VF Corporation Annual report pursuant to Section 13 and 15(d)

Business Segment Information (Tables)

12 Months Ended

Dec. 28, 2013

Financial information for VF’s reportable segments is as follows:


	2013			2012			2011
	In thousands
Coalition revenues:
Outdoor & Action Sports ^(a)	$	6,379,167		$	5,866,071		$	4,561,998
Jeanswear		2,810,994			2,789,293			2,731,770
Imagewear		1,065,952			1,075,677			1,025,214
Sportswear		624,693			577,317			543,515
Contemporary Brands ^(b)		415,053			445,960			485,142
Other		123,789			125,537			111,593

Total revenues	$	11,419,648		$	10,879,855		$	9,459,232

Coalition profit:
Outdoor & Action Sports ^(c)	$	1,106,384		$	1,019,425		$	828,228
Jeanswear		544,882			466,960			413,187
Imagewear		152,203			145,053			145,655
Sportswear		88,157			72,978			56,312
Contemporary Brands ^(b)		38,825			49,182			35,860
Other		(562	)		(232	)		(1,024	)

Total coalition profit		1,929,889			1,753,366			1,478,218
Corporate and other expenses ^(c)		(286,767	)		(241,239	)		(240,675	)
Interest expense, net		(80,632	)		(90,252	)		(72,800	)

Income before income taxes	$	1,562,490		$	1,421,875		$	1,164,743

^(a)	Includes operating results of The Timberland Company since its acquisition date of September 13, 2011.

^(b)	Excludes operating results of John Varvatos Enterprises, Inc. since its disposition date of April 30, 2012.

^(c)	Includes expenses related to the acquisition of Timberland as follows:

2013—$10.7 million reported in Outdoor & Action Sports

2012—$30.8 million reported in Outdoor & Action Sports ($22.1 million) and Corporate ($8.7 million)

2011—$33.5 million reported in Outdoor & Action Sports ($23.7 million) and Corporate ($9.8 million)


	2013		2012		2011
	In thousands
Coalition assets:
Outdoor & Action Sports	$	2,133,447	$	1,944,822	$	1,762,774
Jeanswear		943,011		870,302		898,733
Imagewear		334,864		341,588		356,782
Sportswear		156,107		131,393		128,823
Contemporary Brands		187,116		172,564		195,528
Other		74,043		66,774		63,262

Total coalition assets		3,828,588		3,527,443		3,405,902
Cash and equivalents		776,403		597,461		341,228
Intangible assets and goodwill		4,981,951		4,926,815		4,981,923
Deferred income taxes		185,858		167,685		136,021
Corporate assets		542,643		413,617		448,052

Consolidated assets	$	10,315,443	$	9,633,021	$	9,313,126

Capital expenditures:
Outdoor & Action Sports	$	139,428	$	155,522	$	90,381
Jeanswear		49,763		67,239		21,076
Imagewear		3,793		4,967		5,318
Sportswear		6,074		5,279		5,902
Contemporary Brands		13,679		6,766		16,534
Other		3,953		5,418		5,370
Corporate		54,463		6,749		26,313

	$	271,153	$	251,940	$	170,894

Depreciation and amortization expense:
Outdoor & Action Sports	$	122,385	$	114,483	$	83,559
Jeanswear		41,742		39,520		41,207
Imagewear		11,481		11,733		11,513
Sportswear		12,195		11,639		12,072
Contemporary Brands		24,309		24,915		26,590
Other		4,608		5,517		4,122
Corporate		36,553		30,149		19,672

	$	253,273	$	237,956	$	198,735

Supplemental information (with revenues by geographic area based on the location of the customer) is as follows:


	2013		2012		2011
	In thousands
Total revenues:
U.S.	$	7,124,781	$	6,903,269	$	6,220,933
Foreign, primarily Europe		4,294,867		3,976,586		3,238,299

	$	11,419,648	$	10,879,855	$	9,459,232

Property, plant and equipment:
U.S.	$	549,420	$	513,282	$	521,838
Foreign, primarily Europe		383,372		314,936		215,613

	$	932,792	$	828,218	$	737,451