<SEC-DOCUMENT>0001157523-16-004643.txt : 20160219
<SEC-HEADER>0001157523-16-004643.hdr.sgml : 20160219
<ACCEPTANCE-DATETIME>20160219065522
ACCESSION NUMBER:		0001157523-16-004643
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20160219
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20160219
DATE AS OF CHANGE:		20160219

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			V F CORP
		CENTRAL INDEX KEY:			0000103379
		STANDARD INDUSTRIAL CLASSIFICATION:	MEN'S & BOYS' FURNISHINGS, WORK CLOTHING, AND ALLIED GARMENTS [2320]
		IRS NUMBER:				231180120
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-05256
		FILM NUMBER:		161440086

	BUSINESS ADDRESS:	
		STREET 1:		105 CORPORATE CENTER BOULEVARD
		CITY:			GREENSBORO
		STATE:			NC
		ZIP:			27408
		BUSINESS PHONE:		(336)424-6000

	MAIL ADDRESS:	
		STREET 1:		P. O. BOX 21488
		CITY:			GREENSBORO
		STATE:			NC
		ZIP:			27420

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VF CORPORATION
		DATE OF NAME CHANGE:	19900621

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VANITY FAIR MILLS INC
		DATE OF NAME CHANGE:	19690520
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a51282887.htm
<DESCRIPTION>V.F. CORPORATION 8-K
<TEXT>
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    <p style="text-align: left">

    </p>
    <p style="text-align: left">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>UNITED
      STATES</b></font><b><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-size: 10pt; font-family: Times New Roman"></font><font style="font-size: 10pt; font-family: Times New Roman">SECURITIES
      AND EXCHANGE COMMISSION</font></b><font style="font-size: 10pt"><br style="font-size: 10pt"></font><font style="font-size: 10pt; font-family: Times New Roman"><b>Washington,
      D.C. 20549</b></font><br><br>
    </p>
    <p style="margin-left: 30.0px; text-align: left">
      <font style="font-size: 18pt; font-family: Times New Roman"><b>FORM 8-K</b></font><br><font style="font-size: 12pt; font-family: Times New Roman"><b>CURRENT
      REPORT</b></font><br><font style="font-size: 12pt; font-family: Times New Roman"><b>PURSUANT
      TO SECTION 13 OR 15(d) OF</b></font><br><font style="font-size: 12pt; font-family: Times New Roman"><b>THE
      SECURITIES EXCHANGE ACT OF 1934</b></font><br><br>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px">
      <tr>
        <td style="text-align: left; padding-left: 0.0px; width: 40%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 12pt"><b>Date of Report (Date of earliest</b></font><b><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt">event
            reported):</font></b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 60%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 12pt"><b>February 19, 2016</b></font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: left">
      <br>
      <br>

    </p>
    <p style="text-align: left">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>V.F.
      Corporation</b></font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt; font-family: Times New Roman"><b>(Exact
      Name of Registrant as Specified in Charter)</b></font><br><br><br>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px">
      <tr>
        <td style="text-align: left; padding-left: 0.0px; width: 33%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Pennsylvania</b>
          </p>
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; width: 34%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>1-5256</b>
          </p>
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; width: 33%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>23-1180120</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; width: 33%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(State or Other Jurisdiction</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>of Incorporation)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 34%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(Commission</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>File Number)</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 33%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(IRS Employer</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Identification No.)</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>
      <br>
      <br>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px">
      <tr>
        <td style="text-align: left; padding-left: 0.0px; width: 36%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>105 Corporate Center Boulevard</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Greensboro, North Carolina</b>
          </p>
        </td>
        <td style="width: 31%">
          &#160;
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; width: 33%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>27408</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; width: 36%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman"><b>(Address
            of Principal Executive</b></font>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman"><b>Offices)</b></font>
          </p>
        </td>
        <td style="width: 31%">

        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 33%" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt; font-family: Times New Roman"><b>(Zip
            Code)</b></font>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: left">
      <br>
      <br>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px">
      <tr>
        <td style="text-align: left; padding-left: 0.0px; width: 40%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Registrant&#8217;s telephone number,<br>including area code
          </p>
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; width: 60%" valign="top">
          336-424-6000
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: left">
      <br>
      <br>

    </p>
    <p style="font-size: 10pt; margin-left: 30.0px; font-family: Times New Roman">
      <font style="font-size: 10pt; font-family: Times New Roman">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p style="font-size: 10pt; margin-left: 30.0px; font-family: Times New Roman">
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p style="font-size: 10pt; margin-left: 30.0px; font-family: Times New Roman">
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p style="font-size: 10pt; margin-left: 30.0px; font-family: Times New Roman">
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p style="font-size: 10pt; margin-left: 30.0px; font-family: Times New Roman">
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="font-size: 10pt; text-align: left; margin-left: 30.0px; font-family: Times New Roman">

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px">
      <tr>
        <td style="text-align: left; padding-left: 0.0px; width: 10%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Item 2.02.</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 90%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Results of Operations and Financial Condition.</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px">
      <tr>
        <td style="text-align: left; padding-left: 0.0px; width: 10%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Item 7.01.</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 90%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Regulation FD Disclosure.</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-indent: 30.0px; font-size: 10pt; font-family: Times New Roman">
      The following information is furnished pursuant to Item 2.02, &#8220;Results
      of Operations and Financial Condition,&#8221; and Item 7.01, &#8220;Regulation FD
      Disclosure.&#8221;
    </p>
    <p style="text-indent: 30.0px; font-size: 10pt; font-family: Times New Roman">
      On February 19, 2016, V.F. Corporation issued a press release setting
      forth its fourth quarter and full year 2015 earnings.&#160;&#160;A copy of the
      press release is attached hereto as Exhibit 99 and hereby incorporated
      by reference.
    </p>
    <p style="text-indent: 30.0px; font-size: 10pt; font-family: Times New Roman">
      In accordance with General Instruction B.2 of Form 8-K, the information
      in this Current Report on Form 8-K, including Exhibit 99, shall not be
      deemed to be &#8220;filed&#8221; for purposes of Section 18 of the Securities
      Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), or otherwise
      subject to the liability of that section, and shall not be incorporated
      by reference into any registration statement or other document filed
      under the Securities Act of 1933, as amended, or the Exchange Act,
      except as shall be expressly set forth by specific reference in such
      filing.
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px">
      <tr>
        <td style="text-align: left; padding-left: 0.0px; width: 10%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Item 9.01.</b>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 90%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Financial Statements and Exhibits.</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px">
      <tr>
        <td style="text-align: left; padding-left: 0.0px; width: 4%" valign="top">
          (d)
        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          Exhibits.
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 6%">

        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 90%" valign="middle">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 6%">

        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 90%" valign="top">
          The following is furnished as an exhibit to this report:
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="width: 6%">

        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 90%" valign="middle">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 4%">

        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; width: 6%" valign="top">
          99
        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 90%" valign="top">
          V.F. Corporation press release dated February 19, 2016.
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: left">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>SIGNATURES</b></font>
    </p>
    <p style="text-align: left">
      <br>
      <br>
      Pursuant to the requirements of the Securities Exchange Act of 1934, the
      registrant has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.
    </p>
    <p>

    </p>
    <p style="text-align: left">
      <br>
      <br>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px">
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 50%">

        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 5%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td colspan="3" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>V.F. CORPORATION</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 50%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 2%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 28%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Registrant)
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 50%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 2%">

        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 28%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 50%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 2%">

        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 28%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 50%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px; width: 2%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            By:
          </p>
        </td>
        <td style="text-align: left; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black; width: 28%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ Scott A. Roe
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 50%">

        </td>
        <td style="width: 5%">

        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Scott A. Roe
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 50%">

        </td>
        <td style="width: 5%">

        </td>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Vice President &amp; Chief Financial Officer<br>(Chief Financial
            Officer)
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
      <tr>
        <td style="width: 5%">

        </td>
        <td style="width: 50%">

        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 2%">

        </td>
        <td style="width: 28%">

        </td>
        <td style="width: 10%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px; width: 5%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Date:
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 50%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            February 19, 2016
          </p>
        </td>
        <td style="width: 5%">

