| Quarterly Results of Operations (Unaudited) |
Note X — Quarterly
Results of Operations (Unaudited)
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First
Quarter |
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Second
Quarter |
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Third
Quarter |
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Fourth
Quarter |
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Full
Year
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In thousands, except per
share amounts |
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2013 (a)
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Total revenues
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$ |
2,611,869 |
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$ |
2,220,411 |
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$ |
3,297,269 |
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$ |
3,290,099 |
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$ |
11,419,648 |
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Operating income
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357,728 |
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201,334 |
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579,703 |
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508,382 |
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1,647,147 |
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Net income attributable to
VF Corporation
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270,417 |
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138,274 |
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433,761 |
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367,667 |
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1,210,119 |
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Earnings per share
attributable to VF Corporation common stockholders:
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Basic
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$ |
0.61 |
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$ |
0.32 |
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$ |
0.99 |
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$ |
0.84 |
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$ |
2.76 |
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Diluted
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0.60 |
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0.31 |
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0.97 |
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0.82 |
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2.71 |
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Dividends per common
share
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$ |
0.2175 |
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$ |
0.2175 |
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$ |
0.2175 |
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$ |
0.2625 |
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$ |
0.9150 |
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2012 (b)
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Total revenues
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$ |
2,556,455 |
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$ |
2,141,786 |
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$ |
3,148,354 |
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$ |
3,033,260 |
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$ |
10,879,855 |
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Operating income
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314,102 |
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163,985 |
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536,892 |
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450,288 |
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1,465,267 |
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Net income attributable to
VF Corporation (c)
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215,216 |
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155,297 |
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381,318 |
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334,168 |
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1,085,999 |
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Earnings per share
attributable to VF Corporation common stockholders:
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Basic
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$ |
0.49 |
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$ |
0.36 |
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$ |
0.87 |
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$ |
0.76 |
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$ |
2.47 |
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Diluted
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0.48 |
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0.35 |
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0.86 |
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0.75 |
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2.43 |
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Dividends per common
share
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$ |
0.1800 |
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$ |
0.1800 |
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$ |
0.1800 |
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$ |
0.2175 |
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$ |
0.7575 |
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| (a) |
Transaction and restructuring costs related to the acquisition
of Timberland reduced operating results in 2013 as
follows:
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First
Quarter |
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Second
Quarter |
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Third
Quarter |
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Fourth
Quarter |
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Full
Year |
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In millions, except per
share amounts |
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Operating income
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$ |
2.8 |
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$ |
4.5 |
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$ |
2.8 |
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$ |
0.6 |
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$ |
10.7 |
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Net income
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2.2 |
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3.8 |
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2.2 |
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0.6 |
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8.8 |
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Earnings per
share:
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Basic
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$ |
0.01 |
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$ |
0.01 |
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$ |
— |
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$ |
— |
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$ |
0.02 |
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Diluted
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$ |
0.01 |
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$ |
0.01 |
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$ |
— |
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$ |
— |
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$ |
0.02 |
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| (b) |
Transaction and restructuring costs related to the acquisition
of Timberland reduced operating results in 2012 as
follows:
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First
Quarter |
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Second
Quarter |
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Third
Quarter |
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Fourth
Quarter |
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Full
Year |
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In millions, except per
share amounts |
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Operating income
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$ |
4.6 |
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$ |
5.0 |
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$ |
14.4 |
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$ |
6.8 |
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$ |
30.8 |
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Net income
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3.3 |
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3.1 |
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11.3 |
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10.2 |
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27.9 |
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Earnings per
share:
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Basic
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$ |
0.01 |
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$ |
0.01 |
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$ |
0.02 |
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$ |
0.02 |
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$ |
0.06 |
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Diluted
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$ |
0.01 |
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$ |
0.01 |
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$ |
0.02 |
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$ |
0.02 |
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$ |
0.06 |
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| (c) |
The second quarter of 2012 includes a gain on the sale of John
Varvatos Enterprises, Inc. of $35.8 million, net of related income
taxes.
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