Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS

v3.22.1
INTANGIBLE ASSETS
 12 Months Ended
Apr. 02, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS INTANGIBLE ASSETS
(In thousands) Weighted
Average
Amortization
Period		 Amortization
Method		 Cost Accumulated
Amortization		 Net
Carrying
Amount
March 2022
Amortizable intangible assets:
Customer relationships and other 19 years Accelerated $ 264,691  $ 160,988  $ 103,703 
Indefinite-lived intangible assets:
Trademarks and trade names 2,896,648 
Intangible assets, net $ 3,000,351 
(In thousands) Weighted
Average
Amortization
Period		 Amortization
Method		 Cost Accumulated
Amortization		 Net
Carrying
Amount
March 2021
Amortizable intangible assets:
Customer relationships and other 19 years Accelerated $ 277,822  $ 156,181  $ 121,641 
Indefinite-lived intangible assets:
Trademarks and trade names 2,907,904 
Intangible assets, net $ 3,029,545 

The acquired Supreme® trademark was included as an indefinite-lived intangible asset as of March 2021. Refer to Note 3 for additional information.
VF did not record any impairment charges in the year ended March 2022. VF recorded impairment charges of $20.4 million in the year ended March 2021 primarily due to the write-off of certain trademark and customer relationship balances, which
resulted from strategic actions taken by the Company. VF did not record any impairment charges in the year ended March 2020.
Amortization expense for the years ended March 2022, 2021 and 2020 was $15.6 million, $17.5 million and $18.7 million, respectively. Estimated amortization expense for the next five fiscal years is $14.6 million, $14.1 million, $13.6 million, $12.5 million and $12.0 million, respectively.