        </td>
        <td style="width: 2%">

        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 28%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 10%">

        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">

    </p>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      EXHIBIT&#160;INDEX
    </p>
    <p style="text-align: center">
      <br>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px">
      <tr>
        <td style="text-align: left; padding-left: 0.0px; width: 13%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Exhibit No.</u>
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 87%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Description</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 13%">

        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 87%" valign="top">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px; width: 13%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;&#160;&#160;&#160;&#160;&#160;&#160;99
          </p>
        </td>
        <td style="text-align: left; padding-left: 0.0px; width: 87%" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            V.F. Corporation press release dated February 19, 2016.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p style="text-align: center">

    </p>
  </body>
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<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>a51282887-ex99.htm
<DESCRIPTION>EXHIBIT 99
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2016 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 8pt; font-family: Times New Roman">
    <p style="text-align: right">
      <b>Exhibit 99</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>VF
      Reports 2015 Fourth Quarter and Full Year Results; Announces Outlook for
      2016</b></font>
    </p>
    <p style="text-align: center">

    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>2015
        revenue up 1 percent to $12.4 billion (up 6 percent currency neutral);
        excluding changes in foreign currency and last year&#8217;s 53</b></font><b><sup><font style="font-size: 12pt; font-family: Times New Roman">rd</font></sup><font style="font-size: 12pt; font-family: Times New Roman">
        week, 2015 revenue increased 7 percent;</font></b>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>2015
        EPS was up 20 percent to $2.85 from $2.38 per share in 2014; adjusted
        EPS, which excludes noncash impairment charges in both 2015 and 2014,
        was flat at $3.08 (up 12 percent currency neutral);</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>2016
        revenue expected to increase at a mid single-digit percentage rate;</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>2016
        gross margin expected to approximate 48.8 percent, net of an
        anticipated 70 basis points of negative impact from changes in foreign
        currency;</b></font>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>2016
        currency neutral EPS expected to increase 11 percent (up 5 percent
        reported) compared to adjusted EPS of $3.08 in 2015;</b></font><b><font style="font-size: 12pt; font-family: Times New Roman">
        </font><font style="font-size: 12pt; font-family: Times New Roman">and,</font></b>
      </li>
      <li style="margin-bottom: 10.0px">
        <font style="font-size: 12pt; font-family: Times New Roman"><b>Expected
        to return $1.5 billion to shareholders in 2016 through share
        repurchases and dividends.</b></font>
      </li>
    </ul>
    <p>
      GREENSBORO, N.C.--(BUSINESS WIRE)--February 19, 2016--VF Corporation
      (NYSE: VFC) today reported financial results for its fourth quarter and
      full year ended January 2, 2016. All per share amounts are on a diluted
      basis. This release refers to amounts as &#8220;reported&#8221;, &#8220;currency neutral&#8221;
      and &#8220;adjusted.&#8221; Currency neutral and adjusted amounts are non-GAAP
      financial measures described below under the &#8220;Currency Neutral &#8211;
      Excluding the Impact of Foreign Currency&#8221; and &#8220;Adjusted Amounts &#8211;
      Excluding Noncash Impairment Charges&#8221; paragraphs, respectively. Unless
      otherwise noted, currency neutral and reported amounts are the same.
      This release also refers to the impact of the 53<sup>rd</sup> week of
      2014, as described under the &#8220;52/53 Week Fiscal Year&#8221; paragraph.
    </p>
    <p>
      &#8220;The final quarter of 2015 challenged many companies to leverage core
      strengths and adapt quickly to a changing landscape,&#8221; said Eric Wiseman,
      VF Chairman and Chief Executive Officer. &#8220;Our focus, discipline and
      agility amid a softer consumer environment, record warm weather and a
      strengthening U.S. dollar have us well positioned to navigate what we
      believe to be a relatively short-term challenge. Going forward, I remain
      confident in VF&#8217;s ability to deliver continued long-term profitable
      growth and value creation for our shareholders.&#8221;
    </p>
    <p>
      &#8220;Our full year 2015 was also affected by many of the same challenges we
      saw in the fourth quarter, including a tough comparison against 2014&#8217;s 53<sup>rd</sup>
      week,&#8221; continued Wiseman. &#8220;In fact, when normalized over 2014 and 2015,
      currency neutral revenue grew 7 percent and earnings grew 13 percent
      annually over this period, in line with our long-term earnings growth
      target.&#8221;
    </p>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <i><b>Fourth Quarter 2015 Review</b></i>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <b>Revenue</b> was down 5 percent (down 1 percent currency neutral).
        Excluding the impact of changes in foreign currency and the 53<sup>rd</sup>
        week, fourth quarter revenue increased 3 percent.
      </li>
      <li style="margin-bottom: 10.0px">
        <b>Gross margin </b>was 49.0 percent on a currency neutral basis, in
        line with last year. Reported gross margin was down 70 basis points to
        48.3 percent as benefits from more favorable product costs and
        continued mix shift to higher margin businesses were offset by foreign
        currency headwinds and aggressive efforts to manage inventory.
      </li>
      <li style="margin-bottom: 10.0px">
        A $144 million pre-tax, noncash impairment charge ($0.23 per share
        after tax) was recorded to reduce the carrying value of intangible
        assets related to our <i>7 For All Mankind<sup>&#174;</sup></i>, <i>Ella
        Moss<sup>&#174;</sup> </i>and <i>Splendid<sup>&#174;</sup></i> brands.
      </li>
      <li style="margin-bottom: 10.0px">
        <b>Operating income</b>, on an adjusted basis, declined 6 percent to
        $541 million in the fourth quarter. On a GAAP basis, fourth quarter
        operating income was $397 million. Adjusted <b>operating margin </b>reached
        15.8 percent, net of 70 basis points of foreign currency headwinds,
        compared with 16.2 percent in the fourth quarter of 2014. On a GAAP
        basis, fourth quarter operating margin was 11.6 percent compared with
        5.1 percent in last year&#8217;s same period.
      </li>
      <li style="margin-bottom: 10.0px">
        Adjusted <b>earnings per share </b>was $0.95 per share compared with
        $0.98 per share during the same period last year. Excluding the
        negative impact of foreign currency, fourth quarter adjusted earnings
        per share was up 5 percent. On a GAAP basis, earnings per share was up
        157 percent to $0.72.
      </li>
    </ul>
    <p>
      The following table provides comparisons of changes in reported,
      currency neutral, and currency neutral excluding the 53<sup>rd</sup>
      week revenue growth rates for the fourth quarter of 2015.
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px">
      <tr>
        <td style="text-align: left; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>Q4 2015</b>
        </td>
        <td colspan="2" style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>% Change</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Reported</b>
          </p>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>% Change</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Currency</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Neutral</b>
          </p>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>% Change Currency</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Neutral &amp; Excluding</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>53rd Week</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Coalition Revenue</b>
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          Outdoor &amp; Action Sports
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (3
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          5
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          Jeanswear
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (2
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          6
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          Imagewear
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (13
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (12
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (7
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          Sportswear
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (9
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (9
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (6
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
      </tr>
      <tr>
        <td style="text-align: left; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 10.0px; border-bottom-color: black" valign="bottom">
          Contemporary Brands
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (19
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          %)
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (17
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          %)
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (10
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          %)
        </td>
      </tr>
      <tr>
        <td style="text-align: left; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>Total Coalition Revenue</b>
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>(5</b>
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>%)</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>(1</b>
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>%)</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>3</b>
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>%</b>
        </td>
      </tr>
    </table>
    </div>
    <p>
      <i><b>Full Year 2015 Review</b></i>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <b>Revenue</b> increased 1 percent (up 6 percent currency neutral) to
        $12.4 billion driven by strength in our Outdoor &amp; Action Sports
        coalition, and our international and direct-to-consumer platforms. For
        comparison purposes, excluding the impact of changes in foreign
        currency and the 53<sup>rd</sup> week, full year revenue increased 7
        percent.
      </li>
      <li style="margin-bottom: 10.0px">
        <b>Gross margin </b>on a currency neutral basis improved 30 basis
        points to 49.1 percent. Reported gross margin was 48.3 percent,
        compared with 48.8 percent in 2014. For the full year, a continued
        shift in our revenue mix toward higher-margin businesses and more
        favorable product costs was more than offset by an 80 basis point
        negative impact from changes in foreign currency and aggressive
        efforts to manage inventory.
      </li>
      <li style="margin-bottom: 10.0px">
        <b>Operating income</b> on an adjusted basis was $1.8 billion, in line
        with 2014. On a GAAP basis, full year operating income was $1.7
        billion. Adjusted <b>operating margin </b>was 14.6 percent in 2015,
        net of 70 basis points of foreign currency headwinds, compared with
        14.9 percent in 2014. On a GAAP basis, operating margin was 13.4
        percent in 2015 compared with 11.7 percent in 2014.
      </li>
      <li style="margin-bottom: 10.0px">
        Adjusted <b>earnings per share </b>was in line with 2014 adjusted EPS
        of $3.08 per share (up 12 percent currency neutral). On a GAAP basis,
        full year earnings per share was $2.85, an increase of 20 percent
        compared with 2014.
      </li>
    </ul>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      The following table provides comparisons of changes in reported,
      currency neutral, and currency neutral excluding the 53<sup>rd</sup>
      week revenue growth rates for the full year 2015.
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px">
      <tr>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>2015</b>
        </td>
        <td colspan="2" style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">

