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FINANCIAL INSTRUMENTS AND FAIR VALUE MEASURES (Schedules of Derivatives) (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands	Dec. 30, 2023	Apr. 01, 2023
Assets
Money market funds	$ 7,583	$ 132,341
Derivative Assets	1,991	2,813
Assets fair value	9,574	135,154
Liabilities
Derivative Liabilities	669	1,889
Liabilities fair value	669	2,752
Level 1
Assets
Money market funds	7,583	132,341
Assets fair value	7,583	132,341
Liabilities
Liabilities fair value	0	0
Level 2
Assets
Money market funds	0	0
Assets fair value	1,991	2,813
Liabilities
Liabilities fair value	669	1,889
Fair Value, Inputs, Level 3
Liabilities
Liabilities fair value		863
Foreign Exchange Contract \| Designated as Hedging Instrument
Assets
Derivative Assets	668	1,401
Liabilities
Derivative Liabilities	18	24
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		1,401
Liabilities
Derivative Liabilities		24
Foreign Exchange Contract \| Not Designated as Hedging Instrument
Assets
Derivative Assets	177	302
Liabilities
Derivative Liabilities	179	58
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		302
Foreign Exchange Contract \| Other Current Assets \| Designated as Hedging Instrument
Assets
Derivative Assets		1,401
Foreign Exchange Contract \| Other Current Assets \| Designated as Hedging Instrument \| Level 2
Assets
Derivative Assets	668
Foreign Exchange Contract \| Other Current Assets \| Not Designated as Hedging Instrument
Assets
Derivative Assets		302
Foreign Exchange Contract \| Other Current Assets \| Not Designated as Hedging Instrument \| Level 2
Assets
Derivative Assets	177
Foreign Exchange Contract \| Other Current Liabilities \| Designated as Hedging Instrument
Liabilities
Derivative Liabilities		24
Foreign Exchange Contract \| Other Current Liabilities \| Designated as Hedging Instrument \| Level 2
Liabilities
Derivative Liabilities	18
Foreign Exchange Contract \| Other Current Liabilities \| Not Designated as Hedging Instrument
Liabilities
Derivative Liabilities		58
Foreign Exchange Contract \| Other Current Liabilities \| Not Designated as Hedging Instrument \| Level 2
Liabilities
Derivative Liabilities	179	58
Interest Rate Swap \| Designated as Hedging Instrument
Liabilities
Derivative Liabilities	472	1,807
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	472	1,807
Interest Rate Swap \| Other Current Assets \| Not Designated as Hedging Instrument
Assets
Derivative Assets		1,110
Interest Rate Swap \| Other Current Assets \| Not Designated as Hedging Instrument \| Level 1
Assets
Derivative Assets		0
Interest Rate Swap \| Other Current Assets \| Not Designated as Hedging Instrument \| Level 2
Assets
Derivative Assets	1,146	1,110
Interest Rate Swap \| Other Noncurrent Liabilities \| Designated as Hedging Instrument
Liabilities
Derivative Liabilities		1,807
Interest Rate Swap \| Other Noncurrent Liabilities \| Designated as Hedging Instrument \| Level 2
Liabilities
Derivative Liabilities	472
Interest Rate Swap \| Other Assets \| Not Designated as Hedging Instrument
Assets
Derivative Assets	1,146
Interest Rate Swap \| Other Assets \| Not Designated as Hedging Instrument \| Level 1
Assets
Derivative Assets	0
Interest Rate Swap \| Other Assets \| Not Designated as Hedging Instrument \| Level 2
Assets
Derivative Assets	$ 1,146
Contingent Consideration
Liabilities
Liabilities fair value		863
Contingent Consideration \| Fair Value, Inputs, Level 3
Liabilities
Liabilities fair value		$ 863

ACQUISITIONS - Purchase Price Allocation (Details) - USD ($) $ in Thousands	Dec. 12, 2023	Dec. 30, 2023	Apr. 01, 2023
Business Acquisition [Line Items]
Goodwill		$ 554,999	$ 466,231
OpSens, Inc.
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables	$ 5,960
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	11,255
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Prepaid Expense and Other Assets	2,062
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	3,028
Acquired intangibles	180,500
Goodwill	87,079
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	4,705
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	294,589
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable	5,626
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Accrued Payroll and Related Costs	1,723
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other	7,277
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities	30,258
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	5,853
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	50,737
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	243,852
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	10,600
OpSens, Inc. \| Technology-Based Intangible Assets
Business Acquisition [Line Items]
Acquired intangibles	$ 121,600
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life	15 years
Acquired Intangible Assets, Risk-Adjusted Discount Rate	20.00%
OpSens, Inc. \| Customer Relationships
Business Acquisition [Line Items]
Acquired intangibles	$ 53,900
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life	15 years
Acquired Intangible Assets, Risk-Adjusted Discount Rate	18.40%
OpSens, Inc. \| Trade Names [Member]
Business Acquisition [Line Items]
Acquired intangibles	$ 5,000
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life	15 years
Acquired Intangible Assets, Risk-Adjusted Discount Rate	20.00%

GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Dec. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

11. GOODWILL AND INTANGIBLE ASSETS

The changes in the carrying amount of goodwill by operating segment for fiscal 2024 are as follows:


(In thousands)	Plasma		Blood Center		Hospital		Total
Carrying amount as of April 1, 2023	$	29,043	$	33,855	$	403,333	$	466,231


Acquisitions	—		—		87,079		87,079
Currency translation	—		(140)		1,829		1,689
Carrying amount as of December 30, 2023	$	29,043	$	33,715	$	492,241	$	554,999

The gross carrying amount of intangible assets and the related accumulated amortization as of December 30, 2023 and April 1, 2023 is as follows:


(In thousands)	Gross Carrying Amount		Accumulated Amortization		Net

As of December 30, 2023
Amortizable:
Patents	$	18,504	$	11,562	$	6,942
Capitalized software	84,443		67,169		17,274
Other developed technology	474,406		169,844		304,562
Customer contracts and related relationships	258,720		188,977		69,743
Trade names	14,662		5,258		9,404
Total	$	850,735	$	442,810	$	407,925
Non-amortizable:
In-process software development	$	3,877
In-process research and development	13,667
In-process patents	3,801
Total	$	21,345


(In thousands)	Gross Carrying Amount		Accumulated Amortization		Net

As of April 1, 2023
Amortizable:
Patents	$	18,504	$	10,831	$	7,673
Capitalized software	78,962		60,776		18,186
Other developed technology	362,506		153,099		209,407
Customer contracts and related relationships	203,240		187,774		15,466
Trade names	9,508		4,942		4,566
Total	$	672,720	$	417,422	$	255,298
Non-amortizable:
In-process software development	$	3,841
In-process research and development	13,667
In-process patents	2,965
Total	$	20,473

During the third quarter of fiscal 2024, the Company acquired OpSens and recorded $121.6 million of developed technology, $53.9 million of customer contracts and related relationships and $5.0 million of trade names based on our preliminary purchase accounting valuation. Refer to Note 3, Acquisitions and Strategic Investments, for additional information regarding the acquisition.

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.

In the second quarter of fiscal 2024, the Company recorded an intangible asset impairment charge of $10.4 million related to the intangibles acquired as part of the enicor GmbH acquisition completed in fiscal 2021 within the Hospital business unit.

During the three and nine months ended December 30, 2023, amortization expense was $9.3 million and $28.5 million, respectively. During the three and nine months ended December 31, 2022, amortization expense was $10.4 million and $31.7 million, respectively.

Future annual amortization expense on intangible assets for the next five years is estimated to be as follows:


(In thousands)
Remainder of Fiscal 2024	$	12,211
Fiscal 2025	$	42,010
Fiscal 2026	$	36,583
Fiscal 2027	$	34,610
Fiscal 2028	$	32,839

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASURES (Schedule of Effect of Derivative Instruments Designated as Cash Flow Hedges and Those Not Designated as Hedging Instruments) (Details) $ in Thousands	9 Months Ended
	Dec. 30, 2023 USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest and other expense, net
Designated as Hedging Instrument \| Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain Recognized in Accumulated Other Comprehensive Loss	$ 1,992
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings	(2,745)
Amount of Gain Excluded from Effectiveness Testing	1,222
Designated as Hedging Instrument \| Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain Recognized in Accumulated Other Comprehensive Loss	1,312
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings	2
Amount of Gain Excluded from Effectiveness Testing	0
Not Designated as Hedging Instrument \| Foreign Exchange Contract
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain Recognized in Accumulated Other Comprehensive Loss	0
Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Earnings	0
Amount of Gain Excluded from Effectiveness Testing	$ 1,363

RESTRUCTURING (Schedule of Restructuring Reserve by Type of Cost) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Dec. 30, 2023	Dec. 31, 2022
Restructuring Reserve [Roll Forward]
Balance at April 1, 2023			$ 2,150
Costs incurred, net of reversals	$ 7,968	$ 44	8,043	$ 165
Payments			(1,190)
Balance at December 30, 2023	9,003		9,003
Cost of goods sold
Restructuring Reserve [Roll Forward]
Costs incurred, net of reversals	7,065	(49)	7,329	(226)
Research and development
Restructuring Reserve [Roll Forward]
Costs incurred, net of reversals	343	0	343	0
Selling, general and administrative expenses
Restructuring Reserve [Roll Forward]
Costs incurred, net of reversals	560	$ 93	371	$ 391
2020 Program
Restructuring Reserve [Roll Forward]
Balance at April 1, 2023			1,810
Costs incurred, net of reversals			356
Payments			(1,006)
Balance at December 30, 2023	1,160		1,160
Prior Programs
Restructuring Reserve [Roll Forward]
Balance at April 1, 2023			340
Costs incurred, net of reversals			31
Payments			(58)
Balance at December 30, 2023	313		313
Portfolio Rationalization
Restructuring Reserve [Roll Forward]
Balance at April 1, 2023			0
Costs incurred, net of reversals			7,656
Payments			(126)
Balance at December 30, 2023	$ 7,530		$ 7,530

NOTES PAYABLE AND LONG-TERM DEBT	9 Months Ended
NOTES PAYABLE AND LONG-TERM DEBT	Dec. 30, 2023
Debt Disclosure [Abstract]
NOTES PAYABLE AND LONG-TERM DEBT	12. NOTES PAYABLE AND LONG-TERM DEBT Convertible Senior Notes The Company has $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 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. During third quarter of fiscal 2024, the conditions allowing holders of the 2026 Notes to convert have not been met. The 2026 Notes were therefore not convertible as of December 30, 2023 and were classified as long-term debt on the Company’s Condensed Consolidated Balance Sheets. As of December 30, 2023, the $500.0 million principal balance was netted down by the $5.9 million of remaining debt issuance costs, resulting in a net convertible note payable of $494.1 million. Interest expense related to the 2026 Notes was $0.7 million and $2.0 million for the three and nine months ended December 30, 2023, respectively, 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%. Credit Facilities On June 15, 2018, the Company entered into a credit agreement with certain lenders that provided for a $350.0 million term loan and a $350.0 million revolving credit facility (together with the term loan, as amended from time to time, the “2018 Credit Facilities”) that were each scheduled to mature on June 15, 2023. On July 26, 2022, the Company entered into an amended and restated credit agreement with certain lenders to refinance the 2018 Credit Facilities and extend their maturity date through June 2025. The amended and restated credit agreement provides for a $280.0 million senior unsecured term loan, the proceeds of which have been used to settle the balance of the term loan under the 2018 Credit Facilities, and a $420.0 million senior unsecured revolving credit facility (together, the “Revised Credit Facilities”). Loans under the Revised Credit Facilities bear interest at an annual rate equal to the Adjusted Term SOFR Rate (as specified in the amended and restated credit agreement), which is subject to a floor of 0%, plus an applicable rate ranging from 1.125% to 1.750% based on the Company’s consolidated net leverage ratio (as specified in the amended and restated credit agreement) at the applicable measurement date. Adjusted Term SOFR Rate loans are also subject to a credit spread adjustment of 0.10% per annum. The revolving credit facility carries an unused fee that ranges from 0.125% to 0.250% annually based on the Company’s consolidated net leverage ratio at the applicable measurement date. Under the Revised Credit Facilities, the Company is required to maintain certain leverage and interest coverage ratios specified in the amended and restated credit agreement as well as other customary non-financial affirmative and negative covenants. The Revised Credit Facilities mature on June 15, 2025. The principal amount of the term loan under the Revised Credit Facilities is repayable quarterly through the maturity date at a rate of 2.5% for the first year and 5% thereafter, with the unpaid balance due at maturity. The Company applied modification accounting for the credit facility refinancing. For the term loan under the Revised Credit Facilities, for fiscal 2023, the Company recognized interest expense of $0.5 million for third party fees incurred and capitalized $0.2 million of lender fees related to the term loan. For fiscal 2023, the Company capitalized $1.1 million of lender fees and third-party costs incurred in the refinancing related to the revolving credit facility under the Revised Credit Facilities. At December 30, 2023, $266.0 million was outstanding under the term loan with an effective interest rate of 6.8%. The Company has scheduled principal payments of $14.0 million required during the 12 months following December 30, 2023. During the third quarter of fiscal 2024 in connection with the acquisition of OpSens, the Company borrowed $110.0 million under the revolving credit facility, with an effective interest rate of 6.7%, which remains outstanding as of December 30, 2023. The Company also had $20.1 million of uncommitted operating lines of credit to fund its global operations under which there were no outstanding borrowings as of December 30, 2023. The Company was in compliance with the leverage and interest coverage ratios specified in the Revised Credit Facilities as well as all other bank covenants as of December 30, 2023.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

