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CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS | 6 Months Ended
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Sep. 27, 2025
Equity [Abstract] |
CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS | CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS Common Stock During the six months ended September 2025, the Comp any did not purcha se 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 September 2025, March 2025 or September 2024. The excess of the cost of t reasury 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) c onsists of net income (loss) an d specified com ponents of other comprehensive income (loss), w hich relate to changes in assets and liabilities that are not included in ne t income (loss) u nder 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 Comprehensi ve Income (Loss). T he deferred components o f other comprehensive income (loss) are reported, net of related income taxes, in accumulated other comprehensive loss ("OCL") in sto ckholders’ equity, as follows:
(In thousands) |  | September 2025 |  |  | March 2025 |  | September 2024
Foreign currency translation and other |  | $ | (770,855) |  |  |  | $ | (821,189) |  |  | $ | (869,994) |
Defined benefit pension plans |  | (174,008) |  |  |  | (180,047) |  |  | (175,087) |
Derivative financial instruments |  | (79,178) |  |  |  | 23,496 |  |  | (25,499) |
Accumulated other comprehensive loss |  | $ | (1,024,041) |  |  |  | $ | (977,740) |  |  | $ | (1,070,580) |
The changes in accumulated OCL, net of rela ted taxes, were as follows:
| Three Months Ended September 2025 |
(In thousands) | Foreign Currency Translation and Other |  | Defined Benefit Pension Plans |  | Derivative Financial Instruments |  | Total |
Balance, June 2025 | $ | (763,627) |  |  | $ | (176,910) |  |  | $ | (96,887) |  |  | $ | (1,037,424) |  |
Other comprehensive income (loss) before reclassifications | (7,228) |  |  | (865) |  |  | 18,179 |  |  | 10,086 |  |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 3,767 |  |  | (470) |  |  | 3,297 |  |
Net other comprehensive income (loss) | (7,228) |  |  | 2,902 |  |  | 17,709 |  |  | 13,383 |  |
Balance, September 2025 | $ | (770,855) |  |  | $ | (174,008) |  |  | $ | (79,178) |  |  | $ | (1,024,041) |  |
| Three Months Ended September 2024 |
(In thousands) | Foreign Currency Translation and Other |  | Defined Benefit Pension Plans |  | Derivative Financial Instruments |  | Total |
Balance, June 2024 | $ | (887,892) |  |  | $ | (178,701) |  |  | $ | 12,966 |  |  | $ | (1,053,627) |  |
Other comprehensive income (loss) before reclassifications | 17,898 |  |  | (26) |  |  | (47,838) |  |  | (29,966) |  |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 3,640 |  |  | 9,373 |  |  | 13,013 |  |
Net other comprehensive income (loss) | 17,898 |  |  | 3,614 |  |  | (38,465) |  |  | (16,953) |  |
Balance, September 2024 | $ | (869,994) |  |  | $ | (175,087) |  |  | $ | (25,499) |  |  | $ | (1,070,580) |  |
| Six Months Ended September 2025 |
(In thousands) | Foreign Currency Translation and Other |  | Defined Benefit Pension Plans |  | Derivative Financial Instruments |  | Total |
Balance, March 2025 | $ | (821,189) |  |  | $ | (180,047) |  |  | $ | 23,496 |  |  | $ | (977,740) |  |
Other comprehensive income (loss) before reclassifications | 50,334 |  |  | (855) |  |  | (91,133) |  |  | (41,654) |  |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 6,894 |  |  | (11,541) |  |  | (4,647) |  |
Net other comprehensive income (loss) | 50,334 |  |  | 6,039 |  |  | (102,674) |  |  | (46,301) |  |
Balance, September 2025 | $ | (770,855) |  |  | $ | (174,008) |  |  | $ | (79,178) |  |  | $ | (1,024,041) |  |
| Six Months Ended September 2024 |
(In thousands) | Foreign Currency Translation and Other |  | Defined Benefit Pension Plans |  | Derivative Financial Instruments |  | Total |
Balance, March 2024 | $ | (868,439) |  |  | $ | (182,333) |  |  | $ | (13,559) |  |  | $ | (1,064,331) |  |
Other comprehensive loss before reclassifications | (1,555) |  |  | (36) |  |  | (32,053) |  |  | (33,644) |  |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 7,282 |  |  | 20,113 |  |  | 27,395 |  |
Net other comprehensive income (loss) | (1,555) |  |  | 7,246 |  |  | (11,940) |  |  | (6,249) |  |
Balance, September 2024 | $ | (869,994) |  |  | $ | (175,087) |  |  | $ | (25,499) |  |  | $ | (1,070,580) |  |
Reclassifications out of accumulated OCL were as follows:
(In thousands) |  |  |  | Three Months Ended September |  |  | Six Months Ended September
Details About Accumulated Other Comprehensive Loss Components | Affected Line Item in the Consolidated Statements of Operations
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024
Amortization of defined benefit pension plans: |  |  |  |  |  |  |  |  |  |  |  |
Net deferred actuarial losses | Other income (expense), net |  |  | $ | (4,874) |  |  |  | $ | (5,051) |  |  |  | $ | (9,745) |  |  |  | $ | (10,097) |
Deferred prior service credits | Other income (expense), net |  |  | 158 |  |  |  | 150 |  |  |  | 311 |  |  |  | 294 |
Pension settlement charge | Other income (expense), net |  |  | (341) |  |  |  | — |  |  |  | (341) |  |  |  | — |
Pension curtailment gains | Other income (expense), net |  |  | — |  |  |  | — |  |  |  | 531 |  |  |  | — |
Total before tax |  |  |  | (5,057) |  |  |  | (4,901) |  |  |  | (9,244) |  |  |  | (9,803) |
Income tax effect |  |  |  | 1,290 |  |  |  | 1,261 |  |  |  | 2,350 |  |  |  | 2,521 |
Net of tax |  |  |  | (3,767) |  |  |  | (3,640) |  |  |  | (6,894) |  |  |  | (7,282) |
Gains (losses) on derivative financial instruments: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts | Revenues |  |  | 545 |  |  |  | (7,851) |  |  |  | (1,426) |  |  |  | (12,182) |
Foreign exchange contracts | Cost of goods sold |  |  | (863) |  |  |  | (4,001) |  |  |  | 14,171 |  |  |  | (14,127) |
Foreign exchange contracts | SG&A expenses |  |  | (250) |  |  |  | (47) |  |  |  | (511) |  |  |  | (455) |
Foreign exchange contracts | Other income (expense), net |  |  | 1,074 |  |  |  | 53 |  |  |  | 1,550 |  |  |  | (3) |
Interest rate contracts | Interest expense |  |  | 27 |  |  |  | 27 |  |  |  | 54 |  |  |  | 54 |
Interest rate contracts | Loss from discontinued operations, net of tax |  |  | — |  |  |  | 1,134 |  |  |  | — |  |  |  | 2,299 |
Total before tax |  |  |  | 533 |  |  |  | (10,685) |  |  |  | 13,838 |  |  |  | (24,414) |
Income tax effect |  |  |  | (63) |  |  |  | 1,312 |  |  |  | (2,297) |  |  |  | 4,301 |
Net of tax |  |  |  | 470 |  |  |  | (9,373) |  |  |  | 11,541 |  |  |  | (20,113) |
Total reclassifications for the period, net of tax |  |  | $ | (3,297) |  |  |  | $ | (13,013) |  |  |  | $ | 4,647 |  |  |  | $ | (27,395) |

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