        </td>
        <td colspan="2" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>% Change</b>

          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Reported</b>
          </p>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>% Change</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Currency</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Neutral</b>
          </p>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="2" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>% Change Currency</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Neutral &amp; Excluding</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>53rd Week</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Coalition Revenue</b>
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          Outdoor &amp; Action Sports
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          3
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          9
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          11
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          Jeanswear
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          0
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          4
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          5
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          Imagewear
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (2
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (1
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          0
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 10.0px" valign="bottom">
          Sportswear
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (2
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (2
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (1
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
      </tr>
      <tr>
        <td style="text-align: left; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 10.0px; border-bottom-color: black" valign="bottom">
          Contemporary Brands
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (14
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          %)
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (11
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          %)
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (9
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          %)
        </td>
      </tr>
      <tr>
        <td style="text-align: left; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>Total Coalition Revenue</b>
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>1</b>
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>%</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>6</b>
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>%</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>7</b>
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>%</b>
        </td>
      </tr>
    </table>
    </div>
    <p>
      <i><b>Coalition Review</b></i>
    </p>
    <p>
      Fourth quarter revenue for the <b>Outdoor &amp; Action Sports</b>
      coalition was down 3 percent (up 1 percent currency neutral) to $2.1
      billion. Full year Outdoor &amp; Action Sports revenue increased 3 percent
      in 2015 (up 9 percent currency neutral) to $7.4 billion. Excluding the
      negative impact of foreign currency and the 53<sup>rd</sup> week, fourth
      quarter and full year revenue increased 5 percent and 11 percent,
      respectively.
    </p>
    <p>
      Fourth quarter revenue for <i>The North Face<sup>&#174;</sup></i> brand
      was down 4 percent (down 2 percent currency neutral) impacted
      significantly by record warm weather. Excluding the negative impact of
      foreign currency and the 53<sup>rd</sup> week, fourth quarter revenue
      for <i>The North Face<sup>&#174;</sup></i> brand was up 1 percent. By
      region, <i>The North Face<sup>&#174;</sup></i> brand&#8217;s revenue was down
      at a low-single digit percentage rate in the Americas, down at a
      low-teen percentage rate in Europe (down mid single-digit currency
      neutral), and down at a low-single digit percentage rate in Asia Pacific
      (up low single-digit currency neutral). For the full year, revenue for <i>The
      North Face<sup>&#174;</sup></i> brand grew 1 percent (up 5 percent
      currency neutral) to $2.3 billion. Excluding the negative impact of
      foreign currency and the 53<sup>rd</sup> week, 2015 revenue for <i>The
      North Face<sup>&#174;</sup></i> brand grew 6 percent.
    </p>
    <p>
      Revenue for the <i>Vans<sup>&#174;</sup></i> brand in the fourth quarter
      was up 3 percent (up 8 percent currency neutral). Excluding the negative
      impact of foreign currency and the 53<sup>rd</sup> week, fourth quarter
      revenue for the <i>Vans<sup>&#174;</sup></i> brand increased 13 percent.
      Revenue in the Americas region was up at a low single-digit percentage
      rate in the quarter (up mid single-digit currency neutral), up more than
      20 percent in the Asia Pacific region and down at a mid single-digit
      rate (up high single-digit currency neutral) in Europe. Revenue for the <i>Vans<sup>&#174;</sup></i>
      brand for the full year was up 7 percent (up 14 percent currency
      neutral) to reach $2.2 billion. Excluding the negative impact of foreign
      currency and the 53<sup>rd</sup> week, 2015 revenue for the <i>Vans<sup>&#174;</sup></i>
      brand was up 16 percent.
    </p>
    <p>
      <i>Timberland<sup>&#174;</sup> </i>brand revenue was down 4 percent (up
      1 percent currency neutral) in the fourth quarter impacted significantly
      by record warm weather. Excluding the negative impact of foreign
      currency and the 53<sup>rd</sup> week, fourth quarter revenue for the <i>Timberland<sup>&#174;</sup></i>
      brand grew 5 percent. In the Americas region, revenue was down at a low
      single-digit rate and in Europe, the <i>Timberland<sup>&#174;</sup> </i>brand
      was down at a high single-digit rate (up at a mid single-digit rate
      currency neutral). In Asia Pacific, fourth quarter revenue was down at a
      mid single-digit percentage rate (down low single-digit currency
      neutral). Full year <i>Timberland<sup>&#174;</sup> </i>brand revenue was
      up 2 percent to $1.8 billion, or an increase of 10 percent on a currency
      neutral basis. Excluding the negative impact of foreign currency and the
      53<sup>rd</sup> week, 2015 revenue for the <i>Timberland<sup>&#174;</sup></i>
      brand increased 12 percent.
    </p>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      Fourth quarter operating income for Outdoor &amp; Action Sports declined 11
      percent to $386 million (down 5 percent currency neutral). Operating
      margin was 18.4 percent in the quarter and 17.1 percent for the full
      year.
    </p>
    <p>
      <b>Jeanswear</b> fourth quarter revenue was down 2 percent (up 1 percent
      currency neutral) to $737 million. Excluding the negative impact of
      foreign currency and the 53<sup>rd</sup> week, fourth quarter revenue
      for Jeanswear was up 6 percent. Revenue for the Americas region was down
      at a low single-digit rate (flat currency neutral). In Europe, revenue
      was down at a low double-digit percentage rate (up low single-digit
      currency neutral) and in Asia, revenue was up at a mid single-digit rate
      (up low double-digit currency neutral). In 2015, global Jeanswear
      revenue was flat at $2.8 billion (up 4 percent currency neutral).
    </p>
    <p>
      Fourth quarter revenue for the <i>Wrangler<sup>&#174;</sup></i> brand
      was down 4 percent (down 1 percent currency neutral) with mid
      single-digit growth in the U.S. mass channel offset by weakness in the
      western specialty business. <i>Wrangler<sup>&#174;</sup></i> brand
      revenue in Europe was down at a low-teen percentage rate (down low
      single-digit currency neutral) and up at a high single-digit rate (up
      low double-digit currency neutral) in Asia Pacific. Full year revenue
      for the <i>Wrangler<sup>&#174;</sup></i> brand was unchanged on a
      reported basis, or up 4 percent currency neutral to reach $1.7 billion.
    </p>
    <p>
      Revenue for the <i>Lee<sup>&#174;</sup></i><sup> </sup>brand in the
      fourth quarter was in line with last year&#8217;s same period (up 5 percent
      currency neutral) including low single-digit growth in the Americas
      region, a mid single-digit percentage increase in Asia Pacific (up low
      double-digit currency neutral) and a high single-digit decline in Europe
      (up mid single-digit currency neutral). For the full year, reported
      revenue for the <i>Lee<sup>&#174;</sup></i><sup> </sup>brand was
      consistent with 2014, or up 5 percent on a currency neutral basis.
    </p>
    <p>
      Operating income for Jeanswear in the fourth quarter was down 1 percent
      to $141 million (up 9 percent currency neutral). Operating margin
      increased 40 basis points to 19.1 percent in the quarter, and was up 40
      basis points for the full year to 19.2 percent.
    </p>
    <p>
      <b>Imagewear</b> revenue was down 13 percent (down 12 percent currency
      neutral) in the fourth quarter to $259 million with low single-digit
      growth in the Licensed Sports Group business offset by more than 20
      percent lower revenue in the workwear business due primarily to the
      impact of considerably lower oil and gas exploration. Excluding the
      negative impact of foreign currency and the 53<sup>rd</sup> week, fourth
      quarter revenue for Imagewear was down 7 percent. For the full year,
      revenue for the Imagewear coalition was down 2 percent (down 1 percent
      currency neutral) to $1.1 billion.
    </p>
    <p>
      Fourth quarter operating income for Imagewear was down 19 percent to $39
      million, with a 100 basis point decline in operating margin to 15.2
      percent. For the full year, Imagewear operating margin was 14.6 percent,
      a 30 basis point decline over 2014.
    </p>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Sportswear</b> fourth quarter revenue decreased 9 percent to $196
      million. <i>Nautica<sup>&#174; </sup></i>brand revenue was down at a low
      double-digit percentage rate and the <i>Kipling<sup>&#174;</sup></i>
      brand&#8217;s U.S. business was up at a low single-digit percentage rate
      compared with the same period last year. Excluding the negative impact
      of foreign currency and the 53<sup>rd</sup> week, fourth quarter revenue
      for Sportswear was down 6 percent. For the year, Sportswear coalition
      revenue was down 2 percent to $635 million.
    </p>
    <p>
      In the fourth quarter, operating income decreased 12 percent to $28
      million with a 50 basis point decrease in operating margin to 14.5
      percent. 2015 operating margin for the Sportswear coalition improved 40
      basis points to 12.4 percent, reflecting ongoing efforts to elevate the
      Nautica<sup><i>&#174;</i></sup> brand&#8217;s business model.
    </p>
    <p>
      <b>Contemporary Brands</b> coalition fourth quarter revenue was down 19
      percent (down 17 percent currency neutral) to $86 million. Excluding the
      negative impact of foreign currency and the 53<sup>rd</sup> week, fourth
      quarter revenue for Contemporary Brands was down 10 percent. For the
      full year, Contemporary Brands coalition revenue was down 14 percent
      (down 11 percent currency neutral) to $344 million.
    </p>
    <p>
      <i><b>International Review</b></i>
    </p>
    <p>
      International revenue in the fourth quarter was down 6 percent (up 4
      percent currency neutral). Excluding the negative impact of foreign
      currency and the 53<sup>rd</sup> week, fourth quarter international
      revenue was up 7 percent. Revenue in Europe was down 9 percent (up 2
      percent currency neutral) and in the Asia Pacific region was up 3
      percent (up 8 percent currency neutral). Revenue in the Americas
      (non-U.S.) region was down 8 percent (up 7 percent currency neutral).
      International revenue was 33 percent of total VF fourth quarter sales,
      the same ratio as 2014. For the full year, international revenue
      represented 36 percent of total VF sales, compared with 38 percent in
      2014.
    </p>
    <p>
      <i><b>Direct-to-Consumer Review</b></i>
    </p>
    <p>
      Direct-to-consumer revenue was down 1 percent (up 3 percent currency
      neutral) in the fourth quarter, a result negatively impacted by record
      warm weather and a sluggish economic environment. Excluding the negative
      impact of foreign currency and the 53<sup>rd</sup> week, fourth quarter
      direct-to-consumer revenue was up 11 percent. There were 1,520 VF owned
      retail stores at the end of 2015. Direct-to-consumer revenue reached 34
      percent of total revenue in the fourth quarter compared with 32 percent
      in the 2014 period. For the full year, direct-to-consumer revenue was 27
      percent of total VF revenue compared with 26 percent in 2014.
    </p>
    <p>
      <i><b>Balance Sheet Review</b></i>
    </p>
    <p>
      Inventories were up 9 percent compared with December 2014 levels with
      more than half of the increase directly attributable to cold weather
      products. In 2015, VF&#8217;s cash generation from operations reached $1.1
      billion and the company returned nearly $1.3 billion to shareholders
