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v3.25.1

REPORTABLE SEGMENT INFORMATION (Tables) | 12 Months Ended
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Mar. 29, 2025
Segment Reporting [Abstract] |
Schedule of Financial Information for Reportable Segments | Financial information for VF’s reportable segments is as follows:
| Year Ended March 2025 |
(In thousands) | Outdoor |  | Active |  | Work |  | Total |
Revenues | $ | 5,576,301 |  |  | $ | 3,095,292 |  |  | $ | 833,098 |  |  | $ | 9,504,691 |  |
Less: |  |  |  |  |  |  |  |
Cost of goods sold | 2,627,678 |  |  | 1,312,186 |  |  | 479,116 |  |  |  |
SG&A expenses | 2,238,974 |  |  | 1,631,356 |  |  | 301,753 |  |  |  |
Other segment items (a) | 14,748 |  |  | 1,092 |  |  | 918 |  |  |  |
Segment profit | 724,397 |  |  | 152,842 |  |  | 53,147 |  |  | 930,386 |  |
Impairment of goodwill and indefinite-lived intangible assets |  |  |  |  |  |  | (89,242) |  |
Corporate and other expenses |  |  |  |  |  |  | (546,740) |  |
Interest expense, net (b) |  |  |  |  |  |  | (149,243) |  |
Income from continuing operations before income taxes |  |  |  |  |  |  | $ | 145,161 |  |
(a)For each reportable segment, 'Other segment items' includes insurance recoveries, certain foreign currency and hedging gains and losses and other miscellaneous non-operating income and expenses, which are reported in the other income (expense), net line item in the Consolidated Statement of Operations. (b)Interest expense and the related interest rate swap im pact for the DDTL, which totale d $31.1 million for the year ended March 2025, were allocated to discontinued operations due to the requiremen t within the DDTL's amended agreement that the DDTL be prepaid upon the receipt of the net cash proceeds from the sale of Supreme.
| Year Ended March 2024
(In thousands) | Outdoor |  | Active |  | Work |  | Total
Revenues | $ | 5,501,399 |  |  | $ | 3,522,740 |  |  | $ | 891,539 |  |  | $ | 9,915,678 |
Less: |  |  |  |  |  |  |
Cost of goods sold | 2,725,279 |  |  | 1,526,110 |  |  | 549,459 |  |  |
SG&A expenses | 2,174,041 |  |  | 1,788,074 |  |  | 324,488 |  |  |
Other segment items (a) | 629 |  |  | 28,973 |  |  | 55 |  |  |
Segment profit | 602,708 |  |  | 237,529 |  |  | 17,647 |  |  | 857,884 |
Impairment of goodwill |  |  |  |  |  |  | (507,566) |
Corporate and other expenses |  |  |  |  |  |  | (469,560) |
Interest expense, net (b) |  |  |  |  |  |  | (165,679) |
Loss from continuing operations before income taxes |  |  |  |  |  |  | $ | (284,921) |
(a)For each reportable segment, 'Other segment items' includes certain foreign currency and hedging gains and losses and other miscellaneous non-operating income and expenses. For the Active reportable segment, 'Other segment items' also includes legal settlement gains of $29.1 million. These are all reported in the other income (expense), net line item in the Consolidated Statement of Operations. (b)Interest expense and the related interest rate swap im pact for the DDTL, which totaled $59.1 million for the year ended March 2024, were allocated to discontinued operations due to the requiremen t within the DDTL's amended agreement that the DDTL be prepaid upon the receipt of the net cash proceeds from the sale of Supreme.
