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RESTRUCTURING | 12 Months Ended
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Mar. 30, 2019
Restructuring and Related Activities [Abstract] |
RESTRUCTURING | RESTRUCTURING The Company typically incurs restructuring charges related to strategic initiatives and cost optimization of business activities, primarily related to severance and employee-related benefits. Of the $107.6 million of restructuring charges recognized in the year ended March 2019, $70.2 million were reflected in selling, general and administrative expenses and $37.4 million in cost of goods sold. Of the $14.9 million million of restructuring charges recognized in the three months ended March 2018, $10.8 million were reflected in selling, general and administrative expenses and $4.1 million in cost of goods sold. Of the $27.0 million of restructuring charges recognized in the year ended December 2017, $20.2 million were reflected in selling, general and administrative expenses and $6.8 million in cost of goods sold. Of the $55.1 million of restructuring charges recognized in the year ended December 2016, $31.8 million were reflected in selling, general and administrative expenses and $23.3 million in cost of goods sold. The Company did not recognize significant incremental costs related to the actions for the years ended December 2017 and 2016 during the three months ended March 2018 or the year ended March 2019, and has completed most of the related restructuring activities as of March 2019. Of the total restructuring accrual at March 2019, $86.6 million is expected to be paid out within the next 12 months and is classified within accrued liabilities. The remaining $5.7 million will be paid out beyond the next 12 months and thus is classified within other liabilities. The components of the restructuring charges are as follows:
(In thousands) |  | Year Ended March 2019 Charges |  |  | Three Months Ended March 2018 Charges |  | Year Ended December 2017 Charges |  | Year Ended December 2016 Charges
Severance and employee-related benefits |  | $ | 79,693 |  |  |  | $ | 14,927 |  |  | $ | 22,611 |  |  | $ | 50,395 |
Asset impairments |  | 5,705 |  |  |  | — |  |  | — |  |  | 3,394 |
Inventory write-downs |  | 6,574 |  |  |  | — |  |  | — |  |  | — |
Contract termination and other |  | 15,643 |  |  |  | — |  |  | 4,436 |  |  | 1,310 |
Total restructuring charges |  | $ | 107,615 |  |  |  | $ | 14,927 |  |  | $ | 27,047 |  |  | $ | 55,099 |
Restructuring costs by business segment are as follows:
(In thousands) |  | Year Ended March 2019 Charges |  |  | Three Months Ended March 2018 Charges |  | Year Ended December 2017 Charges |  | Year Ended December 2016 Charges
Outdoor |  | $ | 38,952 |  |  |  | $ | 4,550 |  |  | $ | 10,393 |  |  | $ | 14,137 |
Active |  | 13,579 |  |  |  | — |  |  | 2,400 |  |  | 3,946 |
Work |  | 10,003 |  |  |  | 7,802 |  |  | 3,895 |  |  | 1,308 |
Jeans |  | 39,936 |  |  |  | 2,575 |  |  | 6,993 |  |  | 20,357 |
Other |  | 167 |  |  |  | — |  |  | — |  |  | 1,277 |
Corporate |  | 4,978 |  |  |  | — |  |  | 3,366 |  |  | 14,074 |
Total |  | $ | 107,615 |  |  |  | $ | 14,927 |  |  | $ | 27,047 |  |  | $ | 55,099 |
The activity in the restructuring accrual is as follows:
(In thousands) |  | Severance |  | Other |  | Total |
Accrual at December 2016 |  | $ | 49,728 |  |  | $ | 878 |  |  | $ | 50,606 |  |
Charges |  | 22,611 |  |  | 4,436 |  |  | 27,047 |  |
Cash payments and settlements |  | (37,349 | ) |  | (878 | ) |  | (38,227 | ) |
Adjustments to accruals |  | (2,783 | ) |  | — |  |  | (2,783 | ) |
Currency translation |  | 1,601 |  |  | — |  |  | 1,601 |  |
Accrual at December 2017 |  | 33,808 |  |  | 4,436 |  |  | 38,244 |  |
Charges |  | 14,927 |  |  | — |  |  | 14,927 |  |
Cash payments and settlements |  | (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 |  |
Charges |  | 79,693 |  |  | 15,643 |  |  | 95,336 |  |
Cash payments and settlements |  | (35,530 | ) |  | (4,917 | ) |  | (40,447 | ) |
Adjustments to accruals |  | (5,800 | ) |  | 100 |  |  | (5,700 | ) |
Currency translation |  | (272 | ) |  | (235 | ) |  | (507 | ) |
Accrual at March 2019 |  | $ | 81,236 |  |  | $ | 11,035 |  |  | $ | 92,271 |  |
The Company has incurred costs associated with the relocation of VF's global headquarters and certain brands to Denver, Colorado. The total amount of charges recognized for the year ended March 2019 was $47.4 million, of which $18.8 million relates to severance and employee-related benefits and is included in the tables above. The remaining $28.6 million relates to other relocation costs, the majority of which has been paid as of March 2019.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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