ACQUISITIONS (Tables)

Dec. 12, 2023

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition

The purchase price of $243.9 million, net of $10.6 million of cash acquired consists of the amounts presented below, which represent the preliminary determination of the fair value of the identifiable assets acquired and liabilities assumed:


(In thousands)	December 12, 2023
Accounts receivable	$	5,960
Inventories	11,255
Prepaid expenses and other current assets	2,062
Property, plant and equipment	3,028
Intangible assets	180,500
Goodwill	87,079
Other long-term assets	4,705
Total assets acquired	$	294,589
Accounts payable	5,626
Accrued payroll and related costs	1,723
Other liabilities	7,277
Deferred tax liability	30,258
Other long-term liabilities	5,853
Total liabilities assumed	$	50,737
Net assets acquired	$	243,852

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

Intangible assets acquired consist of the following:


(In thousands)	Amount		Weighted-Average Amortization Period	Risk-Adjusted Discount Rates used in Purchase Price Allocation
Developed technology	$	121,600	15 years	20.0	%
Customer contracts and related relationships	53,900		15 years	18.4	%
Trade names	5,000		15 years	20.0	%
Total	$	180,500

LEASES (Details)	9 Months Ended
LEASES (Details)	Dec. 30, 2023
Leases [Abstract]
Operating Lease, Revenue, As A Percentage Of Total Net Sales	3.00%

EARNINGS PER SHARE (Schedule of Earnings Per Share Reconciliation) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Dec. 30, 2023	Sep. 30, 2023	Jul. 01, 2023	Dec. 31, 2022	Oct. 01, 2022	Jul. 02, 2022	Dec. 30, 2023	Dec. 31, 2022
Basic EPS
Net income	$ 31,241	$ 24,908	$ 41,042	$ 32,944	$ 33,197	$ 19,877	$ 97,191	$ 86,018
Weighted average shares (in shares)	50,768,000			50,509,000			50,679,000	50,896,000
Basic income (loss) per share (in dollars per share)	$ 0.62			$ 0.65			$ 1.92	$ 1.69
Diluted EPS
Net income	$ 31,241	$ 24,908	$ 41,042	$ 32,944	$ 33,197	$ 19,877	$ 97,191	$ 86,018
Net effect of common stock equivalents (in shares)	677,000			710,000			715,000	591,000
Diluted weighted average shares (in shares)	51,445,000			51,219,000			51,394,000	51,487,000
Diluted income (loss) per share (in dollars per share)	$ 0.61			$ 0.64			$ 1.89	$ 1.67
Anti-dilutive shares (in shares)	600,000			400,000			600,000	700,000

- Definition

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

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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.

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

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+ Details

GOODWILL AND INTANGIBLE ASSETS Schedule of Goodwill (Details) $ in Thousands	9 Months Ended
	Dec. 30, 2023 USD ($)
Goodwill [Roll Forward]
Goodwill, carrying amount	$ 466,231
Currency translation	1,689
Goodwill, carrying amount	554,999
Goodwill, Acquired During Period	87,079
Plasma
Goodwill [Roll Forward]
Goodwill, carrying amount	29,043
Currency translation	0
Goodwill, carrying amount	29,043
Goodwill, Acquired During Period	0
Blood Center
Goodwill [Roll Forward]
Goodwill, carrying amount	33,855
Currency translation	(140)
Goodwill, carrying amount	33,715
Goodwill, Acquired During Period	0
Hospital
Goodwill [Roll Forward]
Goodwill, carrying amount	403,333
Currency translation	1,829
Goodwill, carrying amount	492,241
Goodwill, Acquired During Period	$ 87,079

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

BASIS OF PRESENTATION	9 Months Ended
BASIS OF PRESENTATION	Dec. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	1. BASIS OF PRESENTATION Basis of Presentation The accompanying unaudited condensed consolidated financial statements of Haemonetics Corporation (“Haemonetics” or the “Company”) presented herein have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of the Company’s management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. All intercompany transactions have been eliminated. Operating results for the nine months ended December 30, 2023 are not necessarily indicative of the results that may be expected for the full fiscal year ending March 30, 2024 or any other interim period. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and footnotes included in the Annual Report on Form 10-K for the fiscal year ended April 1, 2023. 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 as of or for the nine months ended December 30, 2023.

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Dec. 30, 2023	Dec. 31, 2022	Apr. 01, 2023
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 979,291		$ 979,291		$ 944,215
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	(660,626)		(660,626)		(633,330)
Property, plant and equipment, net	318,665		318,665		310,885
Depreciation	14,200	$ 13,100	41,100	$ 37,700
Fixed assets	4,300		4,300
Land
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	5,573		5,573		5,358
Building and Building Improvements
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	119,024		119,024		127,634
Machinery and Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	200,154		200,154		194,539
Office Equipment and Information Technology
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	129,488		129,488		123,611
Haemonetics Equipment
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	480,083		480,083		463,706
Construction in Progress
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 44,969		$ 44,969		$ 29,367

PROPERTY, PLANT AND EQUIPMENT

9 Months Ended

Dec. 30, 2023

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

9. PROPERTY, PLANT AND EQUIPMENT


(In thousands)	December 30, 2023		April 1, 2023
Land	$	5,573	$	5,358
Building and building improvements	119,024		127,634
Plant equipment and machinery	200,154		194,539
Office equipment and information technology	129,488		123,611
Haemonetics equipment	480,083		463,706
Construction in progress	44,969		29,367
Total	979,291		944,215
Less: accumulated depreciation	(660,626)		(633,330)
Property, plant and equipment, net	$	318,665	$	310,885

During the three and nine months ended December 30, 2023, depreciation expense was $14.2 million and $41.1 million, respectively. During the three and nine months ended December 31, 2022, depreciation expense was $13.1 million and $37.7 million, respectively.

Beginning in the second quarter of fiscal 2024, $4.3 million of the Company’s property, plant and equipment met held for sale accounting criteria and was reclassed to Prepaid expenses and other current assets in the Condensed Consolidated Balance Sheets.

EARNINGS PER SHARE (Share Repurchase Program) (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Aug. 31, 2022	Aug. 16, 2022
Earnings Per Share [Abstract]
Share repurchase plan, authorized amount		$ 300,000
Remaining authorized amount	$ 225,000
Accelerated Share Repurchases, Settlement (Payment) or Receipt			$ 75,000

Insider Trading Arrangements

3 Months Ended

Dec. 30, 2023

Trading Arrangements, by Individual

Rule 10b5-1 Arrangement Adopted

true

Non-Rule 10b5-1 Arrangement Adopted

false

Rule 10b5-1 Arrangement Terminated

false

Non-Rule 10b5-1 Arrangement Terminated

false

Michelle Basil [Member]

Trading Arrangements, by Individual

Material Terms of Trading Arrangement

During the three months ended December 30, 2023, certain of our directors and officers (as defined under Rule 16a-1(f) under the Securities Exchange Act of 1934) adopted or terminated trading arrangements for the sale of shares of our common stock as follows:

Trading Arrangement

Name and Title

Action

Date(1)

Rule 10b5-1*

Non-Rule 10b5-1**

Number of Shares to be Sold(2)

Expiration Date(3)

Michelle L. Basil, EVP, General Counsel

Adoption

12/14/2023

17,567(4)

8/15/2024

* Intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Securities Exchange Act of 1934.

** Not intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Securities Exchange Act of 1934.

(1) Reflects the fully-executed date of each trading arrangement, which may differ from the date of first execution by an officer or director.

(2) The number of shares of common stock sold under each trading arrangement, if any, will be net of shares withheld for applicable tax obligations upon the vesting and/or exercise of covered securities as well as for payment of the exercise price upon the exercise of stock options, which amounts are not yet determinable.

(3) Except as otherwise indicated by footnote, each trading arrangement expires upon the earlier of (a) completion of all authorized transactions thereunder and (b) the expiration date listed above.

(4) Includes 12,374 shares subject to a performance share unit (“PSU”) award previously granted to Ms. Basil on May 18, 2021. The actual number of shares to be earned under the PSU award, and subject to sale under this trading arrangement, may range from 0% to a maximum of 200% of the target award depending upon the Company’s total shareholder return relative to the components of the S&P MidCap 400 index during a three-year performance period from May 18, 2021 to May 17, 2024.

Michelle L. Basil

EVP, General Counsel

12/14/2023

351 days

17,567

GOODWILL AND INTANGIBLE ASSETS Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Dec. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Aggregate amortization expense	$ 9,300	$ 10,400	$ 28,500	$ 31,700
Intangible asset impairment	$ 0	$ 0	$ 10,419	$ 0
Minimum
Finite-Lived Intangible Assets [Line Items]
Weighted average useful life	5 years		5 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Weighted average useful life	15 years		15 years

EARNINGS PER SHARE

9 Months Ended

Dec. 30, 2023

Earnings Per Share [Abstract]

EARNINGS PER SHARE

7. EARNINGS PER SHARE

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


	Three Months Ended				Nine Months Ended
(In thousands, except per share amounts)	December 30, 2023		December 31, 2022		December 30, 2023		December 31, 2022
Basic EPS
Net income	$	31,241	$	32,944	$	97,191	$	86,018
Weighted average shares	50,768		50,509		50,679		50,896
Basic income per share	$	0.62	$	0.65	$	1.92	$	1.69
Diluted EPS
Net income	$	31,241	$	32,944	$	97,191	$	86,018
Basic weighted average shares	50,768		50,509		50,679		50,896
Net effect of common stock equivalents	677		710		715		591
Diluted weighted average shares	51,445		51,219		51,394		51,487
Diluted income per share	$	0.61	$	0.64	$	1.89	$	1.67

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 the three and nine months ended December 30, 2023, weighted average shares outstanding, assuming dilution, excludes the impact of 0.6 million anti-dilutive shares for both periods. For the three and nine months ended December 31, 2022, weighted average shares outstanding, assuming dilution, excludes the impact and 0.4 million and 0.7 million anti-dilutive shares, respectively.

Share Repurchase Program

In August 2022, the Company announced that its Board of Directors had approved a three-year share repurchase program authorizing the repurchase of up to $300.0 million of Haemonetics common stock, based on market conditions, through August

2025. Under the share repurchase program, the Company is authorized to repurchase, from time to time, outstanding shares of common stock in accordance with applicable laws on the open market, including under trading plans established pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, and in privately negotiated transactions. The actual timing, number and value of shares repurchased will be determined by the Company at its discretion and will depend on a number of factors, including market conditions, applicable legal requirements and compliance with the terms of loan covenants. The share repurchase program may be suspended, modified or discontinued at any time, and the Company has no obligation to repurchase any amount of its common stock under the program.

