Quarterly report pursuant to Section 13 or 15(d)

Capital and Accumulated Other Comprehensive Income (Loss)

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Capital and Accumulated Other Comprehensive Income (Loss)
 9 Months Ended
Sep. 29, 2012
Capital and Accumulated Other Comprehensive Income (Loss)

Note H — Capital and Accumulated Other Comprehensive Income (Loss)

Common Stock outstanding is net of shares held in treasury which are in substance, retired. During the nine months ended September 2012, VF restored 19,000,000 shares of treasury stock to an unissued status. There were 2,524,771 treasury shares at September 2012, 19,289,690 at December 2011 and 19,286,190 at September 2011. The excess of the cost of treasury shares acquired over the $1 per share stated value of Common Stock is deducted from retained earnings. In addition, 187,226 shares of Common Stock at September 2012, 238,275 shares at December 2011 and 235,011 shares at September 2011 were held in connection with deferred compensation plans. These shares, having a cost of $8.6 million, $11.0 million and $10.2 million at the respective dates, are treated as treasury shares for financial reporting purposes.

Comprehensive income includes net income and specified components of other comprehensive income (“OCI”). OCI consists of changes in assets and liabilities that are not included in net income under GAAP but are instead deferred and accumulated within a separate component of stockholders’ equity in the balance sheet. VF’s comprehensive income is presented in the Consolidated Statements of Comprehensive Income. The deferred components of other comprehensive income (loss) are reported, net of related income taxes, in accumulated other comprehensive income (loss) in stockholders’ equity, as follows:

 

In thousands    September
2012		     December
2011		     September
2011		  

Foreign currency translation

    $ (48,135 )    $ (51,159 )    $ (3,391 ) 

Defined benefit pension plans

      (322,596 )      (356,693 )      (244,750 ) 

Derivative financial instruments

      (15,715 )      (14,167 )      (32,491 ) 

Marketable securities

      (407 )      542        666   
  

 

 

    

 

 

    

 

 

  

Accumulated other comprehensive income (loss)

    $ (386,853 )    $ (421,477 )    $ (279,966 )