Quarterly report [Sections 13 or 15(d)]

PENSION PLANS

v3.26.1
PENSION PLANS
 3 Months Ended
Jun. 27, 2026
Retirement Benefits [Abstract]  
PENSION PLANS PENSION PLANS
The components of pension cost for VF’s defined benefit plans were as follows:
  Three Months Ended June
(In thousands) 2026 2025
Service cost – benefits earned during the period $ 2,186  $ 2,513 
Interest cost on projected benefit obligations 1,751  11,147 
Expected return on plan assets (1,465) (15,007)
Curtailments —  (531)
Amortization of deferred amounts:
Net deferred actuarial losses 310  4,871 
Deferred prior service credits (159) (153)
Net periodic pension cost $ 2,623  $ 2,840 

In May 2025, VF executed a resolution to terminate the U.S. qualified pension plan, which was previously frozen and no longer accruing benefits. In February 2026, the Company completed the termination of the plan through a combination of lump-sum payments to eligible participants and the purchase of group annuity contracts to settle the remaining benefit obligations.
VF has reported the service cost component of net periodic pension cost in operating loss and the other components, which include interest cost, expected return on plan assets, curtailments and amortization of deferred actuarial losses and prior service credits, in the other income (expense), net line item in the Consolidated Statements of Operations.
VF contributed $1.3 million to its defined benefit plans during the three months ended June 2026, and intends to make approximately $13.5 million of contributions during the remainder of Fiscal 2027.
VF recorded $0.5 million in curtailment gains in the other income (expense), net line item in the Consolidated Statement of Operations for the three months ended June 2025, related to employee exits from an international plan resulting from restructuring actions.