Haemonetics (HAE) 10-Q 4 Nov 15 2016 Q2 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - shares	6 Months Ended
	Sep. 26, 2015	Oct. 24, 2015
Document And Entity Information [Abstract]
Entity Registrant Name	HAEMONETICS CORP
Entity Central Index Key	313,143
Current Fiscal Year End Date	--04-02
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 26, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		50,724,474

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Income Statement [Abstract]
Net revenues	$ 219,693	$ 227,580	$ 433,106	$ 452,068
Cost of goods sold	114,396	119,466	225,270	237,676
Gross profit	105,297	108,114	207,836	214,392
Operating expenses:
Research and development	11,553	10,938	22,874	26,319
Selling, general and administrative	74,565	84,769	162,177	177,331
Total operating expenses	86,118	95,707	185,051	203,650
Operating income	19,179	12,407	22,785	10,742
Interest and other expense, net	(2,606)	(2,645)	(4,615)	(5,188)
Income before provision for income taxes	16,573	9,762	18,170	5,554
Provision for income taxes	3,710	2,275	5,574	1,715
Net income	$ 12,863	$ 7,487	$ 12,596	$ 3,839
Net income (loss) per share - basic (in dollars per share)	$ 0.25	$ 0.15	$ 0.25	$ 0.07
Net income (loss) per share - diluted (in dollars per share)	$ 0.25	$ 0.14	$ 0.24	$ 0.07
Weighted average shares outstanding
Basic (in shares)	50,680	51,391	51,020	51,567
Diluted (in shares)	51,187	51,925	51,638	52,056
Comprehensive (loss) income	$ (1,526)	$ 6,990	$ (4,153)	$ 2,495

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 26, 2015	Mar. 28, 2015
Current assets:
Cash and cash equivalents	$ 100,247	$ 160,662
Accounts receivable, less allowance of $2,273 at September 26, 2015 and $1,749 at March 28, 2015	145,411	145,827
Inventories, net	207,645	211,077
Deferred tax asset, net	11,977	12,608
Prepaid expenses and other current assets	35,444	40,103
Total current assets	500,724	570,277
Property, plant and equipment, net	328,233	321,948
Intangible assets, less accumulated amortization of $150,318 at September 26, 2015 and $133,175 at March 28, 2015	237,685	244,588
Goodwill	333,575	334,310
Deferred tax asset, long term	3,053	3,023
Other long-term assets	15,674	11,271
Total assets	1,418,944	1,485,417
Current liabilities:
Notes payable and current maturities of long-term debt	46,593	21,522
Accounts payable	42,088	48,425
Accrued payroll and related costs	42,852	51,115
Accrued taxes	2,209	3,819
Other current liabilities	54,363	64,211
Total current liabilities	188,105	189,092
Long-term debt, net of current maturities	387,715	406,369
Long-term deferred tax liability	34,781	32,097
Other long-term liabilities	31,463	31,737
Stockholders’ equity:
Common stock, $0.01 par value; Authorized — 150,000,000 shares; Issued and outstanding — 50,620,986 shares at September 26, 2015 and 51,670,969 shares at March 28, 2015	506	517
Additional paid-in capital	430,488	426,964
Retained earnings	384,359	420,365
Accumulated other comprehensive loss	(38,473)	(21,724)
Total stockholders’ equity	776,880	826,122
Total liabilities and stockholders’ equity	$ 1,418,944	$ 1,485,417

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands	Sep. 26, 2015	Mar. 28, 2015
Statement of Financial Position [Abstract]
Accounts receivable, allowance	$ 2,273	$ 1,749
Intangible assets, amortization	$ 150,318	$ 133,175
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)	50,620,986	51,670,969
Common stock, shares outstanding (in shares)	50,620,986	51,670,969

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Sep. 26, 2015	Sep. 27, 2014
Cash Flows from Operating Activities:
Net income	$ 12,596	$ 3,839
Non-cash items:
Depreciation and amortization	44,998	41,625
Amortization of financing costs	435	572
Stock compensation expense	3,883	6,938
Loss on sale of property, plant and equipment	139	364
Unrealized (gain)/loss from hedging activities	(710)	554
Change in fair value of contingent consideration	171	459
Asset write-down	88	474
Change in operating assets and liabilities:
Change in accounts receivable, net	243	10,145
Change in inventories	2,510	(13,185)
Change in prepaid income taxes	(182)	(2,028)
Change in other assets and other liabilities	(1,712)	(8,160)
Tax benefit of exercise of stock options	1,375	854
Change in accounts payable and accrued expenses	(27,073)	2,529
Net cash provided by operating activities	36,761	44,980
Cash Flows from Investing Activities:
Capital expenditures	(50,130)	(70,872)
Proceeds from sale of property, plant and equipment	293	377
Other acquisitions and investments	3,000	0
Net cash used in investing activities	(52,837)	(70,495)
Cash Flows from Financing Activities:
Payments on long-term real estate mortgage	(558)	(513)
Net increase in short-term loans	6,924	786
Repayment of term loan borrowings	0	(8,531)
Proceeds from employee stock purchase plan	2,263	2,530
Proceeds from exercise of stock options	8,374	4,042
Share repurchases	(60,984)	(33,770)
Net cash used in financing activities	(43,981)	(35,456)
Effect of exchange rates on cash and cash equivalents	(358)	(1,527)
Net Change in Cash and Cash Equivalents	(60,415)	(62,498)
Cash and Cash Equivalents at Beginning of Period	160,662	192,469
Cash and Cash Equivalents at End of Period	100,247	129,971
Supplemental Disclosures of Cash Flow Information:
Interest paid	4,162	4,180
Income taxes paid	4,656	8,351
Transfers from inventory to fixed assets for placement of Haemonetics equipment	$ 5,550	$ 4,026

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Sep. 26, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Our accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States 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 GAAP for complete financial statements. In the opinion of our 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 six months ended are not necessarily indicative of the results that may be expected for the full fiscal year ending April 2, 2016 , or any other interim period. Operating results for the six months ended September 26, 2015 include the correction of an understatement of the provision for income taxes in fiscal 2015 , which was determined to be immaterial to all periods impacted. Absent this correction, the provision for income taxes in the six months ended September 26, 2015 would have been $1.0 million lower than the amount included in the accompanying Consolidated Statements of Income and Comprehensive (Loss) Income. This understatement was due to an error in the computation of the provision for income taxes due to a recent change in the capital gains tax rate in Puerto Rico related to certain deferred tax liabilities. These unaudited consolidated financial statements should be read in conjunction with our audited consolidated financial statements and footnotes included in our annual report on Form 10-K for the fiscal year ended March 28, 2015 . We consider 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. We had no significant subsequent events. Our fiscal year ends on the Saturday closest to the last day of March. Fiscal year 2016 includes 53 weeks with each of the first three quarters having 13 weeks and the fourth quarter having 14 weeks. Fiscal year 2015 included 52 weeks with each quarter having 13 weeks. Summary of Significant Accounting Policies Revenue Recognition We offer sales rebates and discounts to certain customers. We treat sales rebates and discounts as a reduction of revenue and classify the corresponding liability as current. We estimate rebates for products where there is sufficient historical information available to predict the volume of expected future rebates. If we are unable to estimate the expected rebates reasonably, we record a liability for the maximum potential rebate or discount that could be earned. In circumstances where we provide upfront rebate payments to customers, we capitalize the rebate payments and amortize the resulting asset as a reduction of revenue using a systematic method over the life of the contract. For additional information regarding significant accounting policies, refer to our annual report on Form 10-K for the fiscal year ended March 28, 2015 .