      through dividends and share repurchases.
    </p>
    <p>
      <i><b>Adjusted Amounts &#8211; Excluding Noncash Impairment Charges</b></i>
    </p>
    <p>
      As a result of our annual review of intangible assets, we recorded a
      $144 million pre-tax, noncash impairment charge in the fourth quarter of
      2015 to reduce the carrying value of intangible assets related to our <i>7
      For All Mankind<sup>&#174;</sup></i>, <i>Ella Moss<sup>&#174;</sup> </i>and
      <i>Splendid<sup>&#174;</sup></i> brands. On an after-tax basis, the
      charge totaled $97 million, which decreased fourth quarter and full year
      2015 earnings per share by $0.23.
    </p>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      In 2014, we recorded a $396 million pre-tax, noncash impairment charge
      in the fourth quarter to reduce the carrying value of goodwill and
      intangible assets related to our <i>7 For All Mankind<sup>&#174;</sup></i>,
      <i>Ella Moss<sup>&#174;</sup> </i>and <i>Splendid<sup>&#174;</sup></i>
      brands. On an after-tax basis, the charge totaled $307 million, which
      decreased fourth quarter and full year 2014 earnings per share by $0.70.
    </p>
    <p>
      All &#8220;adjusted amounts&#8221; referenced herein exclude the effects of these
      noncash impairment charges. Reconciliations of measures in accordance
      with U.S. generally accepted accounting principles (&#8220;GAAP&#8221;) to adjusted
      amounts are presented in the supplemental financial information included
      with this release, which identify and quantify all excluded items.
    </p>
    <p>
      <i><b>Currency Neutral &#8211; Excluding the Impact of Foreign Currency</b></i>
    </p>
    <p>
      This release refers to &#8220;currency neutral&#8221; amounts for the fourth quarter
      and full year 2015, and 2016 outlook. Currency neutral amounts <u>exclude</u>
      both the impact of translating foreign currencies into U.S. dollars and
      the impact of currency rate changes on foreign currency denominated
      transactions. This release also refers to &#8220;reported&#8221; amounts in
      accordance with GAAP, which <u>include</u> translation and transactional
      impacts from foreign currency exchange rates. Reconciliations of GAAP
      measures to currency neutral amounts for the fourth quarter and full
      year 2015 are presented in the attached supplemental financial
      information, which identify and quantify all excluded items.
    </p>
    <p>
      <i><b>52/53 Week Fiscal Year</b></i>
    </p>
    <p>
      VF operates and reports using a 52/53 week fiscal year ending on the
      Saturday closest to December 31 of each year, and as a result, a 53<sup>rd</sup>
      week is added every five or six years.&#160;VF&#8217;s 2014 fiscal year included a
      53<sup>rd</sup> week, which was the week ended January 3, 2015.
      Similarly, while fiscal quarters normally consist of 13-week periods,
      the fourth quarter of 2014 included a 14<sup>th</sup> week. For
      comparability between 2015 and 2014 financial results, certain estimates
      referenced herein exclude the impact of the 53<sup>rd</sup> week of
      2014, which added approximately 1 percent of revenue growth.
    </p>
    <p>
      <i><b>2016 Outlook</b></i>
    </p>
    <p>
      &#8220;Going forward, we believe the current environment provides a
      significant opportunity for VF. With history as our teacher, we know
      that powerful brands and companies with strong balance sheets can
      capitalize on environments like this. That is exactly our intention,&#8221;
      continued Wiseman. &#8220;By focusing on our strengths &#8211; driving innovation
      into the marketplace, telling great stories to connect with consumers
      and operating with financial discipline &#8211; we will seize this opportunity
      to complete 2016 better positioned than we ever have been.&#8221;
    </p>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      Key points related to VF&#8217;s full year 2016 outlook include:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        <b>Revenue</b> is expected to increase at a mid single-digit
        percentage rate, including about one percentage point of negative
        impact from changes in foreign currency. By coalition, revenue for <b>Outdoor
        &amp; Action Sports</b> is expected to increase at a high single-digit
        percentage rate; mid single-digit growth for <b>Jeanswear</b>; low
        single-digit growth for <b>Imagewear</b>; a slight decline in <b>Sportswear</b>;
        and, a mid single-digit decline in the <b>Contemporary Brands</b>
        business.
      </li>
      <li style="margin-bottom: 10.0px">
        <b>International </b>revenue is expected to increase at a high
        single-digit rate on a currency neutral basis (up mid single-digit
        reported). European revenue is expected to be up at a mid single-digit
        rate currency neutral (up low single-digit rate reported). In the Asia
        Pacific region, full year currency neutral revenue is expected to
        increase at a low double-digit percentage rate (up high single-digit
        reported). And in the Americas (non-U.S.) region, revenue is expected
        to be up at a low-teen percentage rate currency neutral (up low
        single-digit reported).
      </li>
      <li style="margin-bottom: 10.0px">
        <b>Direct-to-consumer</b> revenue is expected to grow at a low
        double-digit percentage rate, including about a point of negative
        impact from changes in foreign currency. Direct-to-consumer growth in
        2016 will be driven by an increase of approximately 80 stores and
        comparable sales growth including an expected increase of more than 20
        percent in e-commerce revenue.
      </li>
      <li style="margin-bottom: 10.0px">
        <b>Gross margin</b> is expected to improve by about 50 basis points to
        48.8 percent, which includes about 70 basis points of headwind from
        changes in foreign currency.
      </li>
      <li style="margin-bottom: 10.0px">
        <b>Operating margin</b> is expected to reach 14.4 percent, including
        about 70 basis points from the anticipated negative impact of changes
        in foreign currency.
      </li>
      <li style="margin-bottom: 10.0px">
        <b>Earnings per share</b>, on a currency neutral basis, is expected to
        increase 11 percent (up 5 percent reported) compared to an adjusted
        EPS of $3.08 in 2015.
      </li>
      <li style="margin-bottom: 10.0px">
        <b>Cash flow from operations</b> is expected to reach $1.3 billion.
      </li>
      <li style="margin-bottom: 10.0px">
        VF expects to spend approximately $1 billion under the company&#8217;s <b>share
        repurchase</b> program. This represents a more than 35 percent
        increase over repurchases made in 2015, and when combined with the <b>annual
        dividend</b>, should return $1.5 billion to shareholders in 2016.
      </li>
      <li style="margin-bottom: 10.0px">
        Other full year assumptions include an approximate 23 percent <b>effective
        tax rate </b>and <b>capital expenditures</b> of approximately $300
        million.
      </li>
    </ul>
    <p>
      In the first quarter of 2016, we expect currency neutral revenue and
      earnings per share to be about flat. On a reported basis, revenue in the
      first quarter is expected to be about flat and earnings per share is
      expected to be down at a low double-digit percentage rate. In the second
      quarter of 2016, revenue should increase at a low single-digit
      percentage rate with a low single-digit decline in currency neutral
      earnings per share, or down high single-digit as reported. The second
      quarter of 2015 benefitted from a lower tax rate related to the
      settlement of prior years&#8217; tax audits. Currency neutral revenue growth
      in the second half of 2016 should increase at a high single-digit
      percentage rate, with the strongest performance coming in the fourth
      quarter. We expect second half earnings per share to increase at a mid
      to high-teen percentage rate.
    </p>
    <p>
      <i><b>Dividend Declared</b></i>
    </p>
    <p>
      VF&#8217;s Board of Directors declared a quarterly dividend of $0.37 per
      share, payable on March 18, 2016 to shareholders of record on March 8,
      2016.
    </p>
    <p>
      <i><b>Webcast Information</b></i>
    </p>
    <p>
      VF will hold its 2015 fourth quarter conference call and webcast today
      at approximately 8:30 a.m. Eastern Time. Interested parties should call
      (888) 820-9418 (U.S.) or (913) 312-9323 (international) to access the
      call. The conference call will be broadcast live and accessible at <u>www.vfc.com</u>.
      A replay of the conference call will be available through Feb. 26, 2016
      at the same location or via telephone at 877-870-5176 (access code:
      1884533).
    </p>
    <p>
      <i><b>About VF</b></i>
    </p>
    <p>
      VF Corporation (NYSE: VFC) is a global leader in the design,
      manufacture, marketing and distribution of branded lifestyle apparel,
      footwear and accessories. The company&#8217;s highly diversified portfolio of
      30 powerful brands spans numerous geographies, product categories,
      consumer demographics and sales channels, giving VF a unique industry
      position and the ability to create sustainable, long-term growth for our
      customers and shareholders. The company&#8217;s largest brands are&#160;<i>The
      North Face<sup>&#174;</sup></i>,&#160;<i>Vans<sup>&#174;</sup>,
      Timberland<sup>&#174;</sup>, Wrangler<sup>&#174;</sup>, Lee<sup>&#174;</sup>
      and Nautica<sup>&#174;</sup>. </i>For more information, visit&#160;<u>www.vfc.com</u>.
    </p>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <i><b>Forward-looking Statements</b></i>
    </p>
    <p>
      Certain statements included in this release and the attachments are
      &quot;forward-looking statements&quot; within the meaning of the federal
      securities laws. Forward-looking statements are made based on our
      expectations and beliefs concerning future events impacting VF and
      therefore involve a number of risks and uncertainties. You can identify
      these statements by the fact that they use words such as &#8220;will,&#8221;
      &#8220;anticipate,&#8221; &#8220;estimate,&#8221; &#8220;expect,&#8221; &#8220;should,&#8221; and &#8220;may&#8221; and other words
      and terms of similar meaning or use of future dates. We caution that
      forward-looking statements are not guarantees and that actual results
      could differ materially from those expressed or implied in the
      forward-looking statements. Potential risks and uncertainties that could
      cause the actual results of operations or financial condition of VF to
      differ materially from those expressed or implied by forward-looking
      statements in this release include, but are not limited to, the level of
      consumer demand for apparel, footwear and accessories; disruption to
      VF&#8217;s distribution system; VF's reliance on a small number of large
      customers; the financial strength of VF's customers; VF's ability to
      implement its business strategy; VF's ability to grow its international
      and direct-to-consumer businesses; VF and its customers&#8217; ability to
      maintain the strength and security of information technology systems;
      stability of VF's manufacturing facilities and foreign suppliers;
      volatile and unpredictable weather patterns; continued use by VF's
      suppliers of ethical business practices; VF's ability to protect
      trademarks and other intellectual property rights; possible goodwill and
      other asset impairment; foreign currency fluctuations; changes in tax
      liabilities, and legal, regulatory, political and economic risks. More
      information on potential factors that could affect VF's financial
      results is included from time to time in VF's public reports filed with
      the Securities and Exchange Commission, including VF's Annual Report on
      Form 10-K and Quarterly Reports on Form 10-Q.
    </p>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px">
      <tr>
        <td colspan="25" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>VF CORPORATION</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Condensed Consolidated Statements of Income</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(Unaudited)</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(In thousands, except per share amounts</b>)
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="25">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="25">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="8" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="top">
          <b>Three Months Ended December</b>
        </td>
        <td colspan="4" style="text-align: center; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="8" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="top">
          <b>Twelve Months Ended December</b>
        </td>
        <td colspan="2" style="text-align: center; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>2015</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" style="text-align: center; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>2014</b>
        </td>
        <td>

