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INTANGIBLE ASSETS | 3 Months Ended
--- | ---
Jun. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
INTANGIBLE ASSETS | INTANGIBLE ASSETS
|  |  |  |  |  |  | June 2024 |  |  | March 2024
(In thousands) |  | Weighted Average Amortization Period |  | Amortization Method |  |  | Cost |  | Accumulated Amortization |  | Net Carrying Amount |  |  | Net Carrying Amount
Amortizable intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships and other |  | 19 years |  | Accelerated |  |  | $ | 261,408 |  |  | $ | 189,927 |  |  | $ | 71,481 |  |  |  | $ | 74,963 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trademarks and trade names |  |  |  |  |  |  |  |  |  |  | 2,500,284 |  |  |  | 2,553,519 |
Intangible assets, net |  |  |  |  |  |  |  |  |  |  | $ | 2,571,765 |  |  |  | $ | 2,628,482 |
During the three months ended June 2024, VF determined that a triggering event had occurred requiring impairment testing of the Supreme® indefinite-lived trademark intangible asset. VF's assessment gave consideration to the ongoing negotiations to sell the Supreme® brand. As a result of the impairment testing performed, VF recorded an impairment charge of $51.0 million to the Supreme® indefinite-lived trademark intangible asset related to an increase in the market-based discount rate applied. Refer to Note 15 for additional information on fair value measurements. Amortization expense for the three months ended June 2024 was $3.3 million. B ased on the carrying amounts of amortizable intangible assets noted above, estimated amortization expense for the next five years beginning in Fiscal 2025 is $13.2 million, $12.2 million, $11.7 million, $10.8 million and $9.8 million, respectively.

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