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REPORTABLE SEGMENT INFORMATION
 6 Months Ended
Sep. 27, 2025
Segment Reporting [Abstract]  
REPORTABLE SEGMENT INFORMATION REPORTABLE SEGMENT INFORMATION
VF's President and CEO is the Company's CODM. The Company's individual global brands, or in certain cases the combination of global brands, have been determined to be operating segments. The operating segments have been evaluated and aggregated into reportable segments because they meet the similar economic characteristics and qualitative aggregation criteria set forth in the relevant accounting guidance. In the first quarter of Fiscal 2026, VF realigned its reportable segments to reflect a change in how the Timberland® brand is managed and the CODM's key areas of focus. VF began managing its Timberland® and Timberland PRO® brands as one operating segment during the first quarter of Fiscal 2026. This operating segment has been aggregated with The North Face® brand in the Outdoor reportable segment and the Vans®, Kipling®, Eastpak® and JanSport® brands have been aggregated in the Active reportable segment. All
other brands that have not been aggregated within the reportable segments described above, which do not meet the quantitative threshold to be disclosed as a separate reportable segment, have been grouped within an "All Other" category. This group includes the Dickies®, Altra®, Smartwool®, Napapijri® and Icebreaker® brands. Results for the "All Other" category are included as a reconciling item between the Company's reportable segments and its consolidated results of operations and assets.
Reportable segment results for all prior periods have been recast to reflect the change in reportable segments. These changes had no impact on previously reported consolidated results of operations.
Below is a description of VF's reportable segments and the brands included within each:
REPORTABLE SEGMENTBRANDS
Outdoor - Outdoor apparel, footwear and equipment
The North Face®
Timberland®
Active - Active apparel, footwear and accessories
Vans®
Kipling®
Eastpak®
JanSport®
All Other - included in the tables below for purposes of reconciliation of revenues, profit and assets, but it is not considered a reportable segment. "All Other" includes the Dickies®, Altra®, Smartwool®, Napapijri® and Icebreaker® brands.
The primary financial measures used by the CODM to assess performance and allocate resources to VF's segments are segment revenues and segment profit. Segment profit comprises the operating income (loss) and other income (expense), net line items of each segment. Segment revenues and segment profit are regularly reviewed by the CODM and compared against historical results, forecast and budget information in order to make decisions about how to allocate capital and other resources to each segment.
Corporate costs (other than common costs allocated to the segments), goodwill and indefinite-lived intangible asset impairment charges and net interest expense are not controlled by segment management and therefore are excluded from the measurement of segment profit. Common costs such as information systems processing, retirement benefits and insurance are allocated from corporate costs to the segments based on appropriate metrics such as usage or employment. Corporate costs that are not allocated to the segments consist of corporate headquarters expenses (including compensation and benefits of corporate management and staff, certain legal and professional fees and administrative and general costs), costs of
corporate programs or corporate-managed decisions, and other expenses which include a portion of defined benefit pension costs, development costs for management information systems, costs of registering, maintaining and enforcing certain of VF’s trademarks and miscellaneous consolidated costs. Defined benefit pension plans in the U.S. are centrally managed. The current year service cost component of pension cost is allocated to the segments, while the remaining pension cost components are reported in corporate and other expenses.
Segment assets are those used directly in or resulting from the operations of each business, which are accounts receivable and inventories. Segment assets included in the "All Other" category represent accounts receivable and inventory balances related to the brands included within the "All Other" category as noted above and segment assets included in the "Corporate and other" category represent receivable balances primarily related to corporate activities, and both are provided for purposes of reconciliation as they are not considered reportable segments. Total expenditures for additions to long-lived assets are not disclosed as this information is not regularly provided to the CODM at the segment level.
