Quarterly report [Sections 13 or 15(d)]

CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS

v3.25.3
CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS
 6 Months Ended
Sep. 27, 2025
Equity [Abstract]  
CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS
Common Stock
During the six months ended September 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 September 2025, March 2025 or September 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 income (loss) consists of net income (loss) and specified components of other comprehensive income (loss), which relate to changes in assets and liabilities that are not included in net income (loss) under GAAP but are instead deferred and accumulated within a separate component of stockholders’ equity in the balance sheet. VF’s comprehensive income (loss) is presented in the Consolidated Statements of Comprehensive Income (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) September 2025 March 2025 September 2024
Foreign currency translation and other $ (770,855) $ (821,189) $ (869,994)
Defined benefit pension plans (174,008) (180,047) (175,087)
Derivative financial instruments (79,178) 23,496  (25,499)
Accumulated other comprehensive loss $ (1,024,041) $ (977,740) $ (1,070,580)
The changes in accumulated OCL, net of related taxes, were as follows:
  Three Months Ended September 2025
(In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total
Balance, June 2025 $ (763,627) $ (176,910) $ (96,887) $ (1,037,424)
Other comprehensive income (loss) before reclassifications
 (7,228) (865) 18,179  10,086 
Amounts reclassified from accumulated other comprehensive loss
 —  3,767  (470) 3,297 
Net other comprehensive income (loss)
 (7,228) 2,902  17,709  13,383 
Balance, September 2025 $ (770,855) $ (174,008) $ (79,178) $ (1,024,041)
  Three Months Ended September 2024
(In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total
Balance, June 2024 $ (887,892) $ (178,701) $ 12,966  $ (1,053,627)
Other comprehensive income (loss) before reclassifications
 17,898  (26) (47,838) (29,966)
Amounts reclassified from accumulated other comprehensive loss
 —  3,640  9,373  13,013 
Net other comprehensive income (loss)
 17,898  3,614  (38,465) (16,953)
Balance, September 2024 $ (869,994) $ (175,087) $ (25,499) $ (1,070,580)
Six Months Ended September 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 50,334  (855) (91,133) (41,654)
Amounts reclassified from accumulated other comprehensive loss —  6,894  (11,541) (4,647)
Net other comprehensive income (loss) 50,334  6,039  (102,674) (46,301)
Balance, September 2025 $ (770,855) $ (174,008) $ (79,178) $ (1,024,041)
Six Months Ended September 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 loss before reclassifications (1,555) (36) (32,053) (33,644)
Amounts reclassified from accumulated other comprehensive loss —  7,282  20,113  27,395 
Net other comprehensive income (loss) (1,555) 7,246  (11,940) (6,249)
Balance, September 2024 $ (869,994) $ (175,087) $ (25,499) $ (1,070,580)
Reclassifications out of accumulated OCL were as follows:
(In thousands) Three Months Ended September Six Months Ended September
Details About Accumulated Other Comprehensive Loss Components Affected Line Item in the Consolidated Statements of Operations
2025 2024 2025 2024
Amortization of defined benefit pension plans:
Net deferred actuarial losses
 Other income (expense), net $ (4,874) $ (5,051) $ (9,745) $ (10,097)
Deferred prior service credits
 Other income (expense), net 158  150  311  294 
Pension settlement charge
 Other income (expense), net (341) —  (341) — 
Pension curtailment gains
 Other income (expense), net —  —  531  — 
Total before tax
 (5,057) (4,901) (9,244) (9,803)
Income tax effect
 1,290  1,261  2,350  2,521 
Net of tax
 (3,767) (3,640) (6,894) (7,282)
Gains (losses) on derivative financial instruments:
Foreign exchange contracts
 Revenues 545  (7,851) (1,426) (12,182)
Foreign exchange contracts
 Cost of goods sold (863) (4,001) 14,171  (14,127)
Foreign exchange contracts
 SG&A expenses (250) (47) (511) (455)
Foreign exchange contracts
 Other income (expense), net 1,074  53  1,550  (3)
Interest rate contracts
 Interest expense 27  27  54  54 
Interest rate contracts
 Loss from discontinued operations, net of tax —  1,134  —  2,299 
Total before tax
 533  (10,685) 13,838  (24,414)
Income tax effect
 (63) 1,312  (2,297) 4,301 
Net of tax
 470  (9,373) 11,541  (20,113)
Total reclassifications for the period, net of tax $ (3,297) $ (13,013) $ 4,647  $ (27,395)