Quarterly report [Sections 13 or 15(d)]

CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS

v3.25.2
CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS
3 Months Ended
Jun. 28, 2025
Equity [Abstract]  
CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS
Common Stock
During the three months ended June 2025, the Company did not purchase shares of Common Stock in open market transactions under its share repurchase program authorized by VF’s Board of Directors. These are treated as treasury stock transactions when shares are repurchased.
Common Stock outstanding is net of shares held in treasury which are, in substance, retired. There were no shares held in treasury at the end of June 2025, March 2025 or June 2024. The excess of the cost of treasury shares acquired over the $0.25 per share stated value of Common Stock is deducted from retained earnings (accumulated deficit).
Accumulated Other Comprehensive Loss
Comprehensive loss consists of net loss and specified components of other comprehensive income (loss), which relate to changes in assets and liabilities that are not included in net loss under GAAP but are instead deferred and accumulated within a separate component of stockholders’ equity in the balance sheet. VF’s comprehensive loss is presented in the Consolidated Statements of Comprehensive Loss. The deferred components of other comprehensive income (loss) are reported, net of related income taxes, in accumulated other comprehensive loss ("OCL") in stockholders’ equity, as follows:
(In thousands) June 2025 March 2025 June 2024
Foreign currency translation and other $ (763,627) $ (821,189) $ (887,892)
Defined benefit pension plans (176,910) (180,047) (178,701)
Derivative financial instruments (96,887) 23,496  12,966 
Accumulated other comprehensive loss $ (1,037,424) $ (977,740) $ (1,053,627)
The changes in accumulated OCL, net of related taxes, were as follows:
  Three Months Ended June 2025
(In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total
Balance, March 2025 $ (821,189) $ (180,047) $ 23,496  $ (977,740)
Other comprehensive income (loss) before reclassifications
57,562  10  (109,312) (51,740)
Amounts reclassified from accumulated other comprehensive loss
—  3,127  (11,071) (7,944)
Net other comprehensive income (loss)
57,562  3,137  (120,383) (59,684)
Balance, June 2025 $ (763,627) $ (176,910) $ (96,887) $ (1,037,424)
  Three Months Ended June 2024
(In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total
Balance, March 2024 $ (868,439) $ (182,333) $ (13,559) $ (1,064,331)
Other comprehensive income (loss) before reclassifications
(19,453) (10) 15,785  (3,678)
Amounts reclassified from accumulated other comprehensive loss
—  3,642  10,740  14,382 
Net other comprehensive income (loss)
(19,453) 3,632  26,525  10,704 
Balance, June 2024 $ (887,892) $ (178,701) $ 12,966  $ (1,053,627)
Reclassifications out of accumulated OCL were as follows:
(In thousands) Three Months Ended June
Details About Accumulated Other Comprehensive Loss Components Affected Line Item in the Consolidated Statements of Operations
2025 2024
Amortization of defined benefit pension plans:
Net deferred actuarial losses
Other income (expense), net $ (4,871) $ (5,046)
Deferred prior service credits
Other income (expense), net 153  144 
Pension curtailment gains
Other income (expense), net 531  — 
Total before tax
(4,187) (4,902)
Income tax effect
1,060  1,260 
Net of tax
(3,127) (3,642)
Gains (losses) on derivative financial instruments:
Foreign exchange contracts
Revenues (1,971) (4,331)
Foreign exchange contracts
Cost of goods sold 15,034  (10,126)
Foreign exchange contracts
SG&A expenses (261) (408)
Foreign exchange contracts
Other income (expense), net 476  (56)
Interest rate contracts
Interest expense 27  27 
Interest rate contracts
Loss from discontinued operations, net of tax —  1,165 
Total before tax
13,305  (13,729)
Income tax effect
(2,234) 2,989 
Net of tax
11,071  (10,740)
Total reclassifications for the period, net of tax $ 7,944  $ (14,382)