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CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS | 12 Months Ended
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Mar. 29, 2025
Equity [Abstract] |
CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS | CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS Common Stock During the years ended March 2025, 2024 and 2023, the Company did not purchase shares of Common Stock in open market transactions under its share repurchase program authorized by VF’s Board of Directors. These are treated as treasury stock transactions when shares are repurchased. Common Stock outstanding is net of shares held in treasury which are, in substance, retired. There were no shares held in treasury at the end of March 2025, 2024 or 2023. The excess of the cost of treasury shares acquired over the $0.25 per share stated value of Common Stock is deducted from retained earnings (accumulated deficit). Accumulated Other Comprehensive Loss Comprehensive income (loss) consists of net income (loss) and specified components of other comprehensive income (loss), which relate to changes in assets and liabilities that are not included in net income (loss) under GAAP but are instead deferred and accumulated within a separate component of stockholders’ equity in the balance sheet. VF’s comprehensive income (loss) is presented in the Consolidated Statements of Comprehensive Income (Loss). The deferred components of other comprehensive income (loss) are reported, net of related income taxes, in accumulated OCL in stockholders’ equity, as follows:
(In thousands) |  | March 2025 |  |  | March 2024
Foreign currency translation and other |  | $ | (821,189) |  |  |  | $ | (868,439) |
Defined benefit pension plans |  | (180,047) |  |  |  | (182,333) |
Derivative financial instruments |  | 23,496 |  |  |  | (13,559) |
Accumulated other comprehensive loss |  | $ | (977,740) |  |  |  | $ | (1,064,331) |
The changes in accumulated OCL, net of related taxes, were as follows:
(In thousands) | Foreign Currency Translation and Other |  | Defined Benefit Pension Plans |  | Derivative Financial Instruments |  |  |  | Total |
Balance, March 2022 | $ | (751,632) |  |  | $ | (230,290) |  |  | $ | 55,343 |  |  |  |  | $ | (926,579) |  |
Other comprehensive income (loss) before reclassifications | (108,019) |  |  | (18,596) |  |  | 44,979 |  |  |  |  | (81,636) |  |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 81,194 |  |  | (92,497) |  |  |  |  | (11,303) |  |
Net other comprehensive income (loss) | (108,019) |  |  | 62,598 |  |  | (47,518) |  |  |  |  | (92,939) |  |
Balance, March 2023 | (859,651) |  |  | (167,692) |  |  | 7,825 |  |  |  |  | (1,019,518) |  |
Other comprehensive income (loss) before reclassifications | (8,788) |  |  | (28,939) |  |  | (6,443) |  |  |  |  | (44,170) |  |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 14,298 |  |  | (14,941) |  |  |  |  | (643) |  |
Net other comprehensive income (loss) | (8,788) |  |  | (14,641) |  |  | (21,384) |  |  |  |  | (44,813) |  |
Balance, March 2024 | (868,439) |  |  | (182,333) |  |  | (13,559) |  |  |  |  | (1,064,331) |  |
Other comprehensive income (loss) before reclassifications | (28,043) |  |  | (11,630) |  |  | 10,028 |  |  |  |  | (29,645) |  |
Amounts reclassified from accumulated other comprehensive loss | 75,293 |  |  | 13,916 |  |  | 27,027 |  |  |  |  | 116,236 |  |
Net other comprehensive income (loss) | 47,250 |  |  | 2,286 |  |  | 37,055 |  |  |  |  | 86,591 |  |
Balance, March 2025 | $ | (821,189) |  |  | $ | (180,047) |  |  | $ | 23,496 |  |  |  |  | $ | (977,740) |  |
Reclassifications out of accumulated OCL were as follows:
(In thousands) | Affected Line Item in the Consolidated Statements of Operations |  |  | Year Ended March |  |  |  |  |  |
Details About Accumulated Other Comprehensive Loss Components |  |  |  |  |  |  |  |
|  | 2025 |  |  | 2024 |  | 2023 |  |  |  |  |  |
Losses on foreign currency translation and other: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Sale of Supreme | Income (loss) from discontinued operations, net of tax (a) |  |  | $ | (75,293) |  |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  |
Total before tax |  |  |  | (75,293) |  |  |  | — |  |  | — |  |  |  |  |  |  |
Income tax effect |  |  |  | — |  |  |  | — |  |  | — |  |  |  |  |  |  |
Net of tax |  |  |  | (75,293) |  |  |  | — |  |  | — |  |  |  |  |  |  |
Amortization of defined benefit pension plans: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net deferred actuarial losses | Other income (expense), net |  |  | (20,205) |  |  |  | (16,656) |  |  | (16,395) |  |  |  |  |  |  |
Deferred prior service credits | Other income (expense), net |  |  | 589 |  |  |  | 541 |  |  | 453 |  |  |  |  |  |  |
Pension curtailment gains and settlement charges | Other income (expense), net |  |  | 936 |  |  |  | (3,538) |  |  | (93,731) |  |  |  |  |  |  |
Total before tax |  |  |  | (18,680) |  |  |  | (19,653) |  |  | (109,673) |  |  |  |  |  |  |
Income tax effect |  |  |  | 4,764 |  |  |  | 5,355 |  |  | 28,479 |  |  |  |  |  |  |
Net of tax |  |  |  | (13,916) |  |  |  | (14,298) |  |  | (81,194) |  |  |  |  |  |  |
Gains (losses) on derivative financial instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts | Revenues |  |  | (29,941) |  |  |  | (5,004) |  |  | (6,843) |  |  |  |  |  |  |
Foreign exchange contracts | Cost of goods sold |  |  | (3,192) |  |  |  | 15,703 |  |  | 120,438 |  |  |  |  |  |  |
Foreign exchange contracts | SG&A expenses |  |  | (518) |  |  |  | 3,437 |  |  | 6,695 |  |  |  |  |  |  |
Foreign exchange contracts | Other income (expense), net |  |  | (1,688) |  |  |  | (253) |  |  | (10,365) |  |  |  |  |  |  |
Interest rate contracts | Interest expense |  |  | 445 |  |  |  | 108 |  |  | 108 |  |  |  |  |  |  |
Interest rate contracts | Income (loss) from discontinued operations, net of tax |  |  | 2,299 |  |  |  | 4,130 |  |  | 127 |  |  |  |  |  |  |
Total before tax |  |  |  | (32,595) |  |  |  | 18,121 |  |  | 110,160 |  |  |  |  |  |  |
Income tax effect |  |  |  | 5,568 |  |  |  | (3,180) |  |  | (17,663) |  |  |  |  |  |  |
Net of tax |  |  |  | (27,027) |  |  |  | 14,941 |  |  | 92,497 |  |  |  |  |  |  |
Total reclassifications for the period, net of tax |  |  | $ | (116,236) |  |  |  | $ | 643 |  |  | $ | 11,303 |  |  |  |  |  |  |
(a)Foreign currency translation losses related to Supreme were included in the carrying value of the disposal group used in determining the estimated loss on sale recorded during the second quarter of Fiscal 2025. Upon completion of the sale of Supreme on October 1, 2024, these amounts were reclassified out of accumulated OCL into the income (loss) from discontinued operations, net of tax line item in the Consolidated Statements of Operations for the year ended March 2025 and offset against the derecognition of the previously recorded allowance on the disposal group.

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