In fiscal 2023, the Company completed a $75.0 million repurchase of its common stock pursuant to an accelerated share repurchase agreement entered into with Citibank N.A. in August 2022. As of December 30, 2023, the total remaining authorization for repurchases of the Company's common stock under the share repurchase program was $225.0 million.

LEASES	9 Months Ended
LEASES	Dec. 30, 2023
Leases [Abstract]
LEASES	10. LEASES Lessor Activity Assets on the Company’s balance sheet classified as Haemonetics equipment primarily consist 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 approximately 3 percent of the Company’s total net sales.

RESTRUCTURING (Schedule of Restructuring and Related Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Dec. 30, 2023	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 7,968	$ 44	$ 8,043	$ 165
Restructuring related costs	2,403	4,081	6,554	10,632
Total restructuring and restructuring related costs	10,371	4,125	14,597	10,797
2020 Program
Restructuring Cost and Reserve [Line Items]
Restructuring costs			356
Plasma
Restructuring Cost and Reserve [Line Items]
Restructuring costs	33	(50)	(164)	(261)
Restructuring related costs	72	241	315	989
Blood Center
Restructuring Cost and Reserve [Line Items]
Restructuring costs	4,546	0	4,546	0
Restructuring related costs	93	21	166	39
Hospital
Restructuring Cost and Reserve [Line Items]
Restructuring costs	2,503	0	2,745	0
Restructuring related costs	251	224	398	424
Corporate Segment
Restructuring Cost and Reserve [Line Items]
Restructuring costs	886	94	916	426
Restructuring related costs	1,987	3,595	5,675	9,180
Cost of goods sold
Restructuring Cost and Reserve [Line Items]
Restructuring costs	7,065	(49)	7,329	(226)
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 560	$ 93	$ 371	$ 391

STRATEGIC INVESTMENTS (Details) $ in Thousands, € in Millions	3 Months Ended	9 Months Ended
	Dec. 30, 2023 USD ($)	Dec. 30, 2023 USD ($)	Dec. 30, 2023 EUR (€)
Schedule of Investments [Line Items]
Gain (Loss) on Investments	$ 0	$ 0
Strategic Investments		$ 7,600
Vivasure Medical LTD
Schedule of Investments [Line Items]
Investment \| €			€ 30.0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASURES

9 Months Ended

Dec. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVES AND FAIR VALUE MEASUREMENTS

13. FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS

The Company manufactures, markets and sells its products globally. During the three and nine months ended December 30, 2023, 25.4% and 25.0%, respectively, 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 Japanese Yen and Euro, and to a lesser extent, Swiss Franc and 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 December 30, 2023 and April 1, 2023 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 $20.5 million as of December 30, 2023 and $51.8 million as of April 1, 2023. At December 30, 2023, a gain of $2.0 million, net of tax, will be reclassified to earnings within the next twelve months. All currency cash flow hedges outstanding as of December 30, 2023 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 $38.1 million as of December 30, 2023 and $44.7 million as of April 1, 2023.

Interest Rate Swaps

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.

On June 15, 2018, the Company entered into the 2018 Credit Facilities, which provided for a $350.0 million term loan and a $350.0 million revolving credit facility. In August 2018, the Company entered into two interest rate swap agreements to pay an average fixed rate of 2.80% plus the applicable rate on a total notional value of $241.9 million of debt, or 70% of the notional value of the unsecured term loan. As a result of the Company’s refinancing of the 2018 Credit Facilities in July 2022, as discussed below, the 2018 interest rate swaps were amended in September 2022 to align with the Term Secured Overnight Financing Rate (“SOFR”) rate rather than LIBOR (the “Amended Swaps”). In order to avoid dedesignation, the Company elected certain practical expedients under ASC 848. As a result, the Company’s earnings and cash flows are exposed to interest rate risk from changes to SOFR. The Amended Swaps matured on June 15, 2023.

On July 26, 2022, the Company entered into an amended and restated credit agreement to refinance the 2018 Credit Facilities and extend their maturity date through June 2025. The Revised Credit Facilities include a $280.0 million senior unsecured term loan and a $420.0 million senior unsecured revolving credit facility. Loans under the Revised Credit Facilities bear interest at an annual rate equal to the 1-month USD Term SOFR plus 0.10% and an applicable rate ranging from 1.125% to 1.750% based on the Company’s consolidated net leverage ratio. In September 2022, the Company entered into four additional interest rate swaps, which when combined with the Amended Swaps, resulted in an average blended fixed interest rate of 3.57% plus the applicable rate on 70% of the notional value of the unsecured term loan until mid-June 2023 and 4.12% plus the applicable rate thereafter on 80% of the notional value until the maturity date in June 2025. On June 15, 2023, two of the Company’s interest rate swaps entered into during September 2022 matured concurrently with the Amended Swaps. The Company has concluded that the two remaining interest rate swaps entered into during September 2022, which cover 80% of the notional value of the unsecured term loan through maturity in June 2025, are effective and qualify for hedge accounting treatment.

The Company held the following interest rate swaps as of December 30, 2023:


Hedged Item	Original Notional Amount		Notional Amount as of December 30, 2023		Designation Date	Effective Date	Termination Date	Fixed Interest Rate	Estimated Fair Value Assets (Liabilities)
(In thousands)




1-month USD Term SOFR	109,900		107,800		9/23/2022	6/15/2023	6/15/2025	4.08%	372
1-month USD Term SOFR	109,900		106,400		9/23/2022	6/15/2023	6/15/2025	4.15%	302
Total	$	219,800	$	214,200					$	674

For the nine months ended December 30, 2023, the Company recorded a gain of $1.3 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. To date, the Company has not experienced significant customer payment defaults, or identified other significant collectability concerns.

The following is a roll forward of the allowance for credit losses:


	Three Months Ended				Nine Months Ended
(In thousands)	December 30, 2023		December 31, 2022		December 30, 2023		December 31, 2022
Beginning balance	$	5,044	$	2,495	$	4,932	$	2,475
Credit loss	653		224		833		429
Recoveries (Write-offs)	28		19		(40)		(166)
Ending balance	$	5,725	$	2,738	$	5,725	$	2,738

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 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 unaudited Condensed Consolidated Statements of Income and Comprehensive Income for the nine months ended December 30, 2023:


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 Condensed Consolidated Statements of Income and Comprehensive Income	Amount of Gain Excluded from Effectiveness Testing		Location in Condensed Consolidated Statements of Income and Comprehensive Income
(In thousands)
Designated foreign currency hedge contracts, net of tax	$	1,992	$	(2,745)	Net revenues, COGS and SG&A	$	1,222	Interest and other expense, net
Non-designated foreign currency hedge contracts	$	—	$	—		$	1,363	Interest and other expense, net
Designated interest rate swaps, net of tax	$	1,312	$	2	Interest and other expense, net	$	—

The Company did not have fair value hedges or net investment hedges outstanding as of December 30, 2023 or April 1, 2023. As of December 30, 2023, 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 December 30, 2023, 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 Condensed Consolidated Balance Sheets as of December 30, 2023 and April 1, 2023:


(In thousands)	Location in Condensed Consolidated Balance Sheets	As of		As of
		December 30, 2023		April 1, 2023
Derivative Assets:
Designated foreign currency hedge contracts	Other current assets	$	668	$	1,401
Non-designated foreign currency hedge contracts	Other current assets	177		302
Designated interest rate swaps	Other current assets	1,146		1,110

		$	1,991	$	2,813
Derivative Liabilities:
Designated foreign currency hedge contracts	Other current liabilities	$	18	$	24
Non-designated foreign currency hedge contracts	Other current liabilities	179		58

Designated interest rate swaps	Other long-term liabilities	472		1,807
		$	669	$	1,889

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 December 30, 2023 and April 1, 2023.


	As of December 30, 2023
(In thousands)	Level 1		Level 2		Level 3		Total
Assets
Money market funds	$	7,583	$	—	$	—	$	7,583
Designated foreign currency hedge contracts	—		668		—		668
Non-designated foreign currency hedge contracts	—		177		—		177
Designated interest rate swaps	—		1,146		—		1,146
	$	7,583	$	1,991	$	—	$	9,574
Liabilities
Designated foreign currency hedge contracts	$	—	$	18	$	—	$	18
Non-designated foreign currency hedge contracts	—		179		—		179
Designated interest rate swaps	—		472		—		472

	$	—	$	669	$	—	$	669

	As of April 1, 2023
	Level 1		Level 2		Level 3		Total
Assets
Money market funds	$	132,341	$	—	$	—	$	132,341
Designated foreign currency hedge contracts	—		1,401		—		1,401
Non-designated foreign currency hedge contracts	—		302		—		302
Designated interest rate swaps	—		1,110		—		1,110
	$	132,341	$	2,813	$	—	$	135,154
Liabilities
Designated foreign currency hedge contracts	$	—	$	24	$	—	$	24
Non-designated foreign currency hedge contracts	—		58		—		58
Designated interest rate swaps	—		1,807		—		1,807
Contingent consideration	—		—		863		863
	$	—	$	1,889	$	863	$	2,752

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.

Other Fair Value Disclosures

The Term Loan, which is carried at amortized cost, accounts receivable and accounts payable approximate fair value. The fair value of the 2026 Notes as of December 30, 2023 was $445.2 million, which was determined by using the market price on the last trading day of the reporting period.

ACQUISITIONS AND STRATEGIC INVESTMENTS

9 Months Ended

Dec. 30, 2023

Investments, All Other Investments [Abstract]

Mergers, Acquisitions and Dispositions Disclosures

Strategic Investments

As part of the Company’s business development activities, it holds strategic investments in certain entities. During fiscal 2024, the Company has made strategic investments totaling $7.6 million. During fiscal year 2023, the Company made investments in Vivasure Medical LTD (“Vivasure”), totaling €30 million. The investments in Vivasure include both preferred stock and a special share that allows the Company to acquire Vivasure in accordance with an agreement between the parties. The Company’s strategic investments are classified as other long-term assets on the Company’s Condensed Consolidated Balance Sheets and the Company has not recorded any adjustments to the carrying value of the strategic investments during three and nine months ended December 30, 2023.

Acquisition of OpSens, Inc.

On October 10, 2023, the Company announced it had entered into an Arrangement Agreement with OpSens, Inc. (“OpSens”), a medical device cardiology-focused company delivering solutions based on its proprietary optical technology, pursuant to which, among other things, the Company agreed to acquire all of the issued and outstanding common shares of OpSens. On December 12, 2023, the Company completed its acquisition of OpSens for total consideration of approximately $254.5 million, or $243.9 million, net of cash acquired. The Company financed the acquisition through a combination of cash on hand and borrowings under its revolving credit facility.

OpSens offers commercially and clinically validated optical technology for use primarily in interventional cardiology. OpSens’ core products include the SavvyWire®, a sensor-guided 3-in-1 guidewire for TAVR procedures, advancing the workflow of the procedure and enabling potentially shorter hospital stays for patients; and the OptoWire®, a pressure guidewire that aims to improve clinical outcomes by accurately and consistently measuring Fractional Flow Reserve (FFR) and diastolic pressure ratio (dPR) to aid clinicians in the diagnosis and treatment of patients with coronary artery disease. OpSens also manufactures a range of fiber optic sensor solutions used in medical devices and other critical industrial applications. The addition of OpSens expands the Hospital business unit portfolio in the interventional cardiology market and will be included in the Hospital reportable segment.

Purchase Price Allocation

The Company accounted for the acquisition 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 fair values as of the acquisition date. The fair value of assets acquired and liabilities assumed have been recognized based on management’s estimates and assumptions using the information regarding facts and circumstances that existed at the closing date. The assessment of fair value is preliminary and is based on information that was available at the time the consolidated financial statements were prepared. The most significant open items include the valuation of certain intangible assets and the accounting for income taxes as the Company is awaiting additional information to complete its assessment of these matters. Measurement period adjustments will be recorded in the period in which they are determined, as if they had been completed at the acquisition date. The finalization of the Company’s purchase accounting assessment could result in changes in the valuation of assets acquired and liabilities assumed, which could be material. The final determination of the fair value of certain assets and liabilities will be completed within the measurement period as required by Topic 805. As of December 30, 2023, the valuation studies necessary to determine the fair market value of the assets acquired and liabilities assumed are preliminary, including the projection of the underlying cash flows used to determine the fair value of the identified tangible, intangible and financial assets and liabilities.


