Quarterly report [Sections 13 or 15(d)]

ASSETS HELD-FOR-SALE AND DISCONTINUED OPERATIONS (Tables)

v3.25.3
ASSETS HELD-FOR-SALE AND DISCONTINUED OPERATIONS (Tables)
 6 Months Ended
Sep. 27, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Discontinued Operations and Held-for-Sale Financial Information
The following table presents the assets and liabilities of Dickies at September 2025:
(In thousands) September 2025
Cash and cash equivalents $ 5,000 
Accounts receivable, net 104,972 
Inventories 140,842 
Other current assets 11,346 
Property, plant and equipment, net 27,530 
Intangible assets, net 244,503 
Goodwill (a)
— 
Operating lease right-of-use assets 1,092 
Other assets 1,222 
Total assets held-for-sale $ 536,507 
Current portion of long-term debt $ 1,027 
Accounts payable 24,243 
Accrued liabilities 30,584 
Long-term debt 13,457 
Operating lease liabilities 679 
Other liabilities 510 
Total liabilities held-for-sale $ 70,500 
(a)The Dickies reporting unit goodwill was fully impaired as of the third quarter of Fiscal 2024, and accumulated impairment charges were $61.8 million.
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 September Six Months Ended September
(In thousands)
2025 (a)
2024
2025 (a)
2024
Revenues $ —  $ 101,253  $ —  $ 239,494 
Cost of goods sold —  41,688  —  93,949 
Selling, general and administrative expenses —  50,700  —  108,553 
Impairment of goodwill and intangible assets —  —  —  145,000 
Interest expense, net (b)
—  (16,037) —  (30,767)
Other income (expense), net —  447  —  (17)
Loss from discontinued operations before income taxes —  (6,725) —  (138,792)
Estimated loss on the sale of discontinued operations before income taxes —  (132,538) —  (132,538)
Total loss from discontinued operations before income taxes —  (139,263) —  (271,330)
Income tax expense (benefit) —  11,068  —  (14,140)
Loss from discontinued operations, net of tax $ —  $ (150,331) $ —  $ (257,190)
(a)There was no activity during the three and six months ended September 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 September 2024.
(In thousands) September 2024
Cash and cash equivalents $ 20,188 
Accounts receivable, net 13,066 
Inventories 89,779 
Other current assets 18,910 
Property, plant and equipment, net 36,166 
Intangible assets, net 801,000 
Goodwill 724,800 
Operating lease right-of-use assets 86,465 
Other assets 19,157 
Deferred income tax assets (a)
(86,009)
Allowance to reduce assets to estimated fair value, less costs to sell (132,538)
Total assets of discontinued operations $ 1,590,984 
Accounts payable $ 27,665 
Accrued liabilities 38,872 
Operating lease liabilities 78,723 
Other liabilities 2,531 
Total liabilities of discontinued operations $ 147,791 
(a)Deferred income tax balances reflect VF’s consolidated netting by jurisdiction.