VF Corporation Annual report [Section 13 and 15(d), not S-K Item 405]

Annual report [Section 13 and 15(d), not S-K Item 405]

REPORTABLE SEGMENT INFORMATION (Tables)

REPORTABLE SEGMENT INFORMATION (Tables)

12 Months Ended

Mar. 28, 2026

Schedule of Financial Information for Reportable Segments

Financial information for VF’s segments was as follows:


	Year Ended March 2026
(In thousands)	Outdoor		Active		Total
Reportable segment revenues	$	5,741,792	$	2,720,967	$	8,462,759
“All Other” revenues					1,142,448
Total revenues					9,605,207
Less:
Cost of goods sold	2,616,156		1,170,484
Marketing expenses	479,790		242,317
Other SG&A expenses	1,811,678		1,206,473
Other segment items (a)	7,032		1,350
Segment profit	841,200		103,043		944,243
Impairment of goodwill					(30,716)
Corporate and other expenses (b)					(511,815)
Interest expense, net					(148,743)
“All Other” profit					88,249
Income from continuing operations before income taxes					$	341,218

(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)A final pre-tax gain on the sale of Dickies of $127.2 million was recorded in the other income (expense), net line item in the Consolidated Statement of Operations for the year ended March 2026. Refer to Note 3 for additional information regarding the divestiture. In addition, a pension settlement charge of $192.1 million and excise taxes of $25.1 million related to the termination of the U.S. qualified plan were recorded in the other income (expense), net line item in the Consolidated Statement of Operations for the year ended March 2026. Refer to Note 17 for additional information regarding the settlement charge and excise taxes.


	Year Ended March 2025
(In thousands)	Outdoor		Active		Total
Reportable segment revenues	$	5,311,061	$	2,914,307	$	8,225,368
“All Other” revenues					1,279,323
Total revenues					9,504,691
Less:
Cost of goods sold	2,522,731		1,229,016
Marketing expenses	416,066		292,395
Other SG&A expenses	1,676,753		1,259,995
Other segment items (a)	13,041		1,095
Segment profit	708,552		133,996		842,548
Impairment of goodwill and indefinite-lived intangible assets					(89,242)
Corporate and other expenses					(546,740)
Interest expense, net (b)					(149,243)
“All Other” profit					87,838
Income from continuing operations before income taxes					$	145,161

(a)For each reportable segment, 'Other segment items' includes insurance recoveries, 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 year ended March 2025, 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.


	Year Ended March 2024
(In thousands)	Outdoor		Active		Total
Reportable segment revenues	$	5,230,287	$	3,327,612	$	8,557,899
“All Other” revenues					1,357,779
Total revenues					9,915,678
Less:
Cost of goods sold	2,594,411		1,436,021
Marketing expenses	421,401		291,925
Other SG&A expenses	1,607,562		1,414,074
Other segment items (a)	592		28,925
Segment profit	607,505		214,517		822,022
Impairment of goodwill					(507,566)

Corporate and other expenses					(469,560)
Interest expense, net (b)					(165,679)
“All Other” profit					35,862
Loss from continuing operations before income taxes					$	(284,921)

(a)For each reportable segment, 'Other segment items' includes certain foreign currency and hedging gains and losses and other miscellaneous non-operating income and expenses. For the Active reportable segment, 'Other segment items' also includes legal settlement gains of $29.1 million. These are all reported in the other income (expense), net line item in the Consolidated Statement of Operation

(b)Interest expense and the related interest rate swap impact for the DDTL, which totaled $59.1 million for the year ended March 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)	March 2026		March 2025		March 2024
Segment assets:
Outdoor	$	1,634,714	$	1,552,908	$	1,512,217
Active	800,316		860,128		879,406
All Other	306,730		507,223		560,660
Corporate and other	57,471		28,429		8,869
Total segment assets	2,799,231		2,948,688		2,961,152
Cash and cash equivalents	823,943		429,382		656,376

Property, plant and equipment, net	674,508		720,879		788,992
Goodwill and intangible assets, net	2,055,247		2,314,093		2,421,838
Operating lease right-of-use assets	1,320,733		1,262,319		1,255,074
Other assets	1,616,515		1,702,175		1,703,664
Assets of discontinued operations	—		—		1,825,867
Consolidated assets	$	9,290,177	$	9,377,536	$	11,612,963

Schedule of Reconciliation of Capital Expenditures and Depreciation and Amortization Expense


	Year Ended March

(In thousands)	2026		2025		2024
Depreciation, amortization and other asset write-downs:
Outdoor	$	105,660	$	103,411	$	99,004
Active	61,218		58,460		78,017
All Other	18,261		21,671		22,096
Corporate and other	95,390		76,074		108,411
	$	280,529	$	259,616	$	307,528

Schedule of Supplemental Information (with Revenues by Geographic Area Based on the Origin of Shipment)

Supplemental information (with revenues by geographic area primarily based on the origin of the shipment) was as follows:


	Year Ended March

(In thousands)	2026		2025		2024
Total revenues:
U.S.	$	4,231,822	$	4,257,971	$	4,550,988
Foreign	5,373,385		5,246,720		5,364,690
	$	9,605,207	$	9,504,691	$	9,915,678
Property, plant and equipment:
U.S.	$	462,716	$	513,627
Foreign	211,792		207,252
	$	674,508	$	720,879