(In thousands)	December 12, 2023
Accounts receivable	$	5,960
Inventories	11,255
Prepaid expenses and other current assets	2,062
Property, plant and equipment	3,028
Intangible assets	180,500
Goodwill	87,079
Other long-term assets	4,705
Total assets acquired	$	294,589
Accounts payable	5,626
Accrued payroll and related costs	1,723
Other liabilities	7,277
Deferred tax liability	30,258
Other long-term liabilities	5,853
Total liabilities assumed	$	50,737
Net assets acquired	$	243,852

The Company determined the identifiable intangible assets were developed technology, customer contracts and related relationships and trade names. The fair values of intangible assets were based on valuation techniques with estimates and assumptions developed by the Company. Developed technology and customer contracts and related relationships were valued using the excess earnings 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. As of December 30, 2023, the valuation of the intangible assets is preliminary as the Company is still gathering information related to the assets’ cash flow projections.

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 OpSens, the Company recognized goodwill of $87.1 million based on expected synergies from integration into our Hospital business. 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
Developed technology	$	121,600	15 years	20.0	%
Customer contracts and related relationships	53,900		15 years	18.4	%
Trade names	5,000		15 years	20.0	%
Total	$	180,500

The Company recorded a long-term net deferred tax liability of $30.3 million primarily related to definite-lived 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 Company incurred $6.6 million of acquisition-related costs for the nine months ended December 30, 2023 in connection with the acquisition. These costs related to legal and other professional fees, which were recognized in selling, general and administrative on the Condensed Consolidated Statements of Income.

The Company’s condensed consolidated financial statements include the results of OpSens from the date the acquisition was completed. Pro forma financial information has not been presented as the acquisition is not material to the Company’s overall financial results.

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 30, 2023	Sep. 30, 2023	Jul. 01, 2023	Dec. 31, 2022	Oct. 01, 2022	Jul. 02, 2022	Dec. 30, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income	$ 31,241	$ 24,908	$ 41,042	$ 32,944	$ 33,197	$ 19,877	$ 97,191	$ 86,018

- Definition

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

+ References

+ Details

REVENUE	9 Months Ended
REVENUE	Dec. 30, 2023
Revenue from Contract with Customer [Abstract]
REVENUE	4. 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 December 30, 2023, the Company had $23.5 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 86% 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 and contract assets, as well as customer advances, customer deposits and deferred revenue (contract liabilities) on the Condensed 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 December 30, 2023 and April 1, 2023, the Company had contract liabilities of $31.1 million and $30.2 million, respectively. During the three and nine months ended December 30, 2023, the Company recognized $4.9 million and $25.4 million of revenue, respectively, that was included in the above April 1, 2023 contract liability balance. Contract liabilities are classified as other current liabilities on the Condensed Consolidated Balance Sheet. As of December 30, 2023 and April 1, 2023, the Company’s contract assets were immaterial.

- 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
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-9

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-15

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Paragraph 12
-Subparagraph (b)
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Subparagraph (c)
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
-Paragraph 12
-Subparagraph (d)
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-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-12

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org//606/tableOfContent

+ Details

SEGMENT AND ENTERPRISE-WIDE INFORMATION

9 Months Ended

Dec. 30, 2023

Segment Reporting [Abstract]

SEGMENT AND ENTERPRISE-WIDE INFORMATION

16. 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, amortization of acquired intangible assets, restructuring costs, restructuring related costs, digital transformation costs related to the upgrade of our enterprise resource planning system, impairments, accelerated device depreciation and related costs, costs related to compliance with the European Union Medical Device Regulation (“MDR”) and In Vitro Diagnostic Regulation (“IVDR”), unusual or infrequent and material litigation-related charges and gains and losses on dispositions and sale of assets. Although these amounts are excluded from segment operating income, as applicable, they are included in the reconciliations that follow. Management measures and evaluates the Company’s net revenues and operating income using internally derived standard currency exchange rates that remain constant from year to year; therefore, segment information is presented on this basis.

Selected information by reportable segment is presented below:


	Three Months Ended				Nine Months Ended
(In thousands)	December 30, 2023		December 31, 2022		December 30, 2023		December 31, 2022
Net revenues
Plasma	$	146,718	$	136,574	$	426,948	$	368,504
Blood Center	71,615		76,827		207,833		219,052
Hospital	113,794		93,889		316,688		275,635
Net revenues by business unit	332,127		307,290		951,469		863,191
Service (1)	5,586		5,372		16,395		15,918
Effect of exchange rates	(1,463)		(7,361)		(2,099)		(14,865)
Net revenues	$	336,250	$	305,301	$	965,765	$	864,244
(1) Reflects revenue for service, maintenance and parts


	Three Months Ended				Nine Months Ended
(In thousands)	December 30, 2023		December 31, 2022		December 30, 2023		December 31, 2022
Segment operating income
Plasma	$	80,450	$	76,365	$	234,190	$	203,098
Blood Center	27,654		35,005		81,244		102,710
Hospital	49,355		37,557		132,132		110,762
Segment operating income	157,459		148,927		447,566		416,570
Corporate expenses (1)	(83,694)		(93,501)		(234,753)		(261,854)
Effect of exchange rates	(401)		3,581		(879)		9,775
Amortization of acquired intangible assets	(6,911)		(8,078)		(21,606)		(24,666)
Integration and transaction costs	(4,869)		(287)		(7,768)		425
Restructuring costs	(7,968)		(44)		(8,043)		(165)
Restructuring related costs	(2,403)		(4,081)		(6,554)		(10,632)
Digital transformation costs	(3,415)		—		(10,712)		—
Impairment of assets and PCS2 related charges	(210)		2		(621)		269
MDR and IVDR costs	(1,433)		(2,483)		(4,587)		(8,175)
Litigation-related charges	(177)		(757)		(6,684)		(1,151)
Impairment of intangible assets	—		—		(10,419)		—
Gains on divestiture	—		—		—		382
Operating income	$	45,978	$	43,279	$	134,940	$	120,778
(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.

Net revenues by business unit are as follows:


		Three Months Ended				Nine Months Ended
(In thousands)		December 30, 2023		December 31, 2022		December 30, 2023		December 31, 2022
	Plasma	$	146,805	$	135,461	$	427,315	$	365,735

	Apheresis	50,666		52,398		151,380		152,287
	Whole Blood	19,814		20,964		54,538		60,452
	Blood Center	70,480		73,362		205,918		212,739

	Interventional Technologies(1)	43,007		32,154		119,169		91,297
	Hemostasis Management	41,423		34,921		116,241		102,737
	Other(2)	28,989		24,485		80,760		76,875
	Hospital	113,419		91,560		316,170		270,909

Net business unit revenues		330,704		300,383		949,403		849,383
	Service	5,546		4,918		16,362		14,861
Net revenues		$	336,250	$	305,301	$	965,765	$	864,244
(1) Interventional Cardiology includes Vascular Closure and Sensor Guided Technologies product lines of the Hospital business unit.
(2) Other includes the Cell Salvage and Transfusion Management product lines of the Hospital business unit.

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


	Three Months Ended				Nine Months Ended
(In thousands)	December 30, 2023		December 31, 2022		December 30, 2023		December 31, 2022
United States	$	250,804	$	224,104	$	724,222	$	617,824
Japan	14,825		15,552		41,609		44,559
Europe	37,035		39,105		115,088		121,412
Rest of Asia	30,935		25,454		80,710		77,739
Other	2,651		1,086		4,136		2,710
Net revenues	$	336,250	$	305,301	$	965,765	$	864,244

- 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
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-15

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-42

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-40

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//280/tableOfContent

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 26
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-26

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-34

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-41

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-21

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

+ Details

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASURES (Tables)

9 Months Ended

Dec. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Interest Rate Swaps

The Company held the following interest rate swaps as of December 30, 2023:


Hedged Item	Original Notional Amount		Notional Amount as of December 30, 2023		Designation Date	Effective Date	Termination Date	Fixed Interest Rate	Estimated Fair Value Assets (Liabilities)
(In thousands)




1-month USD Term SOFR	109,900		107,800		9/23/2022	6/15/2023	6/15/2025	4.08%	372
1-month USD Term SOFR	109,900		106,400		9/23/2022	6/15/2023	6/15/2025	4.15%	302
Total	$	219,800	$	214,200					$	674

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 Condensed Consolidated Statements of Income and Comprehensive Income	Amount of Gain Excluded from Effectiveness Testing		Location in Condensed Consolidated Statements of Income and Comprehensive Income
(In thousands)
Designated foreign currency hedge contracts, net of tax	$	1,992	$	(2,745)	Net revenues, COGS and SG&A	$	1,222	Interest and other expense, net
Non-designated foreign currency hedge contracts	$	—	$	—		$	1,363	Interest and other expense, net
Designated interest rate swaps, net of tax	$	1,312	$	2	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 Condensed Consolidated Balance Sheets as of December 30, 2023 and April 1, 2023:


(In thousands)	Location in Condensed Consolidated Balance Sheets	As of		As of
		December 30, 2023		April 1, 2023
Derivative Assets:
Designated foreign currency hedge contracts	Other current assets	$	668	$	1,401
Non-designated foreign currency hedge contracts	Other current assets	177		302
Designated interest rate swaps	Other current assets	1,146		1,110

		$	1,991	$	2,813
Derivative Liabilities:
Designated foreign currency hedge contracts	Other current liabilities	$	18	$	24
Non-designated foreign currency hedge contracts	Other current liabilities	179		58

Designated interest rate swaps	Other long-term liabilities	472		1,807
		$	669	$	1,889

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 December 30, 2023 and April 1, 2023.


	As of December 30, 2023
(In thousands)	Level 1		Level 2		Level 3		Total
Assets
Money market funds	$	7,583	$	—	$	—	$	7,583
Designated foreign currency hedge contracts	—		668		—		668
Non-designated foreign currency hedge contracts	—		177		—		177
Designated interest rate swaps	—		1,146		—		1,146
	$	7,583	$	1,991	$	—	$	9,574
Liabilities
Designated foreign currency hedge contracts	$	—	$	18	$	—	$	18
Non-designated foreign currency hedge contracts	—		179		—		179
Designated interest rate swaps	—		472		—		472

	$	—	$	669	$	—	$	669

	As of April 1, 2023
	Level 1		Level 2		Level 3		Total
Assets
Money market funds	$	132,341	$	—	$	—	$	132,341
Designated foreign currency hedge contracts	—		1,401		—		1,401
Non-designated foreign currency hedge contracts	—		302		—		302
Designated interest rate swaps	—		1,110		—		1,110
	$	132,341	$	2,813	$	—	$	135,154
Liabilities
Designated foreign currency hedge contracts	$	—	$	24	$	—	$	24
Non-designated foreign currency hedge contracts	—		58		—		58
Designated interest rate swaps	—		1,807		—		1,807
Contingent consideration	—		—		863		863
	$	—	$	1,889	$	863	$	2,752

Accounts Receivable, Allowance for Credit Loss

The following is a roll forward of the allowance for credit losses:


	Three Months Ended				Nine Months Ended
(In thousands)	December 30, 2023		December 31, 2022		December 30, 2023		December 31, 2022
Beginning balance	$	5,044	$	2,495	$	4,932	$	2,475
Credit loss	653		224		833		429
Recoveries (Write-offs)	28		19		(40)		(166)
Ending balance	$	5,725	$	2,738	$	5,725	$	2,738

EARNINGS PER SHARE (Tables)

9 Months Ended

Dec. 30, 2023

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.


