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v3.22.1

REPORTABLE SEGMENT INFORMATION (Tables) | 12 Months Ended
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Apr. 02, 2022
Segment Reporting [Abstract] |
Financial Information for Reportable Segments | Financial information for VF’s reportable segments is as follows:
|  | Year Ended March
(In thousands) |  | 2022 |  |  | 2021 |  | 2020
Segment revenues: |  |  |  |  |  |  |
Outdoor |  | $ | 5,327,568 |  |  |  | $ | 4,127,601 |  |  | $ | 4,643,956 |
Active |  | 5,380,338 |  |  |  | 4,160,856 |  |  | 4,919,427 |
Work |  | 1,133,149 |  |  |  | 945,680 |  |  | 886,419 |
Other |  | 785 |  |  |  | 4,693 |  |  | 38,754 |
Total segment revenues |  | $ | 11,841,840 |  |  |  | $ | 9,238,830 |  |  | $ | 10,488,556 |
Segment profit (loss): |  |  |  |  |  |  |
Outdoor |  | $ | 795,523 |  |  |  | $ | 342,212 |  |  | $ | 516,089 |
Active |  | 979,746 |  |  |  | 648,467 |  |  | 1,136,821 |
Work |  | 193,492 |  |  |  | 27,141 |  |  | 50,383 |
Other |  | (586) |  |  |  | (5,410) |  |  | (6,485) |
Total segment profit |  | 1,968,175 |  |  |  | 1,012,410 |  |  | 1,696,808 |
Impairment of goodwill and indefinite-lived intangible assets (a) |  | — |  |  |  | (12,400) |  |  | (323,223) |
Corporate and other expenses (b) |  | (309,817) |  |  |  | (417,038) |  |  | (514,430) |
Interest expense, net |  | (131,463) |  |  |  | (126,500) |  |  | (72,175) |
Loss on debt extinguishment |  | (3,645) |  |  |  | — |  |  | (59,772) |
Income from continuing operations before income taxes |  | $ | 1,523,250 |  |  |  | $ | 456,472 |  |  | $ | 727,208 |
(a)Excludes $8.0 million of impairment charges related to definite-lived intangible assets in the year ended March 2021, which are primarily recorded in the Work segment. (b)Certain corporate overhead and other costs of $25.2 million during the year ended March 2020, previously allocated to the Work segment for segment reporting purposes, have been reallocated to continuing operations as discussed in Note 4.
Reconciliation Assets |
(In thousands) |  | March 2022 |  |  | March 2021
Segment assets: |  |  |  |  |
Outdoor |  | $ | 1,307,244 |  |  |  | $ | 1,019,244 |
Active |  | 1,110,691 |  |  |  | 1,025,327 |
Work |  | 436,765 |  |  |  | 300,927 |
Other |  | 31,815 |  |  |  | 14,361 |
Total segment assets |  | 2,886,515 |  |  |  | 2,359,859 |
Cash and equivalents |  | 1,275,943 |  |  |  | 815,750 |
Short-term investments |  | — |  |  |  | 598,806 |
Property, plant and equipment, net |  | 1,041,777 |  |  |  | 975,876 |
Intangible assets and goodwill |  | 5,394,158 |  |  |  | 5,454,972 |
Operating lease right-of-use assets |  | 1,247,056 |  |  |  | 1,474,434 |
Other assets |  | 1,496,759 |  |  |  | 1,486,754 |
Assets of discontinued operations |  | — |  |  |  | 587,578 |
Consolidated assets |  | $ | 13,342,208 |  |  |  | $ | 13,754,029 |
Reconciliation of Capital Expenditures and Depreciation and Amortization Expense |
(In thousands) |  | March 2022 |  |  | March 2021
Segment assets: |  |  |  |  |
Outdoor |  | $ | 1,307,244 |  |  |  | $ | 1,019,244 |
Active |  | 1,110,691 |  |  |  | 1,025,327 |
Work |  | 436,765 |  |  |  | 300,927 |
Other |  | 31,815 |  |  |  | 14,361 |
Total segment assets |  | 2,886,515 |  |  |  | 2,359,859 |
Cash and equivalents |  | 1,275,943 |  |  |  | 815,750 |
Short-term investments |  | — |  |  |  | 598,806 |
Property, plant and equipment, net |  | 1,041,777 |  |  |  | 975,876 |
Intangible assets and goodwill |  | 5,394,158 |  |  |  | 5,454,972 |
Operating lease right-of-use assets |  | 1,247,056 |  |  |  | 1,474,434 |
Other assets |  | 1,496,759 |  |  |  | 1,486,754 |
Assets of discontinued operations |  | — |  |  |  | 587,578 |
Consolidated assets |  | $ | 13,342,208 |  |  |  | $ | 13,754,029 |
|  | Year Ended March
(In thousands) |  | 2022 |  |  | 2021 |  | 2020
Depreciation and amortization expense: |  |  |  |  |  |  |
Outdoor |  | $ | 95,860 |  |  |  | $ | 94,841 |  |  | $ | 91,657 |
Active |  | 87,235 |  |  |  | 80,245 |  |  | 80,562 |
Work |  | 14,439 |  |  |  | 20,785 |  |  | 14,856 |
Other |  | 69,401 |  |  |  | 73,210 |  |  | 80,544 |
|  | $ | 266,935 |  |  |  | $ | 269,081 |  |  | $ | 267,619 |
Supplemental Information (with Revenues by Geographic Area Based on the Origin of Shipment) | Supplemental information (with revenues by geographic area primarily based on the origin of the shipment) is as follows:
|  | Year Ended March
(In thousands) |  | 2022 |  |  | 2021 |  | 2020
Total revenues: |  |  |  |  |  |  |
U.S. |  | $ | 6,178,300 |  |  |  | $ | 4,635,704 |  |  | $ | 5,520,317 |
Foreign |  | 5,663,540 |  |  |  | 4,603,126 |  |  | 4,968,239 |
|  | $ | 11,841,840 |  |  |  | $ | 9,238,830 |  |  | $ | 10,488,556 |
Property, plant and equipment: |  |  |  |  |  |  |
U.S. |  | $ | 716,952 |  |  |  | $ | 621,777 |  |  |
Foreign |  | 324,825 |  |  |  | 354,099 |  |  |
|  | $ | 1,041,777 |  |  |  | $ | 975,876 |  |  |

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