Quarterly report [Sections 13 or 15(d)]

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

v3.25.2
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
3 Months Ended
Jun. 28, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Outstanding Derivatives on Individual Contract Basis
The following table presents outstanding derivatives on an individual contract basis:
  Fair Value of Derivatives
with Unrealized Gains
Fair Value of Derivatives
with Unrealized Losses
(In thousands) June 2025 March 2025 June 2024 June 2025 March 2025 June 2024
Derivatives Designated as Hedging Instruments:
Foreign exchange contracts $ 18,528  $ 32,608  $ 38,160  $ (129,307) $ (29,847) $ (27,436)
Interest rate contracts —  —  1,690  —  —  — 
Total derivatives designated as hedging instruments 18,528  32,608  39,850  (129,307) (29,847) (27,436)
Derivatives Not Designated as Hedging Instruments:
Foreign exchange contracts 128  1,763  1,507  (722) (156) (142)
Total derivatives
$ 18,656  $ 34,371  $ 41,357  $ (130,029) $ (30,003) $ (27,578)
Schedule of Derivative Assets Presented in Consolidated Balance Sheet Adjusted from Current Gross If VF were to offset and record the asset and liability balances on a net basis in accordance with the terms of its master netting agreements, the amounts presented in the Consolidated Balance Sheets would be adjusted from the current gross presentation to the net amounts as detailed in the following table:
  June 2025 March 2025 June 2024
(In thousands) Derivative
Asset
Derivative
Liability
Derivative
Asset
Derivative
Liability
Derivative
Asset
Derivative
Liability
Gross amounts presented in the Consolidated Balance Sheets
$ 18,656  $ (130,029) $ 34,371  $ (30,003) $ 41,357  $ (27,578)
Gross amounts not offset in the Consolidated Balance Sheets
(17,940) 17,940  (13,592) 13,592  (6,699) 6,699 
Net amounts
$ 716  $ (112,089) $ 20,779  $ (16,411) $ 34,658  $ (20,879)
Schedule of Derivative Liabilities Presented in Consolidated Balance Sheet Adjusted from Current Gross If VF were to offset and record the asset and liability balances on a net basis in accordance with the terms of its master netting agreements, the amounts presented in the Consolidated Balance Sheets would be adjusted from the current gross presentation to the net amounts as detailed in the following table:
  June 2025 March 2025 June 2024
(In thousands) Derivative
Asset
Derivative
Liability
Derivative
Asset
Derivative
Liability
Derivative
Asset
Derivative
Liability
Gross amounts presented in the Consolidated Balance Sheets
$ 18,656  $ (130,029) $ 34,371  $ (30,003) $ 41,357  $ (27,578)
Gross amounts not offset in the Consolidated Balance Sheets
(17,940) 17,940  (13,592) 13,592  (6,699) 6,699 
Net amounts
$ 716  $ (112,089) $ 20,779  $ (16,411) $ 34,658  $ (20,879)
Schedule of Derivatives Classified as Current or Noncurrent Based on Maturity Dates
Derivatives are classified as current or noncurrent based on maturity dates, as follows:
(In thousands) June 2025 March 2025 June 2024
Derivative Instruments Balance Sheet Location
Foreign exchange contracts Other current assets $ 14,964  $ 32,290  $ 33,562 
Foreign exchange contracts Accrued liabilities (101,114) (19,810) (24,802)
Foreign exchange contracts Other assets 3,692  2,081  6,105 
Foreign exchange contracts Other liabilities (28,915) (10,193) (2,776)
Interest rate contracts Other current assets —  —  1,690 
Schedule of Effects of Cash Flow Hedging included in Consolidated Statements of Comprehensive Income (Loss) and Consolidated Statements of Operations The effects of cash flow hedging included in VF’s Consolidated Statements of Comprehensive Loss and Consolidated Statements of Operations are summarized as follows:
(In thousands) Gain (Loss) on Derivatives
Recognized in Accumulated OCL
Three Months Ended June
Cash Flow Hedging Relationships 2025 2024
Foreign exchange contracts $ (131,290) $ 19,501 
Interest rate contracts —  520 
Total $ (131,290) $ 20,021 
(In thousands) Gain (Loss) Reclassified from
Accumulated OCL into Net Loss
Three Months Ended June
Cash Flow Hedging Relationships Location of Gain (Loss) 2025 2024
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 $ 13,305  $ (13,729)