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DISCONTINUED OPERATIONS AND OTHER DIVESTITURES (Tables) | 9 Months Ended
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Dec. 29, 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 income (loss) from discontinued operations, net of tax line item in the Consolidated Statements of Income:
|  | Three Months Ended December |  |  | Nine Months Ended December
(In thousands) |  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017
Net revenues |  | $ | — |  |  |  | $ | 139,878 |  |  |  | $ | 21,913 |  |  |  | $ | 385,716 |
Cost of goods sold |  | — |  |  |  | 77,888 |  |  |  | 14,706 |  |  |  | 218,081 |
Selling, general and administrative expenses |  | — |  |  |  | 44,356 |  |  |  | 12,391 |  |  |  | 129,825 |
Impairment of goodwill |  | — |  |  |  | — |  |  |  | — |  |  |  | 104,651 |
Interest expense, net |  | — |  |  |  | (1 | ) |  |  | — |  |  |  | (9 | )
Other income (expense), net |  | — |  |  |  | (3 | ) |  |  | 272 |  |  |  | 5 |
Income (loss) from discontinued operations before income taxes |  | — |  |  |  | 17,630 |  |  |  | (4,912 | ) |  |  | (66,845 | )
Gain (loss) on the sale of discontinued operations before income taxes |  | 383 |  |  |  | (24,513 | ) |  |  | 4,589 |  |  |  | (30,488 | )
Total income (loss) from discontinued operations before income taxes |  | 383 |  |  |  | (6,883 | ) |  |  | (323 | ) |  |  | (97,333 | )
Income tax (expense) benefit |  | — |  |  |  | (10,407 | ) |  |  | 1,111 |  |  |  | (4,840 | )
Income (loss) from discontinued operations, net of tax |  | $ | 383 |  |  |  | $ | (17,290 | ) |  |  | $ | 788 |  |  |  | $ | (102,173 | )
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) |  | December 2018 |  |  | March 2018 |  | December 2017
Cash |  | $ | — |  |  |  | $ | 2,330 |  |  | $ | 2,592 |
Accounts receivable, net |  | — |  |  |  | 26,298 |  |  | 27,941 |
Inventories |  | — |  |  |  | 55,610 |  |  | 43,297 |
Other current assets |  | — |  |  |  | 1,247 |  |  | 2,497 |
Property, plant and equipment, net |  | — |  |  |  | 15,021 |  |  | 14,914 |
Intangible assets |  | — |  |  |  | 262,202 |  |  | 262,352 |
Goodwill |  | — |  |  |  | 49,005 |  |  | 49,005 |
Other assets |  | — |  |  |  | 3,961 |  |  | 3,631 |
Allowance to reduce assets to estimated fair value, less costs to sell |  | — |  |  |  | (42,094 | ) |  | (25,529 | )
Total assets of discontinued operations |  | $ | — |  |  |  | $ | 373,580 |  |  | $ | 380,700 |
Accounts payable |  | $ | — |  |  |  | $ | 11,619 |  |  | $ | 16,993 |
Accrued liabilities |  | — |  |  |  | 10,658 |  |  | 18,203 |
Other liabilities |  | — |  |  |  | 11,912 |  |  | 12,011 |
Deferred income tax liabilities (a) |  | — |  |  |  | 51,838 |  |  | 53,812 |
Total liabilities of discontinued operations |  | $ | — |  |  |  | $ | 86,027 |  |  | $ | 101,019 |
(a) | Deferred income tax balances reflect VF’s consolidated netting by jurisdiction.

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