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PENSION PLANS (Tables) | 9 Months Ended
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Dec. 28, 2019
Retirement Benefits [Abstract] |
Components of Pension Cost | The components of pension cost (income) for VF’s defined benefit plans were as follows:
|  | Three Months Ended December |  |  | Nine Months Ended December
(In thousands) |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018
Service cost – benefits earned during the period |  | $ | 3,401 |  |  |  | $ | 6,097 |  |  |  | $ | 10,192 |  |  |  | $ | 17,882 |
Interest cost on projected benefit obligations |  | 14,581 |  |  |  | 15,807 |  |  |  | 44,085 |  |  |  | 47,638 |
Expected return on plan assets |  | (23,176 | ) |  |  | (23,185 | ) |  |  | (69,505 | ) |  |  | (70,216 | )
Settlement charges |  | 24,943 |  |  |  | 662 |  |  |  | 25,462 |  |  |  | 8,846 |
Curtailments |  | — |  |  |  | — |  |  |  | — |  |  |  | 9,483 |
Amortization of deferred amounts: |  |  |  |  |  |  |  |  |  |  |
Net deferred actuarial losses |  | 4,203 |  |  |  | 6,676 |  |  |  | 12,236 |  |  |  | 22,153 |
Deferred prior service costs (credits) |  | 13 |  |  |  | (58 | ) |  |  | 38 |  |  |  | 552 |
Net periodic pension cost (income) |  | $ | 23,965 |  |  |  | $ | 5,999 |  |  |  | $ | 22,508 |  |  |  | $ | 36,338 |
The amounts reported in these disclosures for prior periods have not been segregated between continuing and discontinued operations.
Actuarial Assumptions Used in Valuation | Actuarial assumptions used in the interim valuations were reviewed and revised as appropriate. The discount rates used to determine the pension obligations were as follows:
|  | December 31, 2019 |  |  | September 30, 2019
U.S. qualified defined benefit pension plan |  | 3.34 | % |  |  | N/A |
Supplemental defined benefit pension plan |  | 3.35 | % |  |  | 3.23 | %

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- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
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- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920 + Details
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