        </td>
        <td colspan="4" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="top">
          <b>Change</b>
        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>2015</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" style="text-align: center; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>2014</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="top">
          <b>Change</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Net sales</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          3,380,160
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          3,544,263
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (5
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          12,250,678
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          12,154,784
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          <b>Royalty income</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          32,603
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          34,597
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (6
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          126,066
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          127,377
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (1
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          <b>Total revenues</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          3,412,763
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          3,578,860
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (5
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          12,376,744
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          12,282,161
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Costs and operating expenses</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Cost of goods sold
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,763,297
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,823,625
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (3
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          6,393,800
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          6,288,190
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td colspan="2" style="text-align: left; padding-left: 20.0px" valign="top">
          Selling, general and administrative expenses
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,108,698
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,177,229
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (6
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          4,178,386
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          4,159,885
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="2" style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="top">
          Impairment of goodwill and intangible assets
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          143,562
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          396,362
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (64
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          143,562
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          396,362
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (64
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          3,015,557
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          3,397,216
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (11
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          10,715,748
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          10,844,437
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (1
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Operating income</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          397,206
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          181,644
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          119
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,660,996
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,437,724
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          16
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Interest, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (20,565
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (19,986
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          3
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (82,262
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (79,814
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          3
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td colspan="2" style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="top">
          Other income (expense), net
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          1,437
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (1,335
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          208
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          1,655
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (5,544
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          130
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Income before income taxes</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          378,078
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          160,323
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          136
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,580,389
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,352,366
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          17
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          <b>Income taxes</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          65,869
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          38,222
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          72
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          348,796
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          304,861
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          14
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          <b>Net income</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          312,209
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          122,101
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          156
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          1,231,593
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          1,047,505
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          18
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Earnings per common share</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Basic
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          0.73
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          0.28
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            161
          </p>
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2.90
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2.42
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          20
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Diluted
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          0.72
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          0.28
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          157
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2.85
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2.38
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          20
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="9" style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Weighted average shares outstanding</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Basic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          425,814
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          431,645
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          425,408
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          432,611
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Diluted
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          432,036
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          439,695
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          432,079
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          440,153
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Cash dividends per common share</b>
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          0.3700
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          0.3200
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          16
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1.3300
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1.1075
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          20
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="25" style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Basis of presentation of condensed consolidated financial
          statements: </b>VF operates and reports using a 52/53 week fiscal
          year ending on the Saturday closest to December 31 of each year. For
          presentation purposes herein, all references to the period ended
          December 2015 relate to the 13-week and 52-week fiscal periods ended
          January 2, 2016, and all references to the period ended December
          2014 relate to the 14-week and 53-week fiscal periods ended January
          3, 2015.
        </td>
      </tr>
      <tr>
        <td colspan="25">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px">
      <tr>
        <td colspan="9" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>VF CORPORATION</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Condensed Consolidated Balance Sheets</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(Unaudited)</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(In thousands)</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>December</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>December</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>2015</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: center; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>2014</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>ASSETS</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Current assets</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Cash and equivalents
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          945,605
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          971,895
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Accounts receivable, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,319,558
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,276,224
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Inventories
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,611,994
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,482,804
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="top">
          Other current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          285,979
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          300,646
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 40.0px" valign="top">
          Total current assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          4,163,136
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          4,031,569
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="2" style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Property, plant and equipment</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          988,159
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          942,181
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Intangible assets</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,112,619
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,433,552
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Goodwill</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,788,407
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,824,956
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          <b>Other assets</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          587,221
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          613,042
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 40.0px" valign="top">
          Total assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          9,639,542
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          9,845,300
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="9" style="text-align: left; padding-left: 0.0px" valign="top">
          <b>LIABILITIES AND STOCKHOLDERS' EQUITY</b>
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Current liabilities</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Short-term borrowings
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          449,590
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          21,822
        </td>
      </tr>
      <tr>
        <td colspan="2" style="text-align: left; padding-left: 20.0px" valign="top">
          Current portion of long-term debt
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          13,279
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          3,975
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 20.0px" valign="top">
          Accounts payable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          689,594
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          690,842
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 20.0px" valign="top">
          Accrued liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          789,250
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          897,426
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 40.0px" valign="top">
          Total current liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,941,713
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,614,065
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Long-term debt</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,401,820
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,413,847
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Other liabilities</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          911,171
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,186,506
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          <b>Stockholders' equity</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          5,384,838
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          5,630,882
        </td>
      </tr>
      <tr>
        <td colspan="2" style="text-align: left; padding-bottom: 4.0px; padding-left: 40.0px" valign="top">
          Total liabilities and stockholders' equity
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          9,639,542
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          9,845,300
        </td>
      </tr>
      <tr>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px">
      <tr>
        <td colspan="11" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>VF CORPORATION</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Condensed Consolidated Statements of Cash Flows</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(Unaudited)</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(In thousands)</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="7" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="top">
          <b>Twelve Months Ended December</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>2015</b>
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3" style="text-align: center; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>2014</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 5.0px" valign="top">
          <b>Operating activities</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="top">
          Net income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,231,593
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,047,505
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="3" style="text-align: left; padding-left: 25.0px" valign="top">
          Impairment of goodwill and intangible assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          143,562
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          396,362
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="top">
          Depreciation and amortization
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          272,075
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          274,883
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="3" style="text-align: left; padding-left: 25.0px" valign="top">
          Other noncash adjustments to net income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (150,979
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          18,299
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td colspan="3" style="text-align: left; padding-bottom: 2.0px; padding-left: 25.0px" valign="top">
          Changes in operating assets and liabilities
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (349,741
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (39,420
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 40.0px" valign="top">
          Cash provided by operating activities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,146,510
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,697,629
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 5.0px" valign="top">
          <b>Investing activities</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="top">
          Capital expenditures
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (254,501
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (234,077
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="top">
          Software purchases
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (63,283
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (67,943
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 25.0px" valign="top">
          Other, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (5,038
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (27,235
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 40.0px" valign="top">
          Cash used by investing activities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (322,822
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (329,255
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 5.0px" valign="top">
          <b>Financing activities</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="top">
          Net increase in short-term borrowings
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          432,262
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          4,761
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="top">
          Payments on long-term debt
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (3,975
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (4,760
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="top">
          Payments of debt issuance costs
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (1,475
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="top">
          Purchases of treasury stock
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (732,623
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (727,795
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="top">
          Cash dividends paid
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (565,275
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (478,933
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 25.0px" valign="top">
          Net impact of stock issuance
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          87,791
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          99,306
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 40.0px" valign="top">
          Cash used by financing activities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (783,295
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (1,107,421
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="3" style="text-align: left; padding-bottom: 2.0px; padding-left: 5.0px" valign="top">
          <b>Effect of foreign currency rate changes on cash and equivalents</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (66,683
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (65,461
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 5.0px" valign="top">
          <b>Net change in cash and equivalents</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (26,290
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          195,492
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 5.0px" valign="top">
          <b>Cash and equivalents - beginning of year</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          971,895
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          776,403
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 5.0px" valign="top">
          <b>Cash and equivalents - end of year</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          945,605
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          971,895
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px">
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="37" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>VF CORPORATION</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Supplemental Financial Information</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Business Segment Information</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(Unaudited)</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(In thousands)</b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="37">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td rowspan="3" colspan="2" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>% Change</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Currency</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Neutral**</b>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td rowspan="3" colspan="2" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>% Change</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Currency</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Neutral**</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="8" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>Three Months Ended December</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: center; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="8" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>Twelve Months Ended December</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: center; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: center; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>2015</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: center; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>2014</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>Change</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: center; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>2015</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: center; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>2014</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>Change</b>
        </td>
        <td>

