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ACQUISITION (Tables) | 3 Months Ended
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Jul. 03, 2021
Business Combination and Asset Acquisition [Abstract] |
Schedule of Assets Acquired and Liabilities Assumed | The following table summarizes the preliminary estimated fair values of the Supreme assets acquired and liabilities assumed at the date of acquisition:
(In thousands) |  | December 28, 2020
Cash and equivalents |  | $ | 218,104 |
Accounts receivable |  | 19,698 |
Inventories |  | 44,937 |
Other current assets |  | 35,091 |
Property, plant and equipment |  | 18,914 |
Intangible asset |  | 1,201,000 |
Operating lease right-of-use assets |  | 55,668 |
Other assets |  | 58,479 |
Total assets acquired |  | 1,651,891 |
Accounts payable |  | 25,717 |
Other current liabilities |  | 78,205 |
Operating lease liabilities |  | 53,062 |
Deferred income tax liabilities |  | 275,718 |
Other liabilities |  | 35,245 |
Total liabilities assumed |  | 467,947 |
Net assets acquired |  | 1,183,944 |
Goodwill |  | 1,250,311 |
Purchase price |  | $ | 2,434,255 |
Preliminary Purchase Price | The preliminary purchase price consisted of the following components:
(In thousands) |  | December 28, 2020
Cash consideration |  | $ | 2,227,255 |
Contingent consideration |  | 207,000 |
Purchase price |  | $ | 2,434,255 |
Unaudited Pro Forma Summary | The following unaudited pro forma summary presents consolidated information of VF as if the acquisition of Supreme had occurred on March 31, 2019:
(In thousands, except per share amounts) |  | Three Months Ended June 2020 (unaudited)
Total revenues |  | $ | 1,190,285 |
Income (loss) from continuing operations |  | (264,463) |
Earnings (loss) per common share from continuing operations |  |
Basic |  | $ | (0.68) |
Diluted |  | (0.68) |

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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123413009&loc=d3e4845-128472 + Details
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