|
Business Segment Information (Tables)
|
12 Months Ended |
|
Dec. 29, 2012
|
| Financial Information for Reportable Segments |
Financial
information for VF’s reportable segments is as
follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
2012 |
|
|
2011 |
|
|
2010 |
|
| |
|
In
thousands |
|
|
Coalition
revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outdoor & Action
Sports
|
|
$ |
5,866,071 |
|
|
$ |
4,561,998 |
|
|
$ |
3,204,657 |
|
|
Jeanswear
|
|
|
2,789,293 |
|
|
|
2,731,770 |
|
|
|
2,537,591 |
|
|
Imagewear
|
|
|
1,075,677 |
|
|
|
1,025,214 |
|
|
|
909,402 |
|
|
Sportswear
|
|
|
577,317 |
|
|
|
543,515 |
|
|
|
497,773 |
|
|
Contemporary
Brands
|
|
|
445,960 |
|
|
|
485,142 |
|
|
|
438,741 |
|
|
Other
|
|
|
125,537 |
|
|
|
111,593 |
|
|
|
114,425 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenues
|
|
$ |
10,879,855 |
|
|
$ |
9,459,232 |
|
|
$ |
7,702,589 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Coalition
profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outdoor & Action
Sports(a)
|
|
$ |
1,019,425 |
|
|
$ |
828,228 |
|
|
$ |
636,720 |
|
|
Jeanswear
|
|
|
466,960 |
|
|
|
413,187 |
|
|
|
431,942 |
|
|
Imagewear
|
|
|
145,053 |
|
|
|
145,655 |
|
|
|
111,174 |
|
|
Sportswear
|
|
|
72,978 |
|
|
|
56,312 |
|
|
|
52,354 |
|
|
Contemporary
Brands
|
|
|
49,182 |
|
|
|
35,860 |
|
|
|
14,046 |
|
|
Other
|
|
|
(232 |
) |
|
|
(1,024 |
) |
|
|
(61 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total coalition
profit
|
|
|
1,753,366 |
|
|
|
1,478,218 |
|
|
|
1,246,175 |
|
|
Impairment of goodwill and
trademarks(b)
|
|
|
— |
|
|
|
— |
|
|
|
(201,738 |
) |
|
Corporate and other
expenses(a)
|
|
|
(241,239 |
) |
|
|
(240,675 |
) |
|
|
(218,823 |
) |
|
Interest, net
|
|
|
(90,252 |
) |
|
|
(72,800 |
) |
|
|
(75,402 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before income
taxes
|
|
$ |
1,421,875 |
|
|
$ |
1,164,743 |
|
|
$ |
750,212 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (a) |
2012 amounts included $30.8 million of expenses related to the
acquisition of Timberland, reported in: Outdoor & Action
Sports — $22.1 million and Corporate — $8.7 million.
2011 related amounts included $33.5 million of expenses reported
in: Outdoor & Action Sports — $23.7 million and
Corporate — $9.8 million.
|
| (b) |
Goodwill and trademark impairment charges totaling $201.7
million in 2010 related to Contemporary Brands. See Notes G and
T.
|
|
| Reconciliation Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
2012 |
|
|
2011 |
|
|
2010 |
|
| |
|
In
thousands |
|
|
Coalition
assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outdoor & Action
Sports
|
|
$ |
1,944,822 |
|
|
$ |
1,762,774 |
|
|
$ |
954,441 |
|
|
Jeanswear
|
|
|
870,302 |
|
|
|
898,733 |
|
|
|
841,865 |
|
|
Imagewear
|
|
|
341,588 |
|
|
|
356,782 |
|
|
|
319,179 |
|
|
Sportswear
|
|
|
131,393 |
|
|
|
128,823 |
|
|
|
127,567 |
|
|
Contemporary
Brands
|
|
|
172,564 |
|
|
|
195,528 |
|
|
|
181,399 |
|
|
Other
|
|
|
66,774 |
|
|
|
63,262 |
|
|
|
61,065 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total coalition
assets
|
|
|
3,527,443 |
|
|
|
3,405,902 |
|
|
|
2,485,516 |
|
|
Cash and
equivalents
|
|
|
597,461 |
|
|
|
341,228 |
|
|
|
792,239 |
|
|
Intangible assets and
goodwill
|
|
|
4,926,815 |
|
|
|
4,981,923 |
|
|
|
2,657,563 |
|
|
Deferred income
taxes
|
|
|
167,685 |
|
|
|
136,021 |
|
|
|
106,743 |
|
|
Corporate assets
|
|
|
413,617 |
|
|
|
448,052 |
|
|
|
415,495 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated
assets
|
|
$ |
9,633,021 |
|
|
$ |
9,313,126 |
|
|
$ |
6,457,556 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital
expenditures:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outdoor & Action
Sports
|
|
$ |
155,522 |
|
|
$ |
90,381 |
|
|
$ |
49,658 |
|
|
Jeanswear
|
|
|
67,239 |
|
|
|
21,076 |
|
|
|
19,906 |
|
|
Imagewear
|
|
|
4,967 |
|
|
|
5,318 |
|
|
|
2,843 |
|
|
Sportswear
|
|
|
5,279 |
|
|
|
5,902 |
|
|
|
3,770 |
|
|
Contemporary
Brands
|
|
|
6,766 |
|
|
|
16,534 |
|
|
|
10,975 |
|
|
Other
|
|
|
5,418 |
|
|
|
5,370 |
|
|
|
5,627 |
|
|
Corporate
|
|
|
6,749 |
|
|
|
26,313 |
|
|
|
18,861 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
251,940 |
|
|
$ |
170,894 |
|
|
$ |
111,640 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and
amortization expense:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outdoor & Action
Sports
|
|
$ |
114,483 |
|
|
$ |
83,559 |
|
|
$ |
62,563 |
|
|
Jeanswear
|
|
|
39,520 |
|
|
|
41,207 |
|
|
|
34,304 |
|
|
Imagewear
|
|
|
11,733 |
|
|
|
11,513 |
|
|
|
12,055 |
|
|
Sportswear
|
|
|
11,639 |
|
|
|
12,072 |
|
|
|
12,155 |
|
|
Contemporary
Brands
|
|
|
24,915 |
|
|
|
26,590 |
|
|
|
32,864 |
|
|
Other
|
|
|
5,517 |
|
|
|
4,122 |
|
|
|
3,638 |
|
|
Corporate
|
|
|
30,149 |
|
|
|
19,672 |
|
|
|
15,817 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
237,956 |
|
|
$ |
198,735 |
|
|
$ |
173,396 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Supplemental Information (with Revenues by Geographic Area Based on Location of Customer) |
Supplemental
information (with revenues by geographic area based on the location
of the customer) is as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
2012 |
|
|
2011 |
|
|
2010 |
|
| |
|
In
thousands |
|
|
Total revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States
|
|
$ |
6,903,269 |
|
|
$ |
6,220,933 |
|
|
$ |
5,411,533 |
|
|
Foreign, primarily
Europe
|
|
|
3,976,586 |
|
|
|
3,238,299 |
|
|
|
2,291,056 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
10,879,855 |
|
|
$ |
9,459,232 |
|
|
$ |
7,702,589 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, plant and
equipment:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United States
|
|
$ |
513,282 |
|
|
$ |
521,838 |
|
|
$ |
446,718 |
|
|
Foreign, primarily
Europe
|
|
|
314,936 |
|
|
|
215,613 |
|
|
|
156,190 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
828,218 |
|
|
$ |
737,451 |
|
|
$ |
602,908 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|