	Three Months Ended				Nine Months Ended
(In thousands, except per share amounts)	December 30, 2023		December 31, 2022		December 30, 2023		December 31, 2022
Basic EPS
Net income	$	31,241	$	32,944	$	97,191	$	86,018
Weighted average shares	50,768		50,509		50,679		50,896
Basic income per share	$	0.62	$	0.65	$	1.92	$	1.69
Diluted EPS
Net income	$	31,241	$	32,944	$	97,191	$	86,018
Basic weighted average shares	50,768		50,509		50,679		50,896
Net effect of common stock equivalents	677		710		715		591
Diluted weighted average shares	51,445		51,219		51,394		51,487
Diluted income per share	$	0.61	$	0.64	$	1.89	$	1.67

RESTRUCTURING (Tables)

9 Months Ended

Dec. 30, 2023

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Reserve by Type of Cost

The following table summarizes the activity for restructuring reserves related to portfolio rationalization initiatives, the 2020 Program and prior programs for the nine months ended December 30, 2023, substantially all of which relates to employee severance and other employee costs:


(In thousands)	Portfolio Rationalization		2020 Program		Prior Programs		Total
Balance at April 1, 2023	$	—	$	1,810	$	340	$	2,150
Costs incurred, net of reversals	7,656		356		31		8,043
Payments	(126)		(1,006)		(58)		(1,190)
Balance at December 30, 2023	$	7,530	$	1,160	$	313	$	9,003

Schedule of Restructuring and Related Costs

The following presents the restructuring costs by line item within our accompanying unaudited Condensed Consolidated Statements of Income and Comprehensive Income:


	Three Months Ended				Nine Months Ended
(In thousands)	December 30, 2023		December 31, 2022		December 30, 2023		December 31, 2022
Cost of goods sold	$	7,065	$	(49)	$	7,329	$	(226)
Research and development	343		—		343		—
Selling, general and administrative expenses	560		93		371		391
Total	$	7,968	$	44	$	8,043	$	165


Restructuring costs	Three Months Ended				Nine Months Ended
(In thousands)	December 30, 2023		December 31, 2022		December 30, 2023		December 31, 2022
Plasma	$	33	$	(50)	$	(164)	$	(261)
Blood Center	4,546		—		4,546		—
Hospital	2,503		—		2,745		—
Corporate	886		94		916		426
Total	$	7,968	$	44	$	8,043	$	165

Restructuring related costs	Three Months Ended				Nine Months Ended
(In thousands)	December 30, 2023		December 31, 2022		December 30, 2023		December 31, 2022
Plasma	$	72	$	241	$	315	$	989
Blood Center	93		21		166		39
Hospital	251		224		398		424
Corporate	1,987		3,595		5,675		9,180
Total	$	2,403	$	4,081	$	6,554	$	10,632

Total restructuring and restructuring related costs	$	10,371	$	4,125	$	14,597	$	10,797

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASURES (Schedule of Interest Rate Swaps) (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Sep. 23, 2022	Aug. 31, 2022
Interest Rate Swap
Derivative [Line Items]
Notional amount	$ 214,200	$ 219,800	$ 241,900
Estimated Fair Value Assets (Liabilities)	674
Interest Rate Swap, 4.08% Fixed Interest Rate
Derivative [Line Items]
Notional amount	$ 107,800	109,900
Derivative fixed interest rate	408.00%
Estimated Fair Value Assets (Liabilities)	$ 372
Interest Rate Swap, 4.15% Fixed Interest Rate
Derivative [Line Items]
Notional amount	$ 106,400	$ 109,900
Derivative fixed interest rate	4.15%
Estimated Fair Value Assets (Liabilities)	$ 302

GOODWILL AND INTANGIBLE ASSETS - Maturity (Details) $ in Thousands	Dec. 30, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Finite-Lived Intangible Asset, Expected Amortization, Remainder of Fiscal Year	$ 12,211
Fiscal 2025	42,010
Fiscal 2026	36,583
Fiscal 2027	34,610
Fiscal 2028	$ 32,839

RESTRUCTURING

9 Months Ended

Dec. 30, 2023

Restructuring and Related Activities [Abstract]

RESTRUCTURING

5. RESTRUCTURING

On an ongoing basis, the Company reviews the global economy, the healthcare industry, and the markets in which it competes to identify opportunities for efficiencies, enhance commercial capabilities, align its resources and offer its customers better solutions. In order to realize these opportunities, the Company undertakes restructuring-type activities to transform its business.

Operating Excellence Program

In July 2019, the Board of Directors of the Company approved the Operational Excellence Program (the “2020 Program”) and delegated authority to the Company’s management to determine the detail of the initiatives that will comprise the program. During fiscal 2022, the Company revised the program to improve product and service quality, reduce cost principally in its manufacturing and supply chain operations and ensure sustainability while helping to offset impacts from a previously announced customer loss, rising inflationary pressures and effects of the COVID-19 pandemic. The Company expects to incur aggregate charges between $95 million and $105 million by the end of fiscal 2025 under the program. 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 the three and nine months ended December 30, 2023, the Company incurred $2.6 million and $6.8 million, respectively, of restructuring and restructuring related costs under this program. During the three and nine months ended December 31, 2022, the Company incurred $4.1 million and $10.7 million, respectively, of restructuring and restructuring related costs under this program. Total cumulative charges under this program are $74.0 million.

Portfolio Rationalization Initiatives

In November 2023, the Company announced its plans to end of life the ClotPro analyzer system within the Hospital business unit and whole blood inline collection products within the Blood Center business unit, including the associated manufacturing operations and closure of certain other facilities.


(In thousands)	Portfolio Rationalization		2020 Program		Prior Programs		Total
Balance at April 1, 2023	$	—	$	1,810	$	340	$	2,150
Costs incurred, net of reversals	7,656		356		31		8,043
Payments	(126)		(1,006)		(58)		(1,190)
Balance at December 30, 2023	$	7,530	$	1,160	$	313	$	9,003

The following presents the restructuring costs by line item within our accompanying unaudited Condensed Consolidated Statements of Income and Comprehensive Income:


	Three Months Ended				Nine Months Ended
(In thousands)	December 30, 2023		December 31, 2022		December 30, 2023		December 31, 2022
Cost of goods sold	$	7,065	$	(49)	$	7,329	$	(226)
Research and development	343		—		343		—
Selling, general and administrative expenses	560		93		371		391
Total	$	7,968	$	44	$	8,043	$	165

As of December 30, 2023, the Company had a restructuring liability of $9.0 million, of which approximately $8.7 million is payable within the next twelve months.

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

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


Restructuring costs	Three Months Ended				Nine Months Ended
(In thousands)	December 30, 2023		December 31, 2022		December 30, 2023		December 31, 2022
Plasma	$	33	$	(50)	$	(164)	$	(261)
Blood Center	4,546		—		4,546		—
Hospital	2,503		—		2,745		—
Corporate	886		94		916		426
Total	$	7,968	$	44	$	8,043	$	165

Restructuring related costs	Three Months Ended				Nine Months Ended
(In thousands)	December 30, 2023		December 31, 2022		December 30, 2023		December 31, 2022
Plasma	$	72	$	241	$	315	$	989
Blood Center	93		21		166		39
Hospital	251		224		398		424
Corporate	1,987		3,595		5,675		9,180
Total	$	2,403	$	4,081	$	6,554	$	10,632

Total restructuring and restructuring related costs	$	10,371	$	4,125	$	14,597	$	10,797

COVER PAGE - shares	9 Months Ended
COVER PAGE - shares	Dec. 30, 2023	Feb. 06, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 30, 2023
Document Transition Report	false
Entity File Number	001-14041
Entity Registrant Name	HAEMONETICS CORPORATION
Entity Central Index Key	0000313143
Current Fiscal Year End Date	--03-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		50,786,117

SEGMENT AND ENTERPRISE-WIDE INFORMATION (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 30, 2023 USD ($) segment	Dec. 31, 2022 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments \| segment			3
Net revenues before foreign exchange impact	$ 332,127	$ 307,290	$ 951,469	$ 863,191
Effect of exchange rates	(1,463)	(7,361)	(2,099)	(14,865)
Net revenues	336,250	305,301	965,765	864,244
Operating income	45,978	43,279	134,940	120,778
Effect of exchange rates	(401)	3,581	(879)	9,775
Amortization			21,606	24,666
Restructuring Costs	(7,968)	(44)
Restructuring and turnaround costs			(8,043)	(165)
Restructuring related costs	2,403	4,081	6,554	10,632
Digital transformation costs	3,415	0	10,712	0
Impairment of assets and PCS2 related charges	(210)	2	621	269
Intangible asset impairment	0	0	(10,419)	0
Integration and transaction costs	(4,869)	(287)	(7,768)	425
Amortization of acquired intangible assets	6,911	8,078	21,606	24,666
MDR and IVDR costs	(1,433)	(2,483)	(4,587)	(8,175)
Litigation-related charges	(177)	(757)	(6,684)	(1,151)
Gain on sale of assets	0	0	0	382
United States
Segment Reporting Information [Line Items]
Net revenues	250,804	224,104	724,222	617,824
Japan
Segment Reporting Information [Line Items]
Net revenues	14,825	15,552	41,609	44,559
Europe
Segment Reporting Information [Line Items]
Net revenues	37,035	39,105	115,088	121,412
Rest of Asia
Segment Reporting Information [Line Items]
Net revenues	30,935	25,454	80,710	77,739
Other
Segment Reporting Information [Line Items]
Net revenues	2,651	1,086	4,136	2,710
Service
Segment Reporting Information [Line Items]
Net revenues before foreign exchange impact	5,586	5,372	16,395	15,918
Net revenues	5,546	4,918	16,362	14,861
Plasma
Segment Reporting Information [Line Items]
Net revenues before foreign exchange impact	146,718	136,574	426,948	368,504
Restructuring related costs	72	241	315	989
Plasma \| Plasma products and services
Segment Reporting Information [Line Items]
Net revenues	146,805	135,461	427,315	365,735
Blood Center
Segment Reporting Information [Line Items]
Net revenues before foreign exchange impact	71,615	76,827	207,833	219,052
Restructuring related costs	93	21	166	39
Blood Center \| Blood Center products and services
Segment Reporting Information [Line Items]
Net revenues	70,480	73,362	205,918	212,739
Whole Blood, Blood Center \| Blood Center products and services
Segment Reporting Information [Line Items]
Net revenues	19,814	20,964	54,538	60,452
Apheresis, Blood Center \| Blood Center products and services
Segment Reporting Information [Line Items]
Net revenues	50,666	52,398	151,380	152,287
Hospital
Segment Reporting Information [Line Items]
Net revenues before foreign exchange impact	113,794	93,889	316,688	275,635
Restructuring related costs	251	224	398	424
Hospital \| Hospital products and services
Segment Reporting Information [Line Items]
Net revenues	113,419	91,560	316,170	270,909
Hemostasis Management, Hospital \| Hospital products and services
Segment Reporting Information [Line Items]
Net revenues	41,423	34,921	116,241	102,737
Vascular Closure, Hosptial \| Hospital products and services
Segment Reporting Information [Line Items]
Net revenues	43,007	32,154	119,169	91,297
Other, Hopsital \| Hospital products and services
Segment Reporting Information [Line Items]
Net revenues	28,989	24,485	80,760	76,875
Business Unit
Segment Reporting Information [Line Items]
Net revenues	330,704	300,383	949,403	849,383
Operating Segments
Segment Reporting Information [Line Items]
Operating income	157,459	148,927	447,566	416,570
Operating Segments \| Plasma
Segment Reporting Information [Line Items]
Operating income	80,450	76,365	234,190	203,098
Operating Segments \| Blood Center
Segment Reporting Information [Line Items]
Operating income	27,654	35,005	81,244	102,710
Operating Segments \| Hospital
Segment Reporting Information [Line Items]
Operating income	49,355	37,557	132,132	110,762
Corporate
Segment Reporting Information [Line Items]
Operating income	$ 83,694	$ 93,501	$ 234,753	$ 261,854