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Sep. 26, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	RECENT ACCOUNTING PRONOUNCEMENTS Standards Implemented In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity . ASU No. 2014-08 limits the requirement to report discontinued operations to disposals of components of an entity that represent strategic shifts that have (or will have) a major effect on an entity’s operations and financial results. The amendments also require expanded disclosures concerning discontinued operations and disclosures of certain financial results attributable to a disposal of a significant component of an entity that does not qualify for discontinued operations reporting. The amendments in ASU No. 2014-08 are effective prospectively for reporting periods beginning on or after December 15, 2014, with early adoption permitted. We adopted ASU No. 2014-08 beginning in the first quarter of fiscal 2016. The adoption of ASU No. 2014-08 did not impact our financial position or results of operations. Standards to be Implemented In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) . ASU No. 2014-09 stipulates that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve this core principle, an entity should apply the following steps: (1) identify the contract(s) with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfies a performance obligation. ASU No. 2014-09 will be effective for annual reporting periods beginning after December 15, 2017, including interim periods within those reporting periods. Early adoption is permitted for annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The impact of adopting ASU No. 2014-09 on our financial position and results of operations is being assessed by management. In June 2014, the FASB issued ASU No. 2014-12, Compensation—Stock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period . ASU No. 2014-12 requires that a performance target that affects vesting and could be achieved after the requisite service period be treated as a performance condition. A reporting entity should apply existing guidance in ASC 718, Compensation—Stock Compensation, as it relates to such awards. ASU No. 2014-12 is effective in our first quarter of fiscal 2017 with early adoption permitted using either of two methods: (i) prospective to all awards granted or modified after the effective date; or (ii) retrospective to all awards with performance targets that are outstanding as of the beginning of the earliest annual period presented in the financial statements and to all new or modified awards thereafter, with the cumulative effect of applying ASU No. 2014-12 as an adjustment to the opening retained earnings balance as of the beginning of the earliest annual period presented in the financial statements. Management does not believe that the adoption of ASU No. 2014-12 will have a material effect on our financial position or results of operations. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements—Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern . ASU No. 2014-15 defines management's responsibility to assess an entity's ability to continue as a going concern, and to provide related footnote disclosures in certain circumstances. This guidance will be effective for all entities in the first annual period ending after December 15, 2016; however, early adoption is permitted. Management does not believe that the adoption of ASU No. 2014-15 will have a material effect on our financial position or results of operations. In January 2015, the FASB issued ASU No. 2015-01, Income Statement-Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items . ASU No. 2015-01 eliminates from GAAP the concept of extraordinary items. An entity will no longer be required to (1) segregate an extraordinary item from the results of ordinary operations; (2) separately present an extraordinary item on its income statement, net of tax, after income from continuing operations; and (3) disclose income taxes and earnings-per-share data applicable to an extraordinary item. ASU No. 2015-01 will be effective for fiscal years beginning after December 15, 2015. An entity may apply the amendments prospectively or retrospectively to all prior periods presented in the financial statements. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. Management does not believe that the adoption of ASU No. 2015-01 will have a material effect on our financial position or results of operations. In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis . ASU No. 2015-02 amended the process that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. ASU No. 2015-02 is effective for annual periods ending after December 15, 2015, and for annual periods and interim periods thereafter with early adoption permitted. Management does not believe that the adoption of ASU No. 2015-02 will have a material effect on our financial position or results of operations. In April 2015, the FASB issued ASU No. 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. ASU No. 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. This guidance simplifies the presentation of debt issuance costs but does not address presentation or subsequent measurement of debt issue costs related to line of credit arrangements. In August 2015, the FASB issued ASU No. 2015-15, Interest—Imputation of Interest (Subtopic 835-30): Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements. ASU No. 2015-15 indicates that the SEC staff would not object to an entity deferring and presenting debt issuance costs related to line of credit arrangements as an asset and subsequently amortizing the deferred debt issuance costs over the term of the line of credit arrangement, regardless of whether there are any outstanding borrowings on the line of credit arrangement. ASU No. 2015-03 is effective for annual periods beginning after December 15, 2015, and interim periods within those annual periods. Early adoption is permitted. Management does not believe that the adoption of ASU No. 2015-03 will have a material effect on our financial position or results of operations. In April 2015, the FASB issued ASU No. 2015-04, Compensation—Retirement Benefits (Topic 715): Practical Expedient for the Measurement Date of an Employer’s Defined Benefit Obligation and Plan Assets. ASU No. 2015-04 provides a practical expedient, for an entity with a fiscal year-end that does not coincide with a month-end, that permits the entity to measure defined benefit plan assets and obligations using the month-end that is closest to the entity's fiscal year-end and apply that practical expedient consistently from year to year. ASU No. 2015-04 is effective for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. Early application is permitted. Management does not believe that the adoption of ASU No. 2015-04 will have a material effect on our financial position or results of operations. In April 2015, the FASB issued ASU No. 2015-05, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement . ASU No. 2015-05 will help entities evaluate the accounting for fees paid by a customer in a cloud computing arrangement. ASU No. 2015-05 is effective for interim and annual periods beginning after December 15, 2015 with early adoption permitted. Management does not believe that the adoption of ASU No. 2015-05 will have a material effect on our financial position or results of operations. In July 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory . ASU No. 2015-11 more closely aligns the measurement of inventory in U.S. GAAP with the measurement of inventory in International Financial Reporting Standards by requiring companies using the first-in, first-out and average costs methods to measure inventory using the lower of cost and net realizable value. ASU No. 2015-11 is effective for annual reporting periods beginning after December 15, 2016 and interim periods within those fiscal years. ASU No. 2015-11 should be applied prospectively with earlier application permitted as of the beginning of an interim or annual reporting period. Management does not believe that the adoption of ASU No. 2015-11 will have a material effect on our financial position or results of operations. In August 2015, the FASB issued ASU No. 2015-12, Plan Accounting: Defined Benefit Pension Plans (Topic 960), Defined Contribution Pension Plans (Topic 962), Health and Welfare Benefit Plans (Topic 965): (Part I) Fully Benefit-Responsive Investment Contracts, (Part II) Plan Investment Disclosures, (Part III) Measurement Date Practical Expedient . Part I of ASU No. 2015-12 designates contract value as the only required measure for fully benefit-responsive investment contracts. Part II simplifies the investment disclosure requirements under Topics 820, 960, 962, and 965 for employee benefits plans and Part III provides a measurement date practical expedient for fiscal periods that do not coincide with a month-end date. ASU No. 2015-12 is effective for fiscal years beginning after December 15, 2015 with early adoption permitted. Management does not believe that the adoption of ASU No. 2015-12 will have a material effect on our financial position or results of operations.

EARNINGS PER SHARE ("EPS")

EARNINGS PER SHARE ("EPS")	6 Months Ended
	Sep. 26, 2015
Earnings Per Share [Abstract]
EARNINGS PER SHARE (EPS)	EARNINGS PER SHARE (“EPS”) The following table provides a reconciliation of the numerators and denominators of the basic and diluted earnings per share computations. Three Months Ended (In thousands, except per share amounts) September 26, September 27, Basic EPS Net income $ 12,863 $ 7,487 Weighted average shares 50,680 51,391 Basic income per share $ 0.25 $ 0.15 Diluted EPS Net income $ 12,863 $ 7,487 Basic weighted average shares 50,680 51,391 Net effect of common stock equivalents 507 534 Diluted weighted average shares 51,187 51,925 Diluted income per share $ 0.25 $ 0.14 Six Months Ended (In thousands, except per share amounts) September 26, September 27, Basic EPS Net income $ 12,596 $ 3,839 Weighted average shares 51,020 51,567 Basic income per share $ 0.25 $ 0.07 Diluted EPS Net income $ 12,596 $ 3,839 Basic weighted average shares 51,020 51,567 Net effect of common stock equivalents 618 489 Diluted weighted average shares 51,638 52,056 Diluted income per share $ 0.24 $ 0.07 Basic earnings per share is calculated using our weighted-average outstanding common shares. Diluted earnings per share is calculated using our weighted-average outstanding common shares including the dilutive effect of stock awards as determined under the treasury stock method. Weighted average shares outstanding, assuming dilution, excludes the impact of 1.6 million and 1.1 million anti-dilutive shares for the three and six months ended September 26, 2015 , respectively, as compared to 1.6 million anti-dilutive shares for the three and six months ended September 27, 2014 .

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	6 Months Ended
	Sep. 26, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Total stock-based compensation expense of $3.9 million and $6.9 million was recognized for the six months ended September 26, 2015 and September 27, 2014 , respectively. The related income tax benefit recognized was $1.2 million and $2.2 million for the six months ended September 26, 2015 and September 27, 2014 , respectively. The weighted average fair value for our options granted was $9.05 and $8.08 per share for the six months ended September 26, 2015 and September 27, 2014 , respectively. The assumptions utilized for estimating the fair value of option grants during the periods presented are as follows: Six Months Ended September 26, September 27, Stock Options Black-Scholes assumptions (weighted average): Volatility 22.15 % 22.62 % Expected life (years) 4.9 4.9 Risk-free interest rate 1.65 % 1.80 % Dividend yield — % — % As of September 26, 2015 , there was $17.8 million of total unrecognized compensation cost related to non-vested equity based compensation, including stock options, restricted stock units, market stock units and performance share units. This cost is expected to be recognized over a weighted average period of 2.3 years. During the six months ended September 26, 2015 and September 27, 2014 , there were 73,360 and 97,415 shares, respectively, purchased under the Employee Stock Purchase Plan at an average price of $30.84 and $25.85 per share, respectively.

