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DISCONTINUED OPERATIONS (Tables) | 3 Months Ended
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Mar. 31, 2018
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Discontinued Operations Presented in Financial Statements | The following table summarizes the major line items for the Nautica® brand business and the Licensing Business that are included in the loss from discontinued operations, net of tax line item in the Consolidated Statements of Income:
|  | Three Months Ended March
(In thousands) |  | 2018 |  |  | 2017
Revenues |  | $ | 94,362 |  |  |  | $ | 202,667 |
Cost of goods sold |  | 48,946 |  |  |  | 131,301 |
Selling, general and administrative expenses |  | 34,649 |  |  |  | 62,073 |
Interest expense, net |  | — |  |  |  | (17 | )
Income from discontinued operations before income taxes |  | 10,767 |  |  |  | 9,276 |
Loss on the sale of discontinued operations before income taxes |  | (18,065 | ) |  |  | (3,531 | )
Total income (loss) from discontinued operations before income taxes |  | (7,298 | ) |  |  | 5,745 |
Income tax expense (a) |  | (1,073 | ) |  |  | (9,858 | )
Loss from discontinued operations, net of tax |  | $ | (8,371 | ) |  |  | $ | (4,113 | )
(a) | The 2018 adjustment to the estimated loss on sale related to the Nautica® brand business was nondeductible for income tax purposes. 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 2018 |  |  | December 2017 (c) |  | March 2017 (c)
Cash |  | $ | 2,330 |  |  |  | $ | 2,592 |  |  | $ | 1,182 |
Accounts receivable, net |  | 26,298 |  |  |  | 27,941 |  |  | 56,208 |
Inventories |  | 55,610 |  |  |  | 43,297 |  |  | 146,768 |
Other current assets |  | 1,247 |  |  |  | 2,497 |  |  | 15,778 |
Property, plant and equipment, net |  | 15,021 |  |  |  | 14,914 |  |  | 28,495 |
Intangible assets |  | 262,202 |  |  |  | 262,352 |  |  | 305,509 |
Goodwill |  | 49,005 |  |  |  | 49,005 |  |  | 182,292 |
Other assets |  | 3,961 |  |  |  | 3,631 |  |  | 3,835 |
Allowance to reduce assets to estimated fair value, less costs to sell |  | (42,094 | ) |  |  | (25,529 | ) |  | — |
Total assets of discontinued operations (a) |  | $ | 373,580 |  |  |  | $ | 380,700 |  |  | $ | 740,067 |
Accounts payable |  | $ | 11,619 |  |  |  | $ | 16,993 |  |  | $ | 34,197 |
Accrued liabilities |  | 10,658 |  |  |  | 18,203 |  |  | 15,726 |
Other liabilities |  | 11,912 |  |  |  | 12,011 |  |  | 13,184 |
Deferred income tax liabilities (b) |  | 51,838 |  |  |  | 53,812 |  |  | 73,651 |
Total liabilities of discontinued operations (a) |  | $ | 86,027 |  |  |  | $ | 101,019 |  |  | $ | 136,758 |
(a) | Amounts at March 2017 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.
(c) | Certain assets and liabilities previously reported as discontinued operations will be retained by VF based on the terms of the definitive sale agreement, and thus have been removed from discontinued operations for all periods presented. The impact was not material to any periods presented.

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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=84176398&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=84176398&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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