| Year Ended March 2023
(In thousands) | Outdoor |  | Active |  | Work |  | Total
Segment revenues | $ | 5,647,526 |  |  | $ | 4,381,506 |  |  | $ | 1,060,179 |  |  | $ | 11,089,211 |
Other revenues |  |  |  |  |  |  | 148 |
Total revenues |  |  |  |  |  |  | 11,089,359 |
Less: |  |  |  |  |  |  |
Cost of goods sold | 2,832,821 |  |  | 1,850,371 |  |  | 601,148 |  |  |
SG&A expenses | 2,024,617 |  |  | 1,954,213 |  |  | 337,596 |  |  |
Other segment items (a) | (4,657) |  |  | (1,376) |  |  | (278) |  |  |
Segment profit | 785,431 |  |  | 575,546 |  |  | 121,157 |  |  | 1,482,134 |
Other profit (loss) |  |  |  |  |  |  | (536) |
Corporate and other expenses |  |  |  |  |  |  | (600,148) |
Interest expense, net (b) |  |  |  |  |  |  | (143,660) |
Income from continuing operations before income taxes |  |  |  |  |  |  | $ | 737,790 |
(a)For each reportable segment, 'Other segment items' includes certain foreign currency and hedging gains and losses and other miscellaneous non-operating income and expenses which are reported in the other income (expense), net line item in the Consolidated Statement of Operations. (b)Interest expense and the related interest rate swap im pact for the DDTL, which totaled $21.9 million for the year ended March 2023, were allocated to discontinued operations due to the requiremen t within the DDTL's amended agreement that the DDTL be prepaid upon the receipt of the net cash proceeds from the sale of Supreme.
Schedule of Reconciliation of Assets from Segment to Consolidated |
(In thousands) |  | March 2025 |  |  | March 2024 |  | March 2023
Segment assets: |  |  |  |  |  |  |
Outdoor |  | $ | 1,592,896 |  |  |  | $ | 1,544,364 |  |  | $ | 1,936,090 |
Active |  | 934,768 |  |  |  | 955,535 |  |  | 1,271,590 |
Work |  | 392,595 |  |  |  | 452,384 |  |  | 610,798 |
Other |  | 28,429 |  |  |  | 8,869 |  |  | 15,055 |
Total segment assets |  | 2,948,688 |  |  |  | 2,961,152 |  |  | 3,833,533 |
Cash and cash equivalents |  | 429,382 |  |  |  | 656,376 |  |  | 799,441 |
Property, plant and equipment, net |  | 720,879 |  |  |  | 788,992 |  |  | 910,938 |
Goodwill and intangible assets, net |  | 2,314,093 |  |  |  | 2,421,838 |  |  | 2,946,391 |
Operating lease right-of-use assets |  | 1,262,319 |  |  |  | 1,255,074 |  |  | 1,306,199 |
Other assets |  | 1,702,175 |  |  |  | 1,703,664 |  |  | 2,288,643 |
Assets of discontinued operations |  | — |  |  |  | 1,825,867 |  |  | 1,905,343 |
Consolidated assets |  | $ | 9,377,536 |  |  |  | $ | 11,612,963 |  |  | $ | 13,990,488 |
Schedule of Reconciliation of Capital Expenditures and Depreciation and Amortization Expense |
|  | Year Ended March
(In thousands) |  | 2025 |  |  | 2024 |  | 2023
Depreciation, amortization and other asset write-downs: |  |  |  |  |  |  |
Outdoor |  | $ | 106,732 |  |  |  | $ | 103,586 |  |  | $ | 94,448 |
Active |  | 62,074 |  |  |  | 81,911 |  |  | 70,708 |
Work |  | 14,736 |  |  |  | 13,620 |  |  | 12,524 |
Other |  | 76,074 |  |  |  | 108,411 |  |  | 74,246 |
|  | $ | 259,616 |  |  |  | $ | 307,528 |  |  | $ | 251,926 |
Schedule of Supplemental Information (with Revenues by Geographic Area Based on the Origin of Shipment) | Supplemental information (with revenues by geographic area primarily based on the origin of the shipment) is as follows:
|  | Year Ended March
(In thousands) |  | 2025 |  |  | 2024 |  | 2023
Total revenues: |  |  |  |  |  |  |
U.S. |  | $ | 4,257,971 |  |  |  | $ | 4,550,988 |  |  | $ | 5,733,168 |
Foreign |  | 5,246,720 |  |  |  | 5,364,690 |  |  | 5,356,191 |
|  | $ | 9,504,691 |  |  |  | $ | 9,915,678 |  |  | $ | 11,089,359 |
Property, plant and equipment: |  |  |  |  |  |  |
U.S. |  | $ | 513,627 |  |  |  | $ | 574,637 |  |  |
Foreign |  | 207,252 |  |  |  | 214,355 |  |  |
|  | $ | 720,879 |  |  |  | $ | 788,992 |  |  |

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