceeding 10% of the previous day’s closing sale price;

•Upon the occurrence of specified corporate events, as set forth in the indenture governing the 2026 Notes; or

•Prior to the related redemption date if the Company calls the 2026 Notes for redemption

On or after September 1, 2025, until the close of business on the scheduled trading day immediately preceding the maturity date, holders may convert all or a portion of their 2026 Notes, in multiples of $1,000 principal amount, at any time, regardless of the foregoing circumstances. The conversion rate for the 2026 Notes is 5.7033 shares of common stock per $1,000 principal amount of notes (which is equal to an initial conversion price of approximately $175.34 per share of the Company’s common stock), subject to adjustment as set forth in the Indenture. Upon conversion, the Company will pay cash up to the aggregate principal amount of the notes to be converted and pay or deliver, as the case may be, cash, common stock or a combination of cash and common stock, at the Company’s election, in respect of the remainder, if any, of the Company’s conversion obligation in excess of the aggregate principal amount of the notes being converted. If a make-whole adjustment event, as described in the Indenture, occurs and a holder elects to convert its 2026 Notes in connection with such make-whole adjustment event, such holder may be entitled to an increase in the conversion rate as described in the Indenture.

During fiscal 2022, the conditions allowing holders of the 2026 Notes to convert have not been met. The 2026 Notes were therefore not convertible as of April 2, 2022 and were classified as long-term debt on the Company’s consolidated balance sheets.

The 2026 Notes will be redeemable, in whole or in part, at the Company’s option at any time, and from time to time, on or after March 5, 2024 and on or before the 40th scheduled trading day immediately before the maturity date, if the last reported sale price per share of the Company’s common stock exceeds 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive), including the trading day immediately preceding the date on which the Company provides notice of redemption, during any 30 consecutive trading day period ending on, and including, the trading day immediately before the date the Company sends the related redemption notice at a redemption price equal to 100% of the principal amount of the 2026 Notes to be redeemed, plus accrued and unpaid interest to, but excluding the redemption date. Upon the occurrence of certain fundamental changes involving the Company, holders of the 2026 Notes may require the Company to repurchase for cash all or part of their 2026 Notes at a repurchase price equal to 100% of the principal amount of the 2026 Notes to be repurchased, plus

accrued and unpaid interest.

On April 4, 2021, the Company adopted ASC Update No. 2020-06 using the modified retrospective method, which resulted in a decrease of $61.2 million to additional paid-in capital, a decrease to non-current deferred tax liabilities of $20.0 million, and an increase of $80.3 million to non-current convertible notes, net, on the consolidated balance sheets. Additionally, retained earnings was adjusted to remove amortization expense recognized in prior periods related to the debt discount and the convertible notes no longer have a debt discount that will be amortized, net of taxes. The impact to retained earnings on the consolidated balance sheets as of April 4, 2021 is an increase of $1.0 million.

As of April 2, 2022, the $500.0 million principal balance was netted down by the $10.5 million of remaining debt issuance costs, resulting in a net convertible note payable of $489.5 million. Interest expense related to the 2026 Notes was $2.7 million,

which is entirely attributable to the amortization of the debt issuance costs. The debt issuance costs are amortized at an effective interest rate of 0.5%.

Capped Calls

In connection with the issuance of the 2026 Notes, the Company entered into capped call transactions with certain counterparties (“Capped Calls”). The Capped Calls each have an initial strike price of approximately $175.34 per share, subject to certain adjustments, which corresponds to the initial conversion price of the 2026 Notes. The Capped Calls have initial cap prices of $250.48 per share, subject to certain adjustments. The Capped Calls are expected to partially offset the potential dilution to the Company’s common stock upon any conversion of the 2026 Notes, with such offset subject to a cap based on the cap price. The Capped Calls cover, subject to anti-dilution adjustments, approximately 2.85 million shares of the Company’s common stock. For accounting purposes, the Capped Calls are separate transactions, and not part of the 2026 Notes. As these transactions meet certain accounting criteria, the Capped Calls are recorded in stockholders' equity and are not accounted for as derivatives. The cost of $47.4 million incurred to purchase the Capped Calls was recorded as a reduction to additional paid-in capital and will not be remeasured.

Credit Facilities

On June 15, 2018, the Company entered into a credit agreement with certain lenders which provided for a $350.0 million term loan (the “Term Loan”) and a $350.0 million revolving loan (the “Revolving Credit Facility” and together with the Term Loan, the “Credit Facilities”). The Credit Facilities expire on June 15, 2023. Interest on the Credit Facilities is established using LIBOR plus 1.13% - 1.75%, depending on the Company's leverage ratio. At April 2, 2022, $284.4 million was outstanding under the Term Loan with an effective interest rate of 2.3%. At April 2, 2022, no borrowings were outstanding on the Revolving Credit Facility. The Company also had $23.0 million of uncommitted operating lines of credit to fund its global operations under which there were no outstanding borrowings as of April 2, 2022.

Under the Credit Facilities, the Company is required to maintain a consolidated leverage ratio not to exceed 3.5:1.0 and a consolidated interest coverage ratio not to be less than 4.0:1.0 during periods when the Credit Facilities are outstanding.

In connection with the Cardiva acquisition, the Company and its lenders also agreed to increase the maximum consolidated leverage ratio the Company was required to maintain for the four consecutive quarters immediately following the closing of the Cardiva acquisition to 4.25:1.0 through the third quarter of fiscal 2022, after which the maximum consolidated leverage ratio the Company is required to maintain reverted to 3.5:1.0.

In addition, the Company is required to satisfy these covenants, on a pro forma basis, in connection with any new borrowings (including any letter of credit issuances) on the Revolving Credit Facility as of the time of such borrowings. The Consolidated Interest Coverage Ratio is calculated as the consolidated EBITDA divided by consolidated interest expense while the consolidated leverage ratio is calculated as consolidated total debt divided by consolidated EBITDA. Consolidated EBITDA includes EBITDA adjusted by non-recurring and unusual transactions specifically as defined in the Credit Facilities.

The Credit Facilities also contain usual and customary non-financial affirmative and negative covenants that include certain restrictions with respect to subsequent indebtedness, liens, loans and investments (including acquisitions), financial reporting obligations, mergers, consolidations, dissolutions or liquidation, asset sales, affiliate transactions, change of its business, capital expenditures, share repurchase and other restricted payments. These covenants are subject to exceptions and qualifications set forth in the credit agreement.

Any failure to comply with the financial and operating covenants of the Credit Facilities would prevent the Company from being able to borrow additional funds and would constitute a default, which could result in, among other things, the amounts outstanding including all accrued interest and unpaid fees, becoming immediately due and payable. In addition, the Credit Facilities include customary events of default, in certain cases subject to customary cure periods. As of April 2, 2022, the Company was in compliance with the covenants.

Commitment Fee

Pursuant to the Credit Facilities, the Company is required to pay, on the last day of each calendar quarter, a commitment fee on the unused portion of the Revolving Credit Facility. The commitment fee is subject to a pricing grid based on the Company's consolidated leverage ratio. The commitment fee ranges from 0.150% to 0.275%. The current commitment fee on the undrawn portion of the Revolving Credit Facility is 0.275%.

Debt Issuance Costs and Interest

Expenses associated with the issuance of the Term Loan were capitalized and are amortized to interest expense over the life of the term loan using the effective interest method. As of April 2, 2022, the $284.4 million term loan balance was netted down by the $0.3 million of remaining debt discount, resulting in a net note payable of $284.1 million.

Interest expense was $5.8 million, $9.4 million and $13.5 million for fiscal 2022, 2021 and 2020, respectively. Accrued interest associated with the outstanding debt is included as a component of other current liabilities in the accompanying consolidated balance sheets. As of both April 2, 2022 and April 3, 2021, the Company had an insignificant amount of accrued interest associated with the outstanding debt.

The aggregate amount of debt maturing during the next five fiscal years are as follows:


Fiscal year (In thousands)
2023	$	214,375
2024	$	70,000
2025	$	—
2026	$	500,000
2027	$	—

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-Name Accounting Standards Codification
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+ Details

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

12 Months Ended

Apr. 02, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

The Company manufactures, markets and sells its products globally. For the fiscal year ended April 2, 2022, 35.6% of the Company's sales were generated outside the U.S. in local currencies. The Company also incurs certain manufacturing, marketing and selling costs in international markets in local currency.

Accordingly, earnings and cash flows are exposed to market risk from changes in foreign currency exchange rates relative to the U.S. Dollar, the Company's reporting currency. The Company has a program in place that is designed to mitigate the exposure to changes in foreign currency exchange rates. That program includes the use of derivative financial instruments to minimize, for a period of time, the impact on its financial results from changes in foreign exchange rates. The Company utilizes foreign currency forward contracts to hedge the anticipated cash flows from transactions denominated in foreign currencies, primarily the Japanese Yen and the Euro, and to a lesser extent the Swiss Franc, Australian Dollar, Chinese Yuan, and the Mexican Peso. This does not eliminate the impact of the volatility of foreign exchange rates. However, because the Company generally enters into forward contracts one year out, rates are fixed for a one-year period, thereby facilitating financial planning and resource allocation.

Designated Foreign Currency Hedge Contracts

All of the Company's designated foreign currency hedge contracts as of April 2, 2022 and April 3, 2021 were cash flow hedges under ASC 815, Derivatives and Hedging (“ASC 815”). The Company records the effective portion of any change in the fair value of designated foreign currency hedge contracts in other comprehensive income until the related third-party transaction occurs. Once the related third-party transaction occurs, the Company reclassifies the effective portion of any related gain or loss on the designated foreign currency hedge contracts to earnings. In the event the hedged forecasted transaction does not occur, or it becomes probable that it will not occur, the Company will reclassify the amount of any gain or loss on the related cash flow hedge to earnings at that time. The Company had designated foreign currency hedge contracts outstanding in the contract amount of $67.3 million as of April 2, 2022 and $56.0 million as of April 3, 2021. At April 2, 2022, a gain of $2.8 million, net of tax, will be reclassified to earnings within the next twelve months. Substantially all currency cash flow hedges outstanding as of April 2, 2022 mature within twelve months.

Non-Designated Foreign Currency Contracts

The Company manages its exposure to changes in foreign currency on a consolidated basis to take advantage of offsetting transactions and balances. It uses foreign currency forward contracts as a part of its strategy to manage exposure related to foreign currency denominated monetary assets and liabilities. These foreign currency forward contracts are entered into for periods consistent with currency transaction exposures, generally one month. They are not designated as cash flow or fair value hedges under ASC 815. These forward contracts are marked-to-market with changes in fair value recorded to earnings. The Company had non-designated foreign currency hedge contracts under ASC 815 outstanding in the contract amount of $39.5 million as of April 2, 2022 and $95.6 million as of April 3, 2021.

Interest Rate Swaps

On June 15, 2018, the Company entered into Credit Facilities which provided for a $350 million Term Loan and a $350 million Revolving Credit Facility. Under the terms of the Credit Facilities, interest is established using LIBOR plus 1.13% - 1.75%. As a result, the Company's earnings and cash flows are exposed to interest rate risk from changes to LIBOR. Part of the Company's interest rate risk management strategy includes the use of interest rate swaps to mitigate its exposure to changes in variable interest rates. The Company's objective in using interest rate swaps is to add stability to interest expense and to manage and reduce the risk inherent in interest rate fluctuations.

In August 2018, the Company entered into two interest rate swap agreements (the “Swaps”) to pay an average fixed rate of 2.80% on a total notional value of $241.9 million of debt. As a result of the interest rate swaps, 70% of the Term Loan exposed to interest rate risk from changes in LIBOR are fixed at a rate of 4.05%. The Swaps mature on June 15, 2023. As of April 2, 2022, the notional value was $199.1 million. The Company designated the Swaps as cash flow hedges of variable interest rate risk associated with $345.6 million of indebtedness. For fiscal 2022, the Company recorded a gain of $7.5 million, net of tax, in accumulated other comprehensive loss to recognize the effective portion of the fair value of the Swaps that qualify as cash flow hedges.

Trade Receivables

In the ordinary course of business, the Company grants trade credit to its customers on normal credit terms. In an effort to reduce its credit risk, the Company (i) establishes credit limits for all customers, (ii) performs ongoing credit evaluations of customers’ financial condition, (iii) monitors the payment history and aging of customers’ receivables, and (iv) monitors open orders against an individual customer’s outstanding receivable balance.

The Company's allowance for credit losses is maintained for trade accounts receivable based on the expected collectability, the historical collection experience, the length of time an account is outstanding, the financial position of the customer and information provided by credit rating services. Effective March 29, 2020, the Company adopted Update No. 2016-13, Financial Instruments – Credit Losses (Topic 326) which requires consideration of events or circumstances indicating historic collection rates may not be indicative of future collectability. For example, potential adverse changes to customer liquidity from new macroeconomic events such as the COVID-19 pandemic must be taken into consideration. To date, the Company has not experienced significant customer payment defaults, or identified other significant collectability concerns as a result of the pandemic.

The following is a rollforward of the allowance for credit losses:


	Twelve Months Ended
(In thousands)	April 2, 2022		April 3, 2021		March 28, 2020
Beginning balance	$	2,226	$	3,824	$	3,937
Credit (gain) loss	359		(991)		365
Write-offs	(110)		(607)		(478)
Ending balance	$	2,475	$	2,226	$	3,824

Fair Value of Derivative Instruments

The following table presents the effect of the Company's derivative instruments designated as cash flow hedges and those not designated as hedging instruments under ASC 815 in its consolidated statements of income and comprehensive income for the fiscal year ended April 2, 2022.


Derivative Instruments	Amount of Gain Recognized in Accumulated Other Comprehensive Loss		Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings		Location in Consolidated Statements of Income and Comprehensive Income	Amount of (Loss) Gain Excluded from Effectiveness Testing		Location in Consolidated Statements of Income and Comprehensive Income
(In thousands)
Designated foreign currency hedge contracts, net of tax	$	2,750	$	2,401	Net revenues, COGS and SG&A	$	(865)	Interest and other expense, net
Non-designated foreign currency hedge contracts	—		—			$	1,382	Interest and other expense, net
Designated interest rate swaps, net of tax	$	3,035	$	(4,421)	Interest and other expense, net

The Company did not have fair value hedges or net investment hedges outstanding as of April 2, 2022 or April 3, 2021. As of April 2, 2022, no material deferred taxes were recognized for designated foreign currency hedges.

ASC 815 requires all derivative instruments to be recognized at their fair values as either assets or liabilities on the balance sheet. The Company determines the fair value of its derivative instruments using the framework prescribed by ASC 820, Fair Value Measurements and Disclosures, by considering the estimated amount it would receive or pay to sell or transfer these instruments at the reporting date and by taking into account current interest rates, currency exchange rates, current interest rate curves, interest rate volatilities, the creditworthiness of the counterparty for assets, and its creditworthiness for liabilities. In certain instances, the Company may utilize financial models to measure fair value. Generally, the Company uses inputs that include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; other observable inputs for the asset or liability; and inputs derived principally from, or corroborated by, observable market data by correlation or other means. As of April 2, 2022, the Company has classified its derivative assets and liabilities within Level 2 of the fair value hierarchy prescribed by ASC 815, as discussed below, because these observable inputs are available for substantially the full term of its derivative instruments.

The following tables present the fair value of the Company's derivative instruments as they appear in its consolidated balance sheets as of April 2, 2022 and April 3, 2021:


(In thousands)	Location in Balance Sheet	As of April 2, 2022		As of April 3, 2021
Derivative Assets:
Designated foreign currency hedge contracts	Other current assets	$	3,133	$	2,061
Non-designated foreign currency hedge contracts	Other current assets	99		104
		$	3,232	$	2,165
Derivative Liabilities:
Designated foreign currency hedge contracts	Other current liabilities	$	56	$	454
Non-designated foreign currency hedge contracts	Other current liabilities	25		349
Designated interest rate swaps	Other current liabilities	1,813		5,550
Designated interest rate swaps	Other long-term liabilities	—		4,301
		$	1,894	$	10,654

Other Fair Value Measurements

Fair value is defined as the exit price that would be received from the sale of an asset or paid to transfer a liability, using assumptions that market participants would use in pricing an asset or liability. The fair value guidance establishes the following three-level hierarchy used for measuring fair value:

•Level 1 — Inputs to the valuation methodology are quoted market prices for identical assets or liabilities.

•Level 2 — Inputs to the valuation methodology are other observable inputs, including quoted market prices for similar assets or liabilities and market-corroborated inputs.

•Level 3 — Inputs to the valuation methodology are unobservable inputs based on management’s best estimate of inputs market participants would use in pricing the asset or liability at the measurement date, including assumptions about risk.

The Company's money market funds carried at fair value are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices.

Fair Value Measured on a Recurring Basis

Financial assets and financial liabilities measured at fair value on a recurring basis consist of the following as of April 2, 2022 and April 3, 2021.


	As of April 2, 2022
(In thousands)	Level 1		Level 2		Level 3		Total
Assets
Money market funds	$	97,425	$	—	$	—	$	97,425
Designated foreign currency hedge contracts	—		3,133		—		3,133
Non-designated foreign currency hedge contracts	—		99		—		99

	$	97,425	$	3,232	$	—	$	100,657
Liabilities
Designated foreign currency hedge contracts	$	—	$	56	$	—	$	56
Non-designated foreign currency hedge contracts	—		25		—		25
Designated interest rate swaps	—		1,813		—		1,813
Contingent consideration	—		—		33,675		33,675
	$	—	$	1,894	$	33,675	$	35,569

	As of April 3, 2021
	Level 1		Level 2		Level 3		Total
Assets
Money market funds	$	49,699	$	—	$	—	$	49,699
Designated foreign currency hedge contracts	—		2,061		—		2,061
Non-designated foreign currency hedge contracts	—		104		—		104

	$	49,699	$	2,165	$	—	$	51,864
Liabilities
Designated foreign currency hedge contracts	$	—	$	454	$	—	$	454
Non-designated foreign currency hedge contracts	—		349		—		349
Designated interest rate swaps	—		9,851		—		9,851
Contingent consideration	—		—		28,733		28,733
	$	—	$	10,654	$	28,733	$	39,387

Foreign currency hedge contracts - The fair value of foreign currency hedge contracts was measured using significant other observable inputs and valued by reference to over-the-counter quoted market prices for similar instruments. The Company does not believe that the fair value of these derivative instruments differs significantly from the amount that could be realized upon settlement or maturity, or that the changes in fair value will have a significant effect on its results of operations, financial condition or cash flows.

