VF Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Capital and Accumulated Other Comprehensive Income (Loss) (Tables)

Capital and Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Sep. 27, 2014

Shares Held for Deferred Compensation Plans

Balances related to shares held for deferred compensation plans are as follows:


In millions, except share amounts	September 2014		December 2013		September 2013
Shares held for deferred compensation plans		640,404		704,104		705,664
Cost of shares held for deferred compensation plans	$	7.6	$	8.4	$	8.2

Deferred Components of OCI Reported, Net of Related Income Taxes, in Accumulated Other Comprehensive Income (Loss) in Stockholders' Equity

The deferred components of OCI are reported, net of related income taxes, in accumulated other comprehensive income (loss) in stockholders’ equity, as follows:


In thousands	September 2014			December 2013			September 2013
Foreign currency translation	$	(161,259	)	$	106,647		$	55,746
Defined benefit pension plans		(257,962	)		(277,451	)		(381,608	)
Derivative financial instruments		324			(41,754	)		(40,199	)
Marketable securities		662			838			91

Accumulated other comprehensive income (loss)	$	(418,235	)	$	(211,720	)	$	(365,970	)

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:


	Three Months Ended September 2014
In thousands	Foreign Currency Translation			Defined Benefit Pension Plans			Derivative Financial Instruments			Marketable Securities			Total
Balance, June 2014	$	70,525		$	(264,187	)	$	(38,684	)	$	134		$	(232,212	)

Other comprehensive income (loss) before reclassifications		(231,784	)		—			31,171			528			(200,085	)
Amounts reclassified from accumulated other comprehensive income (loss)		—			6,225			7,837			—			14,062

Net other comprehensive income (loss)		(231,784	)		6,225			39,008			528			(186,023	)

Balance, September 2014	$	(161,259	)	$	(257,962	)	$	324		$	662		$	(418,235	)


	Three Months Ended September 2013
In thousands	Foreign Currency Translation			Defined Benefit Pension Plans			Derivative Financial Instruments			Marketable Securities			Total
Balance, June 2013	$	(42,716	)	$	(394,785	)	$	(3,170	)	$	(200	)	$	(440,871	)

Other comprehensive income (loss) before reclassifications		98,462			—			(33,041	)		291			65,712
Amounts reclassified from accumulated other comprehensive income (loss)		—			13,177			(3,988	)		—			9,189

Net other comprehensive income (loss)		98,462			13,177			(37,029	)		291			74,901

Balance, September 2013	$	55,746		$	(381,608	)	$	(40,199	)	$	91		$	(365,970	)


	Nine Months Ended September 2014
In thousands	Foreign Currency Translation			Defined Benefit Pension Plans			Derivative Financial Instruments			Marketable Securities			Total
Balance, December 2013	$	106,647		$	(277,451	)	$	(41,754	)	$	838		$	(211,720	)

Other comprehensive income (loss) before reclassifications		(267,906	)		—			26,457			(176	)		(241,625	)
Amounts reclassified from accumulated other comprehensive income (loss)		—			19,489			15,621			—			35,110

Net other comprehensive income (loss)		(267,906	)		19,489			42,078			(176	)		(206,515	)

Balance, September 2014	$	(161,259	)	$	(257,962	)	$	324		$	662		$	(418,235	)


	Nine Months Ended September 2013
In thousands	Foreign Currency Translation			Defined Benefit Pension Plans			Derivative Financial Instruments			Marketable Securities			Total
Balance, December 2012	$	(4,068	)	$	(420,538	)	$	(29,430	)	$	141		$	(453,895	)

Other comprehensive income (loss) before reclassifications		59,814			—			(1,235	)		(50	)		58,529
Amounts reclassified from accumulated other comprehensive income (loss)		—			38,930			(9,534	)		—			29,396

Net other comprehensive income (loss)		59,814			38,930			(10,769	)		(50	)		87,925

Balance, September 2013	$	55,746		$	(381,608	)	$	(40,199	)	$	91		$	(365,970	)

Reclassifications Out of Accumulated Other Comprehensive Income (Loss)

Reclassifications out of accumulated other comprehensive income (loss) are as follows:


In thousands Details About Accumulated Other	Affected Line Item in the Consolidated Statements of Income	Three Months Ended September						Nine Months Ended September
Comprehensive Income (Loss) Components		2014			2013			2014			2013
Amortization of defined benefit pension plans:

Net deferred actuarial losses	^(a)	$	(9,385	)	$	(21,333	)	$	(28,158	)	$	(64,021	)
Deferred prior service costs	^(a)		(1,361	)		(317	)		(4,085	)		(974	)

	Total before tax		(10,746	)		(21,650	)		(32,243	)		(64,995	)
	Tax benefit (expense)		4,521			8,473			12,754			26,065

	Net of tax	$	(6,225	)	$	(13,177	)	$	(19,489	)	$	(38,930	)

Gains (losses) on derivative financial instruments:
Foreign exchange contracts	Net sales	$	(7,657	)	$	6,195		$	(7,539	)	$	7,418
Foreign exchange contracts	Cost of goods sold		(3,496	)		3,574			(13,199	)		11,115
Foreign exchange contracts	Other income (expense), net		(730	)		(2,218	)		(1,945	)		83
Interest rate contracts	Interest expense		(1,028	)		(980	)		(3,051	)		(2,909	)

	Total before tax		(12,911	)		6,571			(25,734	)		15,707
	Tax benefit (expense)		5,074			(2,583	)		10,113			(6,173	)

	Net of tax	$	(7,837	)	$	3,988		$	(15,621	)	$	9,534

Total reclassifications for the period	Net of tax	$	(14,062	)	$	(9,189	)	$	(35,110	)	$	(29,396	)

^(a)	These accumulated other comprehensive income (loss) components are included in the computation of net periodic pension cost (see Note G for additional details).

- Definition

Tabular disclosure of an equity-based arrangement (such as stock or unit options and stock or unit awards) with an individual employee, which is generally an employment contract between the entity and a selected officer or key employee containing a promise by the employer to pay certain equity-based awards at future dates, sometimes including a period after retirement, upon compliance with stipulated requirements. This type of arrangement is distinguished from broader based employee benefit plans as it is usually tailored to the employee. Disclosure also typically includes the amount of related compensation expense recognized during the reporting period, the number of shares or units issued during the period under such arrangements, and the carrying amount as of the balance sheet date of the related liability.

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