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RESTRUCTURING | 12 Months Ended
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Mar. 28, 2020
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 $31.8 million of restructuring charges recognized in the year ended March 2020, $12.4 million were reflected in selling, general and administrative expenses and $19.4 million in cost of goods sold. Of the $63.1 million of restructuring charges recognized in the year ended March 2019, $48.5 million were reflected in selling, general and administrative expenses and $14.6 million in cost of goods sold. Of the $11.5 million of restructuring charges recognized in the three months ended March 2018, $7.4 million were reflected in selling, general and administrative expenses and $4.1 million in cost of goods sold. Of the $16.2 million of restructuring charges recognized in the year ended December 2017, $11.6 million were reflected in selling, general and administrative expenses and $4.6 million in cost of goods sold. The Company did not recognize significant incremental costs related to the actions for the year ended March 2019 and has completed most of the related restructuring activities as of March 2020. Of the total restructuring accrual at March 2020, $40.5 million is expected to be paid out within the next 12 months and is classified within accrued liabilities. The remaining $0.4 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 2020 Charges |  |  | Year Ended March 2019 Charges |  | Three Months Ended March 2018 Charges |  | Year Ended December 2017 Charges
Severance and employee-related benefits |  | $ | 21,899 |  |  |  | $ | 46,724 |  |  | $ | 11,472 |  |  | $ | 11,723 |
Asset impairments |  | 5,211 |  |  |  | 4,109 |  |  | — |  |  | — |
Inventory write-downs |  | 1,119 |  |  |  | 2,171 |  |  | — |  |  | — |
Contract termination and other |  | 3,618 |  |  |  | 10,092 |  |  | — |  |  | 4,436 |
Total restructuring charges |  | $ | 31,847 |  |  |  | $ | 63,096 |  |  | $ | 11,472 |  |  | $ | 16,159 |
Restructuring costs by business segment are as follows:
(In thousands) |  | Year Ended March 2020 Charges |  |  | Year Ended March 2019 Charges |  | Three Months Ended March 2018 Charges |  | Year Ended December 2017 Charges
Outdoor |  | $ | 7,094 |  |  |  | $ | 38,952 |  |  | $ | 4,550 |  |  | $ | 10,393 |
Active |  | 3,210 |  |  |  | 13,579 |  |  | — |  |  | 2,400 |
Work |  | 2,193 |  |  |  | 5,587 |  |  | 6,922 |  |  | — |
Corporate |  | 19,350 |  |  |  | 4,978 |  |  | — |  |  | 3,366 |
Total |  | $ | 31,847 |  |  |  | $ | 63,096 |  |  | $ | 11,472 |  |  | $ | 16,159 |
The activity in the restructuring accrual is as follows:
(In thousands) |  | Severance |  | Other |  | Total |
Accrual at March 2018 |  | $ | 27,407 |  |  | $ | 444 |  |  | $ | 27,851 |  |
Charges |  | 46,724 |  |  | 10,092 |  |  | 56,816 |  |
Retained discontinued operations accruals |  | 13,808 |  |  | 4,849 |  |  | 18,657 |  |
Cash payments and settlements |  | (26,054 | ) |  | (4,248 | ) |  | (30,302 | ) |
Adjustments to accruals |  | (5,396 | ) |  | 100 |  |  | (5,296 | ) |
Impact of foreign currency |  | (271 | ) |  | (235 | ) |  | (506 | ) |
Accrual at March 2019 |  | 56,218 |  |  | 11,002 |  |  | 67,220 |  |
Charges |  | 21,899 |  |  | 3,618 |  |  | 25,517 |  |
Cash payments and settlements |  | (39,728 | ) |  | (11,997 | ) |  | (51,725 | ) |
Adjustments to accruals |  | 2,181 |  |  | 1,159 |  |  | 3,340 |  |
Impact of foreign currency |  | (2,518 | ) |  | (894 | ) |  | (3,412 | ) |
Accrual at March 2020 |  | $ | 38,052 |  |  | $ | 2,888 |  |  | $ | 40,940 |  |
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 years ended March 2020 and 2019 were $41.5 million and $47.4 million, respectively, of which $18.8 million for the year ended March 2019 relates to severance and employee-related benefits and is included in the tables above. The remaining amounts for the years ended March 2020 and 2019 relate to other relocation costs, the majority of which have been paid.

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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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