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

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

REPORTABLE SEGMENT INFORMATION (Tables)

REPORTABLE SEGMENT INFORMATION (Tables)

12 Months Ended

Mar. 29, 2025

Schedule of Financial Information for Reportable Segments

Financial information for VF’s reportable segments is as follows:


	Year Ended March 2025
(In thousands)	Outdoor		Active		Work		Total
Revenues	$	5,576,301	$	3,095,292	$	833,098	$	9,504,691
Less:
Cost of goods sold	2,627,678		1,312,186		479,116
SG&A expenses	2,238,974		1,631,356		301,753
Other segment items (a)	14,748		1,092		918
Segment profit	724,397		152,842		53,147		930,386
Impairment of goodwill and indefinite-lived intangible assets							(89,242)
Corporate and other expenses							(546,740)
Interest expense, net (b)							(149,243)
Income from continuing operations before income taxes							$	145,161

(a)For each reportable segment, 'Other segment items' includes insurance recoveries, certain foreign currency and hedging gains and losses and other miscellaneous non-operating income and expenses, which are reported in the other income (expense), net line item in the Consolidated Statement of Operations.

(b)Interest expense and the related interest rate swap impact for the DDTL, which totaled $31.1 million for the year ended March 2025, were allocated to discontinued operations due to the requirement within the DDTL's amended agreement that the DDTL be prepaid upon the receipt of the net cash proceeds from the sale of Supreme.


	Year Ended March 2024
(In thousands)	Outdoor		Active		Work		Total
Revenues	$	5,501,399	$	3,522,740	$	891,539	$	9,915,678
Less:
Cost of goods sold	2,725,279		1,526,110		549,459
SG&A expenses	2,174,041		1,788,074		324,488
Other segment items (a)	629		28,973		55
Segment profit	602,708		237,529		17,647		857,884
Impairment of goodwill							(507,566)
Corporate and other expenses							(469,560)
Interest expense, net (b)							(165,679)
Loss from continuing operations before income taxes							$	(284,921)

(a)For each reportable segment, 'Other segment items' includes certain foreign currency and hedging gains and losses and other miscellaneous non-operating income and expenses. For the Active reportable segment, 'Other segment items' also includes legal settlement gains of $29.1 million. These are all reported in the other income (expense), net line item in the Consolidated Statement of Operations.

(b)Interest expense and the related interest rate swap impact for the DDTL, which totaled $59.1 million for the year ended March 2024, were allocated to discontinued operations due to the requirement within the DDTL's amended agreement that the DDTL be prepaid upon the receipt of the net cash proceeds from the sale of Supreme.


	Year Ended March 2023
(In thousands)	Outdoor		Active		Work		Total
Segment revenues	$	5,647,526	$	4,381,506	$	1,060,179	$	11,089,211
Other revenues							148
Total revenues							11,089,359
Less:
Cost of goods sold	2,832,821		1,850,371		601,148
SG&A expenses	2,024,617		1,954,213		337,596
Other segment items (a)	(4,657)		(1,376)		(278)
Segment profit	785,431		575,546		121,157		1,482,134
Other profit (loss)							(536)

Corporate and other expenses							(600,148)
Interest expense, net (b)							(143,660)
Income from continuing operations before income taxes							$	737,790

(a)For each reportable segment, 'Other segment items' includes certain foreign currency and hedging gains and losses and other miscellaneous non-operating income and expenses which are reported in the other income (expense), net line item in the Consolidated Statement of Operations.

(b)Interest expense and the related interest rate swap impact for the DDTL, which totaled $21.9 million for the year ended March 2023, were allocated to discontinued operations due to the requirement within the DDTL's amended agreement that the DDTL be prepaid upon the receipt of the net cash proceeds from the sale of Supreme.

Schedule of Reconciliation of Assets from Segment to Consolidated


(In thousands)	March 2025		March 2024		March 2023
Segment assets:
Outdoor	$	1,592,896	$	1,544,364	$	1,936,090
Active	934,768		955,535		1,271,590
Work	392,595		452,384		610,798
Other	28,429		8,869		15,055
Total segment assets	2,948,688		2,961,152		3,833,533
Cash and cash equivalents	429,382		656,376		799,441

Property, plant and equipment, net	720,879		788,992		910,938
Goodwill and intangible assets, net	2,314,093		2,421,838		2,946,391
Operating lease right-of-use assets	1,262,319		1,255,074		1,306,199
Other assets	1,702,175		1,703,664		2,288,643
Assets of discontinued operations	—		1,825,867		1,905,343
Consolidated assets	$	9,377,536	$	11,612,963	$	13,990,488

Schedule of Reconciliation of Capital Expenditures and Depreciation and Amortization Expense


	Year Ended March

(In thousands)	2025		2024		2023
Depreciation, amortization and other asset write-downs:
Outdoor	$	106,732	$	103,586	$	94,448
Active	62,074		81,911		70,708
Work	14,736		13,620		12,524
Other	76,074		108,411		74,246
	$	259,616	$	307,528	$	251,926

Schedule of Supplemental Information (with Revenues by Geographic Area Based on the Origin of Shipment)

Supplemental information (with revenues by geographic area primarily based on the origin of the shipment) is as follows:


	Year Ended March

(In thousands)	2025		2024		2023
Total revenues:
U.S.	$	4,257,971	$	4,550,988	$	5,733,168
Foreign	5,246,720		5,364,690		5,356,191
	$	9,504,691	$	9,915,678	$	11,089,359
Property, plant and equipment:
U.S.	$	513,627	$	574,637
Foreign	207,252		214,355
	$	720,879	$	788,992