Annual report pursuant to Section 13 and 15(d)

ACQUISITIONS (Tables)

v3.19.1
ACQUISITIONS (Tables)
12 Months Ended
Mar. 30, 2019
Business Combinations [Abstract]  
Assets and Liabilities Acquired
The following table summarizes the estimated fair values of the Williamson-Dickie assets acquired and liabilities assumed at the date of acquisition:
(In thousands)
 
October 2, 2017
Cash and equivalents
 
$
60,172

Accounts receivable
 
146,403

Inventories
 
251,778

Other current assets
 
8,447

Property, plant and equipment
 
105,119

Intangible assets
 
397,755

Other assets
 
9,665

Total assets acquired
 
979,339

 
 
 
Short-term borrowings
 
17,565

Accounts payable
 
88,052

Other current liabilities
 
109,964

Deferred income tax liabilities
 
15,160

Other noncurrent liabilities
 
33,066

Total liabilities assumed
 
263,807

 
 
 
Net assets acquired
 
715,532

Goodwill
 
82,863

Purchase price
 
$
798,395

The following table summarizes the estimated fair values of the Altra assets acquired and liabilities assumed at the date of acquisition:
(In thousands)
 
June 1, 2018
 
Accounts receivable
 
$
11,629

 
Inventories
 
9,310

 
Other current assets
 
575

 
Property, plant and equipment
 
1,107

 
Intangible assets
 
59,700

 
Total assets acquired
 
82,321

 

 

 
Accounts payable
 
5,068

 
Other current liabilities
 
7,415

 
Total liabilities assumed
 
12,483

 

 

 
Net assets acquired
 
69,838

 
Goodwill
 
61,719

 
Purchase price
 
$
131,557

 
The following table summarizes the estimated fair values of the Icebreaker assets acquired and liabilities assumed at the date of acquisition:
(In thousands)
 
April 3, 2018
 
Cash and equivalents
 
$
6,444

 
Accounts receivable
 
16,781

 
Inventories
 
31,728

 
Other current assets
 
3,931

 
Property, plant and equipment
 
3,858

 
Intangible assets
 
98,041

 
Other assets
 
4,758

 
Total assets acquired
 
165,541

 
 
 
 
 
Short-term borrowings
 
7,235

 
Accounts payable
 
2,075

 
Other current liabilities
 
21,262

 
Deferred income tax liabilities
 
26,870

 
Other noncurrent liabilities
 
433

 
Total liabilities assumed
 
57,875

 
 
 
 
 
Net assets acquired
 
107,666

 
Goodwill
 
89,943

 
Purchase price
 
$
197,609

 
Pro Forma Results
The following unaudited pro forma summary presents consolidated information of VF as if the acquisition of Williamson-Dickie had occurred on January 3, 2016:
(In thousands, except per share amounts)
 
Year Ended December 2017 (unaudited)
 
Year Ended December 2016 (unaudited)
Total revenues
 
$
12,475,116

 
$
11,888,704

Income from continuing operations
 
763,563

 
1,097,572

Earnings per common share from continuing operations
 
 
 
 
Basic
 
$
1.91

 
$
2.64

Diluted
 
1.89

 
2.60