Interest rate swaps - The fair values of interest rate swaps are measured using the present value of expected future cash flows using market-based observable inputs, including credit risk and interest rate yield curves. The Company does not believe that the fair values of these derivative instruments differ significantly from the amounts that could be realized upon settlement or maturity, or that the changes in fair value will have a significant effect on its results of operations, financial condition or cash flows.

Contingent consideration - The fair value of contingent consideration liabilities is based on significant unobservable inputs, including management estimates and assumptions, and is measured based on the probability-weighted present value of the payments expected to be made. Accordingly, the fair value of contingent consideration has been classified as level 3 within the fair value hierarchy. The recurring level 3 fair value measurements of contingent consideration liabilities include the following significant unobservable inputs:

Fair Value at

Valuation

Unobservable

(In thousands)

April 2, 2022

Technique

Input

Range

Revenue-based payments

30,209

Discounted cash flow

Discount rate

2.2%

Projected fiscal year of payment

2023

Revenue-based payments

1,725

Discounted cash flow

Discount rate

8.5%

Projected fiscal year of payment

2023 - 2024

Regulatory-based payment

1,741

Discounted cash flow

Discount rate

4.9%

Probability of payment

0% - 100%

Projected fiscal year of payment

2024

During the fiscal year ended April 2, 2022, the Company increased the fair value of the contingent consideration related to the acquisition of Cardiva by $10.7 million, which was recorded as selling, general and administrative expenses its consolidated statement of income. The fair value of contingent consideration associated with acquisitions was $33.7 million at April 2, 2022. As of April 2, 2022, $31.2 million was included in other liabilities and $2.5 million was included in other long-term liabilities on the consolidated balance sheet.

A reconciliation of the change in the fair value of contingent consideration is included in the following table:


(In thousands)
Balance at April 3, 2021	$	28,733
Change in fair value	10,461
Payments	(5,158)
Currency translation	(361)
Balance at April 2, 2022	$	33,675

Other Fair Value Disclosures

The fair value of the 2026 Notes as of April 2, 2022 was $420.6 million, which was determined based on the quoted price for the 2026 Notes in an inactive market on the last trading day of the reporting period and is considered as level 2 in the fair value hierarchy. In estimating the risk adjusted yield, the Company utilized both an income and market approach. For the income approach, the Company used a convertible bond pricing model, which included several assumptions including volatility and the risk-free rate. For the market approach, the Company performed an evaluation of issuances of debt securities issued by other comparable companies and broader market indices.

The Term Loan (which is carried at amortized cost), accounts receivable and accounts payable approximate fair value.

RETIREMENT PLANS

12 Months Ended

Apr. 02, 2022

Retirement Benefits [Abstract]

RETIREMENT PLANS

Defined Contribution Plans

The Company has a Savings Plus Plan (the “401k Plan”) that is a 401(k) plan that allows its U.S. employees to accumulate savings on a pre-tax basis. In addition, matching contributions are made to the 401k Plan based upon pre-established rates. The Company's matching contributions amounted to approximately $6.3 million, $4.9 million and $4.7 million in fiscal 2022, 2021 and 2020, respectively. Upon the Company's Board of Directors' approval, additional discretionary contributions can also be made. No discretionary contributions were made for the 401k Plan in fiscal 2022, 2021, or 2020.

Some of the Company's subsidiaries also have defined contribution plans, to which both the employee and the employer make contributions. The employer contributions to these plans totaled $0.6 million, $0.7 million and $0.6 million in fiscal 2022, 2021 and 2020, respectively.

Defined Benefit Plans

ASC Topic 715, Compensation — Retirement Benefits, requires an employer to: (a) recognize in its statement of financial position an asset for a plan’s over-funded status or a liability for a plan’s under-funded status; (b) measure a plan’s assets and its obligations that determine its funded status as of the end of the employer’s fiscal year (with limited exceptions); and (c) recognize changes in the funded status of a defined benefit post retirement plan in the year in which the changes occur. Accordingly, the Company is required to report changes in its funded status in comprehensive loss on its consolidated statement of stockholders’ equity and consolidated statement of comprehensive income.

Benefits under these plans are generally based on either career average or final average salaries and creditable years of service as defined in the plans. The annual cost for these plans is determined using the projected unit credit actuarial cost method that includes actuarial assumptions and estimates that are subject to change.

Some of the Company's foreign subsidiaries have defined benefit pension plans covering substantially all full time employees at those subsidiaries. Net periodic benefit costs for the plans in the aggregate include the following components:


(In thousands)	2022		2021		2020
Service cost	$	1,714	$	1,861	$	1,829
Interest cost on benefit obligation	242		279		301
Expected return on plan assets	(88)		(66)		(178)
Actuarial loss	189		119		129
Amortization of unrecognized prior service cost	(175)		(123)		(98)

Plan settlements	(184)		—		(239)
Totals	$	1,698	$	2,070	$	1,744

The activity under those defined benefit plans are as follows:


(In thousands)	April 2, 2022		April 3, 2021
Change in Benefit Obligation:
Benefit Obligation, beginning of year	$	(31,891)	$	(28,370)
Service cost	(1,714)		(1,861)
Interest cost	(242)		(279)
Benefits paid	928		1,990
Actuarial gain (loss)	3,208		(1,249)
Employee and plan participants contribution	(2,093)		(1,084)
Plan settlements	1,367		525
Foreign currency changes	27		(1,563)
Benefit obligation, end of year	$	(30,410)	$	(31,891)
Change in Plan Assets:
Fair value of plan assets, beginning of year	$	16,142	$	15,287
Company contributions	1,432		1,224
Benefits paid	(719)		(1,822)
(Loss) gain on plan assets	(108)		219
Employee and plan participants contribution	2,077		1,064
Plan settlements	(1,356)		—
Foreign currency changes	(21)		170
Fair value of plan assets, end of year	$	17,447	$	16,142
Funded Status*	$	(12,963)	$	(15,749)
Unrecognized net actuarial (gain) loss	(236)		2,948
Unrecognized prior service cost	(1,099)		(1,248)
Net amount recognized	$	(14,298)	$	(14,049)
* Substantially all of the unfunded status is non-current

One of the benefit plans is funded by benefit payments made by the Company through the purchase of reinsurance contracts that do not qualify as plan assets under ASC Topic 715. Accordingly, that plan has no assets included in the information presented above. The total asset value associated with the reinsurance contracts was $6.8 million and $7.0 million at April 2, 2022 and April 3, 2021, respectively. The total liability for this plan, which is included in the table above, was $9.6 million and $11.1 million as of April 2, 2022 and April 3, 2021, respectively.

The accumulated benefit obligation for all plans was $28.4 million and $30.6 million for fiscal 2022 and 2021, respectively. There were no plans where the plan assets were greater than the accumulated benefit obligation as of April 2, 2022 and April 3, 2021.

The components of the change recorded in the Company's accumulated other comprehensive loss related to its defined benefit plans, net of tax, are as follows (in thousands):


Balance as of March 30, 2019	$	(527)

Actuarial gain	614
Prior service cost	(87)
Plan settlements	(209)
Balance as of March 28, 2020	$	(209)
Actuarial loss	(221)
Prior service cost	(130)
Plan settlements	—
Balance as of April 3, 2021	$	(560)
Actuarial gain	2,532
Prior service cost	(194)
Plan settlements	(159)
Balance as of April 2, 2022	$	1,619

The Company expects to amortize $0.3 million from accumulated other comprehensive loss to net periodic benefit cost during fiscal 2023.

The weighted average rates used to determine the net periodic benefit costs and projected benefit obligations were as follows:


	2022		2021		2020
Discount rate	1.38	%	0.58	%	0.82	%
Rate of increased salary levels	1.81	%	1.64	%	1.74	%
Expected long-term rate of return on assets	0.69	%	0.42	%	0.31	%

Assumptions for expected long-term rate of return on plan assets are based upon actual historical returns, future expectations of returns for each asset class and the effect of periodic target asset allocation rebalancing. The results are adjusted for the payment of reasonable expenses of the plan from plan assets.

The Company has no other material obligation for post-retirement or post-employment benefits.

The Company's investment policy for pension plans is to balance risk and return through a diversified portfolio to reduce interest rate and market risk. Maturities are managed so that sufficient liquidity exists to meet immediate and future benefit payment requirements.

ASC Topic 820, Fair Value Measurements and Disclosures, provides guidance for reporting and measuring the plan assets of the Company's defined benefit pension plan at fair value as of April 2, 2022. Using the same three-level valuation hierarchy for disclosure of fair value measurements as described in Note 14, Financial Instruments and Fair Value Measurements, all of the assets of the Company’s plan are classified within Level 2 of the fair value hierarchy because the plan assets are primarily insurance contracts.

Expected benefit payments for both plans are estimated using the same assumptions used in determining the Company’s benefit obligation at April 2, 2022. Benefit payments will depend on future employment and compensation levels, average years employed and average life spans, among other factors, and changes in any of these factors could significantly affect these estimated future benefit payments. Estimated future benefit payments are as follows:


(In thousands)
Fiscal 2023	$	1,328
Fiscal 2024	1,426
Fiscal 2025	1,326
Fiscal 2026	1,429
Fiscal 2027	1,384
Fiscal 2028-2032	9,867

The Company's contributions for fiscal 2023 are expected to be consistent with the current year.

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Apr. 02, 2022
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES The Company is a party to various legal proceedings and claims arising out of the ordinary course of its business. The Company believes that except for those matters described below, there are no other proceedings or claims pending against it the ultimate resolution of which could have a material adverse effect on its financial condition or results of operations. At each reporting period, management evaluates whether or not a potential loss amount or a potential range of loss is probable and reasonably estimable under ASC 450, Contingencies, for all matters. Legal costs are expensed as incurred. During the third quarter of fiscal 2021, the Company received a subpoena from the U.S. Attorney’s Office for the District of Massachusetts. The subpoena requests certain documents regarding the Company’s apheresis and autotransfusion devices and disposables, including documents relating to product complaints and adverse event reporting, regulatory clearances and product design changes, among other matters. The Company is fully cooperating with this inquiry. In the fourth quarter of fiscal 2021, a putative class action complaint was filed against the Company in the Circuit Court of Cook County, Illinois by Mary Crumpton, on behalf of herself and similarly situated individuals. See Mary Crumpton v. Haemonetics Corporation, Case No. 1:21-cv-1402. In her complaint, the plaintiff asserts that between June 2017 and August 2018 she donated plasma at a center operated by one of the Company’s customers, that the center required her to scan her finger print in a scanner that stored her finger print to identify her prior to plasma donation, and that the Company’s eQue donor management software sent her biometric information to a Company-owned server to be collected and stored in a manner that violated her rights under the Illinois Biometric Information Privacy Act (“BIPA”). The plaintiff seeks statutory damages, attorneys’ fees, and injunctive and equitable relief. In March 2021, the Company moved to dismiss the complaint for lack of personal jurisdiction and concurrently filed a motion to dismiss for failure to state a claim and a motion to stay. In late March 2022, the court denied the Company’s motion to dismiss for lack of personal jurisdiction but did not address the merits of the Company’s other positions. The Company believes the allegations in this lawsuit are without merit and will defend vigorously against them. The case is still in an early stage and the Company cannot reasonably estimate a range of potential loss and expense at this time.

CAPITAL STOCK

12 Months Ended

Apr. 02, 2022

Share-based Payment Arrangement [Abstract]

CAPITAL STOCK

Stock Plans

On July 25, 2019 (the “Effective Date”), the Haemonetics Corporation 2019 Long-Term Incentive Compensation Plan (the “2019 Equity Plan”) was approved and became effective. The 2019 Equity Plan permits the award of incentive stock options, non-qualified stock options, stock appreciation rights (“SARs”), restricted stock, restricted stock units (including performance-based restricted stock units) and other awards to the Company's key employees, non-employee directors and certain consultants and advisors of the Company and its subsidiaries. The 2019 Equity Plan is administered by the Compensation Committee of the Board of Directors (the “Committee”), which consists of three independent members of the Company's Board of Directors, and is the successor to the Haemonetics Corporation 2005 Long-Term Incentive Compensation Plan, as amended (the “2005 Equity Plan”).

Upon the Effective Date, no further awards were granted under the 2005 Equity Plan; however, each outstanding award under the 2005 Equity Plan will remain outstanding under that plan and continue to be governed under its terms and any applicable award agreement. The maximum number of shares available for award under 2019 Equity Plan is 5,759,433, which consists of 2,700,000 shares of common stock authorized for issuance under the 2019 Equity Plan plus 3,059,433 shares of common stock reserved for issuance under the 2005 Equity Plan that remained available for grant under the 2005 Plan as of the Effective Date.

Under the 2019 Equity Plan, any shares that are subject to the award of stock options or SARs will be counted against the authorized share reserve as one share for every one share issued and any shares that are subject to awards other than stock options, SARs or cash awards will be counted against the authorized share reserve as 2.76 shares for every one share granted. Shares of common stock subject to outstanding grants under the 2005 Equity Plan as of the Effective Date that terminate, expire, or are otherwise canceled without having been exercised will be added to the share reserve at the applicable 2019 Equity Plan ratios. The total shares available for future grant as of April 2, 2022 were 3,928,160.

Share-Based Compensation

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)	2022	2021	2020
Selling, general and administrative expenses	$20,694	$22,888	$18,022
Research and development	2,537	1,874	1,210
Cost of goods sold	1,128	754	1,222
	$24,359	$25,516	$20,454

Stock Options

Options are granted to purchase common stock at prices as determined by the Committee, but in no event shall such exercise price be less than the fair market value of the common stock at the time of the grant. Options generally vest in equal installments over a four year period for employees and one year from grant for non-employee directors. Options expire not more than 7 years from the date of the grant. The grant-date fair value of options, adjusted for estimated forfeitures, is recognized as expense on a straight line basis over the requisite service period, which is generally the vesting period. Forfeitures are estimated based on historical experience.

A summary of stock option activity for the fiscal year ended April 2, 2022 is as follows:


	Options Outstanding	Weighted Average Exercise Price per Share		Weighted Average Remaining Life (years)	Aggregate Intrinsic Value ($000’s)
Outstanding at April 3, 2021	960,687	$	70.29	4.04	$	40,179
Granted	310,302	56.70
Exercised	(76,648)	38.24
Forfeited/Canceled	(137,703)	83.71
Outstanding at April 2, 2022	1,056,638	$	66.87	3.79	$	12,423

Exercisable at April 2, 2022	561,114	$	57.84	2.41	$	10,505

Vested or expected to vest at April 2, 2022	970,200	$	66.47	2.77	$	12,002

The total intrinsic value of options exercised was $1.7 million, $8.2 million and $18.1 million during fiscal 2022, 2021 and 2020, respectively.

As of April 2, 2022, there was $8.5 million of total unrecognized compensation cost related to non-vested stock options. This cost is expected to be recognized over a weighted average period of 2.5 years.

The fair value was estimated using the Black-Scholes option-pricing model based on the closing stock price at the grant date and the weighted average assumptions specific to the underlying options. Expected volatility assumptions are based on the historical volatility of the Company's common stock over the expected term of the option. The risk-free interest rate was selected based upon yields of U.S. Treasury issues with a term equal to the expected life of the option being valued. The expected life of the option was estimated with reference to historical exercise patterns, the contractual term of the option and the vesting period.

The assumptions utilized for option grants during the periods presented are as follows:


	2022			2021			2020
Volatility	41.9		%	33.5		%	28.2		%
Expected life (years)	4.9			4.9			4.9
Risk-free interest rate	0.8		%	0.4		%	2.5		%
Dividend yield	0.0		%	0.0		%	0.0		%
Grant-date fair value per Option	$	20.97		$	30.53		$	28.25

Restricted Stock Units

Restricted Stock Units (“RSUs”) generally vest in equal installments over a four year period for employees and one year from grant for non-employee directors. The grant-date fair value of RSUs, adjusted for estimated forfeitures, is recognized as expense on a straight-line basis over the requisite service period, which is generally the vesting period. The fair market value of RSUs is determined based on the market value of the Company’s shares on the date of grant.

A summary of RSU activity for the fiscal year ended April 2, 2022 is as follows:


	Shares	Weighted Average Grant Date Fair Value
Unvested at April 3, 2021	248,463	$	91.25
Granted	316,985	56.96
Vested	(115,045)	79.60
Forfeited	(63,867)	74.96
Unvested at April 2, 2022	386,536	$	69.27

The weighted-average grant-date fair value of RSUs granted and total fair value of RSUs vested are as follows:


	2022		2021		2020
Grant-date fair value per RSU	$	56.96	$	102.19	$	102.32
Fair value of RSUs vested	$	79.60	$	66.87	$	54.58

As of April 2, 2022, there was $17.6 million of total unrecognized compensation cost related to non-vested restricted stock units. This cost is expected to be recognized over a weighted average period of 2.2 years.

