Quarterly report pursuant to Section 13 or 15(d)

INTANGIBLE ASSETS

v3.22.4
INTANGIBLE ASSETS
 9 Months Ended
Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
INTANGIBLE ASSETS INTANGIBLE ASSETS
      December 2022 March 2022
(In thousands) Weighted
Average
Amortization
Period		 Amortization
Method		 Cost Accumulated
Amortization		 Net
Carrying
Amount		 Net
Carrying
Amount
Amortizable intangible assets:
Customer relationships and other 19 years Accelerated $ 261,365  $ 169,401  $ 91,964  $ 103,703 
Indefinite-lived intangible assets:
Trademarks and trade names 2,698,548  2,896,648 
Intangible assets, net $ 2,790,512  $ 3,000,351 
During the second quarter of Fiscal 2023, VF performed an interim impairment analysis of the Supreme® indefinite-lived trademark intangible asset and recorded an impairment charge of $192.9 million to reduce the carrying value to fair value. Refer to Note 16 for additional information on fair value measurements.
Amortization expense for the three and nine months ended December 2022 was $3.5 million and $10.6 million, respectively. Based on the carrying amounts of amortizable intangible assets noted above, estimated amortization expense for the next five years beginning in Fiscal 2023 is $14.4 million, $13.9 million, $13.3 million, $12.4 million and $11.9 million, respectively.