Quarterly report pursuant to Section 13 or 15(d)

Pension Plans

v3.7.0.1
Pension Plans
 6 Months Ended
Jul. 01, 2017
Compensation and Retirement Disclosure [Abstract]  
Pension Plans
Pension Plans
The components of pension cost for VF’s defined benefit plans were as follows:
 
Three Months Ended June
 
Six Months Ended June
In thousands
2017
 
2016
 
2017
 
2016
Service cost – benefits earned during the period
$
6,115

 
$
6,507

 
$
12,531

 
$
12,956

Interest cost on projected benefit obligations
14,709

 
17,041

 
29,524

 
34,075

Expected return on plan assets
(23,797
)
 
(24,926
)
 
(47,152
)
 
(49,845
)
Amortization of deferred amounts:
 
 
 
 
 
 
 
Net deferred actuarial losses
10,002

 
16,319

 
21,384

 
32,625

Deferred prior service costs
645

 
645

 
1,357

 
1,292

Net periodic pension cost
$
7,674

 
$
15,586

 
$
17,644

 
$
31,103


VF contributed $4.7 million to its defined benefit plans during the first six months of 2017, and intends to make approximately $10.1 million of additional contributions during the remainder of 2017.
In conjunction with the sale of the Licensing Business, the Company recognized a $1.1 million pension curtailment loss in the loss from discontinued operations, net of tax line item in the Consolidated Statement of Income in the first six months of 2017.