Performance Share Units

The grant date fair value of Performance Share Units (“PSUs”), adjusted for estimated forfeitures, is recognized as expense on a straight line basis from the grant date through the end of the performance period. The value of these PSUs is generally based on relative total shareholder return which equals total shareholder return for the Company as compared with total shareholder return of the PSU comparison group, measured over a three year performance period. The PSUs comparison group consists of the Standard and Poor's (“S&P”) MidCap 400 Index. Depending on the Company's relative performance during the performance period, a recipient of the award is entitled to receive a number of ordinary shares equal to a percentage, ranging from 0% to 200%, of the award granted. If the Company’s total shareholder return for the performance period is negative, then any share payout will be capped at 100% of the target award, regardless of the Company's performance relative to the its comparison group. As a result, the Company may issue up to 565,892 shares related to outstanding performance based awards.

A summary of PSU activity for the fiscal year ended April 2, 2022 is as follows:


	Shares	Weighted Average Grant Date Fair Value
Unvested at April 3, 2021	240,891	$	129.24
Granted(1)	106,069	72.52
Vested	—	—
Forfeited	(64,014)	107.04
Unvested at April 2, 2022	282,946	$	102.17
(1) Includes the adjustment of 70,672 shares for awards granted in fiscal 2019, based on actual relative total shareholder return of 0%

The Company uses the Monte Carlo model to estimate the probability of satisfying the performance criteria and the resulting fair value of PSU awards with market conditions. The assumptions used in the Monte Carlo model for PSUs granted during each fiscal year were as follows:


	2022		2021		2020
Expected stock price volatility	49.23	%	36.79	%	28.64	%
Peer group stock price volatility	45.75	%	42.31	%	29.77	%
Correlation of returns	65.06	%	65.12	%	50.30	%

The weighted-average grant-date fair value of PSUs granted and total fair value of PSUs vested are as follows:


	2022		2021		2019
Grant-date fair value per PSU	$	72.52	$	123.92	$	146.93
Fair value of PSUs vested	$	—	$	47.43	$	34.78

As of April 2, 2022, there was $14.0 million of total unrecognized compensation cost related to non-vested performance share units. This cost is expected to be recognized over a weighted average period of 1.6 years.

Employee Stock Purchase Plan

The Company has an Employee Stock Purchase Plan (the “Purchase Plan”) under which a maximum of 3,200,000 shares (subject to adjustment for stock splits and similar changes) of common stock may be purchased by eligible employees. Substantially all of its full-time employees are eligible to participate in the Purchase Plan.

The Purchase Plan provides for two “purchase periods” within each of its fiscal years, the first commencing on November 1 of each year and continuing through April 30 of the next calendar year, and the second commencing on May 1 of each year and continuing through October 31 of such year. Shares are purchased through an accumulation of payroll deductions (of not less than 2% or more than 15% of compensation, as defined) for the number of whole shares determined by dividing the balance in the employee’s account on the last day of the purchase period by the purchase price per share for the stock determined under the Purchase Plan. The purchase price for shares is the lower of 85% of the fair market value of the common stock at the beginning of the purchase period, or 85% of such value at the end of the purchase period.

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:


	2022		2021		2020
Volatility	55.6	%	49.8	%	34.7	%
Expected life (months)	6		6		6
Risk-free interest rate	0.1	%	0.1	%	2.0	%
Dividend Yield	0.0	%	0.0	%	0.0	%

The weighted average grant date fair value of the six-month option inherent in the Purchase Plan was approximately $20.77, $30.77 and $27.11 during fiscal 2022, 2021 and 2020, respectively.

SEGMENT AND ENTERPRISE-WIDE INFORMATION

12 Months Ended

Apr. 02, 2022

Segment Reporting [Abstract]

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 and operating 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:


(In thousands)	2022		2021		2020
Net revenues
Plasma	$	351,945	$	333,334	$	460,637
Blood Center	294,541		307,370		325,661
Hospital	321,580		210,606		194,604
Net revenues by business unit	968,066		851,310		980,902
Service (1)	20,811		20,758		19,830
Effect of exchange rates	4,319		(1,605)		(12,253)
Net revenues	$	993,196	$	870,463	$	988,479
(1) Reflects revenue for service, maintenance and parts.


(In thousands)	2022		2021		2020
Segment operating income
Plasma	$	183,131	$	172,463	$	225,351
Blood Center	136,691		141,962		159,802
Hospital	129,783		84,066		80,669
Segment operating income	449,605		398,491		465,822
Corporate expenses (1)	(281,476)		(256,751)		(255,727)
Effect of exchange rates	18,993		12,830		7,920
Deal amortization	(47,414)		(32,830)		(25,746)
Impairment of assets and PCS2 related charges	(5,732)		(25,696)		(75,750)
Integration and transaction costs	(21,604)		(18,421)		(568)
Restructuring and restructuring related costs	(28,824)		(15,661)		(19,878)
MDR and IVDR costs	(11,033)		(4,130)		(1,506)
Litigation-related charges	(1,368)		(897)		701
Gains on divestitures and sale of assets	9,603		32,812		8,083
Operating income	$	80,750	$	89,747	$	103,351
(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.


(In thousands)	2022		2021		2020
Depreciation and amortization
Plasma	$	28,314	$	24,093	$	63,347
Blood Center	32,489		39,672		38,429
Hospital	36,944		20,522		8,513
Total depreciation and amortization (excluding impairment charges)	$	97,747	$	84,287	$	110,289


(In thousands)	April 2, 2022		April 3, 2021
Long-lived assets(1)
Plasma	$	129,241	$	105,599
Blood Center	82,714		83,225
Hospital	46,527		28,735
Total long-lived assets	$	258,482	$	217,559
(1) Long-lived assets are comprised of property, plant and equipment.

Selected information by operating regions is presented below:


(In thousands)	April 2, 2022		April 3, 2021
Long-lived assets(1)
United States	$	200,927	$	159,749
Japan	1,096		1,515
Europe	11,989		10,384
Asia	28,132		30,588
Other	16,338		15,323
Total long-lived assets	$	258,482	$	217,559
(1) Long-lived assets are comprised of property, plant and equipment.


(In thousands)	2022		2021		2020
United States	$	639,322	$	522,607	$	646,204
Japan	75,562		77,676		72,218
Europe	163,520		159,077		153,347
Asia	110,802		105,820		109,295
Other	3,990		5,283		7,415
Net revenues	$	993,196	$	870,463	$	988,479

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:


(In thousands)	2022		2021		2020
Plasma products and services	427,611		414,266		537,231
Blood Center products and services	236,158		239,614		252,829
Hospital products and services	329,427		216,583		198,419
Net revenues	$	993,196	$	870,463	$	988,479

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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+ Details

ACCUMULATED OTHER COMPREHENSIVE LOSS

12 Months Ended

Apr. 02, 2022

Stockholders' Equity Note [Abstract]

ACCUMULATED OTHER COMPREHENSIVE LOSS

The following is a roll-forward of the components of accumulated other comprehensive loss, net of tax, for the years ended April 2, 2022 and April 3, 2021:


(In thousands)	Foreign currency		Defined benefit plans		Net Unrealized Gain (Loss) on Derivatives		Total
Balance, March 28, 2020	$	(31,100)	$	(209)	$	(13,826)	$	(45,135)
Other comprehensive income (loss) before reclassifications	9,572		(379)		(489)		8,704
Amounts reclassified from accumulated other comprehensive gain(1)	—		28		6,856		6,884
Net current period other comprehensive income (loss)	9,572		(351)		6,367		15,588
Balance, April 3, 2021	$	(21,528)	$	(560)	$	(7,459)	$	(29,547)
Other comprehensive income (loss) before reclassifications	(6,391)		2,179		5,785		1,573
Amounts reclassified from accumulated other comprehensive gain(1)	—		—		2,020		2,020
Net current period other comprehensive income (loss)	(6,391)		2,179		7,805		3,593
Balance, April 2, 2022	$	(27,919)	$	1,619	$	346	$	(25,954)
(1) Presented net of income taxes, the amounts of which are insignificant.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

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+ Details

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Apr. 02, 2022

Accounting Standards Update and Change in Accounting Principle [Abstract]

Fiscal Year

Fiscal YearHaemonetics' fiscal year ends on the Saturday closest to the last day of March. Fiscal 2021 included 53 weeks with each of the first three quarters having 13 weeks and the fourth quarter having 14 weeks. Fiscal 2022 and 2020 included 52 weeks with each quarter having 13 weeks.

Principles of Consolidation

Use of Estimates

Contingencies

Revenue Recognition

Product Revenues

Software and Other Revenues

Significant Judgments

Contract Balances

Practical Expedients

Translation of Foreign Currencies

Cash and Cash Equivalents

approximates fair market value. As of April 2, 2022, cash and cash equivalents consisted primarily of investments in United States Government Agency and institutional money market funds.

Allowance for Doubtful Accounts

Inventories

Property, Plant and Equipment


Asset Classification						Estimated Useful Lives
Building						30-40 Years
Building improvements						5-20 Years
Plant equipment and machinery						3-15 Years
Office equipment and information technology						3-10 Years
Haemonetics equipment						3-7 Years

•Purchase and consumption of a certain level of disposable products

•Payment of monthly rental fees

•An asset utilization performance metric, such as performing a minimum level of procedures per month per device

Goodwill and Intangible Assets

Accounting for the Costs of Computer Software to be Sold, Leased, or Otherwise Marketed

Research and Development Expenses

Research and Development ExpensesAll research and development costs are expensed as incurred.

Advertising Costs

Advertising CostsAll advertising costs are expensed as incurred and are included in selling, general and administrative expenses in the consolidated statements of income.

Shipping and Handling Costs

Shipping and Handling CostsShipping and handling costs are included in selling, general and administrative expenses.

Income Taxes

Derivative Instruments

Share-Based Compensation

Costs Associated with Exit Activities

Valuation of Acquisitions

Valuation of AcquisitionsThe Company allocates the amounts it pays for each acquisition to the assets acquired and liabilities assumed based on their estimated fair values at the dates of acquisition, including acquired identifiable intangible assets. The Company bases the estimated fair value of identifiable intangible assets on detailed valuations that use significant assumptions including forecasted cash flows, revenues attributable to existing technology and existing customer attrition. When estimating the significant assumptions to be used in the valuation, the Company includes a consideration of current industry information, market and economic trends, historical results of the acquired business, and other relevant factors. These significant assumptions are forward-looking and could be affected by future economic and market conditions. The Company allocates any excess purchase price over the fair value of the net tangible and intangible assets acquired to goodwill.

Concentration of Credit Risk and Significant Customers

Recent Accounting Pronouncements

Standards Implemented

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Apr. 02, 2022

Accounting Standards Update and Change in Accounting Principle [Abstract]

Schedule of Property, Plant and Equipment Estimated Useful Lives


Asset Classification						Estimated Useful Lives
Building						30-40 Years
Building improvements						5-20 Years
Plant equipment and machinery						3-15 Years
Office equipment and information technology						3-10 Years
Haemonetics equipment						3-7 Years

Schedule of Other Accrued Liabilities

Other Current Liabilities

Other current liabilities represent items payable or expected to settle within the next twelve months. The items included in the fiscal year end balances were:


(In thousands)	April 2, 2022		April 3, 2021
VAT liabilities	$	3,681	$	4,431
Forward contracts and interest rate swaps	1,894		6,353
Deferred revenue	31,826		26,272
Accrued taxes	10,227		19,226
Lease liability	7,196		7,708
Acquisition related liability(1)	1,435		14,419
Contingent consideration	31,184		20,942
All other	33,764		39,235
Total	$	121,207	$	138,586
(1)Related to equity and employee compensation payments associated with the acquisition of Cardiva Medical Inc. that were funded to a third party agent at the transaction closing date but were not yet paid to certain selling shareholders and/or employees as of April 2, 2022 and April 3, 2021.

Other Long-Term Liabilities

Other long-term liabilities represent items that are not payable or expected to settle within the next twelve months.

RESTRUCTURING (Tables)

12 Months Ended

Apr. 02, 2022

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Transformation Costs by Type of Cost


(In thousands)	2020 Program		Prior Programs		Total
Balance at March 31, 2019	$	—	$	7,479	$	7,479
Costs incurred, net of reversals	2,234		1,357		3,591
Payments	(1,098)		(7,177)		(8,275)
Non-cash adjustments	—		(147)		(147)
Balance at March 28, 2020	$	1,136	$	1,512	$	2,648
Costs incurred, net of reversals	1,501		(57)		1,444
Payments	(2,062)		(1,018)		(3,080)

Balance at April 3, 2021	$	575	$	437	$	1,012
Costs incurred, net of reversals	4,202		28		4,230
Payments	(2,317)		(120)		(2,437)
Balance at April 2, 2022	$	2,460	$	345	$	2,805

The following presents the restructuring costs by line item during fiscal 2022, 2021 and 2020 within our accompanying consolidated statements of income and comprehensive income:


(In thousands)	2022		2021		2020
Cost of goods sold	$	2,236	$	390	$	1,082
Research and development	105		142		532
Selling, general and administrative expenses	1,889		912		1,977
Total	$	4,230	$	1,444	$	3,591

Restructuring and Related Costs by Segment

The following presents the restructuring related costs by line item during fiscal 2022, 2021 and 2020 within our accompanying consolidated statements of income and comprehensive income:


(In thousands)	2022		2021		2020
Cost of goods sold	$	17,832	$	9,318	$	2,227
Research and development	714		1,026		354
Selling, general and administrative expenses	6,048		3,873		13,706
Total	$	24,594	$	14,217	$	16,287

The tables below present restructuring and restructuring related costs by reportable segment:


Restructuring costs
(In thousands)	2022		2021		2020
Plasma	$	2,492	$	454	$	544
Blood Center	(18)		201		(5)
Hospital	(93)		322		845
Corporate	1,849		467		2,207
Total	$	4,230	$	1,444	$	3,591

Restructuring related costs
(In thousands)	2022		2021		2020
Plasma	$	7,906	$	1,870	$	820
Blood Center	556		1,599		320
Hospital	379		14		—
Corporate	15,753		10,734		15,147
Total	$	24,594	$	14,217	$	16,287

Total restructuring and restructuring related costs	$	28,824	$	15,661	$	19,878

ACQUISITIONS (Tables)

12 Months Ended

Apr. 02, 2022

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition

The following amounts represent the fair value of the identifiable assets acquired and liabilities assumed for Cardiva:


(In thousands)	March 1, 2021
Accounts receivable	$	7,304
Inventories	18,765
Prepaid expenses and other current assets	850
Property, plant and equipment	1,186
Intangible assets	250,560
Goodwill	253,707
Other long-term assets	1,868
Total assets acquired	$	534,240
Accounts payable	3,292
Accrued payroll and related costs	58,211
Other liabilities	1,903
Deferred tax liability	26,793
Other long-term liabilities	1,772
Total liabilities assumed	$	91,971
Net assets acquired	$	442,269

Intangible assets acquired consist of the following:


(In thousands)	Amount		Weighted-Average Amortization Period	Risk-Adjusted Discount Rates used in Purchase Price Allocation
Completed technology	$	213,290	13 years	13.5	%
Customer relationships	18,166		12 years	13.0	%
Trademarks	5,437		13 years	13.5	%
IPR&D	13,667		Indefinite	15.0	%
Total	$	250,560

The following amounts represent the fair value of the identifiable assets acquired and liabilities assumed for enicor completed during fiscal 2021:


(In thousands)	April 1, 2020
Inventory	$	634
Other current assets	685
Property, plant and equipment	289
Intangible assets	14,090
Goodwill	8,153
Total assets acquired	$	23,851
Other current liabilities	289
Deferred tax liability	3,036
Total liabilities assumed	$	3,325
Net assets acquired	$	20,526

Intangible assets acquired consist of the following:


(In thousands)	Amount		Weighted-Average Amortization Period	Risk-Adjusted Discount Rates used in Purchase Price Allocation
Completed technology	$	13,441	10 Years	20	%
Customer relationships	347		10 Years	20	%
Trademark	302		10 Years	20	%
Total	$	14,090

Business Acquisition, Pro Forma Information


(In thousands) (Unaudited)	2021		2020
Net revenues	$	916,601	$	1,024,235
Net income	$	53,884	$	19,191

INCOME TAXES (Tables)

12 Months Ended

Apr. 02, 2022

Income Tax Disclosure [Abstract]

Schedule Domestic and Foreign Income Before Provision for Income Tax

Domestic and foreign income (loss) before (benefit) provision for income tax is as follows:


(In thousands)	2022		2021		2020
Domestic	$	(5,219)	$	5,526	$	5,344
Foreign	68,848		67,387		81,808
Total	$	63,629	$	72,913	$	87,152

Schedule of Income Tax Provision Components

The income tax (benefit) provision from continuing operations contains the following components:


(In thousands)	2022		2021		2020
Current
Federal	$	3,586	$	(289)	$	3,834
State	1,682		1,256		1,054
Foreign	9,940		13,319		12,467
Total current	$	15,208	$	14,286	$	17,355
Deferred
Federal	3,455		(12,906)		(8,257)
State	310		(2,436)		280
Foreign	1,281		(5,500)		1,248
Total deferred	$	5,046	$	(20,842)	$	(6,729)
Total	$	20,254	$	(6,556)	$	10,626

Schedule of Net Deferred Tax Asset

Tax effected, significant temporary differences comprising the net deferred tax liability are as follows:


(In thousands)	April 2, 2022		April 3, 2021
Deferred tax assets:
Depreciation	$	623	$	1,054
Amortization of intangibles	1,243		1,167
Inventory	6,841		5,166

Accruals, reserves and other deferred tax assets	13,020		17,274
Net operating loss carry-forward	30,212		38,827
Stock based compensation	4,422		4,374
Operating lease liabilities	15,777		16,941
Tax credit carry-forward, net	6,452		5,073
Capitalized research expenses	6,733		4,291
Gross deferred tax assets	85,323		94,167
Less valuation allowance	(14,077)		(11,081)
Total deferred tax assets (after valuation allowance)	71,246		83,086
Deferred tax liabilities:
Depreciation	(15,727)		(10,470)
Amortization of goodwill and intangibles	(63,004)		(68,802)
Unremitted earnings	(1,254)		(1,060)
Operating lease assets	(12,877)		(14,722)
Debt discount	—		(19,868)
Other deferred tax liabilities	(2,643)		(5,980)
Total deferred tax liabilities	(95,505)		(120,902)
Net deferred tax liabilities	$	(24,259)	$	(37,816)

