| Quarterly Results of Operations (Unaudited) |
|
|
First
Quarter |
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|
Second
Quarter |
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|
Third
Quarter |
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|
Fourth
Quarter |
|
|
Full
Year
|
|
|
|
In thousands, except per
share amounts |
|
|
2013 (a)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenues
|
|
$ |
2,611,869 |
|
|
$ |
2,220,411 |
|
|
$ |
3,297,269 |
|
|
$ |
3,290,099 |
|
|
$ |
11,419,648 |
|
|
Operating income
|
|
|
357,728 |
|
|
|
201,334 |
|
|
|
579,703 |
|
|
|
508,382 |
|
|
|
1,647,147 |
|
|
Net income attributable to
VF Corporation
|
|
|
270,417 |
|
|
|
138,274 |
|
|
|
433,761 |
|
|
|
367,667 |
|
|
|
1,210,119 |
|
|
Earnings per share
attributable to VF Corporation common stockholders:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$ |
0.61 |
|
|
$ |
0.32 |
|
|
$ |
0.99 |
|
|
$ |
0.84 |
|
|
$ |
2.76 |
|
|
Diluted
|
|
|
0.60 |
|
|
|
0.31 |
|
|
|
0.97 |
|
|
|
0.82 |
|
|
|
2.71 |
|
|
Dividends per common
share
|
|
$ |
0.2175 |
|
|
$ |
0.2175 |
|
|
$ |
0.2175 |
|
|
$ |
0.2625 |
|
|
$ |
0.9150 |
|
|
2012 (b)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenues
|
|
$ |
2,556,455 |
|
|
$ |
2,141,786 |
|
|
$ |
3,148,354 |
|
|
$ |
3,033,260 |
|
|
$ |
10,879,855 |
|
|
Operating income
|
|
|
314,102 |
|
|
|
163,985 |
|
|
|
536,892 |
|
|
|
450,288 |
|
|
|
1,465,267 |
|
|
Net income attributable to
VF Corporation (c)
|
|
|
215,216 |
|
|
|
155,297 |
|
|
|
381,318 |
|
|
|
334,168 |
|
|
|
1,085,999 |
|
|
Earnings per share
attributable to VF Corporation common stockholders:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$ |
0.49 |
|
|
$ |
0.36 |
|
|
$ |
0.87 |
|
|
$ |
0.76 |
|
|
$ |
2.47 |
|
|
Diluted
|
|
|
0.48 |
|
|
|
0.35 |
|
|
|
0.86 |
|
|
|
0.75 |
|
|
|
2.43 |
|
|
Dividends per common
share
|
|
$ |
0.1800 |
|
|
$ |
0.1800 |
|
|
$ |
0.1800 |
|
|
$ |
0.2175 |
|
|
$ |
0.7575 |
|
| (a) |
Transaction and restructuring costs related to the acquisition
of Timberland reduced operating results in 2013 as
follows:
|
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|
|
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|
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|
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|
|
|
|
|
|
|
|
|
First
Quarter |
|
|
Second
Quarter |
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|
Third
Quarter |
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|
Fourth
Quarter |
|
|
Full
Year |
|
|
|
In millions, except per
share amounts |
|
|
Operating income
|
|
$ |
2.8 |
|
|
$ |
4.5 |
|
|
$ |
2.8 |
|
|
$ |
0.6 |
|
|
$ |
10.7 |
|
|
Net income
|
|
|
2.2 |
|
|
|
3.8 |
|
|
|
2.2 |
|
|
|
0.6 |
|
|
|
8.8 |
|
|
Earnings per
share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$ |
0.01 |
|
|
$ |
0.01 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
0.02 |
|
|
Diluted
|
|
$ |
0.01 |
|
|
$ |
0.01 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
0.02 |
|
| (b) |
Transaction and restructuring costs related to the acquisition
of Timberland reduced operating results in 2012 as
follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
First
Quarter |
|
|
Second
Quarter |
|
|
Third
Quarter |
|
|
Fourth
Quarter |
|
|
Full
Year |
|
|
|
In millions, except per
share amounts |
|
|
Operating income
|
|
$ |
4.6 |
|
|
$ |
5.0 |
|
|
$ |
14.4 |
|
|
$ |
6.8 |
|
|
$ |
30.8 |
|
|
Net income
|
|
|
3.3 |
|
|
|
3.1 |
|
|
|
11.3 |
|
|
|
10.2 |
|
|
|
27.9 |
|
|
Earnings per
share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$ |
0.01 |
|
|
$ |
0.01 |
|
|
$ |
0.02 |
|
|
$ |
0.02 |
|
|
$ |
0.06 |
|
|
Diluted
|
|
$ |
0.01 |
|
|
$ |
0.01 |
|
|
$ |
0.02 |
|
|
$ |
0.02 |
|
|
$ |
0.06 |
|
| (c) |
The second quarter of 2012 includes a gain on the sale of John
Varvatos Enterprises, Inc. of $35.8 million, net of related income
taxes.
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|