PRODUCT WARRANTIES

PRODUCT WARRANTIES	6 Months Ended
	Sep. 26, 2015
Product Warranties Disclosures [Abstract]
PRODUCT WARRANTIES	PRODUCT WARRANTIES We generally provide warranty on parts and labor for one year after the sale and installation of each device. We also warrant our disposables products through their use or expiration. We estimate our potential warranty expense based on our historical warranty experience and periodically assess the adequacy of our warranty accrual, making adjustments as necessary. Six Months Ended (In thousands) September 26, September 27, Warranty accrual as of the beginning of the period $ 531 $ 590 Warranty provision 704 577 Warranty spending (738 ) (595 ) Warranty accrual as of the end of the period $ 497 $ 572

INVENTORIES

INVENTORIES	6 Months Ended
	Sep. 26, 2015
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories are stated at the lower of cost or market and include the cost of material, labor and manufacturing overhead. Cost is determined using the first-in, first-out method. (In thousands) September 26, March 28, Raw materials $ 64,127 $ 71,794 Work-in-process 17,183 12,462 Finished goods 126,335 126,821 Total inventory $ 207,645 $ 211,077

DERIVATIVES AND FAIR VALUE MEAS

DERIVATIVES AND FAIR VALUE MEASUREMENTS	6 Months Ended
	Sep. 26, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES AND FAIR VALUE MEASUREMENTS	DERIVATIVES AND FAIR VALUE MEASUREMENTS We manufacture, market and sell our products globally. For the six months ended September 26, 2015 , approximately 42.8% of our sales were generated outside the U.S. in local currencies. We also incur certain manufacturing, marketing and selling costs in international markets in local currency. Accordingly, our earnings and cash flows are exposed to market risk from changes in foreign currency exchange rates relative to the U.S. Dollar, our reporting currency. We have a program in place that is designed to mitigate our 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 our financial results from changes in foreign exchange rates. We utilize foreign currency forward contracts to hedge the anticipated cash flows from transactions denominated in foreign currencies, primarily the Japanese Yen and the Euro, and to a lesser extent the Swiss Franc, Australian Dollar, British Pound Sterling, Canadian Dollar and the Mexican Peso. This does not eliminate the impact of the volatility of foreign exchange rates, but because we generally enter 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 our designated foreign currency hedge contracts as of September 26, 2015 and March 28, 2015 were cash flow hedges under ASC Topic 815, Derivatives and Hedging . We record 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, we reclassify 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, we would reclassify the amount of any gain or loss on the related cash flow hedge to earnings at that time. We had designated foreign currency hedge contracts outstanding in the contract amount of $123.2 million as of September 26, 2015 and $145.8 million as of March 28, 2015 . During the six months ended September 26, 2015 , we recognized net gains of $6.6 million in earnings from our cash flow hedges, compared to recognized net gains of $1.6 million during the six months ended September 27, 2014 . For the six months ended September 26, 2015 , a $1.2 million loss, net of tax, was recorded in Accumulated Other Comprehensive Loss to recognize the effective portion of the fair value of any designated foreign currency hedge contracts that are, or previously were, designated as foreign currency cash flow hedges, as compared to a gain of $4.4 million , net of tax, for the six months ended September 27, 2014 . At September 26, 2015 , nominal losses, net of tax, will be reclassified to earnings within the next twelve months . All currency cash flow hedges outstanding as of September 26, 2015 mature within twelve months . Non-Designated Foreign Currency Contracts We manage our exposure to changes in foreign currency on a consolidated basis to take advantage of offsetting transactions and balances. We use foreign currency forward contracts as a part of our 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 Topic 815. These forward contracts are marked-to-market with changes in fair value recorded to earnings. We had non-designated foreign currency hedge contracts under ASC Topic 815 outstanding in the contract amount of $42.7 million as of September 26, 2015 and $45.8 million as of March 28, 2015 . Interest Rate Swaps On August 1, 2012, we entered into a credit agreement, as amended June 30, 2014, which provided for a term loan (“Credit Agreement”). Under the terms of this Credit Agreement, we may borrow at a spread to an index, including the LIBOR index of 1-month, 3-months, 6-months, etc. From the date of the Credit Agreement, we have chosen to borrow against the 1-month USD-LIBOR-BBA rounded up, if necessary, to the nearest 1/16th of 1% (“Adjusted LIBOR”). The terms of the Credit Agreement allows us to borrow in multiple tranches. Accordingly, our earnings and cash flows are exposed to interest rate risk from changes in Adjusted LIBOR. Part of our interest rate risk management strategy includes the use of interest rate swaps to mitigate our exposure to changes in variable interest rates. Our 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. We formally document our hedge relationships (including identifying the hedged instrument and hedged item) at hedge inception to ensure that our interest rate swaps qualify for hedge accounting. On a quarterly basis, we assess whether the interest rate swaps are highly effective in offsetting changes in the cash flow of the hedged item. We do not hold or issue interest rate swaps for trading purposes. We manage the credit risk of the counterparties by dealing only with institutions that we consider financially sound and consider the risk of non-performance to be remote. On December 21, 2012 , we entered into two interest rate swap agreements (the "Swaps"), whereby we receive Adjusted LIBOR and pay an average fixed rate of 0.68% on a total notional amount of $250.0 million of debt. The Swaps mature on August 1, 2017 . We designated the Swaps as cash flow hedges of variable interest rate risk associated with $250.0 million of indebtedness. For the six months ended September 26, 2015 and September 27, 2014 , a loss of $0.2 million and a loss of $0.1 million , respectively, net of tax, were recorded in Accumulated Other Comprehensive Loss to recognize the effective portion of the fair value of interest rate swaps that qualify as cash flow hedges. Fair Value of Derivative Instruments The following table presents the effect of our derivative instruments designated as cash flow hedges and those not designated as hedging instruments under ASC Topic 815 in our consolidated statements of income and comprehensive income for the six months ended September 26, 2015 : (In thousands) Amount of Loss Amount of Gain Reclassified Location in Income and Comprehensive (Loss) Income Amount of Gain Excluded from Testing * Location in Derivative Instruments Designated foreign currency hedge contracts, net of tax $ (1,243 ) $ 6,592 Net revenues, COGS, and SG&A $ 12 Interest and other expense, net Non-designated foreign currency hedge contracts — — 785 Interest and other expense, net Designated interest rate swaps, net of tax $ (243 ) $ — Interest and other expense, net $ — * We exclude the difference between the spot rate and hedge forward rate from our effectiveness testing. We did not have fair value hedges or net investment hedges outstanding as of September 26, 2015 or March 28, 2015 . As of September 26, 2015 , the amount recognized as a deferred tax liability for designated foreign currency hedges was $0.2 million and the amount recognized as a deferred tax asset for interest rate swap hedges was $0.2 million . ASC Topic 815 requires all derivative instruments to be recognized at their fair value as either assets or liabilities on the balance sheet. We determine the fair value of our derivative instruments using the framework prescribed by ASC Topic 820, Fair Value Measurements and Disclosures , by considering the estimated amount we 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 our creditworthiness for liabilities. In certain instances, we may utilize financial models to measure fair value. Generally, we use 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 September 26, 2015 , we have classified our 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 our derivative instruments. The following tables present the fair value of our derivative instruments as they appear in our consolidated balance sheets as of September 26, 2015 and March 28, 2015 : (In thousands) Location in Balance Sheet September 26, 2015 March 28, 2015 Derivative Assets: Designated foreign currency hedge contracts Other current assets $ 2,620 $ 9,740 $ 2,620 $ 9,740 Derivative Liabilities: Designated foreign currency hedge contracts Other current liabilities $ 2,870 $ 2,499 Designated interest rate swaps Other current liabilities 548 159 $ 3,418 $ 2,658 Other Fair Value Measurements ASC Topic 820 defines fair value, establishes a framework for measuring fair value in accordance with U.S. GAAP, and expands disclosures about fair value measurements. ASC Topic 820 does not require any new fair value measurements; rather, it applies to other accounting pronouncements that require or permit fair value measurements. In accordance with ASC Topic 820, for the six months ended September 26, 2015 , we applied the requirements under ASC Topic 820 to our non-financial assets and non-financial liabilities. As we did not have an impairment of any non-financial assets or non-financial liabilities, there was no disclosure required relating to our non-financial assets or non-financial liabilities. On a recurring basis, we measure certain financial assets and financial liabilities at fair value, including our money market funds, foreign currency hedge contracts, and contingent consideration. ASC Topic 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. We base fair value upon quoted market prices, where available. Where quoted market prices or other observable inputs are not available, we apply valuation techniques to estimate fair value. ASC Topic 820 establishes a three-level valuation hierarchy for disclosure of fair value measurements. The categorization of assets and liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the measurement of fair value. The three levels of the hierarchy are defined as follows: • 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. Our money market funds carried at fair value are classified within Level 1 of the fair value hierarchy because they are valued using quoted market prices. Fair Value Measured on a Recurring Basis Financial assets and financial liabilities measured at fair value on a recurring basis consist of the following as of September 26, 2015 and March 28, 2015 . As of September 26, 2015 As of March 28, 2015 (In thousands) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Money market funds $ 63,180 $ — $ — $ 63,180 $ 119,946 $ — $ — $ 119,946 Designated foreign currency hedge contracts — 2,620 — 2,620 — 9,740 — 9,740 $ 63,180 $ 2,620 $ — $ 65,800 $ 119,946 $ 9,740 $ — $ 129,686 Liabilities Designated foreign currency hedge contracts $ — $ 2,870 $ — $ 2,870 $ — $ 2,499 $ — $ 2,499 Designated interest rate swaps — 548 — 548 — 159 — 159 Contingent consideration — — 4,898 4,898 — — 4,727 4,727 $ — $ 3,418 $ 4,898 $ 8,316 $ — $ 2,658 $ 4,727 $ 7,385 For the six months ended September 26, 2015 , non-designated foreign currency hedge contracts were not significant and are not disclosed separately in the above table. Contingent Consideration Contingent consideration liabilities are measured at fair value using projected revenues, discount rates, probabilities of payment and projected payment dates. This Level 3 fair value measurement was performed using a probability-weighted discounted cash flow over a ten year period. Increases or decreases in the fair value of our contingent consideration liability can result from changes in discount periods and rates, as well as changes in the timing and amount of revenue estimates or likelihood of earning revenue. Projected revenues are based on our most recent internal operational budgets. The table below provides a reconciliation of the beginning and ending Level 3 liabilities for the six months ended September 26, 2015 . (In thousands) Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Contingent consideration as of March 28, 2015 $ 4,727 Fair value adjustment 171 Ending balance $ 4,898 The fair value adjustment to contingent consideration was a result of updated assumptions pertaining to timing and unit volumes. Other Fair Value Disclosures The Term Loan (which is carried at amortized cost), accounts receivable and accounts payable approximate fair value. Details pertaining to the Term Loan can be found in Note 9, Debt .

