Annual report pursuant to Section 13 and 15(d)

Quarterly Results Of Operations

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Quarterly Results Of Operations
 12 Months Ended
Dec. 31, 2011
Quarterly Results Of Operations [Abstract]  
Quarterly Results Of Operations

Note X — Quarterly Results of Operations (Unaudited)

 

     First
Quarter		      Second
Quarter		      Third
Quarter		      Fourth
Quarter		      Year  
     In thousands, except per share amounts  

2011 (a)

               

Total revenues

    $ 1,958,799       $ 1,840,123       $ 2,750,071       $ 2,910,239       $ 9,459,232   

Operating income

      274,643         188,671         430,118         351,359         1,244,791   

Net income attributable to VF Corporation

      200,703         129,368         300,700         257,318         888,089   

Earnings per share attributable to VF Corporation common stockholders:

               

Basic

    $ 1.85       $ 1.19       $ 2.74       $ 2.33       $ 8.13   

Diluted

      1.82         1.17         2.69         2.28         7.98   

Dividends per common share

    $ 0.63       $ 0.63       $ 0.63       $ 0.72       $ 2.61   

2010 (b)

               

Total revenues

    $ 1,749,879       $ 1,594,104       $ 2,232,367       $ 2,126,239       $ 7,702,589   

Operating income

      223,260         169,524         354,545         73,531         820,860   

Net income attributable to VF Corporation

      163,516         110,835         242,787         54,224         571,362   

Earnings per share attributable to VF Corporation common stockholders:

               

Basic

    $ 1.48       $ 1.02       $ 2.25       $ 0.50       $ 5.25   

Diluted

      1.46         1.00         2.22         0.49         5.18   

Dividends per common share

    $ 0.60       $ 0.60       $ 0.60       $ 0.63       $ 2.43   
     First
Quarter		      Second
Quarter		      Third
Quarter		      Fourth
Quarter		      Year  
     In thousands, except per share amounts  

2009 (c)

               

Total revenues

    $ 1,725,474       $ 1,485,637       $ 2,093,806       $ 1,915,369       $ 7,220,286   

Operating income

      161,448         119,738         317,891         137,740         736,817   

Net income attributable to VF Corporation

      100,939         75,527         217,920         66,885         461,271   

Earnings per share attributable to VF Corporation common stockholders:

               

Basic

    $ 0.92       $ 0.69       $ 1.97       $ 0.61       $ 4.18   

Diluted

      0.91         0.68         1.94         0.60         4.13   

Dividends per common share

    $ 0.59       $ 0.59       $ 0.59       $ 0.60       $ 2.37   

 

(a) Transaction and restructuring costs related to the acquisition of Timberland reduced operating results as follows:

 

     Third
Quarter		      Fourth
Quarter		      Year  
     In millions, except per share amounts  

Operating income

    $ 26.8       $ 6.7       $ 33.5   

Net income

      20.0         4.6         24.6   

Earnings per share:

         

Basic

    $ 0.19       $ 0.04       $ 0.23   

Diluted

      0.18         0.04         0.22   

 

(b) Goodwill and trademark impairment charges in the fourth quarter of 2010 reduced operating results as follows: operating income — $201.7 million; net income — $141.8 million; basic earnings per share — $1.31 ($1.30 for year); and diluted earnings per share — $1.29. See Notes F, G and T.

 

(c) Goodwill and trademark impairment changes in the fourth quarter of 2009 reduced operating results as follows: operating income — $122.0 million; net income — $114.4 million; basic earnings per share — $1.04; and diluted earnings per share — $1.02 ($1.03 for year). See Notes F, G and T.