Quarterly report [Sections 13 or 15(d)]

DISCONTINUED OPERATIONS (Tables)

v3.25.2
DISCONTINUED OPERATIONS (Tables)
 3 Months Ended
Jun. 28, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Discontinued Operations Presented in Financial Statements
The following table summarizes the major line items for Supreme that are included in the loss from discontinued operations, net of tax line item in the Consolidated Statements of Operations:
  Three Months Ended June
(In thousands)
2025 (a)
2024
Revenues $ —  $ 138,241 
Cost of goods sold —  52,261 
Selling, general and administrative expenses —  57,853 
Impairment of goodwill and intangible assets —  145,000 
Interest expense, net (b)
—  (14,730)
Other income (expense), net —  (464)
Loss from discontinued operations before income taxes —  (132,067)
Income tax benefit —  (25,208)
Loss from discontinued operations, net of tax $ —  $ (106,859)
(a)There was no activity during the three months ended June 2025.
(b)As noted above, interest expense and the related interest rate swap impact for the DDTL were allocated to discontinued operations.
The following table summarizes the carrying amounts of major classes of assets and liabilities of discontinued operations as of June 2024.
(In thousands) June 2024
Cash and cash equivalents $ 11,984 
Accounts receivable, net 6,203 
Inventories 50,870 
Other current assets 25,867 
Property, plant and equipment, net 34,401 
Intangible assets, net 801,000 
Goodwill 717,562 
Operating lease right-of-use assets 72,047 
Other assets 18,790 
Deferred income tax assets (a)
(80,692)
Total assets of discontinued operations $ 1,658,032 
Accounts payable $ 21,519 
Accrued liabilities 41,405 
Operating lease liabilities 67,232 
Other liabilities 2,417 
Total liabilities of discontinued operations $ 132,573 
(a)Deferred income tax balances reflect VF’s consolidated netting by jurisdiction.