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DISCONTINUED OPERATIONS (Tables) | 12 Months Ended
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Apr. 02, 2022
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Discontinued Operations Presented in Financial Statements | The following table summarizes the major line items included for the Occupational Workwear business and the Jeans business that are included in the income from discontinued operations, net of tax line item in the Consolidated Statements of Operations:
|  | Year Ended March
(In thousands) |  | 2022 |  |  | 2021 |  | 2020
Net revenues |  | $ | 181,424 |  |  |  | $ | 671,574 |  |  | $ | 1,199,524 |
Cost of goods sold |  | 117,193 |  |  |  | 471,652 |  |  | 773,418 |
Selling, general and administrative expenses |  | 38,735 |  |  |  | 143,259 |  |  | 320,462 |
Impairment of goodwill and intangible assets |  | — |  |  |  | — |  |  | 11,100 |
Interest income, net |  | 194 |  |  |  | 312 |  |  | 1,601 |
Other income (expense), net |  | 6 |  |  |  | 365 |  |  | (687) |
Income from discontinued operations before income taxes |  | 25,696 |  |  |  | 57,340 |  |  | 95,458 |
Gain on the sale of discontinued operations before income taxes |  | 133,970 |  |  |  | — |  |  | — |
Total income from discontinued operations before income taxes |  | 159,666 |  |  |  | 57,340 |  |  | 95,458 |
Income tax expense (benefit) (a) |  | (11,006) |  |  |  | 4,377 |  |  | 45,155 |
Income from discontinued operations, net of tax |  | $ | 170,672 |  |  |  | $ | 52,963 |  |  | $ | 50,303 |
(a)Income tax benefit for the year ended March 2022 includes $12.0 million of deferred tax benefit related to capital and other losses realized upon the sale of the Occupational Workwear business. Income tax expense for the year ended March 2020 includes additional tax expense on nondeductible transaction costs and uncertain tax positions related to the Jeans business. The following table summarizes the carrying amounts of major classes of assets and liabilities of discontinued operations as of March 2021.
(In thousands) | March 2021
Cash and equivalents | $ | 34,132 |
Accounts receivable, net | 103,835 |
Inventories | 245,227 |
Other current assets | 8,208 |
Property, plant and equipment, net | 49,394 |
Intangible assets, net | 54,471 |
Goodwill | 43,530 |
Operating lease right-of-use assets | 43,220 |
Other assets | 5,561 |
Total assets of discontinued operations | $ | 587,578 |
Accounts payable | $ | 59,965 |
Accrued liabilities | 38,956 |
Operating lease liabilities | 31,301 |
Other liabilities | 3,863 |
Deferred income tax liabilities (a) | (8,828) |
Total liabilities of discontinued operations | $ | 125,257 |
(a)Deferred income tax balances reflect VF's consolidated netting by jurisdiction.

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