Schedule of Effective Income Tax Rate Reconciliation


(In thousands)	2022				2021				2020
Tax at federal statutory rate	$	13,362	21.0	%	$	15,312	21.0	%	$	18,302	21.0	%

Difference between U.S. and foreign tax	(3,799)		(6.0)	%	(7,049)		(9.7)	%	(6,688)		(7.7)	%
State income taxes net of federal benefit	1,384		2.2	%	(924)		(1.3)	%	(342)		(0.4)	%
Change in uncertain tax positions	(777)		(1.2)	%	1,172		1.6	%	785		0.9	%

Global intangible low taxed income	3,608		5.7	%	(758)		(1.0)	%	5,431		6.2	%
Unremitted earnings	194		0.3	%	257		0.4	%	40		—	%
Deferred statutory rate changes	40		0.1	%	(243)		(0.3)	%	1,091		1.3	%

Non-deductible executive compensation	1,080		1.7	%	2,238		3.1	%	2,423		2.8	%
Non-deductible expenses	741		1.2	%	2,038		2.8	%	1,050		1.2	%
Stock compensation benefits	2,070		3.3	%	(5,504)		(7.5)	%	(12,133)		(13.9)	%
Research credits	(1,496)		(2.4)	%	(1,230)		(1.7)	%	(2,085)		(2.4)	%
Contingent consideration	1,880		3.0	%	—		—	%	—		—	%
Intercompany sale of intellectual property	—		—	%	(7,550)		(10.4)	%	—		—	%


Valuation allowance	254		0.2	%	(3,144)		(4.4)	%	2,939		3.4	%
Other, net	1,713		2.7	%	(1,171)		(1.6)	%	(187)		(0.2)	%
Income tax (benefit) provision	$	20,254	31.8	%	$	(6,556)	(9.0)	%	$	10,626	12.2	%

Summary of Gross Unrecognized Tax Benefits

The following table summarizes the activity related to its gross unrecognized tax benefits for the fiscal years ended April 2, 2022, April 3, 2021 and March 28, 2020:


(In thousands)	April 2, 2022		April 3, 2021		March 28, 2020
Beginning Balance	$	6,107	$	4,620	$	4,657
Additions for tax positions of current year	219		335		180
Additions for tax positions of prior years	—		1,194		880
Reductions of tax positions	(808)		(42)		(539)
Settlements of tax positions	(1,579)		—		(558)
Closure of statute of limitations	—		—		—
Ending Balance	$	3,939	$	6,107	$	4,620

EARNINGS PER SHARE (Tables)

12 Months Ended

Apr. 02, 2022

Earnings Per Share [Abstract]

Schedule of Earnings Per Share Reconciliation

The following table provides a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations.


(In thousands, except per share amounts)	2022		2021		2020
Basic EPS
Net income	$	43,375	$	79,469	$	76,526
Weighted average shares	51,047		50,688		50,692
Basic income per share	$	0.85	$	1.57	$	1.51
Diluted EPS
Net income	$	43,375	$	79,469	$	76,526
Basic weighted average shares	51,047		50,688		50,692
Net effect of common stock equivalents	306		604		1,123
Diluted weighted average shares	51,353		51,292		51,815
Diluted income per share	$	0.84	$	1.55	$	1.48

INVENTORIES (Tables)

12 Months Ended

Apr. 02, 2022

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories are stated at the lower of cost or net realizable value and include the cost of material, labor and manufacturing overhead. Cost is determined with the first-in, first-out method.


(In thousands)	April 2, 2022		April 3, 2021
Raw materials	$	88,886	$	74,910
Work-in-process	17,187		23,111
Finished goods	186,954		224,593
Total inventories	$	293,027	$	322,614

PROPERTY, PLANT AND EQUIPMENT (Tables)

12 Months Ended

Apr. 02, 2022

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property and equipment consisted of the following:


(In thousands)	April 2, 2022		April 3, 2021
Land	$	5,165	$	5,116
Building and building improvements	104,546		107,322
Plant equipment and machinery	233,564		216,751
Office equipment and information technology	120,119		115,810
Haemonetics equipment	405,753		372,259
Total	869,147		817,258
Less: accumulated depreciation and amortization	(610,665)		(599,699)
Property, plant and equipment, net	$	258,482	$	217,559

GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Apr. 02, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill


(In thousands)	Plasma		Blood Center		Hospital		Total
Carrying amount as of March 28, 2020	$	28,979	$	36,632	$	145,041	$	210,652

Divestitures	—		(2,181)		(2,853)		(5,034)
Acquisitions	—		—		259,788		259,788
Currency translation	64		77		897		1,038
Carrying amount as of April 3, 2021	29,043		34,528		402,873		466,444


Purchase accounting adjustments	—		—		2,070		2,070
Currency translation	—		(362)		(865)		(1,227)
Carrying amount as of April 2, 2022	$	29,043	$	34,166	$	404,078	$	467,287

Schedule of Amoritized Intangibles

The gross carrying amount of intangible assets and the related accumulated amortization as of April 2, 2022 and April 3, 2021 is as follows:


(In thousands)	Gross Carrying Amount		Accumulated Amortization		Net

As of April 2, 2022
Amortizable:
Patents	$	14,777	$	9,821	$	4,956
Capitalized software	76,360		52,249		24,111
Other developed technology	362,783		124,799		237,984
Customer contracts and related relationships	204,166		185,150		19,016
Trade names	9,517		4,533		4,984
Total	$	667,603	$	376,552	$	291,051
Non-amortizable:
In-process software development	$	2,648
In-process research and development	13,667
In-process patents	2,895
Total	$	19,210


(In thousands)	Gross Carrying Amount		Accumulated Amortization		Net

As of April 3, 2021
Amortizable:
Patents	$	10,482	$	8,897	$	1,585
Capitalized software	71,575		43,858		27,717
Other developed technology	381,166		95,518		285,648
Customer contracts and related relationships	204,701		168,446		36,255
Trade names	9,516		3,921		5,595
Total	$	677,440	$	320,640	$	356,800
Non-amortizable:
In-process software development	$	4,007
In-process patents	4,676
Total	$	8,683

Schedule of Future Amortization Expense

Future annual amortization expense on intangible assets is estimated to be as follows:


(In thousands)
Fiscal 2023	$	39,124
Fiscal 2024	$	34,691
Fiscal 2025	$	27,215
Fiscal 2026	$	21,787
Fiscal 2027	$	19,911

LEASES (Tables)

12 Months Ended

Apr. 02, 2022

Leases [Abstract]

Lease, Cost [Table Text Block]

The following table presents supplemental cash flow information related to our operating leases:


(In thousands)	April 2, 2022		April 3, 2021		March 28, 2020
Cash paid for amounts included in the measurement of operating lease liabilities
Operating cash flows used for operating leases	$	11,014	$	10,456	$	6,780
Right of use assets obtained in exchange for new operating lease liabilities	$	587	$	29,595	$	37,330

Assets and Liabilities Lessee [Table Text Block]

The following table presents supplemental balance sheet information related to the Company's operating leases:


(In thousands)	April 2, 2022		April 3, 2021
Assets
Operating lease right-of-use assets in Other long-term assets	$	52,749	$	59,856
Liabilities
Operating lease liabilities in Other current liabilities	$	7,196	$	7,708
Operating lease liabilities in Other long-term liabilities	$	55,704	$	62,960

Lessee, Operating Leases, Other Information [Table Text Block]

The following table presents the weighted average remaining lease term and discount rate information related to our operating leases:


	April 2, 2022		April 3, 2021
Weighted average remaining lease term	10.0 years		10.7 years
Weighted average discount rate	4.58	%	4.59	%

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

The following table presents the maturities of our operating lease liabilities as of April 2, 2022:


Fiscal Year (In thousands)	Operating Leases
2023	$	9,996
2024	7,982
2025	7,374
2026	6,995
2027	7,353
Thereafter	39,789
Total future minimum operating lease payments	79,489
Less: imputed interest	(16,589)
Present value of operating lease liabilities	$	62,900

NOTES PAYABLE AND LONG-TERM DEBT (Tables)

12 Months Ended

Apr. 02, 2022

Debt Disclosure [Abstract]

Schedule of Notes Payable and Long-Term Debt

Notes payable and long-term debt consisted of the following:


(In thousands)	April 2, 2022		April 3, 2021
Term loan, net of financing fees	$	284,052	$	301,019
Convertible notes	489,462		406,461
Other borrowings	75		128
Less current portion	(214,148)		(17,016)
Long-term debt	$	559,441	$	690,592

Schedule of Notes Payable and Long-Term Debt Maturities

The aggregate amount of debt maturing during the next five fiscal years are as follows:


Fiscal year (In thousands)
2023	$	214,375
2024	$	70,000
2025	$	—
2026	$	500,000
2027	$	—

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Apr. 02, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Accounts Receivable, Allowance for Credit Loss

The following is a rollforward of the allowance for credit losses:


	Twelve Months Ended
(In thousands)	April 2, 2022		April 3, 2021		March 28, 2020
Beginning balance	$	2,226	$	3,824	$	3,937
Credit (gain) loss	359		(991)		365
Write-offs	(110)		(607)		(478)
Ending balance	$	2,475	$	2,226	$	3,824

Schedule of Effect of Derivative Instruments Designated as Cash Flow Hedges and Those Not Designated as Hedging Instruments


Derivative Instruments	Amount of Gain Recognized in Accumulated Other Comprehensive Loss		Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings		Location in Consolidated Statements of Income and Comprehensive Income	Amount of (Loss) Gain Excluded from Effectiveness Testing		Location in Consolidated Statements of Income and Comprehensive Income
(In thousands)
Designated foreign currency hedge contracts, net of tax	$	2,750	$	2,401	Net revenues, COGS and SG&A	$	(865)	Interest and other expense, net
Non-designated foreign currency hedge contracts	—		—			$	1,382	Interest and other expense, net
Designated interest rate swaps, net of tax	$	3,035	$	(4,421)	Interest and other expense, net

Schedule of Fair Value of Derivative Instruments as They Appear in Consolidated Balance Sheets

The following tables present the fair value of the Company's derivative instruments as they appear in its consolidated balance sheets as of April 2, 2022 and April 3, 2021:


(In thousands)	Location in Balance Sheet	As of April 2, 2022		As of April 3, 2021
Derivative Assets:
Designated foreign currency hedge contracts	Other current assets	$	3,133	$	2,061
Non-designated foreign currency hedge contracts	Other current assets	99		104
		$	3,232	$	2,165
Derivative Liabilities:
Designated foreign currency hedge contracts	Other current liabilities	$	56	$	454
Non-designated foreign currency hedge contracts	Other current liabilities	25		349
Designated interest rate swaps	Other current liabilities	1,813		5,550
Designated interest rate swaps	Other long-term liabilities	—		4,301
		$	1,894	$	10,654

Schedule of Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis

Financial assets and financial liabilities measured at fair value on a recurring basis consist of the following as of April 2, 2022 and April 3, 2021.


	As of April 2, 2022
(In thousands)	Level 1		Level 2		Level 3		Total
Assets
Money market funds	$	97,425	$	—	$	—	$	97,425
Designated foreign currency hedge contracts	—		3,133		—		3,133
Non-designated foreign currency hedge contracts	—		99		—		99

	$	97,425	$	3,232	$	—	$	100,657
Liabilities
Designated foreign currency hedge contracts	$	—	$	56	$	—	$	56
Non-designated foreign currency hedge contracts	—		25		—		25
Designated interest rate swaps	—		1,813		—		1,813
Contingent consideration	—		—		33,675		33,675
	$	—	$	1,894	$	33,675	$	35,569

	As of April 3, 2021
	Level 1		Level 2		Level 3		Total
Assets
Money market funds	$	49,699	$	—	$	—	$	49,699
Designated foreign currency hedge contracts	—		2,061		—		2,061
Non-designated foreign currency hedge contracts	—		104		—		104

	$	49,699	$	2,165	$	—	$	51,864
Liabilities
Designated foreign currency hedge contracts	$	—	$	454	$	—	$	454
Non-designated foreign currency hedge contracts	—		349		—		349
Designated interest rate swaps	—		9,851		—		9,851
Contingent consideration	—		—		28,733		28,733
	$	—	$	10,654	$	28,733	$	39,387

The recurring level 3 fair value measurements of contingent consideration liabilities include the following significant unobservable inputs:

Fair Value at

Valuation

Unobservable

(In thousands)

April 2, 2022

Technique

Input

Range

Revenue-based payments

30,209

Discounted cash flow

Discount rate

2.2%

Projected fiscal year of payment

2023

Revenue-based payments

1,725

Discounted cash flow

Discount rate

8.5%

Projected fiscal year of payment

2023 - 2024

Regulatory-based payment

1,741

Discounted cash flow

Discount rate

4.9%

Probability of payment

0% - 100%

Projected fiscal year of payment

2024

A reconciliation of the change in the fair value of contingent consideration is included in the following table:


(In thousands)
Balance at April 3, 2021	$	28,733
Change in fair value	10,461
Payments	(5,158)
Currency translation	(361)
Balance at April 2, 2022	$	33,675

RETIREMENT PLANS (Tables)

12 Months Ended

Apr. 02, 2022

Retirement Benefits [Abstract]

Schedule of Components of Net Periodic Benefit Costs of Defined Benefit Pension Plans


(In thousands)	2022		2021		2020
Service cost	$	1,714	$	1,861	$	1,829
Interest cost on benefit obligation	242		279		301
Expected return on plan assets	(88)		(66)		(178)
Actuarial loss	189		119		129
Amortization of unrecognized prior service cost	(175)		(123)		(98)

Plan settlements	(184)		—		(239)
Totals	$	1,698	$	2,070	$	1,744

Schedule of Activity Under Defined Benefit Plans

The activity under those defined benefit plans are as follows:


(In thousands)	April 2, 2022		April 3, 2021
Change in Benefit Obligation:
Benefit Obligation, beginning of year	$	(31,891)	$	(28,370)
Service cost	(1,714)		(1,861)
Interest cost	(242)		(279)
Benefits paid	928		1,990
Actuarial gain (loss)	3,208		(1,249)
Employee and plan participants contribution	(2,093)		(1,084)
Plan settlements	1,367		525
Foreign currency changes	27		(1,563)
Benefit obligation, end of year	$	(30,410)	$	(31,891)
Change in Plan Assets:
Fair value of plan assets, beginning of year	$	16,142	$	15,287
Company contributions	1,432		1,224
Benefits paid	(719)		(1,822)
(Loss) gain on plan assets	(108)		219
Employee and plan participants contribution	2,077		1,064
Plan settlements	(1,356)		—
Foreign currency changes	(21)		170
Fair value of plan assets, end of year	$	17,447	$	16,142
Funded Status*	$	(12,963)	$	(15,749)
Unrecognized net actuarial (gain) loss	(236)		2,948
Unrecognized prior service cost	(1,099)		(1,248)
Net amount recognized	$	(14,298)	$	(14,049)
* Substantially all of the unfunded status is non-current

Schedule of Components of Change Recorded in Accumulated Other Comprehensive Income Related to Defined Benefit Plans, Net of Tax

The components of the change recorded in the Company's accumulated other comprehensive loss related to its defined benefit plans, net of tax, are as follows (in thousands):


Balance as of March 30, 2019	$	(527)

Actuarial gain	614
Prior service cost	(87)
Plan settlements	(209)
Balance as of March 28, 2020	$	(209)
Actuarial loss	(221)
Prior service cost	(130)
Plan settlements	—
Balance as of April 3, 2021	$	(560)
Actuarial gain	2,532
Prior service cost	(194)
Plan settlements	(159)
Balance as of April 2, 2022	$	1,619

Schedule of Weighted Average Rates Used to Determine Net Periodic Benefit Costs

The weighted average rates used to determine the net periodic benefit costs and projected benefit obligations were as follows:


	2022		2021		2020
Discount rate	1.38	%	0.58	%	0.82	%
Rate of increased salary levels	1.81	%	1.64	%	1.74	%
Expected long-term rate of return on assets	0.69	%	0.42	%	0.31	%

The weighted-average grant-date fair value of RSUs granted and total fair value of RSUs vested are as follows:


	2022		2021		2020
Grant-date fair value per RSU	$	56.96	$	102.19	$	102.32
Fair value of RSUs vested	$	79.60	$	66.87	$	54.58

The assumptions used in the Monte Carlo model for PSUs granted during each fiscal year were as follows:


	2022		2021		2020
Expected stock price volatility	49.23	%	36.79	%	28.64	%
Peer group stock price volatility	45.75	%	42.31	%	29.77	%
Correlation of returns	65.06	%	65.12	%	50.30	%

The weighted-average grant-date fair value of PSUs granted and total fair value of PSUs vested are as follows:


	2022		2021		2019
Grant-date fair value per PSU	$	72.52	$	123.92	$	146.93
Fair value of PSUs vested	$	—	$	47.43	$	34.78

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:


	2022		2021		2020
Volatility	55.6	%	49.8	%	34.7	%
Expected life (months)	6		6		6
Risk-free interest rate	0.1	%	0.1	%	2.0	%
Dividend Yield	0.0	%	0.0	%	0.0	%

Schedule of Estimated Future Benefit Payments

Estimated future benefit payments are as follows:


(In thousands)
Fiscal 2023	$	1,328
Fiscal 2024	1,426
Fiscal 2025	1,326
Fiscal 2026	1,429
Fiscal 2027	1,384
Fiscal 2028-2032	9,867

