Annual report pursuant to Section 13 and 15(d)

Other Liabilities

v3.6.0.2
Other Liabilities
 12 Months Ended
Dec. 31, 2016
Other Liabilities Disclosure [Abstract]  
Other Liabilities
Other Liabilities
 
 
2016
 
2015
 
In thousands
Deferred income taxes (Note P)
$
220,618

 
$
241,409

Deferred compensation (Note M)
198,256

 
223,232

Income taxes
181,629

 
79,975

Pension liabilities (Note M)
165,642

 
157,434

Deferred rent credits
89,835

 
84,960

Product warranty claims
49,879

 
49,564

Derivative financial instruments (Note U)
7,000

 
2,256

Other
60,927

 
61,426

Other liabilities
$
973,786

 
$
900,256


 
VF accrues warranty costs at the time revenue is recognized. Product warranty costs are estimated based on historical experience and specific identification of the product requirements, which may fluctuate based on product mix. Activity relating to accrued product warranty claims is summarized as follows:
 
 
2016
 
2015
 
2014
 
In thousands
Balance, beginning of year
$
63,114

 
$
62,288

 
$
57,139

Accrual for products sold during the year
12,022

 
16,673

 
20,971

Repair or replacement costs incurred
(11,956
)
 
(14,136
)
 
(13,660
)
Currency translation
(308
)
 
(1,711
)
 
(2,162
)
Balance, end of year
62,872

 
63,114

 
62,288

Less current portion (Note J)
12,993

 
13,550

 
14,467

Long-term portion
$
49,879

 
$
49,564

 
$
47,821