| Business Segment Information |
Note L – Business Segment Information
VF’s businesses are grouped into product categories, and by
brands within those product categories, for internal financial
reporting used by management. These groupings of businesses within
VF are referred to as “coalitions” and are the basis
for VF’s reportable segments. Financial information for
VF’s reportable segments is as follows:
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Three Months Ended
June |
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Six Months Ended June
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| In thousands |
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2016 |
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2015 |
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2016 |
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2015 |
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Coalition revenues:
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Outdoor & Action Sports
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$ |
1,419,528 |
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$ |
1,396,344 |
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$ |
3,063,923 |
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$ |
3,003,233 |
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Jeanswear
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629,180 |
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608,201 |
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1,339,770 |
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1,307,856 |
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Imagewear
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255,225 |
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248,788 |
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524,350 |
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531,684 |
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Sportswear
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114,875 |
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142,191 |
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233,272 |
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277,848 |
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Other
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26,451 |
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31,462 |
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48,888 |
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56,129 |
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Total coalition revenues
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$ |
2,445,259 |
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$ |
2,426,986 |
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$ |
5,210,203 |
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$ |
5,176,750 |
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Coalition profit:
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Outdoor & Action Sports
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$ |
123,172 |
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$ |
134,925 |
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$ |
350,943 |
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$ |
395,745 |
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Jeanswear
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108,843 |
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104,568 |
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246,137 |
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236,500 |
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Imagewear
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36,397 |
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35,450 |
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77,912 |
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76,797 |
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Sportswear
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6,300 |
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14,433 |
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11,076 |
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27,274 |
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Other (a)
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(504 |
) |
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597 |
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(2,862 |
) |
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15,124 |
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Total coalition profit
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274,208 |
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289,973 |
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683,206 |
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751,440 |
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Corporate and other expenses (b)
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(61,283 |
) |
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(70,321 |
) |
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(136,736 |
) |
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(139,616 |
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Interest expense, net (b)
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(21,421 |
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(20,965 |
) |
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(41,468 |
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(40,557 |
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Income from continuing operations before income taxes
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$ |
191,504 |
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$ |
198,687 |
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$ |
505,002 |
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$ |
571,267 |
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(a) |
Includes a $16.6 million gain
recognized on the sale of a VF Outlet® location in
the first quarter of 2015. |
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(b) |
Certain corporate overhead costs and
interest expense previously allocated to the Contemporary Brands
coalition for segment reporting purposes have been reallocated to
continuing operations as discussed in Note B. |
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