CAPITAL STOCK (Tables)

12 Months Ended

Apr. 02, 2022

Share-based Payment Arrangement [Abstract]

Schedule of Stock-Based Compensation Cost


(In thousands)	2022	2021	2020
Selling, general and administrative expenses	$20,694	$22,888	$18,022
Research and development	2,537	1,874	1,210
Cost of goods sold	1,128	754	1,222
	$24,359	$25,516	$20,454

Schedule of Summary of Stock Option Activity

A summary of stock option activity for the fiscal year ended April 2, 2022 is as follows:


	Options Outstanding	Weighted Average Exercise Price per Share		Weighted Average Remaining Life (years)	Aggregate Intrinsic Value ($000’s)
Outstanding at April 3, 2021	960,687	$	70.29	4.04	$	40,179
Granted	310,302	56.70
Exercised	(76,648)	38.24
Forfeited/Canceled	(137,703)	83.71
Outstanding at April 2, 2022	1,056,638	$	66.87	3.79	$	12,423

Exercisable at April 2, 2022	561,114	$	57.84	2.41	$	10,505

Vested or expected to vest at April 2, 2022	970,200	$	66.47	2.77	$	12,002

Schedule of Assumptions Utilized for Estimating Fair Value of Option Grants

The assumptions utilized for option grants during the periods presented are as follows:


	2022			2021			2020
Volatility	41.9		%	33.5		%	28.2		%
Expected life (years)	4.9			4.9			4.9
Risk-free interest rate	0.8		%	0.4		%	2.5		%
Dividend yield	0.0		%	0.0		%	0.0		%
Grant-date fair value per Option	$	20.97		$	30.53		$	28.25

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:


	2022		2021		2020
Discount rate	1.38	%	0.58	%	0.82	%
Rate of increased salary levels	1.81	%	1.64	%	1.74	%
Expected long-term rate of return on assets	0.69	%	0.42	%	0.31	%

The weighted-average grant-date fair value of RSUs granted and total fair value of RSUs vested are as follows:


	2022		2021		2020
Grant-date fair value per RSU	$	56.96	$	102.19	$	102.32
Fair value of RSUs vested	$	79.60	$	66.87	$	54.58

The assumptions used in the Monte Carlo model for PSUs granted during each fiscal year were as follows:


	2022		2021		2020
Expected stock price volatility	49.23	%	36.79	%	28.64	%
Peer group stock price volatility	45.75	%	42.31	%	29.77	%
Correlation of returns	65.06	%	65.12	%	50.30	%

The weighted-average grant-date fair value of PSUs granted and total fair value of PSUs vested are as follows:


	2022		2021		2019
Grant-date fair value per PSU	$	72.52	$	123.92	$	146.93
Fair value of PSUs vested	$	—	$	47.43	$	34.78

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:


	2022		2021		2020
Volatility	55.6	%	49.8	%	34.7	%
Expected life (months)	6		6		6
Risk-free interest rate	0.1	%	0.1	%	2.0	%
Dividend Yield	0.0	%	0.0	%	0.0	%

Schedule of Summary of Restricted Stock Units Activity

A summary of RSU activity for the fiscal year ended April 2, 2022 is as follows:


	Shares	Weighted Average Grant Date Fair Value
Unvested at April 3, 2021	248,463	$	91.25
Granted	316,985	56.96
Vested	(115,045)	79.60
Forfeited	(63,867)	74.96
Unvested at April 2, 2022	386,536	$	69.27

Schedule of Performance Share Unit awards

A summary of PSU activity for the fiscal year ended April 2, 2022 is as follows:


	Shares	Weighted Average Grant Date Fair Value
Unvested at April 3, 2021	240,891	$	129.24
Granted(1)	106,069	72.52
Vested	—	—
Forfeited	(64,014)	107.04
Unvested at April 2, 2022	282,946	$	102.17
(1) Includes the adjustment of 70,672 shares for awards granted in fiscal 2019, based on actual relative total shareholder return of 0%

SEGMENT AND ENTERPRISE-WIDE INFORMATION (Tables)

12 Months Ended

Apr. 02, 2022

Segment Reporting [Abstract]

Selected Information by Business Segment


(In thousands)	2022		2021		2020
Net revenues
Plasma	$	351,945	$	333,334	$	460,637
Blood Center	294,541		307,370		325,661
Hospital	321,580		210,606		194,604
Net revenues by business unit	968,066		851,310		980,902
Service (1)	20,811		20,758		19,830
Effect of exchange rates	4,319		(1,605)		(12,253)
Net revenues	$	993,196	$	870,463	$	988,479
(1) Reflects revenue for service, maintenance and parts.


(In thousands)	2022		2021		2020
Segment operating income
Plasma	$	183,131	$	172,463	$	225,351
Blood Center	136,691		141,962		159,802
Hospital	129,783		84,066		80,669
Segment operating income	449,605		398,491		465,822
Corporate expenses (1)	(281,476)		(256,751)		(255,727)
Effect of exchange rates	18,993		12,830		7,920
Deal amortization	(47,414)		(32,830)		(25,746)
Impairment of assets and PCS2 related charges	(5,732)		(25,696)		(75,750)
Integration and transaction costs	(21,604)		(18,421)		(568)
Restructuring and restructuring related costs	(28,824)		(15,661)		(19,878)
MDR and IVDR costs	(11,033)		(4,130)		(1,506)
Litigation-related charges	(1,368)		(897)		701
Gains on divestitures and sale of assets	9,603		32,812		8,083
Operating income	$	80,750	$	89,747	$	103,351
(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.


(In thousands)	2022		2021		2020
Depreciation and amortization
Plasma	$	28,314	$	24,093	$	63,347
Blood Center	32,489		39,672		38,429
Hospital	36,944		20,522		8,513
Total depreciation and amortization (excluding impairment charges)	$	97,747	$	84,287	$	110,289


(In thousands)	April 2, 2022		April 3, 2021
Long-lived assets(1)
Plasma	$	129,241	$	105,599
Blood Center	82,714		83,225
Hospital	46,527		28,735
Total long-lived assets	$	258,482	$	217,559
(1) Long-lived assets are comprised of property, plant and equipment.

Selected information by operating regions is presented below:


(In thousands)	April 2, 2022		April 3, 2021
Long-lived assets(1)
United States	$	200,927	$	159,749
Japan	1,096		1,515
Europe	11,989		10,384
Asia	28,132		30,588
Other	16,338		15,323
Total long-lived assets	$	258,482	$	217,559
(1) Long-lived assets are comprised of property, plant and equipment.


(In thousands)	2022		2021		2020
United States	$	639,322	$	522,607	$	646,204
Japan	75,562		77,676		72,218
Europe	163,520		159,077		153,347
Asia	110,802		105,820		109,295
Other	3,990		5,283		7,415
Net revenues	$	993,196	$	870,463	$	988,479

Schedule of Revenues by Product Line

Net revenues by product line are as follows:


(In thousands)	2022		2021		2020
Plasma products and services	427,611		414,266		537,231
Blood Center products and services	236,158		239,614		252,829
Hospital products and services	329,427		216,583		198,419
Net revenues	$	993,196	$	870,463	$	988,479

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

12 Months Ended

Apr. 02, 2022

Stockholders' Equity Note [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following is a roll-forward of the components of accumulated other comprehensive loss, net of tax, for the years ended April 2, 2022 and April 3, 2021:


(In thousands)	Foreign currency		Defined benefit plans		Net Unrealized Gain (Loss) on Derivatives		Total
Balance, March 28, 2020	$	(31,100)	$	(209)	$	(13,826)	$	(45,135)
Other comprehensive income (loss) before reclassifications	9,572		(379)		(489)		8,704
Amounts reclassified from accumulated other comprehensive gain(1)	—		28		6,856		6,884
Net current period other comprehensive income (loss)	9,572		(351)		6,367		15,588
Balance, April 3, 2021	$	(21,528)	$	(560)	$	(7,459)	$	(29,547)
Other comprehensive income (loss) before reclassifications	(6,391)		2,179		5,785		1,573
Amounts reclassified from accumulated other comprehensive gain(1)	—		—		2,020		2,020
Net current period other comprehensive income (loss)	(6,391)		2,179		7,805		3,593
Balance, April 2, 2022	$	(27,919)	$	1,619	$	346	$	(25,954)
(1) Presented net of income taxes, the amounts of which are insignificant.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020	Mar. 30, 2019
Summary of Significant Accounting Pronouncements [Line Items]
Optional exemption term	1 year
Cash and cash equivalents maximum maturity period	3 months
Intangible asset impairment	$ 600,000	$ 0	$ 0
Impairment charges related to the discontinuance of certain capitalized software projects	0	0	0
Other Liabilities
Forward contracts and interest rate swaps	1,894,000	6,353,000
Deferred revenue	31,826,000	26,272,000
Accrued taxes	10,227,000	19,226,000
Operating Lease, Liability, Current	7,196,000	7,708,000
Acquisition related liability	1,435,000	14,419,000
Contingent consideration	31,184,000	20,942,000
All other	33,764,000	39,235,000
Total	121,207,000	138,586,000
Advertising expense	4,400,000	2,700,000	4,300,000
Foreign currency losses	1,500,000	700,000	2,900,000
Right-of-use assets	52,749,000	59,856,000
Lease liabilities	62,900,000
Sales and Excise Tax Payable, Current	3,681,000	4,431,000
Stockholders' Equity Attributable to Parent	(749,424,000)	(731,670,000)	(587,109,000)	$ (667,868,000)
Deferred Income Tax Liabilities, Net	(28,727,000)	(43,825,000)
Additional Paid-in Capital
Other Liabilities
Stockholders' Equity Attributable to Parent	(572,476,000)	(602,727,000)	(553,229,000)	(536,320,000)
Retained Earnings
Other Liabilities
Stockholders' Equity Attributable to Parent	$ (202,391,000)	$ (157,981,000)	$ (78,512,000)	$ (161,418,000)
Minimum
Summary of Significant Accounting Pronouncements [Line Items]
Software capitalization term	5 years
Maximum
Summary of Significant Accounting Pronouncements [Line Items]
Software capitalization term	10 years
Building \| Minimum
Summary of Significant Accounting Pronouncements [Line Items]
Property, plant and equipment, useful life	30 years
Building \| Maximum
Summary of Significant Accounting Pronouncements [Line Items]
Property, plant and equipment, useful life	40 years
Building improvements \| Minimum
Summary of Significant Accounting Pronouncements [Line Items]
Property, plant and equipment, useful life	5 years
Building improvements \| Maximum
Summary of Significant Accounting Pronouncements [Line Items]
Property, plant and equipment, useful life	20 years
Plant equipment and machinery \| Minimum
Summary of Significant Accounting Pronouncements [Line Items]
Property, plant and equipment, useful life	3 years
Plant equipment and machinery \| Maximum
Summary of Significant Accounting Pronouncements [Line Items]
Property, plant and equipment, useful life	15 years
Office equipment and information technology \| Minimum
Summary of Significant Accounting Pronouncements [Line Items]
Property, plant and equipment, useful life	3 years
Office equipment and information technology \| Maximum
Summary of Significant Accounting Pronouncements [Line Items]
Property, plant and equipment, useful life	10 years
Haemonetics equipment \| Minimum
Summary of Significant Accounting Pronouncements [Line Items]
Property, plant and equipment, useful life	3 years
Haemonetics equipment \| Maximum
Summary of Significant Accounting Pronouncements [Line Items]
Property, plant and equipment, useful life	7 years
Net Revenues \| Customer Concentration Risk \| Ten Largest Customers
Other Liabilities
Concentration risk	45.00%	49.00%	54.00%
Net Revenues \| Customer Concentration Risk \| Two Plasma Customers, CSL Plasma Inc. (CSL) and Grifols S.A. (Grifols)
Other Liabilities
Concentration risk	12.00%
Accounts Receivable \| Customer Concentration Risk \| Two Plasma Customers, CSL Plasma Inc. (CSL) and Grifols S.A. (Grifols)
Other Liabilities
Concentration risk	14.00%
Accounting Standards Update 2020-06
Other Liabilities
Deferred Income Tax Liabilities, Net	$ 20,000,000
Convertible Notes Payable, Noncurrent	80,300,000
Accounting Standards Update 2020-06 \| Additional Paid-in Capital
Other Liabilities
Stockholders' Equity Attributable to Parent	61,200,000
Accounting Standards Update 2020-06 \| Retained Earnings
Other Liabilities
Stockholders' Equity Attributable to Parent	$ (1,000,000)

RESTRUCTURING (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020	Jul. 31, 2019	Mar. 30, 2019
Restructuring Cost and Reserve [Line Items]
Total restructuring and turnaround	$ 28,824	$ 15,661	$ 19,878
Restructuring and Related Cost, Cost Incurred to Date	55,700
Restructuring liability	2,805	1,012	2,648		$ 7,479
Restructuring charges in next twelve months	2,500
Turnaround costs	24,594	14,217	16,287
2020 Program
Restructuring Cost and Reserve [Line Items]
Restructuring liability	2,460	575	1,136		$ 0
Restructuring costs	$ 28,700	$ 15,100	$ 11,900
Minimum \| 2020 Program
Restructuring Cost and Reserve [Line Items]
Expected cost				$ 95,000
Maximum \| 2020 Program
Restructuring Cost and Reserve [Line Items]
Expected cost				$ 105,000

RESTRUCTURING (Schedule of Restructuring Reserve by Type of Cost) (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020
Restructuring Reserve [Roll Forward]
Beginning Balance	$ 1,012	$ 2,648	$ 7,479
Cost Incurred	4,230	1,444	3,591
Payments	(2,437)	(3,080)	(8,275)
Non-cash adjustments			(147)
Ending Balance	2,805	1,012	2,648
Turnaround costs	24,594	14,217	16,287
Total restructuring and turnaround	28,824	15,661	19,878
Plasma products and services
Restructuring Reserve [Roll Forward]
Cost Incurred	2,492	454	544
Turnaround costs	7,906	1,870	820
Blood Center products and services
Restructuring Reserve [Roll Forward]
Cost Incurred	(18)	201	(5)
Turnaround costs	556	1,599	320
Hospital products and services
Restructuring Reserve [Roll Forward]
Cost Incurred	(93)	322	845
Turnaround costs	379	14	0
All Other
Restructuring Reserve [Roll Forward]
Cost Incurred	1,849	467	2,207
Turnaround costs	15,753	10,734	15,147
2020 Program
Restructuring Reserve [Roll Forward]
Beginning Balance	575	1,136	0
Cost Incurred	4,202	1,501	2,234
Payments	(2,317)	(2,062)	(1,098)
Non-cash adjustments			0
Ending Balance	2,460	575	1,136
Prior Programs
Restructuring Reserve [Roll Forward]
Beginning Balance	437	1,512	7,479
Cost Incurred	28	(57)	1,357
Payments	(120)	(1,018)	(7,177)
Non-cash adjustments			(147)
Ending Balance	345	437	1,512
Cost of Goods Sold
Restructuring Reserve [Roll Forward]
Cost Incurred	2,236	390	1,082
Turnaround costs	17,832	9,318	2,227
Research and development
Restructuring Reserve [Roll Forward]
Cost Incurred	105	142	532
Turnaround costs	714	1,026	354
Selling, general and administrative expenses
Restructuring Reserve [Roll Forward]
Cost Incurred	1,889	912	1,977
Turnaround costs	$ 6,048	$ 3,873	$ 13,706

ACQUISITIONS (Details) - USD ($) $ in Thousands			2 Months Ended	3 Months Ended	12 Months Ended
ACQUISITIONS (Details) - USD ($) $ in Thousands	Mar. 01, 2021	Apr. 01, 2020	Mar. 31, 2021	Jan. 01, 2022	Apr. 02, 2022	Apr. 03, 2021	Jan. 13, 2021	Mar. 28, 2020
Business Acquisition [Line Items]
Goodwill					$ 467,287	$ 466,444		$ 210,652
HAS Intellectual Property
Business Acquisition [Line Items]
Asset Acquisition, Milestone Payment				$ 2,500
AssetAcquisitionUpfrontPayment							$ 15,000
Cardiva Medical, Inc.
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	100.00%
Business Combination, Consideration Transferred	$ 489,800
Payments to Acquire Businesses, Gross	465,500
Business Combination, Contingent Consideration, Liability	24,300
Term loan borrowings	150,000
Goodwill					253,707
Deferred tax liability					26,793
Business Combination, Acquisition Related Costs					6,600
Business Acquisition, Pro Forma Revenue			$ 7,700		916,601	1,024,235
Business Acquisition, Pro Forma Net Income (Loss)			$ 7,600		53,884	19,191
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	35,000
Payments to Acquire Businesses, Net of Cash Acquired	$ 418,200
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed						$ 9,600
Cardiva Medical, Inc. \| Selling, general and administrative expenses
Business Acquisition [Line Items]
Business Combination, Acquisition Related Costs					3,000
Enicor
Business Acquisition [Line Items]
Business Combination, Consideration Transferred		$ 20,500
Payments to Acquire Businesses, Gross		16,600
Business Combination, Contingent Consideration, Liability		3,900
Goodwill		8,153
Deferred tax liability		3,036
Business Combination, Acquisition Related Costs					$ 200
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High		$ 4,500
Risk-Adjusted Discount Rates used in Purchase Price Allocation		20.00%