INCOME TAXES

INCOME TAXES	6 Months Ended
	Sep. 26, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES We conduct business globally, and as a result, report our results of operations in a number of foreign jurisdictions in addition to the United States. Our reported tax rate is lower than the U.S. federal statutory rate in all reported periods as the income tax rates in the foreign jurisdictions are generally lower than the U.S. statutory tax rate. The reported income tax rate for the six months ended September 26, 2015 was 30.7% , as compared to a reported income tax rate of 30.9% for the six months ended September 27, 2014 . During the six months ended September 26, 2015 , we recorded pre-tax losses in Scotland, Italy and Malaysia due to restructuring and transformation costs associated with our manufacturing transformation, and we did not record a corresponding tax benefit due to the valuation allowance maintained against our net deferred tax assets in these jurisdictions. Similarly, during the six months ended September 27, 2014 , we recorded pre-tax losses in Scotland and Malaysia associated with restructuring costs, and we did not record a corresponding tax benefit due to the valuation allowance maintained against our net deferred tax assets in these jurisdictions. We recorded tax expense of $1.0 million during the six months ended September 26, 2015 as a result of a deferred tax rate change which impacted an indefinite-lived deferred tax liability of our Puerto Rican subsidiary. We are in a three year cumulative loss position in the U.S. and, accordingly, maintain a valuation allowance against our U.S. deferred tax assets. We also maintain a valuation allowance against certain foreign deferred tax assets which we have concluded are not more-likely-than-not realizable.

DEBT

DEBT	6 Months Ended
	Sep. 26, 2015
Debt Disclosure [Abstract]
DEBT	DEBT On August 1, 2012, in connection with the acquisition of the whole blood business, we entered into a credit agreement ("Credit Agreement") with certain lenders (together, “Lenders”) which provided for a $475.0 million Term Loan and a $50.0 million revolving loan (the “Revolving Credit Facility”), and together with the Term Loan, (the “Credit Facilities”). The Credit Facilities had a term of five years and mature on August 1, 2017. Interest was based on the Adjusted LIBOR plus a range of 1.125% to 1.500% depending on the achievement of leverage ratios and customary credit terms which included financial and negative covenants. On June 30, 2014, we modified our existing Credit Facilities by extending the maturity date to July 1, 2019, extending the principal repayments of the Term Loan, and modifying certain restrictive covenants to allow greater operational flexibility and enhanced near term liquidity. In addition, the amended Credit Agreement provides for a $100.0 million revolving credit facility and establishes interest rates in the range of LIBOR plus 1.125% – 1.500% , depending on certain conditions. At September 26, 2015 , $379.4 million was outstanding under the term loan and $50.0 million was outstanding on the Revolving Credit Facility, both with an interest rate of 1.625% . No additional amounts were borrowed as a result of this modification. The fair value of debt approximates its current value of approximately $429.4 million as of September 26, 2015 . We were in compliance with the leverage and interest coverage ratios specified in the Credit Agreement as well as all other bank covenants as of September 26, 2015 . The maturity profile is as follows: Fiscal year (in thousands) Term Loan 2016 $ 21,342 2017 42,683 2018 45,054 2019 151,763 2020 168,564 $ 429,406

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Sep. 26, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES We are presently engaged in various legal actions, and although the total liability cannot be determined at the present time, based on consultation with counsel, we believe that any such liability will not materially affect our consolidated financial position or our results of operations. Italian Employment Litigation Our Italian manufacturing subsidiary is party to several actions initiated by employees of the facility in Ascoli-Piceno, Italy where we have ceased manufacturing operations. These include actions claiming (i) working conditions and minimum salaries should have been established by either a different classification under their national collective bargaining agreement or a different agreement altogether, (ii) certain solidarity agreements, which are arrangements between the Company, employees and the government to continue full pay and benefits for employees who would otherwise be terminated in times of low demand, are void, and (iii) payment of the extra time used for changing into and out of the working clothes at the beginning and end of each shift. In addition, a union represented in the Ascoli plant has filed an action claiming that the Company discriminated against it in favor of three other represented unions by (i) interfering with an employee referendum, (ii) interfering with an employee petition to recall union representatives from office, and (iii) excluding the union from certain meetings. Finally, we have been added as defendants on claims filed against Pall Corporation prior to our acquisition of the plant in August 2012. These claims relate to agreements to "freeze" benefit allowances for a certain period in exchange for Pall's commitments on hiring and plant investment. As of September 26, 2015 , the total amount of damages claimed by the plaintiffs in these matters is approximately $3.8 million . It is not possible at this point in the proceedings to accurately evaluate the likelihood or amount of any potential losses and therefore no amounts have been accrued. We may receive other, similar claims in the future.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Sep. 26, 2015
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION We manage a global business which designs, manufactures and markets blood management solutions. Our solutions are marketed through operating units organized primarily on geography: North America Plasma, North America Blood Center and Hospital, Europe, Asia Pacific and Japan. ASC 280, Segment Reporting, permits the aggregation of segments which are economically similar as well as similar in all of the following areas: (i) the nature of the products and services, (ii) the nature of the production processes, (iii) the type or class of customer for their products and services, (iv) the methods used to distribute their products or provide their services, and (v) the nature of the regulatory environment. Based on the criteria of ASC 280, we have one reportable segment. This conclusion is consistent with how our chief operating decision-maker views the business. Our chief operating decision maker primarily uses consolidated results to make operating and strategic decisions.