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Dec. 30, 2023	Dec. 31, 2022
Cash Flows from Operating Activities:
Net income	$ 97,191	$ 86,018
Non-cash items:
Depreciation and amortization	69,576	69,453
Share-based compensation expense	20,912	18,525
Impairment of assets	10,419	94
Amortization of deferred financing costs	2,393	1,098
Inventory reserve adjustment	6,904	483
Other non-cash operating activities	(2,430)	160
Change in operating assets and liabilities:
Change in accounts receivable	(27,743)	(24,370)
Change in inventories	(40,721)	34,506
Change in prepaid income taxes	1,730	1,970
Change in other assets and other liabilities	(15,619)	(10,664)
Change in accounts payable and accrued expenses	(4,942)	16,174
Net cash provided by operating activities	117,670	193,447
Cash Flows from Investing Activities:
Capital expenditures	(56,611)	(98,272)
Acquisitions	(243,852)	(2,850)
Proceeds from divestiture	0	850
Proceeds from sale of property, plant and equipment	1,259	7,695
Other investments	(10,129)	(33,205)
Net cash used in investing activities	(309,333)	(125,782)
Cash Flows from Financing Activities:
Term loan borrowings	0	280,000
Term loan redemption	0	(280,000)
Proceeds from revolving facility	110,000	50,000
Repayments of Long-term Lines of Credit	0	50,000
Debt issuance costs	0	(1,118)
Share repurchases	0	(75,000)
Repayment of term loan borrowings	(8,750)	(7,875)
Contingent consideration payments	(849)	(21,593)
Proceeds from employee stock purchase plan	5,603	4,378
Proceeds from exercise of stock options	1,505	2,479
Cash used to net share settle employee equity awards	(5,885)	0
Other financing activities	35	(32)
Net cash provided by (used in) financing activities	101,659	(98,761)
Effect of exchange rates on cash and cash equivalents	(484)	(4,398)
Net Change in Cash and Cash Equivalents	(90,488)	(35,494)
Cash and Cash Equivalents at Beginning of Period	284,466	259,496
Cash and Cash Equivalents at End of Period	193,978	224,002
Supplemental Disclosures of Cash Flow Information:
Transfers from inventory to fixed assets for placement of Haemonetics equipment	25,171	77,946
Repayments of Long-term Lines of Credit	$ 0	$ (50,000)

INCOME TAXES	9 Months Ended
INCOME TAXES	Dec. 30, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	6. INCOME TAXES 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 differs from the statutory tax rate due to 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 effective tax rate is adversely impacted by non-deductible expenses including executive compensation and transaction costs. For the three and nine months ended December 30, 2023, the Company reported income tax expense of $12.8 million and $31.3 million, respectively, representing effective tax rates of 29.0% and 24.3%, respectively. The effective tax rate for the nine months ended December 30, 2023 includes $1.1 million of discrete tax benefit, of which $2.6 million relates to stock compensation windfalls, partially offset by other discrete items. For the three and nine months ended December 31, 2022, the Company reported income tax expense of $9.3 million and $22.8 million, respectively, representing effective tax rates of 22.0% and 20.9%, respectively. The effective tax rate for the three months ended December 31, 2022 includes $0.1 million of discrete tax expense relating to stock compensation shortfalls. The effective tax rate for the nine months ended December 31, 2022 includes a discrete tax benefit of $0.5 million related to tax rate changes enacted in the period and $0.4 million of discrete tax expense relating to stock compensation shortfalls. The increase in the reported tax rates for the three and nine months ended December 30, 2023, compared to the same periods in fiscal 2023, relates primarily to unfavorable changes in the jurisdictional mix of earnings, research tax credits generated and non-deductible acquisition-related expenses, partially offset by discrete tax benefits from stock compensation windfall deductions.

- 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.

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+ Details

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Dec. 30, 2023	Apr. 01, 2023
Statement of Financial Position [Abstract]
Accounts receivable, allowance	$ 5,725	$ 4,932
Intangible assets, amortization	$ 442,810	$ 417,422
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	50,785,040	50,448,519
Common stock, shares outstanding (in shares)	50,785,040	50,448,519

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Dec. 30, 2023	Sep. 30, 2023	Jul. 01, 2023	Dec. 31, 2022	Oct. 01, 2022	Jul. 02, 2022	Dec. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of April 1, 2023			$ (30,381)				$ (30,381)
Other comprehensive income (loss) before reclassifications							8,742
Amounts reclassified from Accumulated Other Comprehensive Income (Loss)							(2,743)
Net current period other comprehensive income (loss)	$ 8,323	$ (3,187)	863	$ 4,456	$ (7,538)	$ (6,763)	5,999
Balance as of December 30, 2023	(24,382)						(24,382)
Foreign Currency
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of April 1, 2023			(33,935)				(33,935)
Other comprehensive income (loss) before reclassifications							5,438
Amounts reclassified from Accumulated Other Comprehensive Income (Loss)							0
Net current period other comprehensive income (loss)							5,438
Balance as of December 30, 2023	(28,497)						(28,497)
Defined Benefit Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of April 1, 2023			4,075				4,075
Other comprehensive income (loss) before reclassifications							0
Amounts reclassified from Accumulated Other Comprehensive Income (Loss)							0
Net current period other comprehensive income (loss)							0
Balance as of December 30, 2023	4,075						4,075
Net Unrealized Gain/(Loss) on Derivatives
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance as of April 1, 2023			$ (521)				(521)
Other comprehensive income (loss) before reclassifications							3,304
Amounts reclassified from Accumulated Other Comprehensive Income (Loss)							(2,743)
Net current period other comprehensive income (loss)							561
Balance as of December 30, 2023	$ 40						$ 40

- Definition

Amount, after tax, of accumulated increase (decrease) in equity from transaction and other event and circumstance from nonowner source.

+ References + Details

- Definition

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

+ References

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+ Details

ACCUMULATED OTHER COMPREHENSIVE LOSS

9 Months Ended

Dec. 30, 2023

Stockholders' Equity Note [Abstract]

ACCUMULATED OTHER COMPREHENSIVE LOSS

15. ACCUMULATED OTHER COMPREHENSIVE LOSS

The components of Accumulated Other Comprehensive Loss are as follows:


(In thousands)	Foreign Currency		Defined Benefit Plans		Net Unrealized Gain/(Loss) on Derivatives		Total
Balance as of April 1, 2023	$	(33,935)	$	4,075	$	(521)	$	(30,381)
Other comprehensive income (loss) before reclassifications(1)	5,438		—		3,304		8,742
Amounts reclassified from accumulated other comprehensive income(1)	—		—		(2,743)		(2,743)
Net current period other comprehensive income (loss)	5,438		—		561		5,999
Balance as of December 30, 2023	$	(28,497)	$	4,075	$	40	$	(24,382)
(1) Presented net of income taxes, the amounts of which are insignificant.

- Definition

The entire disclosure for equity.

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-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481112/505-10-50-18

+ Details

REVENUE (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
REVENUE (Details) - USD ($) $ in Millions	Dec. 30, 2023	Dec. 30, 2023	Apr. 01, 2023
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Performance obligation amount	$ 23.5	$ 23.5
Performance obligation percent	86.00%	86.00%
Contract liabilities	$ 31.1	$ 31.1	$ 30.2
Revenue recognized	$ 4.9	$ 25.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-06-28
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Expected timing of satisfaction	12 months	12 months

Property, Plant, and Equipment (Tables)

3 Months Ended

Dec. 30, 2023

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment


(In thousands)	December 30, 2023		April 1, 2023
Land	$	5,573	$	5,358
Building and building improvements	119,024		127,634
Plant equipment and machinery	200,154		194,539
Office equipment and information technology	129,488		123,611
Haemonetics equipment	480,083		463,706
Construction in progress	44,969		29,367
Total	979,291		944,215
Less: accumulated depreciation	(660,626)		(633,330)
Property, plant and equipment, net	$	318,665	$	310,885

GOODWILL AND INTANGIBLE ASSETS Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Apr. 01, 2023
Amortizable:
Gross Carrying Amount	$ 850,735	$ 672,720
Accumulated Amortization	442,810	417,422
Net	407,925	255,298
Non-amortizable intangibles	21,345	20,473
In-process software development
Amortizable:
Non-amortizable intangibles	3,877	3,841
In-process patents
Amortizable:
Non-amortizable intangibles	3,801	2,965
In Process Research and Development
Amortizable:
Non-amortizable intangibles	13,667	13,667
Patents
Amortizable:
Gross Carrying Amount	18,504	18,504
Accumulated Amortization	11,562	10,831
Net	6,942	7,673
Capitalized software
Amortizable:
Gross Carrying Amount	84,443	78,962
Accumulated Amortization	67,169	60,776
Net	17,274	18,186
Other developed technology
Amortizable:
Gross Carrying Amount	474,406	362,506
Accumulated Amortization	169,844	153,099
Net	304,562	209,407
Customer contracts and related relationships
Amortizable:
Gross Carrying Amount	258,720	203,240
Accumulated Amortization	188,977	187,774
Net	69,743	15,466
Trade names
Amortizable:
Gross Carrying Amount	14,662	9,508
Accumulated Amortization	5,258	4,942
Net	$ 9,404	$ 4,566

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive (Loss)/Income
Balance (in shares) at Apr. 02, 2022		51,124,000
Balance at Apr. 02, 2022	$ 749,424	$ 511	$ 572,476	$ 202,391	$ (25,954)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Employee stock purchase plan (in shares)		57,000
Employee stock purchase plan	2,459		2,459
Exercise of stock options (in shares)		3,000
Exercise of stock options	127	$ 1	126
Issuance of restricted stock, net of cancellations (in shares)		131,000
Issuance of restricted stock, net of cancellations	0	$ 1	(1)
Share-based compensation expense	5,299		5,299
Net income	19,877			19,877
Other comprehensive income (loss)	(6,763)				(6,763)
Balance (in shares) at Jul. 02, 2022		51,315,000
Balance at Jul. 02, 2022	770,423	$ 513	580,359	222,268	(32,717)
Balance (in shares) at Apr. 02, 2022		51,124,000
Balance at Apr. 02, 2022	749,424	$ 511	572,476	202,391	(25,954)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	86,018
Balance (in shares) at Dec. 31, 2022		50,444,000
Balance at Dec. 31, 2022	775,979	$ 504	587,489	223,785	(35,799)
Balance (in shares) at Jul. 02, 2022		51,315,000
Balance at Jul. 02, 2022	770,423	$ 513	580,359	222,268	(32,717)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)		50,000
Exercise of stock options	$ 2,192	$ 1	2,191
Shares repurchased (in shares)	(786,000)
Shares repurchased	$ (75,000)	$ (8)	(23,891)	(51,101)
Issuance of restricted stock, net of cancellations (in shares)		26,000
Share-based compensation expense	5,735		5,735
Net income	33,197			33,197
Other comprehensive income (loss)	(7,538)				(7,538)
Balance (in shares) at Oct. 01, 2022		50,605,000
Balance at Oct. 01, 2022	729,009	$ 506	564,394	204,364	(40,255)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Employee stock purchase plan (in shares)		45,000
Employee stock purchase plan	1,919		1,919
Exercise of stock options (in shares)		3,000
Exercise of stock options	$ 160		160
Shares repurchased (in shares)	(211,000)
Shares repurchased	$ 0	$ (2)	13,525	(13,523)
Issuance of restricted stock, net of cancellations (in shares)		2,000
Issuance of restricted stock, net of cancellations	0	$ 0	0
Share-based compensation expense	7,491		7,491
Net income	32,944
Other comprehensive income (loss)	4,456				4,456
Balance (in shares) at Dec. 31, 2022		50,444,000
Balance at Dec. 31, 2022	775,979	$ 504	587,489	223,785	(35,799)
Balance (in shares) at Apr. 01, 2023		50,449,000
Balance at Apr. 01, 2023	817,997	$ 504	594,706	253,168	(30,381)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Employee stock purchase plan (in shares)		40,000
Employee stock purchase plan	2,871		2,871
Exercise of stock options (in shares)		145,000
Exercise of stock options	627	$ 2	5,858	(5,233)
Issuance of restricted stock, net of cancellations (in shares)		140,000
Issuance of restricted stock, net of cancellations	0	$ 2	(2)
Tax withholding on employee equity awards (in shares)		(68,000)
Tax withholding on employee equity awards	(5,773)	$ (1)	(812)	(4,960)
Share-based compensation expense	6,989		6,989
Net income	41,042			41,042
Other comprehensive income (loss)	863				863
Balance (in shares) at Jul. 01, 2023		50,706,000
Balance at Jul. 01, 2023	864,616	$ 507	609,610	284,017	(29,518)
Balance (in shares) at Apr. 01, 2023		50,449,000
Balance at Apr. 01, 2023	817,997	$ 504	594,706	253,168	(30,381)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	97,191
Other comprehensive income (loss)	5,999
Balance (in shares) at Dec. 30, 2023		50,785,000
Balance at Dec. 30, 2023	943,319	$ 508	627,094	340,099	(24,382)
Balance (in shares) at Jul. 01, 2023		50,706,000
Balance at Jul. 01, 2023	864,616	$ 507	609,610	284,017	(29,518)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)		12,000
Exercise of stock options	692	$ 0	655	37
Issuance of restricted stock, net of cancellations (in shares)		22,000
Tax withholding on employee equity awards (in shares)		0
Tax withholding on employee equity awards	(75)	$ 0	(11)	(64)
Share-based compensation expense	6,706		6,706
Net income	24,908			24,908
Other comprehensive income (loss)	(3,187)				(3,187)
Balance (in shares) at Sep. 30, 2023		50,740,000
Balance at Sep. 30, 2023	893,660	$ 507	616,960	308,898	(32,705)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Employee stock purchase plan (in shares)		39,000
Employee stock purchase plan	2,732		2,732
Exercise of stock options (in shares)		4,000
Exercise of stock options	186	$ 1	189	(4)
Issuance of restricted stock, net of cancellations (in shares)		3,000
Tax withholding on employee equity awards (in shares)		(1,000)
Tax withholding on employee equity awards	(40)	$ 0	(4)	(36)
Share-based compensation expense	7,217		7,217
Net income	31,241			31,241
Other comprehensive income (loss)	8,323				8,323
Balance (in shares) at Dec. 30, 2023		50,785,000
Balance at Dec. 30, 2023	$ 943,319	$ 508	$ 627,094	$ 340,099	$ (24,382)

