Quarterly report pursuant to Section 13 or 15(d)

RESTRUCTURING

v3.10.0.1
RESTRUCTURING
 6 Months Ended
Sep. 29, 2018
Restructuring and Related Activities [Abstract]  
RESTRUCTURING
RESTRUCTURING

The Company typically incurs restructuring charges related to strategic initiatives and cost optimization of business activities. During the three and six months ended September 2018, VF leadership approved $13.0 million and $23.7 million, respectively, of restructuring charges. VF recognized $9.9 million and $17.8 million in selling, general and administrative expenses for the three and six months ended September 2018, respectively, and $3.1 million and $5.9 million in cost of goods sold for the three and six months ended September 2018, respectively. The Company has not recognized significant incremental costs related to the 2016 and 2017 initiatives. Management expects to recognize additional expense for activities during Fiscal 2019.
Of the $43.5 million total restructuring accrual at September 2018, $30.4 million is expected to be paid out within the next 12 months and is classified within accrued liabilities. The remaining $13.1 million will be paid out beyond the next 12 months and thus is classified within other liabilities.
The activity in the restructuring accrual for the six-month period ended September 2018 is as follows:
(In thousands)
Severance
 
Other
 
Total
Accrual at March 2018
$
43,145

 
$
444

 
$
43,589

Charges
22,214

 
1,450

 
23,664

Cash payments
(18,254
)
 
(838
)
 
(19,092
)
Adjustments to accruals
(4,519
)
 
—

 
(4,519
)
Currency translation
(168
)
 
—

 
(168
)
Accrual at September 2018
$
42,418

 
$
1,056

 
$
43,474



Restructuring charges were incurred as follows:
(In thousands)
 
Three Months Ended September 2018
 
Six Months Ended September 2018
 
Outdoor
 
$
9,997

 
$
12,895

 
Active
 
493

 
3,052

 
Work
 
1,111

 
3,939

 
Jeans
 
405

 
1,277

 
Corporate and other
 
995

 
2,501

 
Total
 
$
13,001

 
$
23,664