RESTRUCTURING

RESTRUCTURING	6 Months Ended
	Sep. 26, 2015
Restructuring and Related Activities [Abstract]
RESTRUCTURING	RESTRUCTURING On an ongoing basis, we review the global economy, the healthcare industry and the markets in which we compete to identify opportunities for efficiencies, enhance commercial capabilities, align our resources and offer our customers better solutions. In order to realize these opportunities, we undertake restructuring-type activities to transform our business. On May 1, 2013, we committed to a plan to pursue identified Value Creation and Capture initiatives ("VCC"). These opportunities include investment in product line extensions and next generation products, enhancement of commercial capabilities and a transformation of our manufacturing network. The transformation of our manufacturing network is expected to be completed in fiscal 2017 and included changes to the manufacturing footprint and supply chain structure (the "Network Plan"). To date, we have (i) discontinued manufacturing activities at our Ascoli-Piceno, Italy and Bothwell, Scotland facilities, (ii) expanded our facility in Tijuana, Mexico, (iii) engaged Sanmina Corporation as a contract manufacturer to produce certain medical equipment, and (iv) built a new manufacturing facility in Penang, Malaysia closer to our customers in Asia. We expect to complete the transfer of manufacturing activities from the Braintree, Massachusetts facility by the end of fiscal 2016 and the Bothwell, Scotland facility by early fiscal 2017. See the Liquidity and Capital Resources discussion of the Management Discussion and Analysis of Financial Condition and Results of Operations for further discussion of the costs of these activities. We estimate we will incur approximately $45.0 million in restructuring and restructuring related expense in 2016 . The following summarizes the restructuring costs for the six months ended September 26, 2015 and September 27, 2014 : Six Months Ended September 26, 2015 (In thousands) Restructuring Accrual Balance at March 28, 2015 Restructuring Costs Incurred Less Payments Less Non-Cash Adjustments Restructuring Accrual Balance at September 26, 2015 Severance and other employee costs $ 16,393 $ 7,960 $ (11,547 ) $ — $ 12,806 Other costs 219 5,576 (4,841 ) — 954 Accelerated depreciation — 843 — (843 ) — Asset write-down — 4 — (4 ) — Total $ 16,612 $ 14,383 $ (16,388 ) $ (847 ) $ 13,760 Six Months Ended September 27, 2014 (in thousands) Restructuring Accrual Balance at March 29, 2014 Restructuring Costs Incurred Less Payments Less Non-Cash Adjustments Restructuring Accrual Balance at September 27, 2014 Severance and other employee costs $ 22,908 $ 12,743 $ (12,680 ) $ — $ 22,971 Other costs 728 9,354 (9,704 ) — 378 Accelerated depreciation — 740 — (740 ) — Asset write-down — 96 — (96 ) — $ 23,636 $ 22,933 $ (22,384 ) $ (836 ) $ 23,349 We deployed significant financial resources for these activities. Many of the costs necessary to complete the VCC initiatives, such as severance and other plant closing costs, qualify as restructuring expenses under ASC 420, Exit or Disposal Cost Obligations . We incurred $14.4 million in severance, asset write-downs and other restructuring charges during the six months ended September 26, 2015 . In addition, we also incurred $7.1 million of costs that do not constitute restructuring under ASC 420, which we refer to as "Transformation Costs". These costs consist primarily of expenditures directly related to our transformation activities including program management, product line transfer teams and related costs, infrastructure related costs, accelerated depreciation and asset disposals. The table below presents transformation and restructuring costs recorded in cost of goods sold, research and development, selling, general and administrative expenses and interest and other expense in our Consolidated Statements of Income and Comprehensive (Loss) Income for the periods presented. Transformation costs Three Months Ended Six Months Ended (in thousands) September 26, September 27, September 26, September 27, Transformation and other costs $ 1,683 $ 7,225 $ 7,009 $ 14,987 Accelerated depreciation 45 168 76 418 Total $ 1,728 $ 7,393 $ 7,085 $ 15,405 Restructuring costs Three Months Ended Six Months Ended (in thousands) September 26, September 27, September 26, September 27, Severance and other employee costs $ 1,101 $ 3,222 $ 7,960 $ 12,743 Other costs 3,401 4,249 5,576 9,354 Accelerated depreciation 422 481 843 740 Asset disposal — — 4 96 Total $ 4,924 $ 7,952 $ 14,383 $ 22,933 Total restructuring and transformation $ 6,652 $ 15,345 $ 21,468 $ 38,338

CAPITALIZATION OF SOFTWARE DEVE

CAPITALIZATION OF SOFTWARE DEVELOPMENT COSTS	6 Months Ended
	Sep. 26, 2015
Research and Development [Abstract]
CAPITALIZATION OF SOFTWARE DEVELOPMENT COSTS	CAPITALIZATION OF SOFTWARE DEVELOPMENT COSTS For costs incurred related to the development of software to be sold, leased or otherwise marketed, we apply the provisions of ASC 985-20, Software - Costs of Software to be Sold, Leased or Marketed , which specifies that costs incurred internally in researching and developing a computer software product should be charged to expense until technological feasibility has been established for the product. Once technological feasibility is established, all software costs should be capitalized until the product is available for general release to customers. We capitalized $8.5 million and $3.5 million in software development costs for ongoing initiatives during the six months ended September 26, 2015 and September 27, 2014 , respectively. At September 26, 2015 and March 28, 2015 , we have a total of $48.2 million and $39.7 million of capitalized software costs, of which $9.9 million and $7.9 million are related to in-process software development initiatives, respectively. During the six months ended September 26, 2015 , $6.4 million of capitalized costs were placed into service. The costs capitalized for each project are included in intangible assets in the consolidated financial statements. We review these assets for impairment at least annually.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME	6 Months Ended
	Sep. 26, 2015
Stockholders' Equity Note [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME	ACCUMULATED OTHER COMPREHENSIVE LOSS The following is a roll-forward of the components of Accumulated Other Comprehensive Loss, net of tax, for the six months ended September 26, 2015 : (In thousands) Foreign Currency Defined Benefit Plans Net Unrealized Gain/Loss on Derivatives Total Balance as of March 28, 2015 $ (20,512 ) $ (8,923 ) $ 7,711 $ (21,724 ) Other comprehensive (loss)/income before reclassifications (8,674 ) 3 (1,486 ) (10,157 ) Amounts reclassified from Accumulated Other Comprehensive Loss — — (6,592 ) (6,592 ) Net current period other comprehensive (loss)/income (8,674 ) 3 (8,078 ) (16,749 ) Balance as of September 26, 2015 $ (29,186 ) $ (8,920 ) $ (367 ) $ (38,473 ) Details pertaining to the amount reclassified from Accumulated Other Comprehensive Loss for the six months ended September 26, 2015 are as follows: Amounts Reclassified from Other Comprehensive Loss Affected Line in the Statement of Income Derivative instruments reclassified to income statement Realized net gain on derivatives $ 6,717 Net revenues, Cost of goods sold, Interest and other expense, net Income tax effect (125 ) Provision for income taxes Net of taxes $ 6,592

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	6 Months Ended
	Sep. 26, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Revenue Recognition	Revenue Recognition We offer sales rebates and discounts to certain customers. We treat sales rebates and discounts as a reduction of revenue and classify the corresponding liability as current. We estimate rebates for products where there is sufficient historical information available to predict the volume of expected future rebates. If we are unable to estimate the expected rebates reasonably, we record a liability for the maximum potential rebate or discount that could be earned. In circumstances where we provide upfront rebate payments to customers, we capitalize the rebate payments and amortize the resulting asset as a reduction of revenue using a systematic method over the life of the contract. For additional information regarding significant accounting policies, refer to our annual report on Form 10-K for the fiscal year ended March 28, 2015 .

