Quarterly report [Sections 13 or 15(d)]

LEASES

v3.25.4
LEASES
 9 Months Ended
Dec. 27, 2025
Leases [Abstract]  
LEASES LEASES
The Company leases certain retail locations, office space, distribution facilities, machinery and equipment, and vehicles. The substantial majority of these leases are operating leases. Total lease cost includes operating lease cost, variable lease cost, finance lease cost, short-term lease cost, impairments of right-of-use assets and gains recognized from sale leaseback transactions. The components of lease cost were as follows:
Three Months Ended December Nine Months Ended December
(In thousands) 2025 2024 2025 2024
Operating lease cost $ 104,865  $ 99,998  $ 306,330  $ 304,551 
Other lease cost 46,745  46,445  113,950  99,555 
Total lease cost $ 151,610  $ 146,443  $ 420,280  $ 404,106 
During the three and nine months ended December 2025, the Company recorded $4.5 million of impairment charges in the selling, general and administrative (“SG&A”) expenses line item in VF's Consolidated Statements of Operations for impairments of right-of-use assets related to Dickies that were not included in the divestiture.
During the nine months ended December 2024, the Company entered into a sale leaseback transaction for certain warehouse real estate and related assets. The transaction qualified as a
sale, and thus the Company recognized a gain of $15.5 million in the SG&A expenses line item in VF's Consolidated Statement of Operations for the nine months ended December 2024.
During the nine months ended December 2025 and 2024, the Company paid $310.4 million and $314.5 million for operating leases, respectively. During the nine months ended December 2025 and 2024, the Company obtained $332.6 million and $307.8 million of right-of-use assets in exchange for lease liabilities, respectively.
LEASES LEASES
The Company leases certain retail locations, office space, distribution facilities, machinery and equipment, and vehicles. The substantial majority of these leases are operating leases. Total lease cost includes operating lease cost, variable lease cost, finance lease cost, short-term lease cost, impairments of right-of-use assets and gains recognized from sale leaseback transactions. The components of lease cost were as follows:
Three Months Ended December Nine Months Ended December
(In thousands) 2025 2024 2025 2024
Operating lease cost $ 104,865  $ 99,998  $ 306,330  $ 304,551 
Other lease cost 46,745  46,445  113,950  99,555 
Total lease cost $ 151,610  $ 146,443  $ 420,280  $ 404,106 
During the three and nine months ended December 2025, the Company recorded $4.5 million of impairment charges in the selling, general and administrative (“SG&A”) expenses line item in VF's Consolidated Statements of Operations for impairments of right-of-use assets related to Dickies that were not included in the divestiture.
During the nine months ended December 2024, the Company entered into a sale leaseback transaction for certain warehouse real estate and related assets. The transaction qualified as a
sale, and thus the Company recognized a gain of $15.5 million in the SG&A expenses line item in VF's Consolidated Statement of Operations for the nine months ended December 2024.
During the nine months ended December 2025 and 2024, the Company paid $310.4 million and $314.5 million for operating leases, respectively. During the nine months ended December 2025 and 2024, the Company obtained $332.6 million and $307.8 million of right-of-use assets in exchange for lease liabilities, respectively.