ACQUISITIONS - Purchase Price Allocation (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Apr. 03, 2021	Apr. 01, 2020	Mar. 28, 2020
Business Acquisition [Line Items]
Goodwill	$ 467,287	$ 466,444		$ 210,652
Cardiva Medical, Inc.
Business Acquisition [Line Items]
Accounts receivable	7,304
Inventories	18,765
Prepaid expenses and other current assets	850
Property, plant and equipment	1,186
Intangible assets	250,560
Goodwill	253,707
Other long-term assets	1,868
Total assets acquired	534,240
Accounts payable	3,292
Accrued payroll and related costs	58,211
Other liabilities	1,903
Deferred tax liability	26,793
Other long-term liabilities	1,772
Total liabilities assumed	91,971
Net assets acquired	$ 442,269
Enicor
Business Acquisition [Line Items]
Inventories			$ 634
Other current assets			685
Property, plant and equipment			289
Intangible assets			14,090
Goodwill			8,153
Total assets acquired			23,851
Other liabilities			289
Deferred tax liability			3,036
Total liabilities assumed			3,325
Net assets acquired			$ 20,526

ACQUISITIONS - Intangible Assets Acquired (Details) - USD ($) $ in Thousands	Jan. 17, 2021	Apr. 01, 2020
Cardiva Medical, Inc.
Business Acquisition [Line Items]
Intangible assets acquired	$ 250,560
Cardiva Medical, Inc. \| In-process research and development
Business Acquisition [Line Items]
Indefinite lived intangibles acquired	$ 13,667
Risk-Adjusted Discount Rates used in Purchase Price Allocation	15.00%
Cardiva Medical, Inc. \| Technology-Based Intangible Assets
Business Acquisition [Line Items]
Intangible assets acquired	$ 213,290
Weighted-Average Amortization Period	13 years
Risk-Adjusted Discount Rates used in Purchase Price Allocation	13.50%
Cardiva Medical, Inc. \| Customer Relationships
Business Acquisition [Line Items]
Intangible assets acquired	$ 18,166
Weighted-Average Amortization Period	12 years
Risk-Adjusted Discount Rates used in Purchase Price Allocation	13.00%
Cardiva Medical, Inc. \| Trademarks
Business Acquisition [Line Items]
Intangible assets acquired	$ 5,437
Weighted-Average Amortization Period	13 years
Risk-Adjusted Discount Rates used in Purchase Price Allocation	13.50%
Enicor
Business Acquisition [Line Items]
Intangible assets acquired	$ 14,090
Risk-Adjusted Discount Rates used in Purchase Price Allocation		20.00%
Enicor \| Technology-Based Intangible Assets
Business Acquisition [Line Items]
Intangible assets acquired	$ 13,441
Weighted-Average Amortization Period	10 years
Risk-Adjusted Discount Rates used in Purchase Price Allocation	20.00%
Enicor \| Customer Relationships
Business Acquisition [Line Items]
Intangible assets acquired	$ 347
Weighted-Average Amortization Period	10 years
Risk-Adjusted Discount Rates used in Purchase Price Allocation	20.00%
Enicor \| Trademarks
Business Acquisition [Line Items]
Intangible assets acquired	$ 302
Weighted-Average Amortization Period	10 years
Risk-Adjusted Discount Rates used in Purchase Price Allocation	20.00%

DIVESTITURE (Details) - USD ($) $ in Thousands					3 Months Ended		12 Months Ended
DIVESTITURE (Details) - USD ($) $ in Thousands	Sep. 18, 2020	Jul. 01, 2020	Jun. 29, 2020	May 21, 2019	Oct. 02, 2021	Jun. 29, 2019	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture							$ 10,642	$ 44,587	$ 9,808
Impairment of assets							7,953	21,969	50,599
Goodwill							467,287	$ 466,444	$ 210,652
Gain (Loss) on Disposition of Business							$ 9,600
Fajardo, Puerto Rico Manufacturing Operations \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture			$ 15,100
Proceeds from Divestiture of Businesses, Net of Cash Divested			7,800
Impairment of assets			1,000
Disposal Group, Not Discontinued Operations, Incremental Loss On Closing Adjustments					$ 400
Disposal Group, Not Discontinued Operations, Expected Cost To Sell			1,500
Disposal Group, Including Discontinued Operation, Inventory			3,300
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment			7,200
Disposal Group, Including Discontinued Operation, Other Liabilities			3,200
Goodwill			$ 400
U.S. Blood Donor Management Software \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture		$ 14,000
Disposal Group, Including Discontinued Operation, Other Liabilities		1,800
Goodwill		1,400
Proceeds From Divesture Of Business Net Of Working Capital Adjustments		13,600
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net		1,400
Disposal Group, Including Discontinued Operation, Intangible Assets		900
Gain (Loss) on Disposition of Business		$ 13,200
Inlog Holdings France \| Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture	$ 30,500
Proceeds from Divestiture of Businesses, Net of Cash Divested	24,500
Goodwill	3,300
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net	2,200
Disposal Group, Including Discontinued Operation, Intangible Assets	2,200
Gain (Loss) on Disposition of Business					$ 20,000
Disposal Group, Including Discontinued Operation, Other Assets	300
Disposal Group, Including Discontinued Operation, Liabilities	$ 3,300
Asset Transfer
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment of assets						$ 48,700
Proceeds from sale of assets				$ 9,800

INCOME TAXES (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES (Narrative) (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020	Jan. 17, 2021	Mar. 30, 2019
Income Taxes [Line Items]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	$ 3,000
Foregin source income	68,848	$ 67,387	$ 81,808
Valuation allowance	(254)	3,144	(2,939)
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount	1,496	1,230	$ 2,085
Unremitted earnings	1,254	1,060
Tax credit carry-forward, net	$ 6,452	$ 5,073
Income tax provision	31.80%	(9.00%)	12.20%
Net foreign withholding taxes	$ 1,300
Unremitted earnings which are not indefinitely reinvested	150,500
Undistributed foreign earnings of subsidiaries	$ 125,200
U.S. federal statutory income tax rate	21.00%	21.00%	21.00%
Unremitted earnings	$ 194	$ 257	$ 40
Provision (benefit) for income taxes	20,254	(6,556)	10,626
Unrecognized tax benefits	3,939	6,107	4,620		$ 4,657
Unrecognized tax benefits that will impact effective tax rate	3,100	5,300	4,000
Unrecognized tax positions possible change in the next twelve months	200
Unrecognized tax benefits increases	219	335	180
Accrued interest and penalties	100	1,400
Income Tax Examination, Penalties and Interest Included in Income Tax Expense	100	$ 900	$ 300
Domestic Tax Authority
Income Taxes [Line Items]
Operating loss carry-forwards	99,200
Operating loss carry-forwards subject to expiration	8,200
Operating loss carry-forwards not subject to expiration	91,000
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount	1,300
Domestic Tax Authority \| Cardiva Medical, Inc.
Income Taxes [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net Operating Carryforwards				$ 150,900
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Tax Credit, Research				200
State and Local Jurisdiction
Income Taxes [Line Items]
Operating loss carry-forwards	107,200
Operating loss carry-forwards subject to expiration	85,700
Operating loss carry-forwards not subject to expiration	21,500
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount	6,200
State and Local Jurisdiction \| Cardiva Medical, Inc.
Income Taxes [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net Operating Carryforwards				93,300
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Tax Credit, Research				$ 400
Foreign Tax Authority
Income Taxes [Line Items]
Operating loss carry-forwards	12,100
Operating loss carry-forwards subject to expiration	6,900
Operating loss carry-forwards not subject to expiration	$ 5,200
Malaysia
Income Taxes [Line Items]
Tax grant or holiday term	10 years

INCOME TAXES (Schedule Domestic and Foreign Income Before Provision for Income Tax) (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020
Income Tax Disclosure [Abstract]
Domestic	$ (5,219)	$ 5,526	$ 5,344
Foreign	68,848	67,387	81,808
Income before provision (benefit) for income taxes	$ 63,629	$ 72,913	$ 87,152

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

INCOME TAXES (Schedule of Income Tax Provision Components) (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020
Current
Federal	$ 3,586	$ (289)	$ 3,834
State	1,682	1,256	1,054
Foreign	9,940	13,319	12,467
Total current	15,208	14,286	17,355
Deferred
Federal	3,455	(12,906)	(8,257)
State	310	(2,436)	280
Foreign	1,281	(5,500)	1,248
Total deferred	5,046	(20,842)	(6,729)
Total	$ 20,254	$ (6,556)	$ 10,626

INCOME TAXES (Schedule of Net Deferred Tax Asset) (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Apr. 03, 2021
Income Tax Disclosure [Abstract]
Depreciation	$ 623	$ 1,054
Amortization of intangibles	1,243	1,167
Inventory	6,841	5,166
Accruals, reserves and other deferred tax assets	13,020	17,274
Net operating loss carry-forward	30,212	38,827
Stock based compensation	4,422	4,374
Operating lease liabilities	15,777	16,941
Tax credit carry-forward, net	6,452	5,073
Deferred Tax Assets, Research Expenses Capitalized	6,733	4,291
Gross deferred tax assets	85,323	94,167
Total deferred tax liabilities	(14,077)	(11,081)
Total deferred tax assets (after valuation allowance)	71,246	83,086
Depreciation	(15,727)	(10,470)
Amortization of goodwill and intangibles	(63,004)	(68,802)
Unremitted earnings	(1,254)	(1,060)
Operating lease assets	(12,877)	(14,722)
Debt discount	0	(19,868)
Other deferred tax liabilities	(2,643)	(5,980)
Other deferred tax liabilities	(95,505)	(120,902)
Net deferred tax liabilities	$ (24,259)	$ (37,816)

INCOME TAXES (Schedule of Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020
Income Tax Disclosure [Abstract]
Tax at federal statutory rate	$ 13,362	$ 15,312	$ 18,302
Tax at federal statutory rate	21.00%	21.00%	21.00%
Difference between U.S. and foreign tax	$ (3,799)	$ (7,049)	$ (6,688)
Difference between U.S. and foreign tax	(6.00%)	(9.70%)	(7.70%)
State income taxes net of federal benefit	$ 1,384	$ (924)	$ (342)
State income taxes net of federal benefit	2.20%	(1.30%)	(0.40%)
Global intangible low taxed income	$ 3,608	$ (758)	$ 5,431
Global intangible low taxed income	5.70%	(1.00%)	6.20%
Change in uncertain tax positions	$ (777)	$ 1,172	$ 785
Change in uncertain tax positions	(1.20%)	1.60%	0.90%
Unremitted earnings	$ 194	$ 257	$ 40
Unremitted earnings	0.30%	0.40%	0.00%
Deferred statutory rate changes	$ 40	$ (243)	$ 1,091
Deferred statutory rate changes	0.10%	(0.30%)	1.30%
Non-deductible executive compensation	$ 1,080	$ 2,238	$ 2,423
Stock compensation benefits	$ 2,070	$ (5,504)	$ (12,133)
Stock compensation benefits	3.30%	(7.50%)	(13.90%)
Non-deductible executive compensation	1.70%	3.10%	2.80%
Non-deductible expenses	$ 741	$ 2,038	$ 1,050
Non-deductible expenses	1.20%	2.80%	1.20%
Research credits	$ (1,496)	$ (1,230)	$ (2,085)
Research credits	(2.40%)	(1.70%)	(2.40%)
Contingent consideration	$ 1,880	$ 0	$ 0
Contingent consideration	3.00%	0.00%	0.00%
Intercompany sale of intellectual property	$ 0	$ (7,550)	$ 0
Intercompany sale of intellectual property	0.00%	(10.40%)	0.00%
Valuation allowance	$ 254	$ (3,144)	$ 2,939
Valuation allowance	0.20%	(4.40%)	3.40%
Other, net	$ 1,713	$ (1,171)	$ (187)
Other, net	2.70%	(1.60%)	(0.20%)
Total	$ 20,254	$ (6,556)	$ 10,626
Income tax (benefit) provision	31.80%	(9.00%)	12.20%

INCOME TAXES (Summary of Gross Unrecognized Tax Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning Balance	$ 6,107	$ 4,620	$ 4,657
Additions for tax positions of current year	219	335	180
Additions for tax positions of prior years	0	1,194	880
Reductions of tax positions	(808)	(42)	(539)
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities	1,579	0	558
Closure of statute of limitations	0	0	0
Ending Balance	$ 3,939	$ 6,107	$ 4,620

EARNINGS PER SHARE (Schedule of Earnings Per Share Reconciliation) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020
Basic EPS
Net income	$ 43,375	$ 79,469	$ 76,526
Basic weighted average shares (in shares)	51,047	50,688	50,692
Basic income per share (in dollars per share)	$ 0.85	$ 1.57	$ 1.51
Diluted EPS
Net income	$ 43,375	$ 79,469	$ 76,526
Basic weighted average shares (in shares)	51,047	50,688	50,692
Net effect of common stock equivalents (in shares)	306	604	1,123
Diluted weighted average shares (in shares)	51,353	51,292	51,815
Diluted income per share (in dollars per share)	$ 0.84	$ 1.55	$ 1.48
Anti-dilutive shares (in shares)	900	500	200

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 65
-Paragraph 1
-Subparagraph (e)(4)
-URI http://asc.fasb.org/extlink&oid=123482062&loc=SL123482106-238011

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

EARNINGS PER SHARE (Share Repurchase Plan) (Details) $ in Millions	May 22, 2019 USD ($)
Share Repurchase Program
Accelerated Share Repurchases [Line Items]
Stock Repurchase Program, Authorized Amount	$ 500

REVENUE (Details) - USD ($) $ in Millions	12 Months Ended
REVENUE (Details) - USD ($) $ in Millions	Apr. 02, 2022	Apr. 03, 2021
Revenue from Contract with Customer [Abstract]
Performance obligation amount	$ 16.9
Optional exemption term	1 year
Performance obligation percent	73.00%
Contract assets	$ 5.5	$ 4.8
Contract liabilities	26.8	$ 20.9
Revenue recognized	$ 19.0

REVENUE Performance Obligations (Details)	Apr. 02, 2022
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-03
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Timing of satisifaction	12 months

INVENTORIES (Schedule of Inventories) (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Apr. 03, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 88,886	$ 74,910
Work-in-process	17,187	23,111
Finished goods	186,954	224,593
Total inventories	$ 293,027	$ 322,614

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020
Property, Plant and Equipment [Line Items]
Total	$ 869,147	$ 817,258
Less: accumulated depreciation and amortization	(610,665)	(599,699)
Property, plant and equipment, net	258,482	217,559
Depreciation expense	44,400	43,100	$ 76,600
Impairment charges	50,600		48,700
Real Estate Held-for-sale		7,800
Proceeds from Sale of Real Estate		15,000
Gains (Losses) on Sales of Other Real Estate		8,100
Sale Of Real Estate, Noncash Consideration		900
Sale and Leaseback Transaction, Gain (Loss), Net		5,600
Asset Impairments
Property, Plant and Equipment [Line Items]
Impairment charges	2,800	20,900
Asset Impairments \| 2020 Program
Property, Plant and Equipment [Line Items]
Impairment charges	5,200
Movement of Headquarters
Property, Plant and Equipment [Line Items]
Impairment charges	1,900
Land
Property, Plant and Equipment [Line Items]
Total	5,165	5,116
Building and building improvements
Property, Plant and Equipment [Line Items]
Total	104,546	107,322
Plant equipment and machinery
Property, Plant and Equipment [Line Items]
Total	233,564	216,751
Office equipment and information technology
Property, Plant and Equipment [Line Items]
Total	120,119	115,810
Haemonetics equipment
Property, Plant and Equipment [Line Items]
Total	$ 405,753	$ 372,259
Other Machinery and Equipment
Property, Plant and Equipment [Line Items]
Depreciation expense			$ 18,100

GOODWILL AND INTANGIBLE ASSETS Narrative (Details) - USD ($)	12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020
Finite-Lived Intangible Assets [Line Items]
Aggregate amortization expense	$ 56,600,000	$ 41,200,000	$ 34,200,000
Intangible asset impairment	600,000	0	0
Software development costs capitalized	3,400,000	4,200,000
Total costs capitalized related to in process software development initiatives	79,000,000	75,600,000
Capitalized costs amortized (placed into service)	$ 8,400,000	7,800,000	$ 8,200,000
Minimum
Finite-Lived Intangible Assets [Line Items]
Weighted average useful life	5 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Weighted average useful life	15 years
Software Development
Finite-Lived Intangible Assets [Line Items]
Total costs capitalized related to in process software development initiatives	$ 5,000,000	$ 4,000,000

GOODWILL AND INTANGIBLE ASSETS Schedule of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021
Goodwill [Roll Forward]
Goodwill, carrying amount	$ 466,444	$ 210,652
Divestitures		(5,034)
Acquisitions		259,788
Currency translation	(1,227)	1,038
Purchase accounting adjustments	2,070
Goodwill, carrying amount	467,287	466,444
Plasma products and services
Goodwill [Roll Forward]
Goodwill, carrying amount	29,043	28,979
Divestitures		0
Acquisitions		0
Currency translation	0	64
Purchase accounting adjustments	0
Goodwill, carrying amount	29,043	29,043
Blood Center products and services
Goodwill [Roll Forward]
Goodwill, carrying amount	34,528	36,632
Divestitures		(2,181)
Acquisitions		0
Currency translation	(362)	77
Purchase accounting adjustments	0
Goodwill, carrying amount	34,166	34,528
Hospital products and services
Goodwill [Roll Forward]
Goodwill, carrying amount	402,873	145,041
Divestitures		(2,853)
Acquisitions		259,788
Currency translation	(865)	897
Purchase accounting adjustments	2,070
Goodwill, carrying amount	$ 404,078	$ 402,873