EARNINGS PER SHARE ("EPS") (Tab

EARNINGS PER SHARE ("EPS") (Tables)	6 Months Ended
	Sep. 26, 2015
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 (In thousands, except per share amounts) September 26, September 27, Basic EPS Net income $ 12,863 $ 7,487 Weighted average shares 50,680 51,391 Basic income per share $ 0.25 $ 0.15 Diluted EPS Net income $ 12,863 $ 7,487 Basic weighted average shares 50,680 51,391 Net effect of common stock equivalents 507 534 Diluted weighted average shares 51,187 51,925 Diluted income per share $ 0.25 $ 0.14 Six Months Ended (In thousands, except per share amounts) September 26, September 27, Basic EPS Net income $ 12,596 $ 3,839 Weighted average shares 51,020 51,567 Basic income per share $ 0.25 $ 0.07 Diluted EPS Net income $ 12,596 $ 3,839 Basic weighted average shares 51,020 51,567 Net effect of common stock equivalents 618 489 Diluted weighted average shares 51,638 52,056 Diluted income per share $ 0.24 $ 0.07

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	6 Months Ended
	Sep. 26, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Assumptions Utilized for Estimating Fair Value of Option Grants	The assumptions utilized for estimating the fair value of option grants during the periods presented are as follows: Six Months Ended September 26, September 27, Stock Options Black-Scholes assumptions (weighted average): Volatility 22.15 % 22.62 % Expected life (years) 4.9 4.9 Risk-free interest rate 1.65 % 1.80 % Dividend yield — % — %

PRODUCT WARRANTIES (Tables)

PRODUCT WARRANTIES (Tables)	6 Months Ended
	Sep. 26, 2015
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability	We estimate our potential warranty expense based on our historical warranty experience and periodically assess the adequacy of our warranty accrual, making adjustments as necessary. Six Months Ended (In thousands) September 26, September 27, Warranty accrual as of the beginning of the period $ 531 $ 590 Warranty provision 704 577 Warranty spending (738 ) (595 ) Warranty accrual as of the end of the period $ 497 $ 572

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Sep. 26, 2015
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories are stated at the lower of cost or market and include the cost of material, labor and manufacturing overhead. Cost is determined using the first-in, first-out method. (In thousands) September 26, March 28, Raw materials $ 64,127 $ 71,794 Work-in-process 17,183 12,462 Finished goods 126,335 126,821 Total inventory $ 207,645 $ 211,077

DERIVATIVES AND FAIR VALUE ME25

DERIVATIVES AND FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Sep. 26, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Effect of Derivative Instruments Designated as Cash Flow Hedges and Those Not Designated as Hedging Instruments	The following table presents the effect of our derivative instruments designated as cash flow hedges and those not designated as hedging instruments under ASC Topic 815 in our consolidated statements of income and comprehensive income for the six months ended September 26, 2015 : (In thousands) Amount of Loss Amount of Gain Reclassified Location in Income and Comprehensive (Loss) Income Amount of Gain Excluded from Testing * Location in Derivative Instruments Designated foreign currency hedge contracts, net of tax $ (1,243 ) $ 6,592 Net revenues, COGS, and SG&A $ 12 Interest and other expense, net Non-designated foreign currency hedge contracts — — 785 Interest and other expense, net Designated interest rate swaps, net of tax $ (243 ) $ — Interest and other expense, net $ — * We exclude the difference between the spot rate and hedge forward rate from our effectiveness testing.
Schedule of Fair Value of Derivative Instruments as They Appear in Consolidated Balance Sheets	The following tables present the fair value of our derivative instruments as they appear in our consolidated balance sheets as of September 26, 2015 and March 28, 2015 : (In thousands) Location in Balance Sheet September 26, 2015 March 28, 2015 Derivative Assets: Designated foreign currency hedge contracts Other current assets $ 2,620 $ 9,740 $ 2,620 $ 9,740 Derivative Liabilities: Designated foreign currency hedge contracts Other current liabilities $ 2,870 $ 2,499 Designated interest rate swaps Other current liabilities 548 159 $ 3,418 $ 2,658
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 September 26, 2015 and March 28, 2015 . As of September 26, 2015 As of March 28, 2015 (In thousands) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Money market funds $ 63,180 $ — $ — $ 63,180 $ 119,946 $ — $ — $ 119,946 Designated foreign currency hedge contracts — 2,620 — 2,620 — 9,740 — 9,740 $ 63,180 $ 2,620 $ — $ 65,800 $ 119,946 $ 9,740 $ — $ 129,686 Liabilities Designated foreign currency hedge contracts $ — $ 2,870 $ — $ 2,870 $ — $ 2,499 $ — $ 2,499 Designated interest rate swaps — 548 — 548 — 159 — 159 Contingent consideration — — 4,898 4,898 — — 4,727 4,727 $ — $ 3,418 $ 4,898 $ 8,316 $ — $ 2,658 $ 4,727 $ 7,385
Schedule of Fair Value Measurements Using Significant Unobservable Inputs (Level 3)	The table below provides a reconciliation of the beginning and ending Level 3 liabilities for the six months ended September 26, 2015 . (In thousands) Fair Value Measurements Using Significant Unobservable Inputs (Level 3) Contingent consideration as of March 28, 2015 $ 4,727 Fair value adjustment 171 Ending balance $ 4,898

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Sep. 26, 2015
Debt Disclosure [Abstract]
Schedule of Maturities of Long-term Debt	The maturity profile is as follows: Fiscal year (in thousands) Term Loan 2016 $ 21,342 2017 42,683 2018 45,054 2019 151,763 2020 168,564 $ 429,406

RESTRUCTURING (Tables)

RESTRUCTURING (Tables)	6 Months Ended
	Sep. 26, 2015
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost	The following summarizes the restructuring costs for the six months ended September 26, 2015 and September 27, 2014 : Six Months Ended September 26, 2015 (In thousands) Restructuring Accrual Balance at March 28, 2015 Restructuring Costs Incurred Less Payments Less Non-Cash Adjustments Restructuring Accrual Balance at September 26, 2015 Severance and other employee costs $ 16,393 $ 7,960 $ (11,547 ) $ — $ 12,806 Other costs 219 5,576 (4,841 ) — 954 Accelerated depreciation — 843 — (843 ) — Asset write-down — 4 — (4 ) — Total $ 16,612 $ 14,383 $ (16,388 ) $ (847 ) $ 13,760 Six Months Ended September 27, 2014 (in thousands) Restructuring Accrual Balance at March 29, 2014 Restructuring Costs Incurred Less Payments Less Non-Cash Adjustments Restructuring Accrual Balance at September 27, 2014 Severance and other employee costs $ 22,908 $ 12,743 $ (12,680 ) $ — $ 22,971 Other costs 728 9,354 (9,704 ) — 378 Accelerated depreciation — 740 — (740 ) — Asset write-down — 96 — (96 ) — $ 23,636 $ 22,933 $ (22,384 ) $ (836 ) $ 23,349
Schedule of Restructuring and Related Costs	The table below presents transformation and restructuring costs recorded in cost of goods sold, research and development, selling, general and administrative expenses and interest and other expense in our Consolidated Statements of Income and Comprehensive (Loss) Income for the periods presented. Transformation costs Three Months Ended Six Months Ended (in thousands) September 26, September 27, September 26, September 27, Transformation and other costs $ 1,683 $ 7,225 $ 7,009 $ 14,987 Accelerated depreciation 45 168 76 418 Total $ 1,728 $ 7,393 $ 7,085 $ 15,405 Restructuring costs Three Months Ended Six Months Ended (in thousands) September 26, September 27, September 26, September 27, Severance and other employee costs $ 1,101 $ 3,222 $ 7,960 $ 12,743 Other costs 3,401 4,249 5,576 9,354 Accelerated depreciation 422 481 843 740 Asset disposal — — 4 96 Total $ 4,924 $ 7,952 $ 14,383 $ 22,933 Total restructuring and transformation $ 6,652 $ 15,345 $ 21,468 $ 38,338

COMPREHENSIVE INCOME (Tables)

COMPREHENSIVE INCOME (Tables)	6 Months Ended
	Sep. 26, 2015
Stockholders' Equity Note [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following is a roll-forward of the components of Accumulated Other Comprehensive Loss, net of tax, for the six months ended September 26, 2015 : (In thousands) Foreign Currency Defined Benefit Plans Net Unrealized Gain/Loss on Derivatives Total Balance as of March 28, 2015 $ (20,512 ) $ (8,923 ) $ 7,711 $ (21,724 ) Other comprehensive (loss)/income before reclassifications (8,674 ) 3 (1,486 ) (10,157 ) Amounts reclassified from Accumulated Other Comprehensive Loss — — (6,592 ) (6,592 ) Net current period other comprehensive (loss)/income (8,674 ) 3 (8,078 ) (16,749 ) Balance as of September 26, 2015 $ (29,186 ) $ (8,920 ) $ (367 ) $ (38,473 )
Reclassification out of Accumulated Other Comprehensive Income	Details pertaining to the amount reclassified from Accumulated Other Comprehensive Loss for the six months ended September 26, 2015 are as follows: Amounts Reclassified from Other Comprehensive Loss Affected Line in the Statement of Income Derivative instruments reclassified to income statement Realized net gain on derivatives $ 6,717 Net revenues, Cost of goods sold, Interest and other expense, net Income tax effect (125 ) Provision for income taxes Net of taxes $ 6,592