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASURES (Narrative) (Details)		1 Months Ended			3 Months Ended	9 Months Ended
	Jun. 15, 2023 swap	Sep. 30, 2022 swap	Aug. 31, 2022 USD ($)	Aug. 31, 2018 swap	Dec. 30, 2023 USD ($) segment	Dec. 30, 2023 USD ($) segment	Apr. 01, 2023 USD ($)	Sep. 23, 2022 USD ($)	Jul. 26, 2022 USD ($)	Jun. 15, 2018 USD ($)
Derivative [Line Items]
Number of Interest Rate Swaps Remaining \| segment					2	2
Level 2
Derivative [Line Items]
Convertible notes, fair value					$ 445,200,000	$ 445,200,000
Fair Value, Recurring [Member]
Derivative [Line Items]
Liabilities fair value					669,000	669,000	$ 2,752,000
Fair Value, Recurring [Member] \| Level 2
Derivative [Line Items]
Liabilities fair value					669,000	669,000	1,889,000
Term Loan
Derivative [Line Items]
Face amount of debt									$ 280,000,000	$ 350,000,000
Revolving Credit Facility
Derivative [Line Items]
Maximum borrowing capacity									$ 420,000,000	$ 350,000,000
Debt outstanding					$ 110,000,000	$ 110,000,000
Revolving Credit Facility \| Secured Overnight Financing Rate (SOFR) One-Month USD Term Rate
Derivative [Line Items]
Interest rate			0.10%
Revolving Credit Facility \| Secured Overnight Financing Rate (SOFR) One-Month USD Term Rate \| Minimum
Derivative [Line Items]
Stated rate (as a percent)			1.125%
Revolving Credit Facility \| Secured Overnight Financing Rate (SOFR) One-Month USD Term Rate \| Maximum
Derivative [Line Items]
Stated rate (as a percent)			1.75%
Foreign Exchange Contract
Derivative [Line Items]
Percentage of sales generated outside the US					25.40%	25.00%
Maturity period for foreign currency contracts						1 year
Interest Rate Swap
Derivative [Line Items]
Number of interest rate swaps entered \| swap	2	4		2
Derivative, average fixed interest rate			2.80%
Derivative, percentage of notional value of debt	80.00%	70.00%	70.00%
Derivative, blended fixed interest rate	4.12%	3.57%
Notional amount			$ 241,900,000		$ 214,200,000	$ 214,200,000		$ 219,800,000
Contingent Consideration \| Fair Value, Recurring [Member]
Derivative [Line Items]
Liabilities fair value							863,000
Designated as Hedging Instrument \| Foreign Exchange Contract
Derivative [Line Items]
Deferred income tax expense (benefit)					0	0
Designated as Hedging Instrument \| Foreign Exchange Contract
Derivative [Line Items]
Designated foreign currency hedge contracts outstanding					20,500,000	20,500,000	51,800,000
Designated as Hedging Instrument \| Cash Flow Hedging
Derivative [Line Items]
Gain (loss) to be reclassified within the next twelve months						2,000,000
Designated as Hedging Instrument \| Interest Rate Swap
Derivative [Line Items]
Debt outstanding					266,000,000	266,000,000
Not Designated as Hedging Instrument \| Foreign Exchange Contract
Derivative [Line Items]
Non-designated foreign currency hedge contracts outstanding					$ 38,100,000	$ 38,100,000	$ 44,700,000

FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS - Allowance for credit losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Dec. 30, 2023	Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 5,044	$ 2,495	$ 4,932	$ 2,475
Credit loss	653	224	833	429
Recoveries (Write-offs)	28	19	(40)	(166)
Ending balance	$ 5,725	$ 2,738	$ 5,725	$ 2,738

INVENTORIES (Tables)

9 Months Ended

Dec. 30, 2023

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)	December 30, 2023		April 1, 2023
Raw materials	$	135,057	$	115,016
Work-in-process	18,374		12,572
Finished goods	150,593		131,791
Total inventories	$	304,024	$	259,379

COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	9 Months Ended
COMMITMENTS AND CONTINGENCIES (Details) $ in Millions	Dec. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Loss Contingency Accrual	$ 8.8
Inventory Recall Expense	$ 6.8

GOODWILL AND INTANGIBLE ASSETS (Tables)

9 Months Ended

Dec. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The changes in the carrying amount of goodwill by operating segment for fiscal 2024 are as follows:


(In thousands)	Plasma		Blood Center		Hospital		Total
Carrying amount as of April 1, 2023	$	29,043	$	33,855	$	403,333	$	466,231


Acquisitions	—		—		87,079		87,079
Currency translation	—		(140)		1,829		1,689
Carrying amount as of December 30, 2023	$	29,043	$	33,715	$	492,241	$	554,999

Schedule of Finite-Lived Intangible Assets

The gross carrying amount of intangible assets and the related accumulated amortization as of December 30, 2023 and April 1, 2023 is as follows:


(In thousands)	Gross Carrying Amount		Accumulated Amortization		Net

As of December 30, 2023
Amortizable:
Patents	$	18,504	$	11,562	$	6,942
Capitalized software	84,443		67,169		17,274
Other developed technology	474,406		169,844		304,562
Customer contracts and related relationships	258,720		188,977		69,743
Trade names	14,662		5,258		9,404
Total	$	850,735	$	442,810	$	407,925
Non-amortizable:
In-process software development	$	3,877
In-process research and development	13,667
In-process patents	3,801
Total	$	21,345


(In thousands)	Gross Carrying Amount		Accumulated Amortization		Net

As of April 1, 2023
Amortizable:
Patents	$	18,504	$	10,831	$	7,673
Capitalized software	78,962		60,776		18,186
Other developed technology	362,506		153,099		209,407
Customer contracts and related relationships	203,240		187,774		15,466
Trade names	9,508		4,942		4,566
Total	$	672,720	$	417,422	$	255,298
Non-amortizable:
In-process software development	$	3,841
In-process research and development	13,667
In-process patents	2,965
Total	$	20,473

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Future annual amortization expense on intangible assets for the next five years is estimated to be as follows:


(In thousands)
Remainder of Fiscal 2024	$	12,211
Fiscal 2025	$	42,010
Fiscal 2026	$	36,583
Fiscal 2027	$	34,610
Fiscal 2028	$	32,839

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-2

+ Details

ACQUISITIONS (Details) - USD ($) $ in Thousands		9 Months Ended
ACQUISITIONS (Details) - USD ($) $ in Thousands	Dec. 12, 2023	Dec. 30, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired		$ 243,852	$ 2,850
OpSens, Inc.
Business Acquisition [Line Items]
Upfront payment	$ 254,500
Payments to Acquire Businesses, Net of Cash Acquired	243,900
OpSens, Inc. \| Selling, general and administrative expenses
Business Acquisition [Line Items]
Legal and professional fees	$ 6,600

SEGMENT AND ENTERPRISE-WIDE INFORMATION (Tables)

9 Months Ended

Dec. 30, 2023

Segment Reporting [Abstract]

Selected Information by Business Segment

Selected information by reportable segment is presented below:


	Three Months Ended				Nine Months Ended
(In thousands)	December 30, 2023		December 31, 2022		December 30, 2023		December 31, 2022
Net revenues
Plasma	$	146,718	$	136,574	$	426,948	$	368,504
Blood Center	71,615		76,827		207,833		219,052
Hospital	113,794		93,889		316,688		275,635
Net revenues by business unit	332,127		307,290		951,469		863,191
Service (1)	5,586		5,372		16,395		15,918
Effect of exchange rates	(1,463)		(7,361)		(2,099)		(14,865)
Net revenues	$	336,250	$	305,301	$	965,765	$	864,244
(1) Reflects revenue for service, maintenance and parts


	Three Months Ended				Nine Months Ended
(In thousands)	December 30, 2023		December 31, 2022		December 30, 2023		December 31, 2022
Segment operating income
Plasma	$	80,450	$	76,365	$	234,190	$	203,098
Blood Center	27,654		35,005		81,244		102,710
Hospital	49,355		37,557		132,132		110,762
Segment operating income	157,459		148,927		447,566		416,570
Corporate expenses (1)	(83,694)		(93,501)		(234,753)		(261,854)
Effect of exchange rates	(401)		3,581		(879)		9,775
Amortization of acquired intangible assets	(6,911)		(8,078)		(21,606)		(24,666)
Integration and transaction costs	(4,869)		(287)		(7,768)		425
Restructuring costs	(7,968)		(44)		(8,043)		(165)
Restructuring related costs	(2,403)		(4,081)		(6,554)		(10,632)
Digital transformation costs	(3,415)		—		(10,712)		—
Impairment of assets and PCS2 related charges	(210)		2		(621)		269
MDR and IVDR costs	(1,433)		(2,483)		(4,587)		(8,175)
Litigation-related charges	(177)		(757)		(6,684)		(1,151)
Impairment of intangible assets	—		—		(10,419)		—
Gains on divestiture	—		—		—		382
Operating income	$	45,978	$	43,279	$	134,940	$	120,778
(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.

Schedule of Revenues by Business Unit and Geographic Regions

Net revenues by business unit are as follows:


		Three Months Ended				Nine Months Ended
(In thousands)		December 30, 2023		December 31, 2022		December 30, 2023		December 31, 2022
	Plasma	$	146,805	$	135,461	$	427,315	$	365,735

	Apheresis	50,666		52,398		151,380		152,287
	Whole Blood	19,814		20,964		54,538		60,452
	Blood Center	70,480		73,362		205,918		212,739

	Interventional Technologies(1)	43,007		32,154		119,169		91,297
	Hemostasis Management	41,423		34,921		116,241		102,737
	Other(2)	28,989		24,485		80,760		76,875
	Hospital	113,419		91,560		316,170		270,909

Net business unit revenues		330,704		300,383		949,403		849,383
	Service	5,546		4,918		16,362		14,861
Net revenues		$	336,250	$	305,301	$	965,765	$	864,244
(1) Interventional Cardiology includes Vascular Closure and Sensor Guided Technologies product lines of the Hospital business unit.
(2) Other includes the Cell Salvage and Transfusion Management product lines of the Hospital business unit.

