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Business Segment Information (Tables) | 12 Months Ended
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Jan. 03, 2015
Financial Information for Reportable Segments | Financial information for VF’s reportable segments is as follows:
|  | 2014 |  |  | 2013 |  |  | 2012 |
|  | In thousands |
Coalition revenues: |  |  |  |  |  |  |  |  |  |  |  |
Outdoor & Action Sports |  | $ | 7,198,994 |  |  | $ | 6,379,167 |  |  | $ | 5,866,071 |
Jeanswear |  |  | 2,801,754 |  |  |  | 2,810,994 |  |  |  | 2,789,293 |
Imagewear |  |  | 1,104,038 |  |  |  | 1,065,952 |  |  |  | 1,075,677 |
Sportswear |  |  | 650,203 |  |  |  | 624,693 |  |  |  | 577,317 |
Contemporary Brands (a) |  |  | 400,431 |  |  |  | 415,053 |  |  |  | 445,960 |
Other |  |  | 126,741 |  |  |  | 123,789 |  |  |  | 125,537 |
Total coalition revenues |  | $ | 12,282,161 |  |  | $ | 11,419,648 |  |  | $ | 10,879,855 |
Coalition profit: |  |  |  |  |  |  |  |  |  |  |  |
Outdoor & Action Sports (b) |  | $ | 1,312,963 |  |  | $ | 1,106,384 |  |  | $ | 1,019,425 |
Jeanswear |  |  | 527,972 |  |  |  | 544,882 |  |  |  | 466,960 |
Imagewear |  |  | 164,352 |  |  |  | 152,203 |  |  |  | 145,053 |
Sportswear |  |  | 77,972 |  |  |  | 88,157 |  |  |  | 72,978 |
Contemporary Brands (a) |  |  | 23,420 |  |  |  | 38,825 |  |  |  | 49,182 |
Other |  |  | (2,600 | ) |  |  | (562 | ) |  |  | (232 | )
Total coalition profit |  |  | 2,104,079 |  |  |  | 1,929,889 |  |  |  | 1,753,366 |
Impairment of goodwill and intangible assets (c) |  |  | (396,362 | ) |  |  | — |  |  |  | — |
Corporate and other expenses (b) |  |  | (275,537 | ) |  |  | (286,767 | ) |  |  | (241,239 | )
Interest expense, net |  |  | (79,814 | ) |  |  | (80,632 | ) |  |  | (90,252 | )
Income before income taxes |  | $ | 1,352,366 |  |  | $ | 1,562,490 |  |  | $ | 1,421,875 |
(a) | Excludes operating results of John Varvatos Enterprises, Inc. since its disposition date of April 30, 2012.
(b) | Includes expenses related to the acquisition of Timberland as follows:
2013 — $10.7 million reported in Outdoor & Action Sports 2012 — $30.8 million reported in Outdoor & Action Sports ($22.1 million) and Corporate ($8.7 million)
(c) | Reflects impairment charges related to the Contemporary Brands coalition. See Notes F, G and T for additional information.
Reconciliation Assets |
|  | 2014 |  |  | 2013 |  |  | 2012 |
|  | In thousands |
Coalition assets: |  |  |  |  |  |  |  |  |  |  |  |
Outdoor & Action Sports |  | $ | 2,211,232 |  |  | $ | 2,133,447 |  |  | $ | 1,944,822 |
Jeanswear |  |  | 904,933 |  |  |  | 943,011 |  |  |  | 870,302 |
Imagewear |  |  | 349,254 |  |  |  | 334,864 |  |  |  | 341,588 |
Sportswear |  |  | 147,091 |  |  |  | 156,107 |  |  |  | 131,393 |
Contemporary Brands |  |  | 172,687 |  |  |  | 187,116 |  |  |  | 172,564 |
Other |  |  | 63,549 |  |  |  | 74,043 |  |  |  | 66,774 |
Total coalition assets |  |  | 3,848,746 |  |  |  | 3,828,588 |  |  |  | 3,527,443 |
Cash and equivalents |  |  | 971,895 |  |  |  | 776,403 |  |  |  | 597,461 |
Intangible assets and goodwill |  |  | 4,258,508 |  |  |  | 4,981,951 |  |  |  | 4,926,815 |
Deferred income taxes |  |  | 174,537 |  |  |  | 185,858 |  |  |  | 167,685 |
Corporate assets |  |  | 726,454 |  |  |  | 542,643 |  |  |  | 413,617 |
Consolidated assets |  | $ | 9,980,140 |  |  | $ | 10,315,443 |  |  | $ | 9,633,021 |
Capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |
Outdoor & Action Sports |  | $ | 111,020 |  |  | $ | 139,428 |  |  | $ | 155,522 |
Jeanswear |  |  | 31,586 |  |  |  | 49,763 |  |  |  | 67,239 |
Imagewear |  |  | 6,356 |  |  |  | 3,793 |  |  |  | 4,967 |
Sportswear |  |  | 22,814 |  |  |  | 6,074 |  |  |  | 5,279 |
Contemporary Brands |  |  | 10,308 |  |  |  | 13,679 |  |  |  | 6,766 |
Other |  |  | 2,489 |  |  |  | 3,953 |  |  |  | 5,418 |
Corporate |  |  | 49,504 |  |  |  | 54,463 |  |  |  | 6,749 |
|  | $ | 234,077 |  |  | $ | 271,153 |  |  | $ | 251,940 |
Depreciation and amortization expense: |  |  |  |  |  |  |  |  |  |  |  |
Outdoor & Action Sports |  | $ | 131,166 |  |  | $ | 122,385 |  |  | $ | 114,483 |
Jeanswear |  |  | 43,189 |  |  |  | 41,742 |  |  |  | 39,520 |
Imagewear |  |  | 11,602 |  |  |  | 11,481 |  |  |  | 11,733 |
Sportswear |  |  | 14,334 |  |  |  | 12,195 |  |  |  | 11,639 |
Contemporary Brands |  |  | 24,006 |  |  |  | 24,309 |  |  |  | 24,915 |
Other |  |  | 5,231 |  |  |  | 4,608 |  |  |  | 5,517 |
Corporate |  |  | 45,355 |  |  |  | 36,553 |  |  |  | 30,149 |
|  | $ | 274,883 |  |  | $ | 253,273 |  |  | $ | 237,956 |
Supplemental Information (with Revenues by Geographic Area Based on Location of Customer) | Supplemental information (with revenues by geographic area based on the location of the customer) is as follows:
|  | 2014 |  |  | 2013 |  |  | 2012 |
|  | In thousands |
Total revenues: |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 7,574,546 |  |  | $ | 7,124,781 |  |  | $ | 6,903,269 |
Foreign, primarily Europe |  |  | 4,707,615 |  |  |  | 4,294,867 |  |  |  | 3,976,586 |
|  | $ | 12,282,161 |  |  | $ | 11,419,648 |  |  | $ | 10,879,855 |
Property, plant and equipment: |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 577,669 |  |  | $ | 549,420 |  |  | $ | 513,282 |
Foreign, primarily Europe |  |  | 364,512 |  |  |  | 383,372 |  |  |  | 314,936 |
|  | $ | 942,181 |  |  | $ | 932,792 |  |  | $ | 828,218 |

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