Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income

v2.4.0.8
Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 28, 2013
Dec. 29, 2012
Dec. 31, 2011
Net sales $ 11,302,350 $ 10,766,020 $ 9,365,477
Royalty income 117,298 113,835 93,755
Total revenues 11,419,648 [1] 10,879,855 [2] 9,459,232
Costs and operating expenses      
Cost of goods sold 5,931,469 5,817,880 5,128,602
Selling, general and administrative expenses 3,841,032 3,596,708 3,085,839
Costs and Expenses, Total 9,772,501 9,414,588 8,214,441
Operating income 1,647,147 [1] 1,465,267 [2] 1,244,791
Interest income 4,141 3,353 4,778
Interest expense (84,773) (93,605) (77,578)
Other income (expense), net (4,025) 46,860 (7,248)
Income before income taxes 1,562,490 1,421,875 1,164,743
Income taxes 352,371 335,737 274,350
Net income 1,210,119 1,086,138 890,393
Net (income) loss attributable to noncontrolling interests   (139) (2,304)
Net income attributable to VF Corporation common stockholders $ 1,210,119 [1] $ 1,085,999 [2] $ 888,089
Earnings per common share attributable to VF Corporation common stockholders      
Basic $ 2.76 [1] $ 2.47 [2] $ 2.03
Diluted $ 2.71 [1] $ 2.43 [2] $ 2.00
Cash dividends per common share $ 0.9150 [1] $ 0.7575 [2] $ 0.6525
[1] Transaction and restructuring costs related to the acquisition of Timberland reduced operating results in 2013 as follows: First Quarter Second Quarter Third Quarter Fourth Quarter Full Year In millions, except per share amounts Operating income $ 2.8 $ 4.5 $ 2.8 $ 0.6 $ 10.7 Net income 2.2 3.8 2.2 0.6 8.8 Earnings per share: Basic $ 0.01 $ 0.01 $ - $ - $ 0.02 Diluted $ 0.01 $ 0.01 $ - $ - $ 0.02
[2] Transaction and restructuring costs related to the acquisition of Timberland reduced operating results in 2012 as follows: First Quarter Second Quarter Third Quarter Fourth Quarter Full Year In millions, except per share amounts Operating income $ 4.6 $ 5.0 $ 14.4 $ 6.8 $ 30.8 Net income 3.3 3.1 11.3 10.2 27.9 Earnings per share: Basic $ 0.01 $ 0.01 $ 0.02 $ 0.02 $ 0.06 Diluted $ 0.01 $ 0.01 $ 0.02 $ 0.02 $ 0.06