Quarterly report [Sections 13 or 15(d)]

REPORTABLE SEGMENT INFORMATION

v3.26.3
REPORTABLE SEGMENT INFORMATION
 6 Months Ended
Sep. 26, 2026
Segment Reporting [Abstract]  
REPORTABLE SEGMENT INFORMATION REPORTABLE SEGMENT INFORMATION
VF’s President and CEO is the Company’s chief operating decision maker (“CODM”). The Company’s individual global brands, or in certain cases the combination of global brands, have been determined to be operating segments. The operating segments have been evaluated and aggregated into reportable segments because they meet the similar economic characteristics and qualitative aggregation criteria set forth in the relevant accounting guidance. Based on this assessment, the Company’s reportable segments have been identified as: Outdoor and Active. In addition, VF reports results for an “All
Other” category to reconcile between the Company’s reportable segments and its consolidated results of operations and assets. “All Other” includes the following brands: Dickies® (through the date of sale), Altra®, Smartwool®, Napapijri® and Icebreaker®, which do not meet the quantitative threshold to be disclosed as a separate reportable segment.
The results of Dickies have been included in the “All Other” category through the November 12, 2025 date of sale.
Below is a description of VF’s reportable segments and the brands included within each:
REPORTABLE SEGMENT BRANDS
Outdoor - Outdoor apparel, footwear and equipment
The North Face®
Timberland®
Active - Active apparel, footwear and accessories
Vans®
Kipling®
Eastpak®
JanSport®
All Other - included in the tables below for purposes of reconciliation of revenues, profit and assets, but it is not considered a reportable segment. “All Other” includes the following brands: Dickies® (through the date of sale), Altra®, Smartwool®, Napapijri® and Icebreaker®.

The primary financial measures used by the CODM to assess performance and allocate resources to VF’s segments are segment revenues and segment profit. Segment profit comprises the operating income (loss) and other income (expense), net line items of each segment. Segment revenues and segment profit are regularly reviewed by the CODM and compared against historical results, forecast and budget information in order to make decisions about how to allocate capital and other resources to each segment.
Corporate costs (other than common costs allocated to the segments), goodwill and indefinite-lived intangible asset impairment charges and net interest expense are not controlled by segment management and therefore are excluded from the measurement of segment profit. Common costs such as information systems processing, retirement benefits and insurance are allocated from corporate costs to the segments based on appropriate metrics such as usage or employment. Corporate costs that are not allocated to the segments consist of corporate headquarters expenses (including compensation and benefits of corporate management and staff, certain legal and professional fees and administrative and general costs), costs of
corporate programs or corporate-managed decisions, and other expenses which include a portion of defined benefit pension costs, development costs for management information systems, costs of registering, maintaining and enforcing certain of VF’s trademarks and miscellaneous consolidated costs. Defined benefit pension plans in the U.S. are centrally managed. The current year service cost component of pension cost is allocated to the segments, while the remaining pension cost components are reported in corporate and other expenses.
Segment assets are those used directly in or resulting from the operations of each business, which are accounts receivable and inventories. Segment assets included in the “All Other” category represent accounts receivable and inventory balances related to the brands included within the “All Other” category as noted above and segment assets included in the “Corporate and other” category represent receivable balances primarily related to corporate activities, and both are provided for purposes of reconciliation as they are not considered reportable segments. Total expenditures for additions to long-lived assets are not disclosed as this information is not regularly provided to the CODM at the segment level.
Financial information for VF’s segments is as follows:
Three Months Ended September 2026
(In thousands) Outdoor Active Total
Reportable segment revenues $ 1,733,182  $ 700,262  $ 2,433,444 
“All Other” revenues
 261,688 
Total revenues 2,695,132 
Less:
Cost of goods sold 791,909  287,452 
Marketing expenses 130,393  61,162 
Other SG&A expenses 449,070  301,428 
Other segment items (a)
395  47 
Segment profit 362,205  50,267  412,472 
Corporate and other expenses (74,563)
Interest expense, net (23,693)
“All Other” profit
 32,715 
Income before income taxes $ 346,931 
(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.
Three Months Ended September 2025
(In thousands) Outdoor Active Total
Reportable segment revenues $ 1,663,479  $ 760,750  $ 2,424,229 
“All Other” revenues
 378,477 
Total revenues 2,802,706 
Less:
Cost of goods sold 822,350  324,366 
Marketing expenses 119,990  64,196 
Other SG&A expenses 423,058  306,974 
Other segment items (a)
2,659  534 
Segment profit 300,740  65,748  366,488 
Corporate and other expenses (95,672)
Interest expense, net (46,209)
“All Other” profit
 43,674 
Income before income taxes $ 268,281 
(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.
Six Months Ended September 2026
(In thousands) Outdoor Active Total
Reportable segment revenues $ 2,590,161  $ 1,367,565  $ 3,957,726 
“All Other” revenues
 406,785 
Total revenues 4,364,511 
Less:
Cost of goods sold 1,197,781  566,068 
Marketing expenses 214,373  117,252 
Other SG&A expenses 858,379  586,692 
Other segment items (a)
959  123 
Segment profit 320,587  97,676  418,263 
Corporate and other expenses
(147,191)
Interest expense, net
(48,304)
“All Other” profit
 17,271 
Income before income taxes $ 240,039 
(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.
Six Months Ended September 2025
(In thousands) Outdoor Active Total
Reportable segment revenues $ 2,475,945  $ 1,460,437  $ 3,936,382 
“All Other” revenues
 626,990 
Total revenues 4,563,372 
Less:
Cost of goods sold 1,208,427  623,135 
Marketing expenses 191,581  117,313 
Other SG&A expenses 821,611  598,254 
Other segment items (a)
4,144  851 
Segment profit 258,470  122,586  381,056 
Corporate and other expenses (200,232)
Interest expense, net
(87,329)
“All Other” profit
 48,193 
Income before income taxes $ 141,688 
(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.
(In thousands) September 2026 March 2026 September 2025
Segment assets:
Outdoor $ 2,601,498  $ 1,634,714  $ 2,454,730 
Active 817,707  800,316  894,891 
All Other 400,333  306,730  370,102 
Corporate and other 50,594  57,471  17,770 
Total segment assets 3,870,132  2,799,231  3,737,493 
Cash and cash equivalents 442,951  823,943  419,115 
Property, plant and equipment, net 676,471  674,508  688,478 
Goodwill and intangible assets, net 2,046,701  2,055,247  2,096,460 
Operating lease right-of-use assets 1,334,532  1,320,733  1,347,097 
Other assets 1,587,334  1,616,515  1,818,974 
Assets held-for-sale —  —  536,507 
Consolidated assets $ 9,958,121  $ 9,290,177  $ 10,644,124 
Three Months Ended September Six Months Ended September
(In thousands) 2026 2025 2026 2025
Depreciation and amortization:
Outdoor $ 21,893  $ 26,147  $ 49,124  $ 52,121 
Active 11,986  12,943  24,614  26,321 
All Other 7,933  7,332  10,442  12,274 
Corporate and other 16,545  23,380  31,963  43,448 
$ 58,357  $ 69,802  $ 116,143  $ 134,164