Annual report pursuant to Section 13 and 15(d)

Goodwill

v2.4.1.9
Goodwill
 12 Months Ended
Jan. 03, 2015
Goodwill

Note G — Goodwill

Changes in goodwill are summarized by business segment as follows:

 

     Outdoor &                         Contemporary        
     Action Sports     Jeanswear     Imagewear      Sportswear      Brands     Total  
     In thousands  

Balance, December 2012

    $ 1,422,492      $ 228,843      $ 58,747       $ 157,314       $ 142,361      $ 2,009,757   

Currency translation

      12,406        (413 )      —         —         —        11,993   
  

 

 

    

 

 

    

 

 

     

 

 

     

 

 

    

 

 

  

Balance, December 2013

      1,434,898        228,430        58,747         157,314         142,361        2,021,750   

Impairment charge

      —        —        —         —         (142,361 )      (142,361 ) 

Currency translation

      (45,445 )      (8,988 )      —         —         —        (54,433 ) 
  

 

 

    

 

 

    

 

 

     

 

 

     

 

 

    

 

 

  

Balance, December 2014

    $ 1,389,453      $ 219,442      $ 58,747       $ 157,314       $ —      $ 1,824,956   
  

 

 

    

 

 

    

 

 

     

 

 

     

 

 

    

 

 

  

In 2014, in connection with its annual impairment testing, VF recorded an impairment charge of $142.4 million to write off the goodwill in the Splendid® and Ella Moss® reporting unit, which is part of the Contemporary Brands Coalition. There were no impairment charges required in 2013 or 2012. Accumulated impairment charges for the Contemporary Brands Coalition were $337.5 million as of December 2014, and $195.2 million as of December 2013 and 2012. Accumulated impairment charges for the Outdoor & Action Sports and Sportswear Coalitions were $43.4 million and $58.5 million, respectively, for all of the periods presented above. See Note T for additional information on the fair value measurements.