EX-99.3 4 q12026ex993recastsegmentin.htm EX-99.3
Exhibit 99.3
Change in Reportable Segments
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 chief operating decision maker'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. In the table below, results for the "All Other" category are included as a reconciling item between VF's reportable segments and its consolidated results of operations.
The following table recasts the quarterly segment information for Fiscal 2025 to reflect the current presentation:
VF CORPORATION
Supplemental Financial Information
Revised Segment Information
(Unaudited)
(In thousands)

| Three Months Ended June 2024 |  | Three Months Ended September 2024 |  | Three Months Ended December 2024 |  | Three Months Ended March 2025 |  | Twelve Months Ended March 2025
Revenues: |  |  |  |  |  |  |  |  |
Outdoor segment | $ | 753,630 |  |  | $ | 1,566,722 |  |  | $ | 1,780,276 |  |  | $ | 1,210,433 |  |  | $ | 5,311,061 |
Active segment | 776,734 |  |  | 824,536 |  |  | 716,549 |  |  | 596,488 |  |  | 2,914,307 |
All Other | 238,696 |  |  | 366,690 |  |  | 337,087 |  |  | 336,850 |  |  | 1,279,323 |
Total revenues | $ | 1,769,060 |  |  | $ | 2,757,948 |  |  | $ | 2,833,912 |  |  | $ | 2,143,771 |  |  | $ | 9,504,691 |
Segment profit (loss): |  |  |  |  |  |  |  |  |
Outdoor segment | $ | (72,887) |  |  | $ | 278,138 |  |  | $ | 389,155 |  |  | $ | 114,146 |  |  | $ | 708,552 |
Active segment | 71,465 |  |  | 93,451 |  |  | 6,668 |  |  | (37,588) |  |  | 133,996 |
Total segment profit (loss) | (1,422) |  |  | 371,589 |  |  | 395,823 |  |  | 76,558 |  |  | 842,548 |
Impairment of goodwill and intangible assets | — |  |  | — |  |  | (51,000) |  |  | (38,242) |  |  | (89,242) |
Corporate and other expenses | (115,519) |  |  | (138,238) |  |  | (142,202) |  |  | (150,781) |  |  | (546,740) |
Interest expense, net | (40,947) |  |  | (42,688) |  |  | (36,516) |  |  | (29,092) |  |  | (149,243) |
"All Other" profit (loss) | (7,565) |  |  | 39,892 |  |  | 30,564 |  |  | 24,947 |  |  | 87,838 |
Income (loss) from continuing operations before income taxes | $ | (165,453) |  |  | $ | 230,555 |  |  | $ | 196,669 |  |  | $ | (116,610) |  |  | $ | 145,161 |