Quarterly report pursuant to Section 13 or 15(d)

PENSION PLANS (Tables)

v3.10.0.1
PENSION PLANS (Tables)
 9 Months Ended
Dec. 29, 2018
Retirement Benefits [Abstract]  
Components of Pension Cost
The components of pension cost for VF’s defined benefit plans were as follows:
 
 
Three Months Ended December
 
 
Nine Months Ended December
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
 
2018
 
 
2017
 
 
2018
 
 
2017
Service cost – benefits earned during the period
 
$
6,097

 
 
$
6,157

 
 
$
17,882

 
 
$
18,474

Interest cost on projected benefit obligations
 
15,807

 
 
14,735

 
 
47,638

 
 
44,174

Expected return on plan assets
 
(23,185
)
 
 
(23,830
)
 
 
(70,216
)
 
 
(71,452
)
Pension settlement charges
 
662

 
 
—

 
 
8,846

 
 
—

Pension curtailment losses
 
—

 
 
1,671

 
 
9,483

 
 
1,671

Amortization of deferred amounts:
 
 
 
 
 
 
 
 
 
 
 
Net deferred actuarial losses
 
6,676

 
 
10,026

 
 
22,153

 
 
30,058

Deferred prior service costs (credits)
 
(58
)
 
 
646

 
 
552

 
 
1,934

Net periodic pension cost
 
$
5,999

 
 
$
9,405

 
 
$
36,338

 
 
$
24,859


The amounts reported in these disclosures have not been segregated between continuing and discontinued operations.
Schedule of Effect of Significant Unobservable Inputs, Changes in Plan Assets [Table Text Block]
Actuarial assumptions used in the interim valuations were reviewed and revised as appropriate. The discount rates used to determine pension obligations were as follows:
 
 
December 29, 2018
 
 
September 29, 2018
 
June 30, 2018
 
April 30, 2018
U.S. qualified defined benefit pension plan
 
N/A

 
 
N/A

 
4.25
%
 
N/A

Supplemental defined benefit pension plan
 
4.36
%
 
 
4.29
%
 
4.24
%
 
4.22
%