| Financial Information for Reportable Segments |
Financial information for VF’s reportable segments is as follows:
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Three Months Ended September |
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Nine Months Ended September |
In thousands |
2017 |
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2016 |
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2017 |
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2016 |
Coalition revenues: |
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Outdoor & Action Sports |
$ |
2,502,590 |
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$ |
2,326,436 |
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$ |
5,647,587 |
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$ |
5,378,272 |
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Jeanswear |
697,701 |
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701,416 |
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1,945,950 |
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2,041,186 |
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Imagewear |
138,885 |
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127,992 |
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423,859 |
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404,633 |
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Sportswear |
140,272 |
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140,705 |
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352,848 |
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373,977 |
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Other |
29,370 |
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31,167 |
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79,832 |
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84,531 |
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Total coalition revenues |
$ |
3,508,818 |
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$ |
3,327,716 |
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$ |
8,450,076 |
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$ |
8,282,599 |
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Coalition profit: (a)
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Outdoor & Action Sports |
$ |
524,489 |
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$ |
491,015 |
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$ |
877,206 |
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$ |
842,378 |
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Jeanswear |
121,218 |
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142,427 |
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323,994 |
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388,564 |
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Imagewear |
22,377 |
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23,981 |
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72,349 |
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74,497 |
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Sportswear |
17,488 |
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15,080 |
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27,764 |
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26,156 |
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Other |
(737 |
) |
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(341 |
) |
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(3,225 |
) |
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(3,523 |
) |
Total coalition profit |
684,835 |
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672,162 |
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1,298,088 |
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1,328,072 |
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Impairment of goodwill (b)
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(104,651 |
) |
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— |
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(104,651 |
) |
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— |
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Corporate and other expenses (a)
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(96,567 |
) |
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(65,012 |
) |
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(252,044 |
) |
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(211,910 |
) |
Interest expense, net |
(22,537 |
) |
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(22,568 |
) |
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(63,332 |
) |
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(63,982 |
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Income from continuing operations before income taxes |
$ |
461,080 |
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$ |
584,582 |
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$ |
878,061 |
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$ |
1,052,180 |
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(a) |
Certain corporate overhead and other costs of $6.0 million and $18.2 million for the three and nine-month periods ended September 2016, respectively, previously allocated to the Imagewear and Outdoor & Action Sports coalitions for segment reporting purposes, have been reallocated to continuing operations as discussed in Note C.
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(b) |
Represents goodwill impairment charge in 2017 related to the Sportswear coalition as discussed in Notes G and N. The impairment charge was excluded from the profit of the Sportswear coalition since it is not part of the ongoing operations of the business. |
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