XML 43 R32.htm IDEA: XBRL DOCUMENT
v3.5.0.2

Capital and Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended
--- | ---
Oct. 01, 2016
Shares Held for Deferred Compensation Plans | Balances related to shares held for deferred compensation plans were as follows:
In thousands, except share amounts |  | September 2016 |  |  | December 2015 |  |  | September 2015 |
Shares held for deferred compensation plans |  |  | 450,067 |  |  |  | 562,649 |  |  |  | 560,049 |
Cost of shares held for deferred compensation plans |  | $ | 5,434 |  |  | $ | 6,823 |  |  | $ | 6,651 |
Deferred Components of OCI Reported, Net of Related Income Taxes, in Accumulated OCI in Stockholders' Equity | The deferred components of OCI are reported, net of related income taxes, in accumulated OCI in stockholders’ equity, as follows:
In thousands |  | September 2016 |  |  | December 2015 |  |  | September 2015 |
Foreign currency translation and other |  | $ | (670,551 | ) |  | $ | (718,169 | ) |  | $ | (585,275 | )
Defined benefit pension plans |  |  | (340,891 | ) |  |  | (372,195 | ) |  |  | (348,537 | )
Derivative financial instruments |  |  | 13,422 |  |  |  | 47,142 |  |  |  | 35,037 |
Accumulated other comprehensive income (loss) |  | $ | (998,020 | ) |  | $ | (1,043,222 | ) |  | $ | (898,775 | )
Changes in Accumulated OCI, Net of Related Taxes | The changes in accumulated OCI, net of related taxes, are as follows:
|  | Three Months Ended September 2016 |
In thousands |  | Foreign Currency Translation and Other |  |  | Defined Benefit Pension Plans |  |  | Derivative Financial Instruments |  |  | Total |
Balance, June 2016 |  | $ | (675,213 | ) |  | $ | (351,298 | ) |  | $ | 25,056 |  |  | $ | (1,001,455 | )
Other comprehensive income (loss) before reclassification |  |  | 4,662 |  |  |  | — |  |  |  | 5,896 |  |  |  | 10,558 |
Amounts reclassified from accumulated other comprehensive income (loss) |  |  | — |  |  |  | 10,407 |  |  |  | (17,530 | ) |  |  | (7,123 | )
Net other comprehensive income (loss) |  |  | 4,662 |  |  |  | 10,407 |  |  |  | (11,634 | ) |  |  | 3,435 |
Balance, September 2016 |  | $ | (670,551 | ) |  | $ | (340,891 | ) |  | $ | 13,422 |  |  | $ | (998,020 | )
|  | Three Months Ended September 2015 |
In thousands |  | Foreign Currency Translation and Other |  |  | Defined Benefit Pension Plans |  |  | Derivative Financial Instruments |  |  | Total |
Balance, June 2015 |  | $ | (599,297 | ) |  | $ | (360,125 | ) |  | $ | 45,796 |  |  | $ | (913,626 | )
Other comprehensive income (loss) before reclassification |  |  | 14,022 |  |  |  | — |  |  |  | 3,456 |  |  |  | 17,478 |
Amounts reclassified from accumulated other comprehensive income (loss) |  |  | — |  |  |  | 11,588 |  |  |  | (14,215 | ) |  |  | (2,627 | )
Net other comprehensive income (loss) |  |  | 14,022 |  |  |  | 11,588 |  |  |  | (10,759 | ) |  |  | 14,851 |
Balance, September 2015 |  | $ | (585,275 | ) |  | $ | (348,537 | ) |  | $ | 35,037 |  |  | $ | (898,775 | )
|  | Nine Months Ended September 2016 |
In thousands |  | Foreign Currency Translation and Other |  |  | Defined Benefit Pension Plans |  |  | Derivative Financial Instruments |  |  | Total |
Balance, December 2015 |  | $ | (718,169 | ) |  | $ | (372,195 | ) |  | $ | 47,142 |  |  | $ | (1,043,222 | )
Other comprehensive income (loss) before reclassification |  |  | 47,618 |  |  |  | — |  |  |  | 20,331 |  |  |  | 67,949 |
Amounts reclassified from accumulated other comprehensive income (loss) |  |  | — |  |  |  | 31,304 |  |  |  | (54,051 | ) |  |  | (22,747 | )
Net other comprehensive income (loss) |  |  | 47,618 |  |  |  | 31,304 |  |  |  | (33,720 | ) |  |  | 45,202 |
Balance, September 2016 |  | $ | (670,551 | ) |  | $ | (340,891 | ) |  | $ | 13,422 |  |  | $ | (998,020 | )
|  | Nine Months Ended September 2015 |
In thousands |  | Foreign Currency Translation and Other |  |  | Defined Benefit Pension Plans |  |  | Derivative Financial Instruments |  |  | Marketable Securities |  |  | Total |
Balance, December 2014 |  | $ | (356,941 | ) |  | $ | (377,134 | ) |  | $ | 31,389 |  |  | $ | 414 |  |  | $ | (702,272 | )
Other comprehensive income (loss) before reclassification |  |  | (228,334 | ) |  |  | — |  |  |  | 31,925 |  |  |  | 300 |  |  |  | (196,109 | )
Amounts reclassified from accumulated other comprehensive income (loss) |  |  | — |  |  |  | 28,597 |  |  |  | (28,277 | ) |  |  | (714 | ) |  |  | (394 | )
Net other comprehensive income (loss) |  |  | (228,334 | ) |  |  | 28,597 |  |  |  | 3,648 |  |  |  | (414 | ) |  |  | (196,503 | )
Balance, September 2015 |  | $ | (585,275 | ) |  | $ | (348,537 | ) |  | $ | 35,037 |  |  | $ | — |  |  | $ | (898,775 | )
