VF Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Capital and Accumulated Other Comprehensive Income (Loss) (Tables)

Capital and Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Oct. 03, 2015

Shares Held for Deferred Compensation Plans

Balances related to shares held for deferred compensation plans are as follows:


	September		December		September
In millions, except share amounts	2015		2014		2014
Shares held for deferred compensation plans		560,049		637,504		640,404
Cost of shares held for deferred compensation plans	$	6.7	$	7.7	$	7.6

Deferred Components of OCI Reported, Net of Related Income Taxes, in Accumulated Other Comprehensive Income (Loss) in Stockholders' Equity

The deferred components of OCI are reported, net of related income taxes, in accumulated other comprehensive income (loss) in stockholders’ equity, as follows:


	September			December			September
In thousands	2015			2014			2014
Foreign currency translation	$	(585,275	)	$	(356,941	)	$	(161,259	)
Defined benefit pension plans		(348,537	)		(377,134	)		(257,962	)
Derivative financial instruments		35,037			31,389			324
Marketable securities		—			414			662

Accumulated other comprehensive income (loss)	$	(898,775	)	$	(702,272	)	$	(418,235	)

Changes in Accumulated Other Comprehensive Income (Loss), Net of Related Taxes

The changes in accumulated other comprehensive income (loss), net of related taxes, are as follows:


	Three Months Ended September 2015
In thousands	Foreign Currency Translation			Defined Benefit Pension Plans			Derivative Financial Instruments			Marketable Securities			Total
Balance, June 2015	$	(599,297	)	$	(360,125	)	$	45,796		$	—		$	(913,626	)

Other comprehensive income (loss) before reclassification		14,022			—			3,456			—			17,478
Amounts reclassified from accumulated other comprehensive income (loss)		—			11,588			(14,215	)		—			(2,627	)

Net other comprehensive income (loss)		14,022			11,588			(10,759	)		—			14,851

Balance, September 2015	$	(585,275	)	$	(348,537	)	$	35,037		$	—		$	(898,775	)


	Three Months Ended September 2014
In thousands	Foreign Currency Translation			Defined Benefit Pension Plans			Derivative Financial Instruments			Marketable Securities			Total
Balance, June 2014	$	70,525		$	(264,187	)	$	(38,684	)	$	134		$	(232,212	)

Other comprehensive income (loss) before reclassification		(231,784	)		—			31,171			528			(200,085	)
Amounts reclassified from accumulated other comprehensive income (loss)		—			6,225			7,837			—			14,062

Net other comprehensive income (loss)		(231,784	)		6,225			39,008			528			(186,023	)

Balance, September 2014	$	(161,259	)	$	(257,962	)	$	324		$	662		$	(418,235	)


	Nine Months Ended September 2015
In thousands	Foreign Currency Translation			Defined Benefit Pension Plans			Derivative Financial Instruments			Marketable Securities			Total
Balance, December 2014	$	(356,941	)	$	(377,134	)	$	31,389		$	414		$	(702,272	)

Other comprehensive income (loss) before reclassification		(228,334	)		—			31,925			300			(196,109	)
Amounts reclassified from accumulated other comprehensive income (loss)		—			28,597			(28,277	)		(714	)		(394	)

Net other comprehensive income (loss)		(228,334	)		28,597			3,648			(414	)		(196,503	)

Balance, September 2015	$	(585,275	)	$	(348,537	)	$	35,037		$	—		$	(898,775	)


	Nine Months Ended September 2014
In thousands	Foreign Currency Translation			Defined Benefit Pension Plans			Derivative Financial Instruments			Marketable Securities			Total
Balance, December 2013	$	106,647		$	(277,451	)	$	(41,754	)	$	838		$	(211,720	)

Other comprehensive income (loss) before reclassifications		(267,906	)		—			26,457			(176	)		(241,625	)
Amounts reclassified from accumulated other comprehensive income (loss)		—			19,489			15,621			—			35,110

Net other comprehensive income (loss)		(267,906	)		19,489			42,078			(176	)		(206,515	)

Balance, September 2014	$	(161,259	)	$	(257,962	)	$	324		$	662		$	(418,235	)

Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

Reclassifications out of accumulated other comprehensive income (loss) are as follows:


In thousands	Affected Line Item in the Consolidated Statements	Three Months Ended						Nine Months Ended
Details About Accumulated Other	Affected Line Item in the Consolidated Statements	September						September
Comprehensive Income (Loss) Components	of Income	2015			2014			2015			2014
Amortization of defined benefit pension plans:
Net deferred actuarial losses	^(a)	$	(15,493	)	$	(9,385	)	$	(46,485	)	$	(28,158	)
Deferred prior service costs	^(a)		(760	)		(1,361	)		(2,281	)		(4,085	)
Pension settlement charges	Selling, general and administrative expenses		(2,400	)		—			(3,992	)		—

	Total before tax		(18,653	)		(10,746	)		(52,758	)		(32,243	)
	Tax benefit		7,065			4,521			24,161			12,754

	Net of tax		(11,588	)		(6,225	)		(28,597	)		(19,489	)

Gains (losses) on derivative financial instruments
Foreign exchange contracts	Net sales		(22,434	)		(7,657	)		(51,279	)		(7,539	)
Foreign exchange contracts	Cost of goods sold		39,142			(3,496	)		80,633			(13,199	)
Foreign exchange contracts	Other income (expense), net		7,541			(730	)		20,515			(1,945	)
Interest rate contracts	Interest expense		(1,078	)		(1,028	)		(3,200	)		(3,051	)

	Total before tax		23,171			(12,911	)		46,669			(25,734	)
	Tax benefit (expense)		(8,956	)		5,074			(18,392	)		10,113

	Net of tax		14,215			(7,837	)		28,277			(15,621	)

Gains (losses) on sale of marketable securities	Other income (expense), net		—			—			1,177			—
	Tax expense		—			—			(463	)		—

	Net of tax		—			—			714			—

Total reclassifications for the period	Net of tax	$	2,627		$	(14,062	)	$	394		$	(35,110	)

^(a)	These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost (see Note G for additional details).

- Definition

Tabular disclosure of an equity-based arrangement (such as stock or unit options and stock or unit awards) with an individual employee, which is generally an employment contract between the entity and a selected officer or key employee containing a promise by the employer to pay certain equity-based awards at future dates, sometimes including a period after retirement, upon compliance with stipulated requirements. This type of arrangement is distinguished from broader based employee benefit plans as it is usually tailored to the employee. Disclosure also typically includes the amount of related compensation expense recognized during the reporting period, the number of shares or units issued during the period under such arrangements, and the carrying amount as of the balance sheet date of the related liability.

+ References + Details