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RESTRUCTURING | 3 Months Ended
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Mar. 31, 2018
Restructuring and Related Activities [Abstract] |
RESTRUCTURING | RESTRUCTURING The Company typically incurs restructuring charges related to the cost optimization of business activities. During the three months ended March 2018, VF leadership approved $14.9 million of restructuring charges related to cost optimization activities, of which $10.8 million was recognized in selling, general and administrative expenses and $4.1 million in cost of goods sold. The Company has not recognized significant incremental costs related to the 2016 and 2017 initiatives. Management expects to recognize additional expense for cost optimization activities during Fiscal 2019. Of the $43.6 million total restructuring accrual at March 2018, $36.4 million is expected to be paid out within the next 12 months and is classified within accrued liabilities. The remaining $7.2 million will be paid out beyond the next 12 months and thus is classified within other liabilities. The activity in the restructuring accrual for the three-month period ended March 2018 is as follows:
(In thousands) | Severance |  | Other |  | Total
Accrual at December 2017 | $ | 33,808 |  |  | $ | 4,436 |  |  | $ | 38,244 |
Charges | 14,927 |  |  | — |  |  | 14,927 |
Cash payments | (4,658 | ) |  | (3,992 | ) |  | (8,650 | )
Adjustments to accruals | (1,033 | ) |  | — |  |  | (1,033 | )
Currency translation | 101 |  |  | — |  |  | 101 |
Accrual at March 2018 | $ | 43,145 |  |  | $ | 444 |  |  | $ | 43,589 |
Restructuring costs by business segment are as follows:
(In thousands) |  | 2018 Charges |
Outdoor & Action Sports |  | $ | 4,550 |  |
Jeanswear |  | 2,575 |  |
Imagewear |  | 7,802 |  |
Total |  | $ | 14,927 |  |

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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