Annual report pursuant to Section 13 and 15(d)

GOODWILL

v3.23.1
GOODWILL
 12 Months Ended
Apr. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
 GOODWILL GOODWILL
Changes in goodwill are summarized by reportable segment as follows:
(In thousands) Outdoor Active Work Total
Balance, March 2021 $ 665,278  $ 1,645,769  $ 114,380  $ 2,425,427 
Measurement period adjustment to Supreme acquisition —  (717) —  (717)
Currency translation (4,492) (25,931) (480) (30,903)
Balance, March 2022 660,786  1,619,121  113,900  2,393,807 
Impairment charges —  (394,131) —  (394,131)
Currency translation (6,999) (13,746) (518) (21,263)
Balance, March 2023 $ 653,787  $ 1,211,244  $ 113,382  $ 1,978,413 
During the year ended March 2023, VF recorded impairment charges of $394.1 million related to the Supreme reporting unit, which is part of the Active segment. Refer to Note 23 for additional information on fair value measurements. VF did not record any impairment charges in the years ended March 2022 or 2021 based on the results of its goodwill impairment testing.
Accumulated impairment charges for the Outdoor and Active segments were $323.2 million and $394.1 million as of March
2023, respectively, and $323.2 million for the Outdoor segment as of March 2022.
Goodwill decreased by $0.7 million during the year ended March 2022 due to the net impact of a measurement period adjustment for income tax matters and the final working capital adjustment related to the Supreme acquisition.