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LEASES | 6 Months Ended
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Sep. 28, 2024
Leases [Abstract] |
LEASES | LEASES The Company leases certain retail locations, office space, distribution facilities, machinery and equipment, and vehicles. The substantial majority of these leases are operating leases. Total lease cost includes operating lease cost, variable lease cost, finance lease cost, short-term lease cost and gains recognized from sale leaseback transactions. The components of lease cost were as follows:
|  | Three Months Ended September |  |  | Six Months Ended September
(In thousands) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023
Operating lease cost |  | $ | 103,942 |  |  |  | $ | 102,157 |  |  |  | $ | 204,553 |  |  |  | $ | 204,446 |
Other lease cost |  | 30,863 |  |  |  | 36,962 |  |  |  | 53,110 |  |  |  | 72,274 |
Total lease cost |  | $ | 134,805 |  |  |  | $ | 139,119 |  |  |  | $ | 257,663 |  |  |  | $ | 276,720 |
During the six months ended September 2024, the Company entered int o a sale leaseback transaction for certain warehouse real estate and related assets. The transaction qualified as a sale, and thus the Company reco gnized a ga in of $15.5 million in the selling, general and administrative expenses line item in VF's Consolidated Statement of Operations for the six months ended September 2024. During the six months ended September 2024 and 2023, the Company pai d $211.8 million and $209.3 million for operating leases, respectively. During the six months ended September 2024 and 2023, the Company obtained $227.9 million and $139.1 million of right-of-use assets in exchange for lease liabili ties, respectively.
LEASES | LEASES The Company leases certain retail locations, office space, distribution facilities, machinery and equipment, and vehicles. The substantial majority of these leases are operating leases. Total lease cost includes operating lease cost, variable lease cost, finance lease cost, short-term lease cost and gains recognized from sale leaseback transactions. The components of lease cost were as follows:
|  | Three Months Ended September |  |  | Six Months Ended September
(In thousands) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023
Operating lease cost |  | $ | 103,942 |  |  |  | $ | 102,157 |  |  |  | $ | 204,553 |  |  |  | $ | 204,446 |
Other lease cost |  | 30,863 |  |  |  | 36,962 |  |  |  | 53,110 |  |  |  | 72,274 |
Total lease cost |  | $ | 134,805 |  |  |  | $ | 139,119 |  |  |  | $ | 257,663 |  |  |  | $ | 276,720 |
During the six months ended September 2024, the Company entered int o a sale leaseback transaction for certain warehouse real estate and related assets. The transaction qualified as a sale, and thus the Company reco gnized a ga in of $15.5 million in the selling, general and administrative expenses line item in VF's Consolidated Statement of Operations for the six months ended September 2024. During the six months ended September 2024 and 2023, the Company pai d $211.8 million and $209.3 million for operating leases, respectively. During the six months ended September 2024 and 2023, the Company obtained $227.9 million and $139.1 million of right-of-use assets in exchange for lease liabili ties, respectively.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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