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DISCONTINUED OPERATIONS (Tables) | 9 Months Ended
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Jan. 01, 2022
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Discontinued Operations Presented in Financial Statements | The following table summarizes the major line items for the Occupational Workwear business that are included in the income from discontinued operations, net of tax line item in the Consolidated Statements of Operations:
|  | Three Months Ended December |  |  | Nine Months Ended December
(In thousands) |  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020
Net revenues |  | $ | — |  |  |  | $ | 176,464 |  |  |  | $ | 181,424 |  |  |  | $ | 464,107 |
Cost of goods sold |  | — |  |  |  | 115,801 |  |  |  | 117,193 |  |  |  | 330,418 |
Selling, general and administrative expenses |  | — |  |  |  | 35,576 |  |  |  | 38,735 |  |  |  | 103,743 |
Interest income, net |  | — |  |  |  | 68 |  |  |  | 194 |  |  |  | 541 |
Other income (expense), net |  | — |  |  |  | 22 |  |  |  | 6 |  |  |  | 101 |
Income from discontinued operations before income taxes |  | — |  |  |  | 25,177 |  |  |  | 25,696 |  |  |  | 30,588 |
Gain on the sale of discontinued operations before income taxes |  | — |  |  |  | — |  |  |  | 133,571 |  |  |  | — |
Total income from discontinued operations before income taxes |  | — |  |  |  | 25,177 |  |  |  | 159,267 |  |  |  | 30,588 |
Income tax expense (benefit) (a) |  | — |  |  |  | 5,596 |  |  |  | (11,006) |  |  |  | 5,402 |
Income from discontinued operations, net of tax |  | $ | — |  |  |  | $ | 19,581 |  |  |  | $ | 170,273 |  |  |  | $ | 25,186 |
(a)Income tax benefit for the nine months ended December 2021 includes $12.0 million of deferred tax benefit related to capital and other losses realized upon the sale of the Occupational Workwear business. The following table summarizes the carrying amounts of major classes of assets and liabilities of discontinued operations as of March 2021 and December 2020.
(In thousands) |  | March 2021 |  | December 2020
Cash and equivalents |  | $ | 34,132 |  |  | $ | 18,771 |
Accounts receivable, net |  | 103,835 |  |  | 91,554 |
Inventories |  | 245,227 |  |  | 242,204 |
Other current assets |  | 8,208 |  |  | 12,802 |
Property, plant and equipment, net |  | 49,394 |  |  | 48,605 |
Intangible assets, net |  | 54,471 |  |  | 54,472 |
Goodwill |  | 43,530 |  |  | 43,530 |
Operating lease right-of-use assets |  | 43,220 |  |  | 42,930 |
Other assets |  | 5,561 |  |  | 5,780 |
Total assets of discontinued operations |  | $ | 587,578 |  |  | $ | 560,648 |
Accounts payable |  | $ | 59,965 |  |  | $ | 50,434 |
Accrued liabilities |  | 38,956 |  |  | 34,470 |
Operating lease liabilities |  | 31,301 |  |  | 33,073 |
Other liabilities |  | 3,863 |  |  | 6,303 |
Deferred income tax liabilities (a) |  | (8,828) |  |  | (4,095) |
Total liabilities of discontinued operations |  | $ | 125,257 |  |  | $ | 120,185 |
(a)Deferred income tax balances reflect VF's consolidated netting by jurisdiction.

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