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DISCONTINUED OPERATIONS AND OTHER DIVESTITURES (Tables) | 6 Months Ended
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Sep. 29, 2018
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Discontinued Operations Presented in Financial Statements | The following table presents the assets and liabilities of the Reef® brand and Van Moer businesses at September 2018:
(In thousands) |  | September 2018 |
Cash |  | $ | 2,059 |  |
Accounts receivable, net |  | 19,013 |  |
Inventories |  | 32,856 |  |
Other current assets |  | 1,649 |  |
Property, plant and equipment, net |  | 4,859 |  |
Intangible assets |  | 83,332 |  |
Goodwill |  | 48,381 |  |
Other assets |  | 24 |  |
Allowance to reduce assets to estimated fair value, less costs to sell |  | (32,321 | ) |
Total assets held-for-sale |  | $ | 159,852 |  |
Accounts payable |  | $ | 4,030 |  |
Accrued liabilities |  | 5,857 |  |
Other liabilities |  | 1,471 |  |
Total liabilities held-for-sale |  | $ | 11,358 |  |
The following table summarizes the major line items for the Nautica® brand business and the Licensing Business that are included in the income (loss) from discontinued operations, net of tax line item in the Consolidated Statements of Income:
|  | Three Months Ended September |  |  | Six Months Ended September
(In thousands) |  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017
Net revenues |  | $ | — |  |  |  | $ | 122,382 |  |  |  | $ | 21,913 |  |  |  | $ | 245,838 |
Cost of goods sold |  | — |  |  |  | 69,287 |  |  |  | 14,706 |  |  |  | 140,193 |
Selling, general and administrative expenses |  | — |  |  |  | 39,867 |  |  |  | 12,391 |  |  |  | 85,469 |
Impairment of goodwill |  | — |  |  |  | 104,651 |  |  |  | — |  |  |  | 104,651 |
Interest expense, net |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | (8 | )
Other income, net |  | — |  |  |  | 3 |  |  |  | 272 |  |  |  | 8 |
Loss from discontinued operations before income taxes |  | — |  |  |  | (91,421 | ) |  |  | (4,912 | ) |  |  | (84,475 | )
Gain (loss) on the sale of discontinued operations before income taxes |  | — |  |  |  | 411 |  |  |  | 4,206 |  |  |  | (5,975 | )
Total loss from discontinued operations before income taxes |  | — |  |  |  | (91,010 | ) |  |  | (706 | ) |  |  | (90,450 | )
Income tax benefit |  | — |  |  |  | 3,330 |  |  |  | 1,111 |  |  |  | 5,567 |
Income (loss) from discontinued operations, net of tax |  | $ | — |  |  |  | $ | (87,680 | ) |  |  | $ | 405 |  |  |  | $ | (84,883 | )
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) |  | September 2018 |  |  | March 2018 |  | September 2017
Cash |  | $ | — |  |  |  | $ | 2,330 |  |  | $ | 593 |
Accounts receivable, net |  | — |  |  |  | 26,298 |  |  | 36,232 |
Inventories |  | — |  |  |  | 55,610 |  |  | 66,112 |
Other current assets |  | — |  |  |  | 1,247 |  |  | 1,034 |
Property, plant and equipment, net |  | — |  |  |  | 15,021 |  |  | 15,861 |
Intangible assets |  | — |  |  |  | 262,202 |  |  | 263,349 |
Goodwill |  | — |  |  |  | 49,005 |  |  | 49,005 |
Other assets |  | — |  |  |  | 3,961 |  |  | 2,984 |
Allowance to reduce assets to estimated fair value, less costs to sell |  | — |  |  |  | (42,094 | ) |  | — |
Total assets of discontinued operations (a) |  | $ | — |  |  |  | $ | 373,580 |  |  | $ | 435,170 |
Accounts payable |  | $ | — |  |  |  | $ | 11,619 |  |  | $ | 21,726 |
Accrued liabilities |  | — |  |  |  | 10,658 |  |  | 15,074 |
Other liabilities |  | — |  |  |  | 11,912 |  |  | 12,192 |
Deferred income tax liabilities (b) |  | — |  |  |  | 51,838 |  |  | 77,731 |
Total liabilities of discontinued operations (a) |  | $ | — |  |  |  | $ | 86,027 |  |  | $ | 126,723 |
(a) | Amounts at September 2017 related to the Nautica® brand business have been classified as current and noncurrent in the Consolidated Balance Sheets.
(b) | Deferred income tax balances reflect VF’s consolidated netting by jurisdiction.

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