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 5.0px" valign="bottom">
          <b>Coalition revenues</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="bottom">
          Outdoor &amp; Action Sports
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,100,662
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,164,324
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (3
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          7,400,446
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          7,198,994
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          3
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          9
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="bottom">
          Jeanswear
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          736,519
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          755,140
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (2
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,792,244
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,801,754
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          4
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="bottom">
          Imagewear
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          259,341
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          298,305
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (13
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (12
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,082,565
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,104,038
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (2
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (1
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="bottom">
          Sportswear
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          195,511
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          215,154
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (9
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (9
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          635,056
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          650,203
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (2
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (2
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="bottom">
          Contemporary Brands
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          86,484
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          106,694
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (19
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (17
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          344,089
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          400,431
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (14
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (11
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 25.0px" valign="bottom">
          Other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          34,246
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          39,243
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (13
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (13
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          122,344
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          126,741
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (3
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (3
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 5.0px" valign="bottom">
          Total coalition revenues
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          3,412,763
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          3,578,860
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (5
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (1
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          12,376,744
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          12,282,161
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          6
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 5.0px" valign="bottom">
          <b>Coalition profit</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="bottom">
          Outdoor &amp; Action Sports
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          385,723
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          432,345
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (11
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (5
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,266,763
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,312,963
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (4
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          7
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="bottom">
          Jeanswear
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          140,641
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          141,571
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (1
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          9
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          535,385
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          527,972
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          7
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="bottom">
          Imagewear
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          39,332
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          48,408
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (19
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (15
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          157,959
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          164,352
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (4
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="bottom">
          Sportswear
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          28,411
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          32,171
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (12
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (12
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          78,879
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          77,972
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="bottom">
          Contemporary Brands
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          901
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,809
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (50
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (1
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          5,845
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          23,420
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (75
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (64
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 25.0px" valign="bottom">
          Other
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (343
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (603
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: center; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">
          *
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: center; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">
          *
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          15,135
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (2,600
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: center; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">
          *
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: center; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">
          *
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 5.0px" valign="bottom">
          Total coalition profit
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          594,665
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          655,701
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (9
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (3
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,059,966
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,104,079
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (2
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          7
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Impairment of goodwill and intangible assets</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (143,562
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (396,362
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (64
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (64
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (143,562
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (396,362
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (64
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (64
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Corporate and other expenses</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (52,460
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (79,030
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (34
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (34
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (253,753
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (275,537
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (8
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (8
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %)
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="bottom">
          <b>Interest, net</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (20,565
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (19,986
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          3
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          3
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (82,262
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (79,814
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          3
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          3
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 2.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="bottom">
          <b>Income before income taxes</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          378,078
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          160,323
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          136
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          163
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          1,580,389
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          1,352,366
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          17
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          31
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="37" style="text-align: left; padding-left: 0.0px" valign="bottom">
          * Calculation not meaningful
        </td>
      </tr>
      <tr>
        <td colspan="37" style="text-align: left; padding-left: 0.0px" valign="bottom">
          **Refer to currency neutral definition on following page
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px">
      <tr>
        <td colspan="14" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>VF CORPORATION</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Supplemental Financial Information</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Business Segment Information &#8211; Currency Neutral Basis</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(Unaudited)</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(In thousands)</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="13">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="13" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="top">
          <b>Three Months Ended December 2015</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="4" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>As Reported</b>
        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Adjust for Foreign</b>
        </td>
        <td>

