Quarterly report pursuant to Section 13 or 15(d)

PENSION PLANS (Tables)

v3.19.3
PENSION PLANS (Tables)
 6 Months Ended
Sep. 28, 2019
Retirement Benefits [Abstract]  
Components of Pension Cost
The components of pension cost (income) for VF’s defined benefit plans were as follows:
 
 
Three Months Ended September
 
 
Six Months Ended September
 
 
 
 
 
 
 
 
 
 
 
 
(In thousands)
 
2019
 
 
2018
 
 
2019
 
 
2018
Service cost – benefits earned during the period
 
$
3,410

 
 
$
5,561

 
 
$
6,791

 
 
$
11,785

Interest cost on projected benefit obligations
 
14,743

 
 
15,818

 
 
29,504

 
 
31,831

Expected return on plan assets
 
(23,151
)
 
 
(23,197
)
 
 
(46,329
)
 
 
(47,031
)
Settlement charges
 
519

 
 
1,342

 
 
519

 
 
8,184

Curtailments
 
—

 
 
—

 
 
—

 
 
9,483

Amortization of deferred amounts:
 
 
 
 

 
 
 
 
 
 
Net deferred actuarial losses
 
4,014

 
 
6,655

 
 
8,033

 
 
15,477

Deferred prior service costs (credits)
 
12

 
 
(59
)
 
 
25

 
 
610

Net periodic pension cost (income)
 
$
(453
)
 
 
$
6,120

 
 
$
(1,457
)
 
 
$
30,339


The amounts reported in these disclosures for prior periods have not been segregated between continuing and discontinued operations.
Actuarial Assumptions Used in Valuation
Actuarial assumptions used in the interim valuation were reviewed and revised as appropriate. The discount rate used to determine the pension obligation was as follows:
 
 
September 2019
 
Supplemental defined benefit pension plan
 
3.23
%