Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS

v3.23.1
INTANGIBLE ASSETS
 12 Months Ended
Apr. 01, 2023
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 2023
Amortizable intangible assets:
Customer relationships and other 19 years Accelerated $ 262,818  $ 173,916  $ 88,902 
Indefinite-lived intangible assets:
Trademarks and trade names 2,553,919 
Intangible assets, net $ 2,642,821 
(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 

During the year ended March 2023, VF recorded impairment charges of $340.9 million related to the Supreme® indefinite-lived trademark intangible asset. Refer to Note 23 for additional information on fair value measurements.
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.
Amortization expense for the years ended March 2023, 2022 and 2021 was $14.1 million, $15.6 million and $17.5 million, respectively. Estimated amortization expense for the next five fiscal years is $13.6 million, $13.0 million, $12.1 million, $11.6 million and $10.7 million, respectively.