BASIS OF PRESENTATION (Narrativ

BASIS OF PRESENTATION (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Sep. 26, 2015	Mar. 28, 2015
Basis of Presentation [Line Items]
Correction of understatement, provision for income taxes	$ 1
Term of fiscal years	371 days	364 days
Term of quarters		91 days
First Three Quarters [Member]
Basis of Presentation [Line Items]
Term of quarters	91 days
Fourth Quarter [Member]
Basis of Presentation [Line Items]
Term of quarters	98 days

EARNINGS PER SHARE ("EPS") (Sch

EARNINGS PER SHARE ("EPS") (Schedule of Earnings Per Share Reconciliation) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Basic EPS
Net income	$ 12,863	$ 7,487	$ 12,596	$ 3,839
Basic weighted average shares (in shares)	50,680	51,391	51,020	51,567
Basic income (loss) per share (in dollars per share)	$ 0.25	$ 0.15	$ 0.25	$ 0.07
Diluted EPS
Net income	$ 12,863	$ 7,487	$ 12,596	$ 3,839
Basic weighted average shares (in shares)	50,680	51,391	51,020	51,567
Net effect of common stock equivalents (in shares)	507	534	618	489
Diluted weighted average shares (in shares)	51,187	51,925	51,638	52,056
Diluted income (loss) per share (in dollars per share)	$ 0.25	$ 0.14	$ 0.24	$ 0.07
Stock awards excluded from computation of weighted average shares outstanding (in shares)	1,600	1,600	1,100	1,600

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Sep. 26, 2015	Sep. 27, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based compensation expense recognized	$ 3,883	$ 6,938
Tax benefit from compensation expense	$ 1,200	$ 2,200
Weighted average fair value of options granted (in dollars per share)	$ 9.05	$ 8.08
Stock Options Black-Scholes assumptions (weighted average):
Volatility	22.15%	22.62%
Expected life (years)	4 years 10 months 24 days	4 years 10 months 24 days
Risk-free interest rate	1.65%	1.80%
Dividend yield	0.00%	0.00%
Total unrecognized compensation cost	$ 17,800
Total unrecognized compensation cost related to non-vested stock options, weighted average period of recognition	2 years 3 months 18 days
Shares purchased under the ESPP (in shares)	73,360	97,415
Shares purchased under the ESPP (in dollars per share)	$ 30.84	$ 25.85

PRODUCT WARRANTIES (Schedule of

PRODUCT WARRANTIES (Schedule of Product Warranty Liability) (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 26, 2015	Sep. 27, 2014
Product Warranties [Roll Forward]
Warranty accrual as of the beginning of the period	$ 531	$ 590
Warranty provision	704	577
Warranty spending	(738)	(595)
Warranty accrual as of the end of the period	$ 497	$ 572

INVENTORIES (Schedule of Invent

INVENTORIES (Schedule of Inventories) (Details) - USD ($) $ in Thousands	Sep. 26, 2015	Mar. 28, 2015
Inventory Disclosure [Abstract]
Raw materials	$ 64,127	$ 71,794
Work-in-process	17,183	12,462
Finished goods	126,335	126,821
Inventories, net	$ 207,645	$ 211,077

DERIVATIVES AND FAIR VALUE ME34

DERIVATIVES AND FAIR VALUE MEASUREMENTS (Schedule of Effect of Derivative Instruments Designated as Cash Flow Hedges and Those Not Designated as Hedging Instruments) (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 26, 2015	Sep. 27, 2014
Designated as Hedging Instrument | Cash Flow Hedging | Foreign Exchange Contract
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI (Effective Portion)	$ (1,243)	$ 4,400
Designated as Hedging Instrument | Cash Flow Hedging | Foreign Exchange Contract | Net revenues, COGS, and SG&A
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) Reclassified from AOCI into Earnings (Effective Portion)	6,592	1,600
Designated as Hedging Instrument | Cash Flow Hedging | Foreign Exchange Contract | Interest and other expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount Excluded from Effectiveness Testing	12
Designated as Hedging Instrument | Interest Rate Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI (Effective Portion)	(243)	$ 100
Amount Excluded from Effectiveness Testing	0
Designated as Hedging Instrument | Interest Rate Swap [Member] | Interest and other expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) Reclassified from AOCI into Earnings (Effective Portion)	0
Not Designated as Hedging Instrument | Foreign Exchange Contract
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in AOCI (Effective Portion)	0
Amount of Gain/(Loss) Reclassified from AOCI into Earnings (Effective Portion)	0
Not Designated as Hedging Instrument | Foreign Exchange Contract | Interest and other expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount Excluded from Effectiveness Testing	$ 785

DERIVATIVES AND FAIR VALUE ME35

DERIVATIVES AND FAIR VALUE MEASUREMENTS (Schedule of Fair Value of Derivative Instruments as They Appear in Consolidated Balance Sheets) (Details) - USD ($) $ in Thousands	Sep. 26, 2015	Mar. 28, 2015
Derivative Assets:
Derivative Assets	$ 2,620	$ 9,740
Derivative Liabilities:
Derivative Liabilities	3,418	2,658
Designated as Hedging Instrument | Foreign Exchange Contract | Other Current Assets
Derivative Assets:
Derivative Assets	2,620	9,740
Designated as Hedging Instrument | Foreign Exchange Contract | Other Current Liabilities
Derivative Liabilities:
Derivative Liabilities	2,870	2,499
Designated as Hedging Instrument | Interest Rate Swap [Member] | Other Current Liabilities
Derivative Liabilities:
Derivative Liabilities	$ 548	$ 159

DERIVATIVES AND FAIR VALUE ME36

DERIVATIVES AND FAIR VALUE MEASUREMENTS (Schedule of Financial Assets and Financial Liabilities Measured at Fair Value) (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Mar. 28, 2015
Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Change in fair value of contingent consideration	$ 171	$ 459
Fair Value, Measurements, Recurring [Member]
Assets
Money market funds	63,180		$ 119,946
Designated foreign currency hedge contracts	2,620		9,740
Assets, Fair Value Disclosure, Total	65,800		129,686
Liabilities
Designated foreign currency hedge contracts	2,870		2,499
Designated interest rate swap	548		159
Contingent consideration	4,898		4,727
Liabilities, Fair Value Disclosure	8,316		7,385
Fair Value, Measurements, Recurring [Member] | Quoted Market Prices for Identical Assets (Level 1)
Assets
Money market funds	63,180		119,946
Designated foreign currency hedge contracts	0		0
Assets, Fair Value Disclosure, Total	63,180		119,946
Liabilities
Designated foreign currency hedge contracts	0		0
Designated interest rate swap	0		0
Contingent consideration	0		0
Liabilities, Fair Value Disclosure	0		0
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2)
Assets
Money market funds	0		0
Designated foreign currency hedge contracts	2,620		9,740
Assets, Fair Value Disclosure, Total	2,620		9,740
Liabilities
Designated foreign currency hedge contracts	2,870		2,499
Designated interest rate swap	548		159
Contingent consideration	0		0
Liabilities, Fair Value Disclosure	3,418		2,658
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Assets
Money market funds	0		0
Designated foreign currency hedge contracts	0		0
Assets, Fair Value Disclosure, Total	0		0
Liabilities
Designated foreign currency hedge contracts	0		0
Designated interest rate swap	0		0
Contingent consideration	4,898		4,727
Liabilities, Fair Value Disclosure	4,898		$ 4,727
Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Contingent consideration as of March 28, 2015	$ 4,727