GOODWILL AND INTANGIBLE ASSETS Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020
Amortizable:
Gross Carrying Amount	$ 667,603	$ 677,440
Accumulated Amortization	376,552	320,640
Net	291,051	356,800
Non-amortizable intangibles	19,210	8,683
Fiscal 2023	39,124
Fiscal 2024	34,691
Fiscal 2025	27,215
Fiscal 2026	21,787
Fiscal 2027	19,911
Amortization of intangible assets	56,600	41,200	$ 34,200
In-process software development
Amortizable:
Non-amortizable intangibles	2,648	4,007
In-process research and development
Amortizable:
Non-amortizable intangibles	13,667
In-process patents
Amortizable:
Non-amortizable intangibles	2,895	4,676
Patents
Amortizable:
Gross Carrying Amount	14,777	10,482
Accumulated Amortization	9,821	8,897
Net	4,956	1,585
Capitalized software
Amortizable:
Gross Carrying Amount	76,360	71,575
Accumulated Amortization	52,249	43,858
Net	24,111	27,717
Other developed technology
Amortizable:
Gross Carrying Amount	362,783	381,166
Accumulated Amortization	124,799	95,518
Net	237,984	285,648
Customer contracts and related relationships
Amortizable:
Gross Carrying Amount	204,166	204,701
Accumulated Amortization	185,150	168,446
Net	19,016	36,255
Trade names
Amortizable:
Gross Carrying Amount	9,517	9,516
Accumulated Amortization	4,533	3,921
Net	$ 4,984	$ 5,595

LEASES (Details) - USD ($) $ in Thousands	12 Months Ended
LEASES (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020	Jan. 01, 2022
Lessee, Lease, Description [Line Items]
Operating Lease, Payments	$ 11,014	$ 10,456	$ 6,780
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability	$ 587	$ 29,595	37,330
Operating Lease, Weighted Average Remaining Lease Term	10 years	10 years 8 months 12 days
Lessee, Operating Lease, Renewal Term	10 years
Right-of-use assets	$ 52,749	$ 59,856
Lease liabilities	62,900
Property, plant and equipment, net	258,482	217,559
Operating Lease, Liability, Current	7,196	7,708
Operating Lease, Liability, Noncurrent	$ 55,704	$ 62,960
Operating Lease, Weighted Average Discount Rate, Percent	4.58%	4.59%
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months	$ 9,996
Lessee, Operating Lease, Liability, Payments, Due Year Two	7,982
Lessee, Operating Lease, Liability, Payments, Due Year Three	7,374
Lessee, Operating Lease, Liability, Payments, Due Year Four	6,995
Lessee, Operating Lease, Liability, Payments, Due Year Five	7,353
Lessee, Operating Lease, Liability, Payments, Due after Year Five	39,789
Lessee, Operating Lease, Liability, Payments, Due	79,489
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	(16,589)
Operating Lease, Cost	$ 11,000	$ 11,700	$ 8,300
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other current liabilities	Other current liabilities
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other long-term liabilities	Other long-term liabilities
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other long-term assets	Other long-term assets
Operating lease revenue as a percentage of net sales (as a percent)	3.00%
Manufacturing Space
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract		15 years 6 months 30 days
Lessee, Operating Lease, Renewal Term	5 years
Right-of-use assets		$ 11,300
Lease liabilities		$ 15,400
Property, plant and equipment, net				$ 4,100
Manufacturing Space, Second Renewal Term
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Renewal Term	4 years
Minimum
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lessee, Operating Lease, Term of Contract	30 years

NOTES PAYABLE AND LONG-TERM DEBT (Schedule of Notes Payable and Long-Term Debt) (Details) - USD ($) $ in Thousands	Apr. 02, 2022	Apr. 03, 2021
Debt Instrument [Line Items]
Less current portion	$ (214,148)	$ (17,016)
Long term debt	559,441	690,592
Term loan, net of financing fees
Debt Instrument [Line Items]
Debt outstanding	284,052	301,019
Bank loans and other borrowings
Debt Instrument [Line Items]
Debt outstanding	75	128
Convertible notes
Debt Instrument [Line Items]
Debt outstanding	$ 489,462	$ 406,461

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

NOTES PAYABLE AND LONG-TERM DEBT (Narrative) (Details) - USD ($) $ / shares in Units, shares in Thousands		1 Months Ended	12 Months Ended
	Jun. 15, 2018	Mar. 31, 2021	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020
Debt Instrument [Line Items]
Proceeds from issuance of convertible notes			$ 0	$ 500,000,000	$ 0
Interest expense			$ 5,800,000	9,400,000	$ 13,500,000
Debt Instrument, Convertible, Capped Call Transaction, Initial Strike Price		$ 175.34
Debt Instrument, Convertible, Capped Call Transaction, Initial Cap Price		$ 250.48
Debt Instrument, Convertible, Capped Call Transaction, Anti-Dilution Adjustment, Shares		2,850
Debt Instrument, Convertible, Capped Call Transaction, Amount		$ 47,400,000
Convertible notes
Debt Instrument [Line Items]
Face amount of debt		$ 500,000,000
Debt Instrument, Interest Rate, Stated Percentage		0.00%
Proceeds from issuance of convertible notes		$ 486,700,000
Debt Instrument, Redemption Price, Percentage		130.00%
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed		98.00%
Debt Instrument, Redemption Price, Percentage of Previous Closing Price		10.00%
Debt Instrument, Convertible, Conversion Price		5.7033
Debt Instrument, Convertible, Conversion Price		$ 175.34
Effective interest rate			0.50%
Debt discount			$ (10,500,000)
Interest expense			2,700,000
Debt outstanding			$ 489,462,000	406,461,000
Convertible notes \| Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage		130.00%
Convertible notes \| Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage		100.00%
Term Loan
Debt Instrument [Line Items]
Face amount of debt	$ 350,000,000
Effective interest rate			2.30%
Debt outstanding			$ 284,400,000
Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity			23,000,000
Debt outstanding			0
Term Loan
Debt Instrument [Line Items]
Debt discount			$ (300,000)
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 350,000,000
Consolidated total leverage ratio			3.5
Consolidated interest coverage ratio			4.0
Commitment fee			0.275%
Debt Instrument, Covenant, Consolidated Leverage Ratio, Adjustment			4.25
Revolving Credit Facility \| Minimum
Debt Instrument [Line Items]
Commitment fee			0.15%
Revolving Credit Facility \| Maximum
Debt Instrument [Line Items]
Commitment fee			0.275%
Revolving Credit Facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.13%
Revolving Credit Facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
Term loan, net of financing fees
Debt Instrument [Line Items]
Debt outstanding			$ 284,052,000	$ 301,019,000

NOTES PAYABLE AND LONG-TERM DEBT (Schedule of Notes Payable and Long-Term Debt Maturities) (Details) $ in Thousands	Apr. 02, 2022 USD ($)
Debt Disclosure [Abstract]
2020	$ 214,375
2021	70,000
2022	0
2023	500,000
2024	$ 0

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Allowance for credit losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 2,226	$ 3,824	$ 3,937
Credit (gain) loss	359	(991)	365
Write-offs	(110)	(607)	(478)
Ending balance	$ 2,475	$ 2,226	$ 3,824

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Schedule of Effect of Derivative Instruments Designated as Cash Flow Hedges and Those Not Designated as Hedging Instruments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gain (loss) on cash flow hedges, net of tax	$ 5,785	$ (489)	$ (10,111)
Designated as Hedging Instrument \| Cash Flow Hedging \| Net revenues, COGS and SG&A
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gain (loss) on cash flow hedges, net of tax	2,750
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings	2,401
Designated as Hedging Instrument \| Cash Flow Hedging \| Interest and other expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain Excluded from Effectiveness Testing	(865)
Designated as Hedging Instrument \| Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain Excluded from Effectiveness Testing
Designated as Hedging Instrument \| Interest Rate Swap \| Net revenues, COGS and SG&A
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gain (loss) on cash flow hedges, net of tax	7,500
Designated as Hedging Instrument \| Interest Rate Swap \| Interest and other expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gain (loss) on cash flow hedges, net of tax	3,035
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings	(4,421)
Not Designated as Hedging Instrument \| Foreign Exchange Contract
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gain (loss) on cash flow hedges, net of tax	0
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings	0
Not Designated as Hedging Instrument \| Foreign Exchange Contract \| Interest and other expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain Excluded from Effectiveness Testing	$ 1,382

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Schedules of Derivatives) (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Apr. 02, 2022	Apr. 03, 2021
Assets
Money market funds	$ 97,425	$ 49,699
Assets fair value	100,657	51,864
Liabilities
Liabilities fair value	35,569	39,387
Level 1
Assets
Money market funds	97,425	49,699
Assets fair value	97,425	49,699
Liabilities
Liabilities fair value	0	0
Level 2
Assets
Money market funds	0	0
Assets fair value	3,232	2,165
Liabilities
Liabilities fair value	1,894	10,654
Fair Value, Inputs, Level 3
Liabilities
Liabilities fair value	33,675	28,733
Designated as Hedging Instrument
Assets
Derivative Assets	3,232	2,165
Liabilities
Derivative Liabilities	1,894	10,654
Foreign Exchange Contract \| Designated as Hedging Instrument
Assets
Derivative Assets	3,133	2,061
Liabilities
Derivative Liabilities	56	454
Foreign Exchange Contract \| Designated as Hedging Instrument \| Level 1
Assets
Derivative Assets	0	0
Liabilities
Derivative Liabilities	0	0
Foreign Exchange Contract \| Designated as Hedging Instrument \| Level 2
Assets
Derivative Assets		2,061
Liabilities
Derivative Liabilities		454
Foreign Exchange Contract \| Not Designated as Hedging Instrument
Assets
Derivative Assets	99	104
Liabilities
Derivative Liabilities	25	349
Foreign Exchange Contract \| Not Designated as Hedging Instrument \| Level 1
Assets
Derivative Assets	0	0
Liabilities
Derivative Liabilities	0	0
Foreign Exchange Contract \| Not Designated as Hedging Instrument \| Level 2
Assets
Derivative Assets		104
Foreign Exchange Contract \| Other Current Assets \| Designated as Hedging Instrument
Assets
Derivative Assets		2,061
Foreign Exchange Contract \| Other Current Assets \| Designated as Hedging Instrument \| Level 2
Assets
Derivative Assets	3,133
Foreign Exchange Contract \| Other Current Assets \| Not Designated as Hedging Instrument
Assets
Derivative Assets		104
Foreign Exchange Contract \| Other Current Assets \| Not Designated as Hedging Instrument \| Level 2
Assets
Derivative Assets	99
Foreign Exchange Contract \| Other Current Liabilities \| Designated as Hedging Instrument
Liabilities
Derivative Liabilities		454
Foreign Exchange Contract \| Other Current Liabilities \| Designated as Hedging Instrument \| Level 2
Liabilities
Derivative Liabilities	56
Foreign Exchange Contract \| Other Current Liabilities \| Not Designated as Hedging Instrument
Liabilities
Derivative Liabilities		349
Foreign Exchange Contract \| Other Current Liabilities \| Not Designated as Hedging Instrument \| Level 2
Liabilities
Derivative Liabilities	25	349
Interest Rate Swap \| Designated as Hedging Instrument
Liabilities
Derivative Liabilities	1,813	9,851
Interest Rate Swap \| Designated as Hedging Instrument \| Level 1
Liabilities
Derivative Liabilities	0	0
Interest Rate Swap \| Designated as Hedging Instrument \| Level 2
Liabilities
Derivative Liabilities	1,813	9,851
Interest Rate Swap \| Other Current Liabilities \| Designated as Hedging Instrument
Liabilities
Derivative Liabilities		5,550
Interest Rate Swap \| Other Current Liabilities \| Designated as Hedging Instrument \| Level 2
Liabilities
Derivative Liabilities	1,813
Interest Rate Swap \| Other Noncurrent Liabilities \| Designated as Hedging Instrument
Liabilities
Derivative Liabilities		4,301
Interest Rate Swap \| Other Noncurrent Liabilities \| Designated as Hedging Instrument \| Level 2
Liabilities
Derivative Liabilities	0
Contingent Consideration
Liabilities
Liabilities fair value	33,675	28,733
Contingent Consideration \| Revenue Based Payments \| Valuation Technique, Discounted Cash Flow
Liabilities
Liabilities fair value	$ 30,209
Contingent Consideration \| Revenue Based Payments \| Monte Carlo Simulation Model
Liabilities
Derivative fixed interest rate	2.20%
Contingent Consideration \| Revenue-based payments \| Valuation Technique, Discounted Cash Flow
Liabilities
Liabilities fair value	$ 1,725
Derivative fixed interest rate	8.50%
Contingent Consideration \| Regulatory Based Payments \| Valuation Technique, Discounted Cash Flow
Liabilities
Liabilities fair value	$ 1,741
Derivative fixed interest rate	4.90%
Contingent Consideration \| Fair Value, Inputs, Level 3
Liabilities
Liabilities fair value	$ 33,675	$ 28,733
Contingent Consideration \| Other Current Liabilities
Liabilities
Liabilities fair value	$ 31,200

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Narrative) (Details)		3 Months Ended	12 Months Ended
	Jun. 15, 2018 USD ($)	Apr. 02, 2022 USD ($)	Apr. 02, 2022 USD ($)	Apr. 03, 2021 USD ($)	Mar. 28, 2020 USD ($)	Apr. 01, 2020 USD ($)	Aug. 31, 2018 USD ($) swap
Derivative [Line Items]
Unrealized gain (loss) on cash flow hedges, net of tax			$ 5,785,000	$ (489,000)	$ (10,111,000)
Enicor
Derivative [Line Items]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High						$ 4,500,000
Cardiva
Derivative [Line Items]
Contingent Consideration, Acquisition Date Fair Value		$ 10,700,000
Term Loan
Derivative [Line Items]
Face amount of debt	$ 350,000,000
Debt outstanding		284,400,000	$ 284,400,000
Revolving Credit Facility
Derivative [Line Items]
Maximum borrowing capacity	$ 350,000,000
Revolving Credit Facility \| LIBOR \| Minimum
Derivative [Line Items]
Basis spread on variable rate	1.13%
Revolving Credit Facility \| LIBOR \| Maximum
Derivative [Line Items]
Basis spread on variable rate	1.75%
Foreign Exchange Contract
Derivative [Line Items]
Percentage of sales generated outside the US			35.60%
Maturity period for foreign currency contracts			1 year
Cash Flow Hedging \| Interest Rate Swap
Derivative [Line Items]
Number of instruments held \| swap							2
Derivative fixed interest rate							2.80%
Notional amount		199,100,000	$ 199,100,000				$ 241,900,000
Debt outstanding		345,600,000	345,600,000
Cash Flow Hedging \| Interest Rate Swap \| LIBOR
Derivative [Line Items]
Debt exposed to interest rate risk							70.00%
Derivative fixed interest rate							4.05%
Designated as Hedging Instrument \| Foreign Exchange Contract
Derivative [Line Items]
Designated foreign currency hedge contracts outstanding		67,300,000	67,300,000	56,000,000
Designated as Hedging Instrument \| Cash Flow Hedging \| Net revenues, COGS and SG&A
Derivative [Line Items]
Unrealized gain (loss) on cash flow hedges, net of tax			2,750,000
Designated as Hedging Instrument \| Interest Rate Swap \| Net revenues, COGS and SG&A
Derivative [Line Items]
Unrealized gain (loss) on cash flow hedges, net of tax			7,500,000
Designated as Hedging Instrument \| Interest Rate Swap \| Interest and other expense, net
Derivative [Line Items]
Unrealized gain (loss) on cash flow hedges, net of tax			3,035,000
Not Designated as Hedging Instrument \| Foreign Exchange Contract
Derivative [Line Items]
Non-designated foreign currency hedge contracts outstanding		39,500,000	39,500,000	95,600,000
Unrealized gain (loss) on cash flow hedges, net of tax			0
Level 2
Derivative [Line Items]
Fair value of notes		420,600,000	420,600,000
Fair Value, Measurements, Recurring
Derivative [Line Items]
Liabilities fair value		35,569,000	35,569,000	39,387,000
Fair Value, Measurements, Recurring \| Contingent Consideration
Derivative [Line Items]
Liabilities fair value		33,675,000	33,675,000	28,733,000
Contingent Consideration, Acquisition Date Fair Value			10,461,000
Contingent Consideration, Increase (Decrease) in Fair Value			(5,158,000)
Contingent Consideration, Foreign Currency Translation Adjustment			(361,000)
Fair Value, Measurements, Recurring \| Designated as Hedging Instrument
Derivative [Line Items]
Derivative Liabilities		1,894,000	1,894,000	10,654,000
Fair Value, Measurements, Recurring \| Designated as Hedging Instrument \| Foreign Exchange Contract
Derivative [Line Items]
Derivative Liabilities		56,000	56,000	454,000
Fair Value, Measurements, Recurring \| Designated as Hedging Instrument \| Interest Rate Swap
Derivative [Line Items]
Derivative Liabilities		1,813,000	1,813,000	9,851,000
Fair Value, Measurements, Recurring \| Not Designated as Hedging Instrument \| Foreign Exchange Contract
Derivative [Line Items]
Derivative Liabilities		25,000	25,000	349,000
Fair Value, Measurements, Recurring \| Level 2
Derivative [Line Items]
Liabilities fair value		1,894,000	1,894,000	10,654,000
Fair Value, Measurements, Recurring \| Level 2 \| Designated as Hedging Instrument \| Foreign Exchange Contract
Derivative [Line Items]
Derivative Liabilities				454,000
Fair Value, Measurements, Recurring \| Level 2 \| Designated as Hedging Instrument \| Interest Rate Swap
Derivative [Line Items]
Derivative Liabilities		1,813,000	1,813,000	9,851,000
Other Current Liabilities \| Fair Value, Measurements, Recurring \| Contingent Consideration
Derivative [Line Items]
Liabilities fair value		31,200,000	31,200,000
Other Current Liabilities \| Fair Value, Measurements, Recurring \| Designated as Hedging Instrument \| Foreign Exchange Contract
Derivative [Line Items]
Derivative Liabilities				454,000
Other Current Liabilities \| Fair Value, Measurements, Recurring \| Designated as Hedging Instrument \| Interest Rate Swap
Derivative [Line Items]
Derivative Liabilities				5,550,000
Other Current Liabilities \| Fair Value, Measurements, Recurring \| Not Designated as Hedging Instrument \| Foreign Exchange Contract
Derivative [Line Items]
Derivative Liabilities				349,000
Other Current Liabilities \| Fair Value, Measurements, Recurring \| Level 2 \| Designated as Hedging Instrument \| Foreign Exchange Contract
Derivative [Line Items]
Derivative Liabilities		56,000	56,000
Other Current Liabilities \| Fair Value, Measurements, Recurring \| Level 2 \| Designated as Hedging Instrument \| Interest Rate Swap
Derivative [Line Items]
Derivative Liabilities		1,813,000	1,813,000
Other Current Liabilities \| Fair Value, Measurements, Recurring \| Level 2 \| Not Designated as Hedging Instrument \| Foreign Exchange Contract
Derivative [Line Items]
Derivative Liabilities		25,000	25,000	$ 349,000
Other Liabilities \| Fair Value, Measurements, Recurring \| Contingent Consideration
Derivative [Line Items]
Liabilities fair value		$ 2,500,000	$ 2,500,000