        </td>
        <td colspan="4">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="4" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="top">
          <b>under GAAP</b>
        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="top">
          <b>Currency Exchange</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="3" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="top">
          <b>Currency Neutral</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 5.0px" valign="top">
          <b>Coalition revenues</b>
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="top">
          Outdoor &amp; Action Sports
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,100,662
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          88,721
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,189,383
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="top">
          Jeanswear
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          736,519
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          23,764
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          760,283
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="top">
          Imagewear
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          259,341
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,797
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          262,138
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="top">
          Sportswear
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          195,511
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          195,511
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="top">
          Contemporary Brands
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          86,484
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,354
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          88,838
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 25.0px" valign="top">
          Other
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          34,246
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          -
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          34,246
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 5.0px" valign="top">
          Total coalition revenues
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          3,412,763
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          117,636
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          3,530,399
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 5.0px" valign="top">
          <b>Coalition profit</b>
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="top">
          Outdoor &amp; Action Sports
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          385,723
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          26,070
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          411,793
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="top">
          Jeanswear
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          140,641
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          14,079
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          154,720
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="top">
          Imagewear
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          39,332
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,820
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          41,152
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="top">
          Sportswear
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          28,411
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          28,411
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="top">
          Contemporary Brands
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          901
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          892
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,793
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 30.0px" valign="top">
          Other
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (343
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          -
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (343
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 5.0px" valign="top">
          Total coalition profit
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          594,665
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          42,861
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          637,526
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Impairment of goodwill and intangible assets</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (143,562
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (143,562
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Corporate and other expenses</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (52,460
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (23
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (52,483
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          <b>Interest, net</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (20,565
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          -
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (20,565
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          <b>Income before income taxes</b>
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          378,078
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          42,838
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          420,916
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          <b>Diluted earnings per share growth</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            157%
          </p>
        </td>
        <td style="text-align: left; border-bottom-style: double; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            29%
          </p>
        </td>
        <td style="text-align: left; border-bottom-style: double; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            186%
          </p>
        </td>
        <td style="text-align: left; border-bottom-style: double; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="14" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="14" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Currency Neutral Financial Information</b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="14" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            VF is a global company that reports financial information in U.S.
            dollars in accordance with GAAP.&#160;&#160;Foreign currency exchange rate
            fluctuations affect the amounts reported by VF from translating
            its foreign revenues and expenses into U.S. dollars, and from
            entering foreign currency transactions. These rate fluctuations
            can have a significant effect on reported operating results.&#160;&#160;As a
            supplement to our reported operating results, we present currency
            neutral financial information, which is a non-GAAP financial
            measure that excludes the incremental current year impact of
            foreign currency exchange. We use currency neutral information to
            provide a framework to assess how our business performed excluding
            the effects of changes in the rates used to calculate foreign
            currency translation and transaction gains and losses. Management
            believes this information is useful to investors to facilitate
            comparison of operating results and better identify trends in our
            businesses.
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            To calculate foreign currency translation on a currency neutral
            basis, operating results for the current year period for entities
            reporting in currencies other than the U.S. dollar are translated
            into U.S. dollars at the average exchange rates in effect during
            the comparable period of the prior year (rather than the actual
            exchange rates in effect during the current year period).
            Similarly, transaction gains and losses on a currency neutral
            basis are calculated using exchange rates from the comparable
            period of the prior year.&#160;&#160;&#160;&#160;&#160;&#160;
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            These currency neutral performance measures should be viewed in
            addition to, and not in lieu of or superior to, our operating
            performance measures calculated in accordance with GAAP.&#160;&#160;The
            currency neutral information presented may not be comparable to
            similarly titled measures reported by other companies.
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="14">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px">
      <tr>
        <td colspan="14" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>VF CORPORATION</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Supplemental Financial Information</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Reconciliation of Select GAAP Measures to Non-GAAP Measures</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(Unaudited)</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(In thousands, except per share amounts)</b>
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="9">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="4">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="13" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="top">
          <b>Twelve Months Ended December 2015</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="4" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>As Reported</b>
        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Adjust for Foreign</b>
        </td>
        <td>

