Quarterly report [Sections 13 or 15(d)]

REPORTABLE SEGMENT INFORMATION (Tables)

v3.25.4
REPORTABLE SEGMENT INFORMATION (Tables)
 9 Months Ended
Dec. 27, 2025
Segment Reporting [Abstract]  
Schedule of Financial Information for Reportable Segments
Financial information for VF's segments is as follows:
Three Months Ended December 2025
(In thousands) Outdoor Active Total
Reportable segment revenues $ 1,926,008  $ 671,835  $ 2,597,843 
“All Other” revenues
 277,958 
Total revenues 2,875,801 
Less:
Cost of goods sold 818,631  294,120 
Marketing expenses 172,665  67,728 
Other SG&A expenses 529,680  315,145 
Other segment items (a)
2,694  536 
Segment profit (loss) 407,726  (4,622) 403,104 
Impairment of goodwill (30,716)
Corporate and other income (expenses) (b)
10,030 
Interest expense, net (34,611)
“All Other” profit
 15,052 
Income from continuing operations before income taxes $ 362,859 
(a)For each reportable segment, 'Other segment items' include certain foreign currency and hedging gains and losses and other miscellaneous non-operating income and expenses, which are reported in the other income (expense), net line item in the Consolidated Statement of Operations.
(b)An estimated pre-tax gain on the sale of Dickies of $139.1 million was recorded in the other income (expense), net line item in the Consolidated Statement of Operations for the three months ended December 2025. Refer to Note 4 for additional information regarding the divestiture. In addition, a pension settlement charge of $34.0 million related to the termination of the U.S. qualified plan was recorded in the other income (expense), net line item in the Consolidated Statement of Operations for the three months ended December 2025. Refer to Note 11 for additional information regarding the settlement charge.
Three Months Ended December 2024
(In thousands) Outdoor Active Total
Reportable segment revenues $ 1,780,276  $ 716,549  $ 2,496,825 
“All Other” revenues
 337,087 
Total revenues 2,833,912 
Less:
Cost of goods sold 767,302  304,205 
Marketing expenses 148,592  81,137 
Other SG&A expenses 481,368  325,120 
Other segment items (a)
6,141  581 
Segment profit 389,155  6,668  395,823 
Impairment of intangible assets (51,000)
Corporate and other expenses (142,202)
Interest expense, net (36,516)
“All Other” profit
 30,564 
Income from continuing operations before income taxes $ 196,669 
(a)For each reportable segment, 'Other segment items' include certain foreign currency and hedging gains and losses and other miscellaneous non-operating income and expenses, which are reported in the other income (expense), net line item in the Consolidated Statement of Operations.
Nine Months Ended December 2025
(In thousands) Outdoor Active Total
Reportable segment revenues $ 4,401,953  $ 2,132,272  $ 6,534,225 
“All Other” revenues
 904,948 
Total revenues 7,439,173 
Less:
Cost of goods sold 2,027,058  917,255 
Marketing expenses 364,246  185,041 
Other SG&A expenses 1,351,291  913,399 
Other segment items (a)
6,838  1,387 
Segment profit 666,196  117,964  784,160 
Impairment of goodwill (30,716)
Corporate and other expenses (b)
(190,202)
Interest expense, net
(121,940)
“All Other” profit
 63,245 
Income from continuing operations before income taxes $ 504,547 
(a)For each reportable segment, 'Other segment items' include certain foreign currency and hedging gains and losses and other miscellaneous non-operating income and expenses, which are reported in the other income (expense), net line item in the Consolidated Statement of Operations.
(b)An estimated pre-tax gain on the sale of Dickies of $139.1 million was recorded in the other income (expense), net line item in the Consolidated Statement of Operations for the nine months ended December 2025. Refer to Note 4 for additional information regarding the divestiture. In addition, a pension settlement charge of $34.0 million related to the termination of the U.S. qualified plan was recorded in the other income (expense), net line item in the Consolidated Statement of Operations for the nine months ended December 2025. Refer to Note 11 for additional information regarding the settlement charge.
Nine Months Ended December 2024
(In thousands) Outdoor Active Total
Reportable segment revenues $ 4,100,628  $ 2,317,819  $ 6,418,447 
“All Other” revenues
 942,473 
Total revenues 7,360,920 
Less:
Cost of goods sold 1,952,221  969,797 
Marketing expenses 319,774  223,154 
Other SG&A expenses 1,240,957  953,850 
Other segment items (a)
6,730  566 
Segment profit 594,406  171,584  765,990 
Impairment of intangible assets (51,000)
Corporate and other expenses (395,959)
Interest expense, net (b)
(120,151)
“All Other” profit
 62,891 
Income from continuing operations before income taxes $ 261,771 
(a)For each reportable segment, 'Other segment items' include certain foreign currency and hedging gains and losses and other miscellaneous non-operating income and expenses, which are reported in the other income (expense), net line item in the Consolidated Statement of Operations.
(b)Interest expense and the related interest rate swap impact for the DDTL, which totaled $31.1 million for the nine months ended December 2024, were allocated to discontinued operations due to the requirement within the DDTL's amended agreement that the DDTL be prepaid upon the receipt of the net cash proceeds from the sale of Supreme.
Schedule of Reconciliation of Assets from Segment to Consolidated
(In thousands) December 2025 March 2025 December 2024
Segment assets:
Outdoor $ 1,949,115  $ 1,552,908  $ 1,784,335 
Active 769,821  860,128  781,921 
All Other 335,811  507,223  534,384 
Corporate and other 19,837  28,429  37,163 
Total segment assets 3,074,584  2,948,688  3,137,803 
Cash and cash equivalents 1,466,469  429,382  1,369,376 
Property, plant and equipment, net 687,504  720,879  718,481 
Goodwill and intangible assets, net 2,066,278  2,314,093  2,341,101 
Operating lease right-of-use assets 1,364,407  1,262,319  1,268,425 
Other assets 1,772,387  1,702,175  1,719,036 
Consolidated assets $ 10,431,629  $ 9,377,536  $ 10,554,222 
Schedule of Reconciliation of Capital Expenditures and Depreciation and Amortization Expense
Three Months Ended December Nine Months Ended December
(In thousands) 2025 2024 2025 2024
Depreciation and amortization:
Outdoor $ 25,700  $ 23,604  $ 77,821  $ 72,163 
Active 15,201  14,319  41,522  41,994 
All Other 1,892  4,859  14,166  15,417 
Corporate and other 36,089  17,290  79,537  56,894 
$ 78,882  $ 60,072  $ 213,046  $ 186,468