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DISCONTINUED OPERATIONS (Tables) | 12 Months Ended
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Dec. 30, 2017
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Discontinued Operations Presented in Financial Statements | 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) |  | 2017 |  |  | 2016
Accounts receivable, net |  | $ | 35,826 |  |  |  | $ | 48,881 |
Inventories |  | 44,735 |  |  |  | 144,754 |
Other current assets |  | 2,771 |  |  |  | 4,345 |
Property, plant and equipment |  | 26,852 |  |  |  | 43,690 |
Intangible assets |  | 262,352 |  |  |  | 305,770 |
Goodwill |  | 49,005 |  |  |  | 182,292 |
Other assets |  | 6,053 |  |  |  | 7,570 |
Allowance to adjust assets to estimated fair value, less costs of disposal |  | (25,529 | ) |  |  | — |
Total assets of discontinued operations(a) |  | $ | 402,065 |  |  |  | $ | 737,302 |
Accounts payable |  | $ | 22,421 |  |  |  | $ | 44,450 |
Accrued liabilities |  | 21,408 |  |  |  | 29,006 |
Other liabilities |  | 13,449 |  |  |  | 14,624 |
Deferred income tax liabilities(b) |  | 53,474 |  |  |  | 73,337 |
Total liabilities of discontinued operations(a) |  | $ | 110,752 |  |  |  | $ | 161,417 |
(a) | Amounts at December 2016 have been classified as current and long-term in the Consolidated Balance Sheet.
(b) | Deferred income tax balances reflect VF's consolidated netting by jurisdiction.
The following table summarizes the major line items included in the income (loss) from discontinued operations for the Nautica® brand business, the Licensing Business and the Contemporary Brands coalition:
(In thousands) |  | 2017 |  |  | 2016 |  | 2015
Revenues |  | $ | 588,383 |  |  |  | $ | 1,180,677 |  |  | $ | 1,380,351 |
Cost of goods sold |  | 349,382 |  |  |  | 691,715 |  |  | 790,034 |
Selling, general and administrative expenses |  | 191,898 |  |  |  | 354,773 |  |  | 430,587 |
Impairment of goodwill and intangible assets |  | 104,651 |  |  |  | — |  |  | 143,562 |
Interest income (expense), net |  | (27 | ) |  |  | (199 | ) |  | (663 | )
Other income (expense), net |  | 6 |  |  |  | 2 |  |  | 627 |
Income (loss) from discontinued operations before income taxes |  | (57,569 | ) |  |  | 133,992 |  |  | 16,132 |
Loss on the sale of discontinued operations, before income taxes |  | (34,019 | ) |  |  | (154,275 | ) |  | — |
Total income (loss) from discontinued operations before income taxes |  | (91,588 | ) |  |  | (20,283 | ) |  | 16,132 |
Income tax (expense) benefit(a) |  | (14,698 | ) |  |  | 15,535 |  |  | (1,595 | )
Income (loss) from discontinued operations, net of tax |  | $ | (106,286 | ) |  |  | $ | (4,748 | ) |  | $ | 14,537 |
(a) | The full year 2017 income tax expense is impacted by $8.6 million of tax expense related to GAAP and tax basis differences for LSG. Additionally, the 2017 goodwill impairment charge and estimated loss on sale related to the Nautica® brand business were nondeductible for income tax purposes.
The following table summarizes depreciation and amortization, capital expenditures and the significant operating noncash items from discontinued operations for each of the periods presented:
(In thousands) |  | 2017 |  |  | 2016 |  | 2015
Depreciation and amortization |  | $ | 14,023 |  |  |  | $ | 27,360 |  |  | $ | 39,189 |
Capital expenditures |  | 2,592 |  |  |  | 4,795 |  |  | 13,536 |
Impairment of goodwill and intangible assets |  | 104,651 |  |  |  | — |  |  | 143,562 |

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