        </td>
        <td colspan="4">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="4" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="top">
          <b>under GAAP</b>
        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="top">
          <b>Currency Exchange</b>
        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td colspan="3" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="top">
          <b>Currency Neutral</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 5.0px" valign="top">
          <b>Coalition revenues</b>
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="top">
          Outdoor &amp; Action Sports
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          7,400,446
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          470,565
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          7,871,011
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="top">
          Jeanswear
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,792,244
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          111,336
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,903,580
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="top">
          Imagewear
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,082,565
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          9,797
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,092,362
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="top">
          Sportswear
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          635,056
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          635,056
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 25.0px" valign="top">
          Contemporary Brands
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          344,089
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          13,398
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          357,487
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 25.0px" valign="top">
          Other
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          122,344
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          -
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          122,344
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 5.0px" valign="top">
          Total coalition revenues
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          12,376,744
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          605,096
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          12,981,840
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 5.0px" valign="top">
          <b>Coalition profit</b>
        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="top">
          Outdoor &amp; Action Sports
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,266,763
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          143,604
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,410,367
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="top">
          Jeanswear
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          535,385
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          32,118
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          567,503
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="top">
          Imagewear
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          157,959
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          5,818
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          163,777
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="top">
          Sportswear
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          78,879
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          78,879
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 30.0px" valign="top">
          Contemporary Brands
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          5,845
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,494
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          8,339
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 30.0px" valign="top">
          Other
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          15,135
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          -
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          15,135
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 5.0px" valign="top">
          Total coalition profit
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,059,966
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          184,034
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2,244,000
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Impairment of goodwill and intangible assets</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (143,562
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          -
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (143,562
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Corporate and other expenses</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (253,753
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          881
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          (252,872
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 0.0px" valign="top">
          <b>Interest, net</b>
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (82,262
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          -
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          (82,262
        </td>
        <td style="text-align: left; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          <b>Income before income taxes</b>
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          1,580,389
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          184,915
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          1,765,304
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 0.0px" valign="top">
          <b>Diluted earnings per share growth</b>
        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            20%
          </p>
        </td>
        <td style="text-align: left; border-bottom-style: double; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            15%
          </p>
        </td>
        <td style="text-align: left; border-bottom-style: double; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom-style: double; border-bottom-width: 2.25pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            35%
          </p>
        </td>
        <td style="text-align: left; border-bottom-style: double; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="5" style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Currency Neutral Financial Information</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td colspan="14" style="text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            VF is a global company that reports financial information in U.S.
            dollars in accordance with GAAP. Foreign currency exchange rate
            fluctuations affect the amounts reported by VF from translating
            its foreign revenues and expenses into U.S. dollars, and from
            entering foreign currency transactions. These rate fluctuations
            can have a significant effect on reported operating results. As a
            supplement to our reported operating results, we present currency
            neutral financial information, which is a non-GAAP financial
            measure that excludes the incremental current year impact of
            foreign currency exchange. We use currency neutral information to
            provide a framework to assess how our business performed excluding
            the effects of changes in the rates used to calculate foreign
            currency translation and transaction gains and losses. Management
            believes this information is useful to investors to facilitate
            comparison of operating results and better identify trends in our
            businesses.
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            To calculate foreign currency translation on a currency neutral
            basis, operating results for the current year period for entities
            reporting in currencies other than the U.S. dollar are translated
            into U.S. dollars at the average exchange rates in effect during
            the comparable period of the prior year (rather than the actual
            exchange rates in effect during the current year period).
            Similarly, transaction gains and losses on a currency neutral
            basis are calculated using exchange rates from the comparable
            period of the prior year.
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            These currency neutral performance measures should be viewed in
            addition to, and not in lieu of or superior to, our operating
            performance measures calculated in accordance with GAAP. The
            currency neutral information presented may not be comparable to
            similarly titled measures reported by other companies.
          </p>
        </td>
      </tr>
      <tr>
        <td colspan="14">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="text-indent: 0pt; margin-left: 0pt; width: 100%; margin-right: 0pt; margin-bottom: 10pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; width: 100%; font-family: Times New Roman; margin-bottom: 10.0px">
      <tr>
        <td colspan="13" style="text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>VF CORPORATION</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Supplemental Financial Information</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Reconciliation of Select GAAP Measures to Non-GAAP Measures</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(Unaudited)</b>
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(In thousands, except per share amounts)</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Three Months</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Three Months</b>
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Ended</b>
        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Operating</b>
        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Ended</b>
        </td>
        <td colspan="2" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Operating</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="top">
          <b>December 2015</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="top">
          <b>Margin</b>
        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="top">
          <b>December 2014</b>
        </td>
        <td colspan="2" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="top">
          <b>Margin</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 5.0px" valign="top">
          <b>Operating Income, as reported under GAAP</b>
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          397,206
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <i>11.6</i>
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <i>%</i>
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          181,644
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <i>5.1</i>
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="top">
          Impairment of goodwill and intangible assets
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          143,562
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          396,362
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 5.0px" valign="top">
          <b>Operating Income, as adjusted</b>
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>540,768</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <i>15.8</i>
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <i>%</i>
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>578,006</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <i>16.2</i>
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 5.0px" valign="top">
          <b>Net Income, as reported under GAAP</b>
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          312,209
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          122,101
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="top">
          Impairment of goodwill and intangible assets
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          97,110
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          306,831
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 5.0px" valign="top">
          <b>Net Income, as adjusted</b>
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>409,319</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>428,932</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 5.0px" valign="top">
          <b>Diluted earnings per share, as reported under GAAP</b>
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          0.72
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          0.28
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="top">
          Impairment of goodwill and intangible assets
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          0.23
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          0.70
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 5.0px" valign="top">
          <b>Diluted earnings per share, as adjusted</b>
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          0.95
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          0.98
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Twelve Months</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Twelve Months</b>
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Ended</b>
        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Operating</b>
        </td>
        <td colspan="3" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Ended</b>
        </td>
        <td colspan="2" style="text-align: center; padding-left: 0.0px" valign="top">
          <b>Operating</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="3" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="top">
          <b>December 2015</b>
        </td>
        <td>

        </td>
        <td colspan="2" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="top">
          <b>Margin</b>
        </td>
        <td>

        </td>
        <td colspan="3" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="top">
          <b>December 2014</b>
        </td>
        <td colspan="2" style="text-align: center; border-bottom-style: solid; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="top">
          <b>Margin</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 5.0px" valign="top">
          <b>Operating Income, as reported under GAAP</b>
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,660,996
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <i>13.4</i>
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <i>%</i>
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,437,724
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <i>11.7</i>
        </td>
        <td style="text-align: left; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="top">
          Impairment of goodwill and intangible assets
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          143,562
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          396,362
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 5.0px" valign="top">
          <b>Operating Income, as adjusted</b>
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>1,804,558</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <i>14.6</i>
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <i>%</i>
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>1,834,086</b>
        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <i>14.9</i>
        </td>
        <td style="text-align: left; white-space: nowrap; padding-bottom: 4.0px; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 5.0px" valign="top">
          <b>Net Income, as reported under GAAP</b>
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,231,593
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          1,047,505
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="top">
          Impairment of goodwill and intangible assets
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          97,110
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          306,831
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 5.0px" valign="top">
          <b>Net Income, as adjusted</b>
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>1,328,703</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>$</b>
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          <b>1,354,336</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 5.0px" valign="top">
          <b>Diluted earnings per share, as reported under GAAP</b>
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2.85
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px" valign="bottom">
          2.38
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 2.0px; padding-left: 10.0px" valign="top">
          Impairment of goodwill and intangible assets
        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          0.23
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="border-bottom-style: solid; border-bottom-width: 1.0pt; border-bottom-color: black">
          &#160;
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: solid; padding-right: 0.0px; border-bottom-width: 1.0pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          0.70
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-bottom: 4.0px; padding-left: 5.0px" valign="top">
          <b>Diluted earnings per share, as adjusted</b>
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          3.08
        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          $
        </td>
        <td style="text-align: right; white-space: nowrap; border-bottom-style: double; padding-right: 0.0px; border-bottom-width: 2.25pt; padding-left: 0.0px; border-bottom-color: black" valign="bottom">
          3.08
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: left; padding-left: 0.0px" valign="top">
          <b>Non-GAAP Financial Information</b>
        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td colspan="13" style="text-align: left; padding-left: 0.0px" valign="top">
          The financial information above has been presented on a GAAP basis
          and on an adjusted basis which excludes the impact of impairment
          charges for goodwill and intangible assets. These adjusted
          presentations are non-GAAP measures. Management believes these
          measures provide investors with useful supplemental information
          regarding VF's underlying business trends and the performance of
          VF's ongoing operations and are useful for period-over-period
          comparisons of such operations.
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="13" style="text-align: left; padding-left: 0.0px" valign="top">
          Management uses the above financial measures internally in its
          budgeting and review process and, in some cases, as a factor in
          determining compensation. While management believes that these
          non-GAAP financial measures are useful in evaluating the business,
          this information should be considered as supplemental in nature and
          should be viewed in addition to, and not in lieu of or superior to,
          VF's operating performance measures calculated in accordance with
          GAAP. In addition, these non-GAAP financial measures may not be the
          same as similarly titled measures presented by other companies.
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br><b>VF Corporation</b><br>Lance Allega<br>V.P., Investor
      Relations &amp; Strategic Accounts<br>336-424-6082<br>or<br>Craig Hodges<br>Director,
      Public Relations<br>336-424-5636
    </p>
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