|
Capital and Accumulated Other Comprehensive Income (Loss) (Tables)
|
12 Months Ended |
|
Dec. 28, 2013
|
| Shares Held for Deferred Compensation Plans |
In addition, VF
Common Stock is held by the Company’s deferred compensation
plans (Note M) and is treated as treasury shares for financial
reporting purposes, as follows:
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2013 |
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2012 |
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|
2011 |
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In millions, except
share amounts |
|
|
Shares held for deferred
compensation plans
|
|
|
704,104 |
|
|
|
749,824 |
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|
953,100 |
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|
Cost of shares held for
deferred compensation plans
|
|
$ |
8.4 |
|
|
$ |
8.8 |
|
|
$ |
11.0 |
|
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| Deferred Components of Other Comprehensive Income (Loss) Reported, Net of Related Income Taxes, in Accumulated Other Comprehensive Income (Loss) in Stockholders' Equity |
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:
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|
2013 |
|
|
2012 |
|
|
|
In
thousands |
|
|
Foreign currency
translation
|
|
$ |
106,647 |
|
|
$ |
(4,068 |
) |
|
Defined benefit pension
plans
|
|
|
(277,451 |
) |
|
|
(420,538 |
) |
|
Derivative financial
instruments
|
|
|
(41,754 |
) |
|
|
(29,430 |
) |
|
Marketable
securities
|
|
|
838 |
|
|
|
141 |
|
|
|
|
|
|
|
|
|
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|
Accumulated other
comprehensive income (loss)
|
|
$ |
(211,720 |
) |
|
$ |
(453,895 |
) |
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|
|
|
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| Changes in Accumulated Other Comprehensive Income (Loss), Net of Related Taxes |
The changes in
accumulated other comprehensive income (loss), net of related
taxes, are as follows:
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December
2013 |
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Foreign |
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|
Defined |
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|
Derivative |
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Currency |
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|
Benefit |
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|
Financial |
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Marketable |
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Translation |
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Pension
Plans |
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|
Instruments |
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|
Securities |
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Total |
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In
thousands |
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|
Balance, December
2012
|
|
$ |
(4,068 |
) |
|
$ |
(420,538 |
) |
|
$ |
(29,430 |
) |
|
$ |
141 |
|
|
$ |
(453,895 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
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Other comprehensive income
(loss) before reclassifications
|
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|
110,715 |
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|
89,873 |
|
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|
(4,937 |
) |
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|
697 |
|
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|
196,348 |
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Amounts reclassified from
accumulated other comprehensive income (loss)
|
|
|
— |
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53,214 |
|
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|
(7,387 |
) |
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— |
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45,827 |
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Net other comprehensive
income (loss)
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|
110,715 |
|
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|
143,087 |
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(12,324 |
) |
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|
697 |
|
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|
242,175 |
|
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|
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|
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Balance, December
2013
|
|
$ |
106,647 |
|
|
$ |
(277,451 |
) |
|
$ |
(41,754 |
) |
|
$ |
838 |
|
|
$ |
(211,720 |
) |
|
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|
|
|
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| Reclassifications Out of Accumulated Other Comprehensive Income (Loss) |
Reclassifications out of accumulated other comprehensive income
(loss) are as follows:
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Details About
Accumulated Other
Comprehensive Income (Loss) Components
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|
Affected Line Item in the
Consolidated Statements of
Income (Loss)
|
|
December 2013 |
|
| |
|
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In
thousands |
|
|
Amortization of defined
benefit pension plans:
|
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|
|
|
|
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Net deferred actuarial
losses
|
|
(a) |
|
$ |
(85,356 |
) |
|
Deferred prior service
costs
|
|
(a) |
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|
(1,270 |
) |
|
|
|
|
|
|
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Total before tax |
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(86,626 |
) |
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|
Tax benefit (expense) |
|
|
33,412 |
|
|
|
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Net of tax |
|
$ |
(53,214 |
) |
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|
|
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Gains (losses) on
derivative financial instruments:
|
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|
|
|
|
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Foreign exchange
contracts
|
|
Net sales |
|
$ |
12,917 |
|
|
Foreign exchange
contracts
|
|
Cost of goods sold |
|
|
4,208 |
|
|
Foreign exchange
contracts
|
|
Other income (expense), net |
|
|
(1,051 |
) |
|
Interest rate
contracts
|
|
Interest expense |
|
|
(3,905 |
) |
|
|
|
|
|
|
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Total before tax |
|
|
12,169 |
|
|
|
Tax benefit (expense) |
|
|
(4,782 |
) |
|
|
|
|
|
|
|
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Net of tax |
|
|
7,387 |
|
|
|
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|
|
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Total reclassifications for
the year
|
|
Net of tax |
|
$ |
(45,827 |
) |
|
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|
|
|
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|
| (a) |
These accumulated other comprehensive income (loss) components
are included in the computation of net periodic pension cost (see
Note M for additional details).
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|