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


	Three Months Ended				Nine Months Ended
(In thousands)	December 30, 2023		December 31, 2022		December 30, 2023		December 31, 2022
United States	$	250,804	$	224,104	$	724,222	$	617,824
Japan	14,825		15,552		41,609		44,559
Europe	37,035		39,105		115,088		121,412
Rest of Asia	30,935		25,454		80,710		77,739
Other	2,651		1,086		4,136		2,710
Net revenues	$	336,250	$	305,301	$	965,765	$	864,244

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Dec. 31, 2022	Dec. 30, 2023	Dec. 31, 2022
Income Tax Contingency [Line Items]
Provision for income taxes	$ 12,788	$ 9,280	$ 31,260	$ 22,759
Reported tax rate	29.00%	22.00%	24.30%	20.90%
Discrete tax benefit (expense)			$ (1,100)
Stock Compensation Shortfalls
Income Tax Contingency [Line Items]
Discrete tax benefit (expense)		$ (100)		$ (400)
Stock Compensation Windfalls
Income Tax Contingency [Line Items]
Discrete tax benefit (expense)			$ (2,600)
Tax Rate Change
Income Tax Contingency [Line Items]
Discrete tax benefit (expense)				$ (500)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	14. 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 requested 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 has fully cooperated with this inquiry. On August 16, 2022, the U.S. Department of Justice (“DOJ”) filed a motion on behalf of the United States and 31 states reflecting their decision to not intervene in the underlying qui tam action captioned United States ex rel. Berthelot et al. v. Haemonetics Corp., 1:20-cv-11062-ADB, pending in the U.S. District Court for the District of Massachusetts, indicating that the DOJ had completed its investigative activity based on then available information. The qui tam case was unsealed by order dated August 18, 2022. On January 12, 2024, the Company entered into an agreement with the individual plaintiffs in the qui tam case that provides for settlement of certain unrelated employment matters and releases those individuals’ claims. The Company previously recorded a loss contingency for these matters and did not record any adjustments during the third quarter of fiscal 2024. On January 16, 2024, the relators in the qui tam case filed a stipulation of dismissal of their claims against the Company. The court dismissed the qui tam claims with prejudice as to the relators and without prejudice as to the government. 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. The Company removed the case to the United States District Court for the Northern District Illinois. 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 fingerprint on a finger scanner that stored her fingerprint 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 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. In March 2023, the Company filed a second motion to dismiss the complaint, which is pending before the court. During the second quarter of fiscal 2024, the Company entered into a Memorandum of Understanding providing terms that would resolve the litigation and recorded an additional loss contingency related to this matter. In the third quarter of fiscal 2024, the parties requested preliminary court approval of a final settlement agreement and the Company recorded an immaterial additional loss contingency related to settlement administration, resulting in a total accrual of $8.8 million within Other current liabilities in its Condensed Consolidated Balance Sheets. Product Recall In August 2023, the Company issued a voluntary recall of certain products within the Whole Blood portion of our Blood Center business unit sold to customers in the U.S. and certain foreign jurisdictions. As of December 30, 2023, the Company has recorded cumulative charges of $6.8 million related to inventory, returns and customer claims associated with this recall. The Company continues to evaluate the impact of this recall and may record additional incremental charges in future periods.

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 30, 2023	Apr. 01, 2023
Current assets:
Cash and cash equivalents	$ 193,978	$ 284,466
Accounts receivable, less allowance for credit losses of $5,725 at December 30, 2023 and $4,932 at April 1, 2023	211,611	179,142
Inventories, net	304,024	259,379
Prepaid expenses and other current assets	55,369	46,735
Total current assets	764,982	769,722
Property, plant and equipment, net	318,665	310,885
Intangible assets, less accumulated amortization of $442,810 at December 30, 2023 and $417,422 at April 1, 2023	429,270	275,771
Goodwill	554,999	466,231
Deferred tax asset	5,070	5,241
Other long-term assets	127,442	106,975
Total assets	2,200,428	1,934,825
Current liabilities:
Notes payable and current maturities of long-term debt	13,736	11,784
Accounts payable	56,845	63,929
Accrued payroll and related costs	58,762	64,475
Other current liabilities	132,412	111,628
Total current liabilities	261,755	251,816
Long-term debt	856,849	754,102
Deferred tax liability	62,246	36,195
Other long-term liabilities	76,259	74,715
Stockholders’ equity:
Common stock, $0.01 par value; Authorized — 150,000,000 shares; Issued and outstanding — 50,785,040 shares at December 30, 2023 and 50,448,519 shares at April 1, 2023	508	504
Additional paid-in capital	627,094	594,706
Retained earnings	340,099	253,168
Accumulated other comprehensive loss	(24,382)	(30,381)
Stockholders’ equity:	943,319	817,997
Total liabilities and stockholders’ equity	$ 2,200,428	$ 1,934,825

INVENTORIES (Schedule of Inventories) (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Apr. 01, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 135,057	$ 115,016
Work-in-process	18,374	12,572
Finished goods	150,593	131,791
Inventories, net	304,024	$ 259,379
Inventory Adjustments	$ 4,300

RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
RECENT ACCOUNTING PRONOUNCEMENTS	Dec. 30, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	2. RECENT ACCOUNTING PRONOUNCEMENTS Standards to be Implemented In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Codification (“ASC”) Update No. 2023-07, Segment Reporting (Topic 280). The new guidance requires public entities to provide expanded disclosures over significant segment expenses and additional disclosures related to the chief operating decision maker. ASC Update No. 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024, with early adoption permitted. The new guidance is applicable to Haemonetics beginning with the fiscal 2025 Annual Report on Form 10-K. The Company is currently evaluating the impact to its interim and annual report disclosures. In December 2023, the FASB issued ASC Update No. 2023-09, Income Taxes (Topic 740). ASC Update No. 2023-09 requires public entities to provide detailed income tax disclosures, including rate reconciliations and disaggregated income tax payment information, on an annual basis. The updated guidance is effective for fiscal years beginning after December 15, 2024 and early adoption is permitted. ASC Update No. 2023-09 is applicable to Haemonetics beginning with the fiscal 2026 Annual Report on Form 10-K and the Company is currently evaluating the impact to its annual report disclosures.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

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+ Details

RESTRUCTURING (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Dec. 30, 2023	Dec. 31, 2022	Apr. 01, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring liability	$ 9,003		$ 9,003		$ 2,150
Restructuring liability payable in next twelve months	8,700		8,700
2020 Program
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	2,600	$ 4,100	6,800	$ 10,700
Cumulative costs to date	74,000		74,000
Restructuring liability	1,160		1,160		$ 1,810
2020 Program \| Minimum
Restructuring Cost and Reserve [Line Items]
Expected cost	95,000		95,000
2020 Program \| Maximum
Restructuring Cost and Reserve [Line Items]
Expected cost	$ 105,000		$ 105,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Dec. 30, 2023	Dec. 31, 2022
Income Statement [Abstract]
Net revenues	$ 336,250	$ 305,301	$ 965,765	$ 864,244
Cost of goods sold	158,383	146,594	450,123	405,396
Gross profit	177,867	158,707	515,642	458,848
Operating expenses:
Research and development	13,265	12,689	38,578	34,487
Selling, general and administrative	111,713	94,661	310,099	278,917
Amortization of acquired intangible assets	6,911	8,078	21,606	24,666
Impairment of assets	0	0	10,419	0
Total operating expenses	131,889	115,428	380,702	338,070
Operating income	45,978	43,279	134,940	120,778
Interest and other expense, net	(1,949)	(1,055)	(6,489)	(12,001)
Income before provision for income taxes	44,029	42,224	128,451	108,777
Provision for income taxes	12,788	9,280	31,260	22,759
Net income	$ 31,241	$ 32,944	$ 97,191	$ 86,018
Basic income (loss) per share (in dollars per share)	$ 0.62	$ 0.65	$ 1.92	$ 1.69
Diluted income (loss) per share (in dollars per share)	$ 0.61	$ 0.64	$ 1.89	$ 1.67
Weighted average shares outstanding
Basic (in shares)	50,768	50,509	50,679	50,896
Diluted (in shares)	51,445	51,219	51,394	51,487
Comprehensive income	$ 39,564	$ 37,400	$ 103,190	$ 76,173

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

9 Months Ended

Dec. 30, 2023

Stockholders' Equity Note [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The components of Accumulated Other Comprehensive Loss are as follows:


(In thousands)	Foreign Currency		Defined Benefit Plans		Net Unrealized Gain/(Loss) on Derivatives		Total
Balance as of April 1, 2023	$	(33,935)	$	4,075	$	(521)	$	(30,381)
Other comprehensive income (loss) before reclassifications(1)	5,438		—		3,304		8,742
Amounts reclassified from accumulated other comprehensive income(1)	—		—		(2,743)		(2,743)
Net current period other comprehensive income (loss)	5,438		—		561		5,999
Balance as of December 30, 2023	$	(28,497)	$	4,075	$	40	$	(24,382)
(1) Presented net of income taxes, the amounts of which are insignificant.

INVENTORIES

9 Months Ended

Dec. 30, 2023

Inventory Disclosure [Abstract]

INVENTORIES

8. 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)	December 30, 2023		April 1, 2023
Raw materials	$	135,057	$	115,016
Work-in-process	18,374		12,572
Finished goods	150,593		131,791
Total inventories	$	304,024	$	259,379

In August 2023, the Company issued a voluntary recall of certain products within the Whole Blood portion of our Blood Center business unit sold to customers in the U.S. and certain foreign jurisdictions. As of December 30, 2023, the Company has recorded charges of $4.3 million related to inventory.

NOTES PAYABLE AND LONG-TERM DEBT (Details) - USD ($)		1 Months Ended	3 Months Ended	6 Months Ended	9 Months Ended
NOTES PAYABLE AND LONG-TERM DEBT (Details) - USD ($)	Jul. 26, 2022	Mar. 31, 2021	Dec. 30, 2023	Sep. 30, 2023	Dec. 30, 2023	Jun. 15, 2018
Convertible Debt
Debt Instrument [Line Items]
Debt outstanding			$ 494,100,000		$ 494,100,000
Effective interest rate			0.50%		0.50%
Interest Expense, Debt			$ 700,000		$ 2,000,000
Convertible Debt \| Convertible Senior Notes Due 2026
Debt Instrument [Line Items]
Face amount of debt		$ 500,000,000	500,000,000		500,000,000
Stated rate (as a percent)		0.00%
Proceeds from Issuance of Debt		$ 486,700,000
Debt Issuance Costs, Net			5,900,000		5,900,000
Credit Facilities
Debt Instrument [Line Items]
Principal repayments, remainder of the fiscal year			$ 14,000,000		$ 14,000,000
Term Loan
Debt Instrument [Line Items]
Face amount of debt	$ 280,000,000					$ 350,000,000
Effective interest rate			6.80%		6.80%
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	420,000,000					$ 350,000,000
Debt outstanding			$ 110,000,000		$ 110,000,000
Effective interest rate			6.70%		6.70%
Uncommitted Operating Lines of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 20,100,000		$ 20,100,000
Debt outstanding			$ 0		$ 0
Uncommitted Operating Lines of Credit \| Revised Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Face amount of debt	$ 420,000,000
Interest costs capitalized				$ 1,100,000
Uncommitted Operating Lines of Credit \| Minimum \| Revised Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility unused fee percentage	0.125%
Uncommitted Operating Lines of Credit \| Maximum \| Revised Credit Agreement \| Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility unused fee percentage	0.25%
Unsecured Debt \| Revised Credit Agreement
Debt Instrument [Line Items]
Face amount of debt	$ 280,000,000
Percent of principal amount due in year one	2.50%
Percent of principal amount due after year one per year until maturity	5.00%
Interest expense				500,000
Interest costs capitalized				$ 200,000
Unsecured Debt \| Minimum \| Revised Credit Agreement
Debt Instrument [Line Items]
Stated rate (as a percent)	1.125%
Interest rate floor	0.00%
Unsecured Debt \| Maximum \| Revised Credit Agreement
Debt Instrument [Line Items]
Stated rate (as a percent)	1.75%
Unsecured Debt \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| Revised Credit Agreement
Debt Instrument [Line Items]
Interest rate	0.10%