DERIVATIVES AND FAIR VALUE ME37

DERIVATIVES AND FAIR VALUE MEASUREMENTS (Narrative) (Details) $ in Thousands	Dec. 21, 2012USD ($)swap	Sep. 26, 2015USD ($)	Sep. 27, 2014USD ($)	Mar. 28, 2015USD ($)
Derivative [Line Items]
Percentage of sales generated outside the US		42.80%
Maturity period for foreign currency contracts (in years)		1 year
Designated foreign currency hedge contracts outstanding		$ 123,200		$ 145,800
Non-designated foreign currency hedge contracts outstanding		42,700		$ 45,800
Term Loan [Member]
Derivative [Line Items]
Face amount of debt		$ 475,000
Foreign Exchange Contract
Derivative [Line Items]
Maturity period for foreign currency contracts (in years)		1 year
Designated as Hedging Instrument | Foreign Exchange Contract
Derivative [Line Items]
Deferred income tax expense (benefit)		$ 200
Designated as Hedging Instrument | Interest Rate Swap [Member]
Derivative [Line Items]
Deferred income tax expense (benefit)		200
Designated as Hedging Instrument | Cash Flow Hedging | Foreign Exchange Contract
Derivative [Line Items]
Amount of Gain (Loss) Recognized in AOCI (Effective Portion)		(1,243)	$ 4,400
Designated as Hedging Instrument | Interest Rate Swap [Member]
Derivative [Line Items]
Amount of Gain (Loss) Recognized in AOCI (Effective Portion)		(243)	100
Number of Interest Rate Derivatives Held | swap	2
Description of variable rate basis	LIBOR
Derivative, fixed interest rate	0.68%
Notional amount of derivative	$ 250,000
Net revenues, COGS, and SG&A | Designated as Hedging Instrument | Cash Flow Hedging | Foreign Exchange Contract
Derivative [Line Items]
Amount of Gain/(Loss) Reclassified from AOCI into Earnings (Effective Portion)		$ 6,592	$ 1,600

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	6 Months Ended
	Sep. 26, 2015	Sep. 27, 2014
Income Tax Disclosure [Abstract]
Reported tax rate	30.70%	30.90%
Recorded tax expense due to tax rate increase in Puerto Rico	$ 1

DEBT (Details)

DEBT (Details) $ in Thousands	6 Months Ended
	Sep. 26, 2015USD ($)
Debt Instrument [Line Items]
Debt outstanding	$ 429,406
2,015	21,342
2,016	42,683
2,017	45,054
2,018	151,763
2019 and beyond	$ 168,564
Credit Agreement [Member]
Debt Instrument [Line Items]
Term of credit facilities	5 years
Debt outstanding	$ 429,400
Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Effective interest rate	1.625%
Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest Rate	1.125%
Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest Rate	1.50%
Term Loan [Member]
Debt Instrument [Line Items]
Face amount of debt	$ 475,000
Debt outstanding	379,400
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Face amount of debt	50,000
Debt outstanding	50,000
Maximum borrowing capacity	$ 100,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)	Sep. 26, 2015USD ($)
Commitments and Contingencies Disclosure [Abstract]
Damages claimed	$ 3,800,000
Amount accrued	$ 0

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details)	6 Months Ended
	Sep. 26, 2015segment
Segment Reporting [Abstract]
Number of reportable segments	1

RESTRUCTURING (Narrative) (Deta

RESTRUCTURING (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Restructuring Cost and Reserve [Line Items]
Expected cost	$ 45,000		$ 45,000
Restructuring Costs Incurred	4,924	$ 7,952	14,383	$ 22,933
Transformation costs	$ 1,728	$ 7,393	$ 7,085	$ 15,405

RESTRUCTURING (Schedule of Rest

RESTRUCTURING (Schedule of Restructuring Reserve by Type of Cost) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Restructuring Reserve [Roll Forward]
Restructuring Accrual Balance			$ 16,612	$ 23,636
Restructuring Costs Incurred	$ 4,924	$ 7,952	14,383	22,933
Less Payments			(16,388)	(22,384)
Less Non-Cash Adjustments			847	836
Restructuring Accrual Balance	13,760	23,349	13,760	23,349
Severance and other employee costs
Restructuring Reserve [Roll Forward]
Restructuring Accrual Balance			16,393	22,908
Restructuring Costs Incurred	1,101	3,222	7,960	12,743
Less Payments			(11,547)	(12,680)
Less Non-Cash Adjustments			0	0
Restructuring Accrual Balance	12,806	22,971	12,806	22,971
Other costs
Restructuring Reserve [Roll Forward]
Restructuring Accrual Balance			219	728
Restructuring Costs Incurred	3,401	4,249	5,576	9,354
Less Payments			(4,841)	(9,704)
Less Non-Cash Adjustments			0	0
Restructuring Accrual Balance	954	378	954	378
Accelerated depreciation
Restructuring Reserve [Roll Forward]
Restructuring Accrual Balance			0	0
Restructuring Costs Incurred	422	481	843	740
Less Payments			0	0
Less Non-Cash Adjustments			(843)	(740)
Restructuring Accrual Balance	0	0	0	0
Asset write-down
Restructuring Reserve [Roll Forward]
Restructuring Accrual Balance			0	0
Restructuring Costs Incurred			4	96
Less Payments			0	0
Less Non-Cash Adjustments			(4)	(96)
Restructuring Accrual Balance	$ 0	$ 0	$ 0	$ 0

RESTRUCTURING (Schedule of Re44

RESTRUCTURING (Schedule of Restructuring and Related Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Restructuring Cost and Reserve [Line Items]
Transformation costs	$ 1,728	$ 7,393	$ 7,085	$ 15,405
Restructuring Costs Incurred	4,924	7,952	14,383	22,933
Total restructuring and transformation	6,652	15,345	21,468	38,338
Severance and other employee costs
Restructuring Cost and Reserve [Line Items]
Restructuring Costs Incurred	1,101	3,222	7,960	12,743
Other costs
Restructuring Cost and Reserve [Line Items]
Restructuring Costs Incurred	3,401	4,249	5,576	9,354
Accelerated depreciation
Restructuring Cost and Reserve [Line Items]
Restructuring Costs Incurred	422	481	843	740
Asset disposal
Restructuring Cost and Reserve [Line Items]
Restructuring Costs Incurred	0	0	4	96
Transformation and other costs
Restructuring Cost and Reserve [Line Items]
Transformation costs	1,683	7,225	7,009	14,987
Accelerated depreciation
Restructuring Cost and Reserve [Line Items]
Transformation costs	$ 45	$ 168	$ 76	$ 418

CAPITALIZATION OF SOFTWARE DE45

CAPITALIZATION OF SOFTWARE DEVELOPMENT COSTS (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Mar. 28, 2015
Research and Development [Abstract]
Capitalized software development costs for ongoing initiatives	$ 8.5	$ 3.5
Software costs capitalized, net	48.2		$ 39.7
Total costs capitalized related to in process software development initiatives	9.9		$ 7.9
Capitalized software development costs placed into service	$ 6.4

ACCUMULATED OTHER COMPREHENSI46

ACCUMULATED OTHER COMPREHENSIVE INCOME (Details 1) $ in Thousands	6 Months Ended
	Sep. 26, 2015USD ($)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance as of March 28, 2015	$ (21,724)
Other comprehensive (loss)/income before reclassifications	(10,157)
Amounts reclassified from Accumulated Other Comprehensive Loss	(6,592)
Net current period other comprehensive (loss)/income	(16,749)
Balance as of September 26, 2015	(38,473)
Foreign Currency
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance as of March 28, 2015	(20,512)
Other comprehensive (loss)/income before reclassifications	(8,674)
Amounts reclassified from Accumulated Other Comprehensive Loss	0
Net current period other comprehensive (loss)/income	(8,674)
Balance as of September 26, 2015	(29,186)
Defined Benefit Plans
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance as of March 28, 2015	(8,923)
Other comprehensive (loss)/income before reclassifications	3
Amounts reclassified from Accumulated Other Comprehensive Loss	0
Net current period other comprehensive (loss)/income	3
Balance as of September 26, 2015	(8,920)
Net Unrealized Gain/Loss on Derivatives
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance as of March 28, 2015	7,711
Other comprehensive (loss)/income before reclassifications	(1,486)
Amounts reclassified from Accumulated Other Comprehensive Loss	(6,592)
Net current period other comprehensive (loss)/income	(8,078)
Balance as of September 26, 2015	$ (367)

ACCUMULATED OTHER COMPREHENSI47

ACCUMULATED OTHER COMPREHENSIVE INCOME (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Realized net gain on derivatives	$ (2,606)	$ (2,645)	$ (4,615)	$ (5,188)
Income tax effect	(3,710)	(2,275)	(5,574)	(1,715)
Net of taxes	$ 12,863	$ 7,487	12,596	$ 3,839
Net Unrealized Gain/Loss on Derivatives | Amounts Reclassified from Other Comprehensive Loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Realized net gain on derivatives			6,717
Income tax effect			(125)
Net of taxes			$ 6,592