Financial information for VF's segments is as follows:
Three Months Ended September 2025
(In thousands)OutdoorActiveTotal
Reportable segment revenues$1,663,479 $760,750 $2,424,229 
"All Other" revenues378,477 
Total revenues2,802,706 
Less:
Cost of goods sold822,350 324,366 
Marketing expenses119,990 64,196 
Other SG&A expenses423,058 306,974 
Other segment items (a)
2,659 534 
Segment profit300,740 65,748 366,488 
Corporate and other expenses(95,672)
Interest expense, net(46,209)
"All Other" profit43,674 
Income from continuing operations before income taxes$268,281 
(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.
Three Months Ended September 2024
(In thousands)OutdoorActiveTotal
Reportable segment revenues$1,566,722 $824,536 $2,391,258 
"All Other" revenues366,690 
Total revenues2,757,948 
Less:
Cost of goods sold783,343 335,465 
Marketing expenses104,793 74,695 
Other SG&A expenses400,976 320,927 
Other segment items (a)
528 2 
Segment profit 278,138 93,451 371,589 
Corporate and other expenses(138,238)
Interest expense, net (b)
(42,688)
"All Other" profit39,892 
Income from continuing operations before income taxes$230,555 
(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 impact for the DDTL, which totaled $16.2 million for the three months ended September 2024, were allocated to discontinued operations due to the requirement within the DDTL's amended agreement that the DDTL be prepaid upon the receipt of the net cash proceeds from the sale of Supreme.
Six Months Ended September 2025
(In thousands)OutdoorActiveTotal
Reportable segment revenues$2,475,945 $1,460,437 $3,936,382 
"All Other" revenues626,990 
Total revenues4,563,372 
Less:
Cost of goods sold1,208,427 623,135 
Marketing expenses191,581 117,313 
Other SG&A expenses821,611 598,254 
Other segment items (a)
4,144 851 
Segment profit 258,470 122,586 381,056 
Corporate and other expenses(200,232)
Interest expense, net
(87,329)
"All Other" profit48,193 
Income from continuing operations before income taxes$141,688 
(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.
Six Months Ended September 2024
(In thousands)OutdoorActiveTotal
Reportable segment revenues$2,320,352 $1,601,270 $3,921,622 
"All Other" revenues605,386 
Total revenues4,527,008 
Less:
Cost of goods sold1,184,919 665,592 
Marketing expenses171,182 142,017 
Other SG&A expenses759,589 628,730 
Other segment items (a)
589 (15)
Segment profit205,251 164,916 370,167 
Corporate and other expenses(253,757)
Interest expense, net (b)
(83,635)
"All Other" profit32,327 
Income from continuing operations before income taxes$65,102 
(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 impact for the DDTL, which totaled $31.1 million for the six months ended September 2024, were allocated to discontinued operations due to the requirement within the DDTL's amended agreement that the DDTL be prepaid upon the receipt of the net cash proceeds from the sale of Supreme.
(In thousands)September 2025March 2025September 2024
Segment assets:
Outdoor$2,454,730 $1,552,908 $2,367,478 
Active894,891 860,128 911,778 
All Other370,102 507,223 616,577 
Corporate and other17,770 28,429 7,282 
Total segment assets3,737,493 2,948,688 3,903,115 
Cash and cash equivalents419,115 429,382 492,164 
Property, plant and equipment, net688,478 720,879 755,802 
Goodwill and intangible assets, net2,096,460 2,314,093 2,426,628 
Operating lease right-of-use assets1,347,097 1,262,319 1,313,030 
Other assets1,818,974 1,702,175 1,737,915 
Assets held-for-sale536,507 — — 
Assets of discontinued operations— — 1,590,984 
Consolidated assets$10,644,124 $9,377,536 $12,219,638 
Three Months Ended SeptemberSix Months Ended September
(In thousands)2025202420252024
Depreciation and amortization:
Outdoor$26,147 $24,171 $52,121 $48,559 
Active12,943 13,569 26,321 27,675 
All Other7,332 5,268 12,274 10,558 
Corporate and other23,380 18,763 43,448 39,604 
$69,802 $61,771 $134,164 $126,396