Reclassifications Out of Accumulated OCI | Reclassifications out of accumulated OCI are as follows:
In thousands |  | Affected Line Item in the Consolidated Statements of Income |  | Three Months Ended September |  |  | Nine Months Ended September |
Details About Accumulated Other |  |  |
Comprehensive Income (Loss) Components |  |  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
Amortization of defined benefit pension plans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net deferred actuarial losses |  | (a) |  | $ | (16,303 | ) |  | $ | (15,493 | ) |  | $ | (48,928 | ) |  | $ | (46,485 | )
Deferred prior service costs |  | (a) |  |  | (645 | ) |  |  | (760 | ) |  |  | (1,937 | ) |  |  | (2,281 | )
Pension settlement charges |  | Selling, general and administrative expenses |  |  | — |  |  |  | (2,400 | ) |  |  | — |  |  |  | (3,992 | )
|  | Total before tax |  |  | (16,948 | ) |  |  | (18,653 | ) |  |  | (50,865 | ) |  |  | (52,758 | )
|  | Tax benefit |  |  | 6,541 |  |  |  | 7,065 |  |  |  | 19,561 |  |  |  | 24,161 |
|  | Net of tax |  |  | (10,407 | ) |  |  | (11,588 | ) |  |  | (31,304 | ) |  |  | (28,597 | )
Gains (losses) on derivative financial instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts |  | Net sales |  |  | 14,676 |  |  |  | (22,434 | ) |  |  | 11,997 |  |  |  | (51,279 | )
Foreign exchange contracts |  | Cost of goods sold |  |  | 15,485 |  |  |  | 39,142 |  |  |  | 80,094 |  |  |  | 80,633 |
Foreign exchange contracts |  | Selling, general and administrative expenses |  |  | (1,098 | ) |  |  | — |  |  |  | (3,611 | ) |  |  | — |
Foreign exchange contracts |  | Other income (expense), net |  |  | 526 |  |  |  | 7,541 |  |  |  | 2,653 |  |  |  | 20,515 |
Interest rate contracts |  | Interest expense |  |  | (1,131 | ) |  |  | (1,078 | ) |  |  | (3,356 | ) |  |  | (3,200 | )
|  | Total before tax |  |  | 28,458 |  |  |  | 23,171 |  |  |  | 87,777 |  |  |  | 46,669 |
|  | Tax expense |  |  | (10,928 | ) |  |  | (8,956 | ) |  |  | (33,726 | ) |  |  | (18,392 | )
|  | Net of tax |  |  | 17,530 |  |  |  | 14,215 |  |  |  | 54,051 |  |  |  | 28,277 |
Gains (losses) on sales of marketable securities |  | Other income (expense), net |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,177 |
|  | Tax expense |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (463 | )
|  | Net of tax |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 714 |
Total reclassifications for the period |  | Net of tax |  | $ | 7,123 |  |  | $ | 2,627 |  |  | $ | 22,747 |  |  | $ | 394 |
(a) | These accumulated OCI components are included in the computation of net periodic pension cost (see Note I for additional details).

X
- Definition Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). + References No definition available. + Details
Name: | us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -URI http://asc.fasb.org/extlink&oid=66004124&loc=SL7669686-108580 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an equity-based arrangement (such as stock or unit options and stock or unit awards) with an individual employee, which is generally an employment contract between the entity and a selected officer or key employee containing a promise by the employer to pay certain equity-based awards at future dates, sometimes including a period after retirement, upon compliance with stipulated requirements. This type of arrangement is distinguished from broader based employee benefit plans as it is usually tailored to the employee. Disclosure also typically includes the amount of related compensation expense recognized during the reporting period, the number of shares or units issued during the period under such arrangements, and the carrying amount as of the balance sheet date of the related liability. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 710 -SubTopic 10 -Section 30 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6409875&loc=d3e20015-108363 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 710 -SubTopic 10 -Section 55 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=6409961&loc=d3e20487-108367 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 710 -SubTopic 10 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6409961&loc=d3e20517-108367 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 + Details
Name: | us-gaap_ScheduleOfDeferredCompensationArrangementWithIndividualShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of changes in accumulated other comprehensive income. + References No definition available. + Details
Name: | vfc_ScheduleOfChangesInAccumulatedOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | vfc_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration