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Discontinued Operations (Tables) | 3 Months Ended
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Apr. 01, 2017
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Discontinued Operations Presented in Financial Statements | The following table summarizes the major line items included in the income (loss) from discontinued operations for the divestitures of the Licensing Business and Contemporary Brands coalition:
| Three Months Ended March
In thousands | 2017 |  | 2016
Revenues | $ | 121,330 |  |  | $ | 204,883 |
Cost of goods sold | 88,221 |  |  | 121,306 |
Selling, general and administrative expenses | 25,637 |  |  | 59,122 |
Interest expense, net | (18 | ) |  | (135 | )
Other income (expense), net | — |  |  | (2 | )
Income from discontinued operations before income taxes | 7,454 |  |  | 24,318 |
Estimated loss on the disposal of discontinued operations before income taxes | (3,531 | ) |  | — |
Total income from discontinued operations before income taxes | 3,923 |  |  | 24,318 |
Income tax expense(a) | (9,439 | ) |  | (5,984 | )
Income (loss) from discontinued operations, net of tax | $ | (5,516 | ) |  | $ | 18,334 |
(a) | Income tax expense for the three months ended March 2017 includes $7.5 million of deferred tax expense related to GAAP and tax basis differences for LSG.
The following table summarizes the carrying amounts of major classes of assets and liabilities of discontinued operations for each of the periods presented.
In thousands | March 2017 |  | December 2016 |  | March 2016
Accounts receivable, net | $ | 44,281 |  |  | $ | 36,285 |  |  | $ | 71,113 |
Inventories | 94,718 |  |  | 98,025 |  |  | 148,812 |
Other current assets, including cash and equivalents | 14,650 |  |  | 1,535 |  |  | 7,849 |
Property, plant and equipment | 11,696 |  |  | 13,640 |  |  | 56,017 |
Intangible assets | 40,164 |  |  | 42,427 |  |  | 212,852 |
Goodwill | 28,636 |  |  | 28,636 |  |  | 28,636 |
Other assets | 921 |  |  | 692 |  |  | 4,297 |
Total assets of discontinued operations(a) | $ | 235,066 |  |  | $ | 221,240 |  |  | $ | 529,576 |
Accounts payable | $ | 21,789 |  |  | $ | 21,674 |  |  | $ | 21,538 |
Accrued liabilities | 2,849 |  |  | 13,531 |  |  | 8,767 |
Other liabilities | 763 |  |  | 791 |  |  | 11,504 |
Deferred income tax liabilities(b) | (4,080 | ) |  | (4,081 | ) |  | (4,140 | )
Total liabilities of discontinued operations(a) | $ | 21,321 |  |  | $ | 31,915 |  |  | $ | 37,669 |
(a) | Amounts at December 2016 and March 2016 have been classified as current and long-term in the Consolidated Balance Sheets.
(b) | Deferred income tax balances reflect VF’s consolidated netting by jurisdiction.

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- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=65878427&loc=SL51721533-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721665-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1474-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721683-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=64862545&loc=SL51724579-110230 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721675-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721663-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64862545&loc=d3e2941-110230 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721673-107760 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721659-107760 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721671-107760 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760 + Details
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