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ACQUISITION (Tables) | 12 Months Ended
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Apr. 02, 2022
Business Combination and Asset Acquisition [Abstract] |
Schedule of Assets Acquired and Liabilities Assumed | The following table summarizes the 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 | 40,912 |
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 | 1,657,712 |
Accounts payable | 25,717 |
Other current liabilities | 81,816 |
Operating lease liabilities | 53,062 |
Deferred income tax liabilities | 280,971 |
Other liabilities | 35,245 |
Total liabilities assumed | 476,811 |
Net assets acquired | 1,180,901 |
Goodwill | 1,249,594 |
Purchase price | $ | 2,430,495 |
Preliminary Purchase Price | The purchase price consisted of the following components:
(In thousands) | December 28, 2020
Cash consideration | $ | 2,223,495 |
Contingent consideration | 207,000 |
Purchase price | $ | 2,430,495 |
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:
| Year Ended March (unaudited) |  |
(In thousands, except per share amounts) | 2021 |  | 2020 |  |
Total revenues | $ | 9,677,141 |  |  | $ | 10,986,770 |  |  |
Income from continuing operations | 457,330 |  |  | 690,450 |  |  |
Earnings per common share from continuing operations |  |  |  |  |
Basic | $ | 1.17 |  |  | $ | 1.75 |  |  |
Diluted | 1.17 |  |  | 1.73 |  |  |

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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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