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Capital and Accumulated Other Comprehensive Loss | 12 Months Ended
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Dec. 31, 2016
Equity [Abstract] |
Capital and Accumulated Other Comprehensive Loss | Capital and Accumulated Other Comprehensive Loss Common Stock During 2016, the Company purchased 15.9 million shares of Common Stock in open market transactions for $1.0 billion under its share repurchase program authorized by VF’s Board of Directors. These transactions were treated as treasury stock transactions. Common Stock outstanding is net of shares held in treasury which are, in substance, retired. During 2016, 2015 and 2014, VF restored 16.1 million, 10.1 million and 12.1 million treasury shares, respectively, to an unissued status, after which they were no longer recognized as shares held in treasury. There were no shares held in treasury at the end of 2016, 2015 or 2014. The excess of the cost of treasury shares acquired over the $0.25 per share stated value of Common Stock is deducted from retained earnings. VF Common Stock is also held by the Company’s deferred compensation plans (Note M) and is treated as treasury shares for financial reporting purposes. During 2016, the Company purchased 8,300 shares of Common Stock in open market transactions for $0.5 million. Balances related to shares held for deferred compensation plans are as follows:
| 2016 |  | 2015 |  | 2014
| In thousands, except share amounts
Shares held for deferred compensation plans | 439,667 |  |  | 562,649 |  |  | 637,504 |
Cost of shares held for deferred compensation plans | $ | 5,464 |  |  | $ | 6,823 |  |  | $ | 7,724 |
Accumulated Other Comprehensive Loss Comprehensive income consists of net income and specified components of OCI, which relates to changes in assets and liabilities that are not included in net income under GAAP but are instead deferred and accumulated within a separate component of stockholders’ equity in the balance sheet. VF’s comprehensive income is presented in the Consolidated Statements of Comprehensive Income. The deferred components of OCI are reported, net of related income taxes, in accumulated OCI in stockholders’ equity, as follows:
| 2016 |  | 2015
| In thousands
Foreign currency translation and other | $ | (794,579 | ) |  | $ | (718,169 | )
Defined benefit pension plans | (302,697 | ) |  | (372,195 | )
Derivative financial instruments | 55,813 |  |  | 47,142 |
Accumulated other comprehensive loss | $ | (1,041,463 | ) |  | $ | (1,043,222 | )
The changes in accumulated OCI, net of related taxes, are as follows:
| Foreign Currency Translation and Other |  | Defined Benefit Pension Plans |  | Derivative Financial Instruments |  | Marketable Securities |  | Total
| In thousands
Balance, December 2013 | $ | 106,647 |  |  | $ | (277,451 | ) |  | $ | (41,754 | ) |  | $ | 838 |  |  | $ | (211,720 | )
Other comprehensive income (loss) before reclassifications | (463,588 | ) |  | (126,275 | ) |  | 53,651 |  |  | (424 | ) |  | (536,636 | )
Amounts reclassified from accumulated other comprehensive income (loss) | — |  |  | 26,592 |  |  | 19,492 |  |  | — |  |  | 46,084 |
Net other comprehensive income (loss) | (463,588 | ) |  | (99,683 | ) |  | 73,143 |  |  | (424 | ) |  | (490,552 | )
Balance, December 2014 | (356,941 | ) |  | (377,134 | ) |  | 31,389 |  |  | 414 |  |  | (702,272 | )
Other comprehensive income (loss) before reclassifications | (361,228 | ) |  | (37,238 | ) |  | 55,325 |  |  | 300 |  |  | (342,841 | )
Amounts reclassified from accumulated other comprehensive income (loss) | — |  |  | 42,177 |  |  | (39,572 | ) |  | (714 | ) |  | 1,891 |
Net other comprehensive income (loss) | (361,228 | ) |  | 4,939 |  |  | 15,753 |  |  | (414 | ) |  | (340,950 | )
Balance, December 2015 | (718,169 | ) |  | (372,195 | ) |  | 47,142 |  |  | — |  |  | (1,043,222 | )
Other comprehensive income (loss) before reclassifications | (76,410 | ) |  | (4,357 | ) |  | 81,036 |  |  | — |  |  | 269 |
Amounts reclassified from accumulated other comprehensive income (loss) | — |  |  | 73,855 |  |  | (72,365 | ) |  | — |  |  | 1,490 |
Net other comprehensive income (loss) | (76,410 | ) |  | 69,498 |  |  | 8,671 |  |  | — |  |  | 1,759 |
Balance, December 2016 | $ | (794,579 | ) |  | $ | (302,697 | ) |  | $ | 55,813 |  |  | $ | — |  |  | $ | (1,041,463 | )
Reclassifications out of accumulated OCI are as follows:
| Details About Accumulated Other Comprehensive Income (Loss) Components | Affected Line Item in the Consolidated Statements of Income |  | 2016 |  | 2015 |  | 2014
|  |  |  | In thousands
| Amortization of defined benefit pension plans: |  |  |  |  |  |  |
| Net deferred actuarial losses | (a) |  | $ | (65,212 | ) |  | $ | (61,966 | ) |  | $ | (37,518 | )
| Deferred prior service costs | (a) |  | (2,584 | ) |  | (3,038 | ) |  | (5,445 | )
| Pension settlement charges | Selling, general and administrative expenses |  | (50,922 | ) |  | (4,062 | ) |  | — |
|  | Total before tax |  | (118,718 | ) |  | (69,066 | ) |  | (42,963 | )
|  | Tax benefit |  | 44,863 |  |  | 26,889 |  |  | 16,371 |
|  | Net of tax |  | (73,855 | ) |  | (42,177 | ) |  | (26,592 | )
| Gains (losses) on derivative financial instruments: |  |  |  |  |  |  |
| Foreign exchange contracts | Net sales |  | 28,798 |  |  | (68,543 | ) |  | (18,071 | )
| Foreign exchange contracts | Cost of goods sold |  | 84,613 |  |  | 132,432 |  |  | (8,756 | )
| Foreign exchange contracts | Selling, general and administrative expenses |  | (4,314 | ) |  | (1,885 | ) |  | — |
| Foreign exchange contracts | Other income (expense), net |  | 2,864 |  |  | 7,267 |  |  | (1,189 | )
| Interest rate contracts | Interest expense |  | (4,504 | ) |  | (4,295 | ) |  | (4,095 | )
|  | Total before tax |  | 107,457 |  |  | 64,976 |  |  | (32,111 | )
|  | Tax benefit (expense) |  | (35,092 | ) |  | (25,404 | ) |  | 12,619 |
|  | Net of tax |  | 72,365 |  |  | 39,572 |  |  | (19,492 | )
| Gains (losses) on sale of marketable securities: | Other income (expense), net |  | — |  |  | 1,177 |  |  | — |
|  | Tax expense |  | — |  |  | (463 | ) |  | — |
|  | Net of tax |  | — |  |  | 714 |  |  | — |
| Total reclassifications for the year | Net of tax |  | $ | (1,490 | ) |  | $ | (1,891 | ) |  | $ | (46,084 | )
(a) | These accumulated OCI components are included in the computation of net periodic pension cost (refer to Note M for additional details).

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