Annual report [Section 13 and 15(d), not S-K Item 405]

OTHER LIABILITIES

v3.25.1
OTHER LIABILITIES
 12 Months Ended
Mar. 29, 2025
Other Liabilities Disclosure [Abstract]  
OTHER LIABILITIES OTHER LIABILITIES
(In thousands) March 2025 March 2024
Income taxes $ 417,186  $ 355,576 
Pension liabilities (Note 17)
 77,688  78,628 
Deferred compensation (Note 17)
 63,007  81,103 
Product warranty claims 49,885  48,373 
Deferred income taxes (Note 20)
 14,551  9,972 
Derivative financial instruments (Note 25)
 10,193  4,656 
Other 54,982  57,782 
Other liabilities $ 687,492  $ 636,090 
 
VF accrues warranty costs, as cost of goods sold, at the time revenue is recognized. Product warranty costs are estimated based on historical experience and specific identification of the product requirements, which may fluctuate based on product mix. Activity relating to accrued product warranty claims is summarized as follows:
Year Ended March
(In thousands) 2025 2024 2023
Balance, beginning of year $ 61,266  $ 52,419  $ 53,487 
Accrual for products sold during the year 14,053  22,555  11,086 
Repair or replacement costs incurred and other (12,516) (13,658) (12,024)
Currency translation 10  (50) (130)
Balance, end of year 62,813  61,266  52,419 
Less current portion (Note 14)
 12,928  12,893  11,308 
Long-term portion $ 49,885  $ 48,373  $ 41,111