RETIREMENT PLANS (Narrative) (Details) - USD ($)	12 Months Ended
RETIREMENT PLANS (Narrative) (Details) - USD ($)	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Benefit obligation, plan funded by company	$ 9,600,000	$ 11,100,000
Reinsurance contracts asset value	6,800,000	7,000,000
Accumulated benefit obligation	28,400,000	30,600,000
Amount expected to be amortized from accumulated other comprehensive loss in next fiscal year	300,000
Subsidiaries
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Company contributions	600,000	700,000	$ 600,000
Savings Plus Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Company contributions	6,300,000	4,900,000	4,700,000
401k Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Company contributions	$ 0	$ 0	$ 0

RETIREMENT PLANS (Schedule of Components of Net Periodic Benefit Costs of Defined Benefit Pension Plans) (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020
Retirement Benefits [Abstract]
Service cost	$ 1,714	$ 1,861	$ 1,829
Interest cost on benefit obligation	242	279	301
Expected return on plan assets	(88)	(66)	(178)
Actuarial loss	189	119	129
Amortization of unrecognized prior service cost	(175)	(123)	(98)
Plan settlements	(184)	0	(239)
Totals	$ 1,698	$ 2,070	$ 1,744

RETIREMENT PLANS (Schedule of Activity Under Defined Benefit Plans) (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020
Change in Benefit Obligation:
Benefit Obligation, beginning of year	$ (31,891)	$ (28,370)
Service cost	(1,714)	(1,861)	$ (1,829)
Interest cost	(242)	(279)	(301)
Defined Benefit Plan, Benefit Obligation, Benefits Paid	928	1,990
Actuarial gain (loss)	3,208	(1,249)
Employee and plan participants contribution	(2,093)	(1,084)
Defined Benefit Plan, Benefit Obligation, (Increase) Decrease for Settlement	(1,367)	525
Foreign currency changes	27	(1,563)
Benefit obligation, end of year	(30,410)	(31,891)	(28,370)
Change in Plan Assets:
Fair value of plan assets, beginning of year	16,142	15,287
(Loss) gain on plan assets	(108)	219
Defined Benefit Plan, Plan Assets, Contributions by Plan Participant	2,077	1,064
Plan settlements	(1,356)	0
Foreign currency changes	(21)	170
Fair value of plan assets, end of year	17,447	16,142	$ 15,287
Defined Benefit Plan, Plan Assets, Contributions by Employer	1,432	1,224
Defined Benefit Plan, Plan Assets, Benefits Paid	719	1,822
Funded Status*	(12,963)	(15,749)
Unrecognized net actuarial (gain) loss	(236)	2,948
Unrecognized prior service cost	(1,099)	(1,248)
Net amount recognized	$ (14,298)	$ (14,049)

RETIREMENT PLANS (Schedule of Components of Change Recorded in Accumulated Other Comprehensive Income Related to Defined Benefit Plans, Net of Tax) (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020
Components of Change Recorded in Accumulated Other Comprehensive Income Related to Defined Benefit Plans, Net of Tax [Roll Forward]
Impact of defined benefit plans, net of tax, balance	$ (560)	$ (209)	$ (527)
Actuarial gain	2,532	(221)	614
Prior service cost	(194)	(130)	(87)
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), after Tax	(159)	0	(209)
Impact of defined benefit plans, net of tax, balance	$ 1,619	$ (560)	$ (209)

RETIREMENT PLANS (Schedule of Weighted Average Rates Used to Determine Net Periodic Benefit Costs) (Details)	12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020
Retirement Benefits [Abstract]
Discount rate	1.38%	0.58%	0.82%
Rate of increased salary levels	1.81%	1.64%	1.74%
Expected long-term rate of return on assets	0.69%	0.42%	0.31%

RETIREMENT PLANS (Schedule of Estimated Future Benefit Payments) (Details) $ in Thousands	Apr. 02, 2022 USD ($)
Expected Benefit Payments
Fiscal 2023	$ 1,328
Fiscal 2024	1,426
Fiscal 2025	1,326
Fiscal 2026	1,429
Fiscal 2027	1,384
Fiscal 2028-2032	$ 9,867

CAPITAL STOCK (Narrative) (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Apr. 02, 2022 USD ($) period $ / shares shares	Apr. 03, 2021 USD ($) $ / shares shares	Mar. 28, 2020 USD ($) $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares available for award (in shares)	5,759,433
Maximum number of shares available for grant (in shares)	3,928,160
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares available for award (in shares)	3,200,000
Number of purchase periods (in purchase periods) \| period	2
Percentage of purchase price for shares of common stock at fair market value (as a percent)	85.00%
Weighted average grant date fair value of the six-month option inherent in the Purchase Plan (in dollars per share) \| $ / shares	$ 20.77	$ 30.77	$ 27.11
Expected term	6 months	6 months	6 months
Employee Stock Purchase Plan \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares purchased through payroll deductions (as a percent)	2.00%
Employee Stock Purchase Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shares purchased through payroll deductions (as a percent)	15.00%
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options outstanding (in shares)	1,056,638	960,687
Award expiration period	7 years
Total intrinsic value of options exercised \| $	$ 1.7	$ 8.2	$ 18.1
Total unrecognized compensation cost related to non vested awards \| $	$ 8.5
Total unrecognized compensation cost related to non vested stock options, weighted average period of recognition (in years)	2 years 6 months
Expected term	4 years 10 months 24 days	4 years 10 months 24 days	4 years 10 months 24 days
Stock Options \| Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Stock Options \| Non-employee director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity instruments other than options outstanding (in shares)	386,536	248,463
Total unrecognized compensation cost related to non vested awards \| $	$ 17.6
Total unrecognized compensation cost related to non vested stock options, weighted average period of recognition (in years)	2 years 2 months 12 days
Shares, Vested (in shares)	115,045
Weighted Average Grant Date Fair Value (in dollars per share), Granted \| $ / shares	$ 56.96	$ 102.19	$ 102.32
Restricted Stock Units (RSUs) \| Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Restricted Stock Units (RSUs) \| Non-employee director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	1 year
Performance Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares available for award (in shares)	565,892
Equity instruments other than options outstanding (in shares)	282,946	240,891
Total unrecognized compensation cost related to non vested awards \| $	$ 14.0
Total unrecognized compensation cost related to non vested stock options, weighted average period of recognition (in years)	1 year 7 months 6 days
Shares, Vested (in shares)	0
Performance shares target, percentage	100.00%
Weighted Average Grant Date Fair Value (in dollars per share), Granted \| $ / shares	$ 72.52	$ 123.92	$ 146.93
Performance Share Units (PSUs) \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance shares target, percentage	0.00%
Performance Share Units (PSUs) \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance shares target, percentage	200.00%
Performance Share Units (PSUs) \| Fiscal 2016 Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award performance period	3 years
2019 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares available for award (in shares)	2,700,000
Incentive Compensation Plan 2005
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares available for award (in shares)	3,059,433
Incentive Compensation Plan 2005 \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options counted against maximum number of award shares for every share option issued (in shares)	2.76

CAPITAL STOCK (Schedule of Share-Based Compensation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense recognized	$ 24,359	$ 25,516	$ 20,454
Selling, general and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense recognized	20,694	22,888	18,022
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense recognized	2,537	1,874	1,210
Cost of Goods Sold
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense recognized	$ 1,128	$ 754	$ 1,222

CAPITAL STOCK (Schedule of Summary of Stock Option Activity) (Details) - Stock Options - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options Outstanding, (in shares), Beginning Balance	960,687
Options Outstanding, (in shares), Granted	310,302
Options Outstanding, (in shares), Exercised	(76,648)
Options Outstanding, (in shares), Forfeited	(137,703)
Options Outstanding, (in shares), Ending Balance	1,056,638	960,687
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Weighted Average Exercise Price (in dollars per share), Beginning Balance	$ 70.29
Weighted Average Exercise Price (in dollars per share), Granted	56.70
Weighted Average Exercise Price (in dollars per share), Exercised	38.24
Weighted Average Exercise Price (in dollars per share), Forfeited	83.71
Weighted Average Exercise Price (in dollars per share), Ending Balance	$ 66.87	$ 70.29
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted Average Remaining Life, Balance	3 years 9 months 14 days	4 years 14 days
Aggregate Intrinsic Value, Balance	$ 12,423	$ 40,179
Options Outstanding, (in shares), Exercisable and End of Period	561,114
Weighted Average Exercise Price (in dollars per share), Exercisable at End of Period	$ 57.84
Weighted Average Remaining Life, Exercisable at End of Period	2 years 4 months 28 days
Aggregate Intrinsic Value, Exercisable at End of Period	$ 10,505
Options Outstanding, (in shares), Vested and Expected to Vest at End of Period	970,200
Weighted Average Exercise Price (in dollars per share), Vested or Expected to Vest at End of Period	$ 66.47
Weighted Average Remaining Life, Vested or Expected to Vest at End of Period	2 years 9 months 7 days
Aggregate Intrinsic Value, Vested and Expected to Vest at End of Period	$ 12,002

CAPITAL STOCK (Schedule of Assumptions Used to Estimate Fair Value) (Details) - $ / shares	12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020
Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected stock price volatility	55.60%	49.80%	34.70%
Expected term	6 months	6 months	6 months
Risk-free interest rate	0.10%	0.10%	2.00%
Dividend Yield	0.00%	0.00%	0.00%
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected stock price volatility	41.90%	33.50%	28.20%
Expected term	4 years 10 months 24 days	4 years 10 months 24 days	4 years 10 months 24 days
Risk-free interest rate	0.80%	0.40%	2.50%
Dividend Yield	0.00%	0.00%	0.00%
Fair value per option (in dollars per share)	$ 20.97	$ 30.53	$ 28.25
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted Average Grant Date Fair Value (in dollars per share), Granted	56.96	102.19	102.32
Weighted Average Grant Date Fair Value (in dollars per share), Vested	$ 79.60	$ 66.87	$ 54.58
Performance Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected stock price volatility	49.23%	36.79%	28.64%
Peer group stock price volatility	45.75%	42.31%	29.77%
Correlation of returns	65.06%	65.12%	50.30%
Weighted Average Grant Date Fair Value (in dollars per share), Granted	$ 72.52	$ 123.92	$ 146.93
Weighted Average Grant Date Fair Value (in dollars per share), Vested	$ 0	$ 47.43	$ 34.78

CAPITAL STOCK (Schedule of Summary of Equity Awards other than Options Activity) (Details) - $ / shares	12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Shares, Beginning Balance (in shares)	248,463
Shares, Granted (in shares)	316,985
Shares, Vested (in shares)	(115,045)
Shares, Forfeited (in shares)	(63,867)
Shares, Ending Balance (in shares)	386,536	248,463
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted Average Grant Date Fair Value (in dollars per share), Beginning Balance	$ 91.25
Weighted Average Grant Date Fair Value (in dollars per share), Granted	56.96	$ 102.19	$ 102.32
Weighted Average Grant Date Fair Value (in dollars per share), Vested	79.60	66.87	54.58
Weighted Average Grant Date Fair Value (in dollars per share), Forfeited	74.96
Weighted Average Grant Date Fair Value (in dollars per share), Ending Balance	$ 69.27	$ 91.25
Performance Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
Shares, Beginning Balance (in shares)	240,891
Shares, Granted (in shares)	106,069
Shares, Vested (in shares)	0
Shares, Forfeited (in shares)	(64,014)
Shares, Ending Balance (in shares)	282,946	240,891
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward]
Weighted Average Grant Date Fair Value (in dollars per share), Beginning Balance	$ 129.24
Weighted Average Grant Date Fair Value (in dollars per share), Granted	72.52	$ 123.92	146.93
Weighted Average Grant Date Fair Value (in dollars per share), Vested	0	47.43	$ 34.78
Weighted Average Grant Date Fair Value (in dollars per share), Forfeited	107.04
Weighted Average Grant Date Fair Value (in dollars per share), Ending Balance	$ 102.17	$ 129.24

SEGMENT AND ENTERPRISE-WIDE INFORMATION (Details) $ in Thousands	12 Months Ended
	Apr. 02, 2022 USD ($) unit	Apr. 03, 2021 USD ($)	Mar. 28, 2020 USD ($)
Segment Reporting Information [Line Items]
Number of business units \| unit	3
Net revenues by business unit	$ 968,066	$ 851,310	$ 980,902
Effect of exchange rates	4,319	(1,605)	(12,253)
Net revenues	993,196	870,463	988,479
Operating Income (Loss)	80,750	89,747	103,351
Effect of exchange rates	18,993	12,830	7,920
Amortization of intangible assets	47,414	32,830	25,746
Restructuring and Related Cost, Accelerated Depreciation	(5,732)	(25,696)	(75,750)
OperatingExpensesTransactionCosts	21,604	18,421	568
European Medical Device Regulation Costs	11,033	4,130	1,506
Gains on divestitures and sale of assets	(1,368)	(897)	701
Integration and transaction costs	9,603	32,812	8,083
Gains on divestitures and sale of assets	(28,824)	(15,661)	(19,878)
Depreciation and amortization	97,747	84,287	110,289
Total long-lived assets	258,482	217,559
Service [Member]
Segment Reporting Information [Line Items]
Net revenues	20,811	20,758	19,830
Plasma products and services
Segment Reporting Information [Line Items]
Net revenues	427,611	414,266	537,231
Blood Center products and services
Segment Reporting Information [Line Items]
Net revenues	236,158	239,614	252,829
Hospital products and services
Segment Reporting Information [Line Items]
Net revenues	329,427	216,583	198,419
United States
Segment Reporting Information [Line Items]
Net revenues	639,322	522,607	646,204
Total long-lived assets	200,927	159,749
Japan
Segment Reporting Information [Line Items]
Net revenues	75,562	77,676	72,218
Total long-lived assets	1,096	1,515
Europe
Segment Reporting Information [Line Items]
Net revenues	163,520	159,077	153,347
Total long-lived assets	11,989	10,384
Asia
Segment Reporting Information [Line Items]
Net revenues	110,802	105,820	109,295
Total long-lived assets	28,132	30,588
Other
Segment Reporting Information [Line Items]
Net revenues	3,990	5,283	7,415
Total long-lived assets	16,338	15,323
Plasma products and services
Segment Reporting Information [Line Items]
Net revenues by business unit	351,945	333,334	460,637
Depreciation and amortization	28,314	24,093	63,347
Total long-lived assets	129,241	105,599
Blood Center products and services
Segment Reporting Information [Line Items]
Net revenues by business unit	294,541	307,370	325,661
Depreciation and amortization	32,489	39,672	38,429
Total long-lived assets	82,714	83,225
Hospital products and services
Segment Reporting Information [Line Items]
Net revenues by business unit	321,580	210,606	194,604
Depreciation and amortization	36,944	20,522	8,513
Total long-lived assets	46,527	28,735
Operating Segments [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)	449,605	398,491	465,822
Operating Segments [Member] \| Plasma products and services
Segment Reporting Information [Line Items]
Operating Income (Loss)	183,131	172,463	225,351
Operating Segments [Member] \| Blood Center products and services
Segment Reporting Information [Line Items]
Operating Income (Loss)	136,691	141,962	159,802
Operating Segments [Member] \| Hospital products and services
Segment Reporting Information [Line Items]
Operating Income (Loss)	129,783	84,066	80,669
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)	$ 281,476	$ 256,751	$ 255,727

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Apr. 02, 2022	Apr. 03, 2021	Mar. 28, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), Balance	$ (29,547)	$ (45,135)
Other comprehensive income (loss) before reclassifications	1,573	8,704
Amounts reclassified from accumulated other comprehensive income (loss)	2,020	6,884
Other comprehensive income (loss)	3,593	15,588	$ (14,755)
Accumulated other comprehensive income (loss), Balance	(25,954)	(29,547)	(45,135)
Foreign currency
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), Balance	(21,528)	(31,100)
Other comprehensive income (loss) before reclassifications	(6,391)	9,572
Amounts reclassified from accumulated other comprehensive income (loss)	0	0
Other comprehensive income (loss)	(6,391)	9,572
Accumulated other comprehensive income (loss), Balance	(27,919)	(21,528)	(31,100)
Defined benefit plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), Balance	(560)	(209)
Other comprehensive income (loss) before reclassifications	2,179	(379)
Amounts reclassified from accumulated other comprehensive income (loss)	0	28
Other comprehensive income (loss)	2,179	(351)
Accumulated other comprehensive income (loss), Balance	1,619	(560)	(209)
Net Unrealized Gain (Loss) on Derivatives
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), Balance	(7,459)	(13,826)
Other comprehensive income (loss) before reclassifications	5,785	(489)
Amounts reclassified from accumulated other comprehensive income (loss)	2,020	6,856
Other comprehensive income (loss)	7,805	6,367
Accumulated other comprehensive income (loss), Balance	$ 346	$ (7,459)	$ (13,826)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details