VF Corporation Annual report pursuant to Section 13 and 15(d)

Business Segment Information (Tables)

12 Months Ended

Jan. 02, 2016

Financial information for VF’s reportable segments is as follows:


	2015			2014			2013
	In thousands
Coalition revenues:
Outdoor & Action Sports	$	7,400,446		$	7,198,994		$	6,379,167
Jeanswear		2,792,244			2,801,754			2,810,994
Imagewear		1,082,565			1,104,038			1,065,952
Sportswear		635,056			650,203			624,693
Contemporary Brands		344,089			400,431			415,053
Other		122,344			126,741			123,789

Total coalition revenues	$	12,376,744		$	12,282,161		$	11,419,648

Coalition profit:
Outdoor & Action Sports ^(a)	$	1,266,763		$	1,312,963		$	1,106,384
Jeanswear		535,385			527,972			544,882
Imagewear		157,959			164,352			152,203
Sportswear		78,879			77,972			88,157
Contemporary Brands		5,845			23,420			38,825
Other ^(b)		15,135			(2,600	)		(562	)

Total coalition profit		2,059,966			2,104,079			1,929,889
Impairment of goodwill and intangible assets ^(c)		(143,562	)		(396,362	)		—
Corporate and other expenses		(253,753	)		(275,537	)		(286,767	)
Interest expense, net		(82,262	)		(79,814	)		(80,632	)

Income before income taxes	$	1,580,389		$	1,352,366		$	1,562,490

^(a)	Includes Timberland acquisition-related expenses of $10.7 million in 2013.

^(b)	Includes a $16.6 million gain recognized on the sale of a VF Outlet^® location in 2015.

^(c)	Reflects impairment charges in 2015 and 2014 related to the Contemporary Brands coalition. See Notes E, F and S for additional information.


	2015		2014		2013
	In thousands
Coalition assets:
Outdoor & Action Sports	$	2,436,788	$	2,211,232	$	2,133,447
Jeanswear		951,411		904,933		943,011
Imagewear		366,062		349,254		334,864
Sportswear		140,458		147,091		156,107
Contemporary Brands		145,265		172,687		187,116
Other		63,162		63,549		74,043

Total coalition assets		4,103,146		3,848,746		3,828,588
Cash and equivalents		945,605		971,895		776,403
Intangible assets and goodwill		3,901,026		4,258,508		4,981,951
Deferred income taxes		39,246		49,431		50,332
Corporate assets		650,519		716,720		532,005

Consolidated assets	$	9,639,542	$	9,845,300	$	10,169,279

Capital expenditures:
Outdoor & Action Sports	$	166,267	$	111,020	$	139,428
Jeanswear		31,844		31,586		49,763
Imagewear		6,959		6,356		3,793
Sportswear		8,771		22,814		6,074
Contemporary Brands		5,663		10,308		13,679
Other		2,679		2,489		3,953
Corporate		32,318		49,504		54,463

	$	254,501	$	234,077	$	271,153

Depreciation and amortization expense:
Outdoor & Action Sports	$	129,986	$	131,166	$	122,385
Jeanswear		41,823		43,189		41,742
Imagewear		11,608		11,602		11,481
Sportswear		15,358		14,334		12,195
Contemporary Brands		17,673		24,006		24,309
Other		4,510		5,231		4,608
Corporate		51,117		45,355		36,553

	$	272,075	$	274,883	$	253,273

Supplemental information (with revenues by geographic area based on the location of the customer) is as follows:


	2015		2014		2013
	In thousands
Total revenues:
U.S.	$	7,883,758	$	7,574,546	$	7,124,781
Foreign, primarily Europe		4,492,986		4,707,615		4,294,867

	$	12,376,744	$	12,282,161	$	11,419,648

Property, plant and equipment:
U.S.	$	631,937	$	577,669	$	549,420
Foreign, primarily Europe		356,222		364,512		383,372

	$	988,159	$	942,181	$	932,792