Annual report pursuant to Section 13 and 15(d)

GOODWILL

v3.19.1
GOODWILL
 12 Months Ended
Mar. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL
GOODWILL
Changes in goodwill are summarized by reportable segment as follows:
(In thousands)
Outdoor
 
Active
 
Work
 
Jeans
 
Total
 
Balance, December 2016
$
832,937

 
$
429,354

 
$
89,011

 
$
203,365

 
$
1,554,667

 
2017 acquisition
—

 
—

 
92,837

 
—

 
92,837

 
Currency translation
9,337

 
27,420

 
(140
)
 
8,523

 
45,140

 
Balance, December 2017
842,274

 
456,774

 
181,708

 
211,888

 
1,692,644

 
Measurement period adjustment to 2017 acquisition (Note 3)
—

 
—

 
(9,974
)
 
—

 
(9,974
)
 
Currency translation
2,452

 
6,413

 
738

 
946

 
10,549

 
Balance, March 2018
844,726

 
463,187

 
172,472

 
212,834

 
1,693,219

 
Fiscal 2019 acquisitions
151,662

 
—

 
—

 
—

 
151,662

 
Fiscal 2019 divestitures
—

 
(48,329
)
 
(52
)
 
—

 
(48,381
)
 
Currency translation
(12,499
)
 
(20,902
)
 
(1,604
)
 
(6,611
)
 
(41,616
)
 
Balance, March 2019
$
983,889

 
$
393,956

 
$
170,816

 
$
206,223

 
$
1,754,884

 


In connection with the realignment of the Company's segment reporting structure, the Company allocated goodwill to any newly identified reporting units using a relative fair value approach as of the first day of the first quarter of Fiscal 2019. Balances as of March 2018, December 2017 and December 2016 have been retrospectively adjusted to reflect the reallocation. Refer to Note 19 for additional information regarding the Company's reportable segments.
VF did not record any impairment charges in the year ended March 2019, the three months ended March 2018 or the year ended December 2017 based on the results of its goodwill impairment testing. In the year ended December 2016, VF recorded an impairment charge of $39.3 million to write off the remaining goodwill balance related to its lucy® brand reporting unit, which was part of the former Outdoor and Action Sports segment. Refer to Note 22 for additional information on fair value measurements.
During the three months ended March 2018, VF completed the previously announced wind down of the lucy® brand operations. As of March 2018, VF has removed $51.6 million of goodwill and accumulated impairment charges related to the lucy® brand reporting unit, which previously had been fully impaired.
During the year ended March 2019, the Company completed the sales of the Reef® brand and Van Moer businesses, at which time the remaining goodwill of $48.4 million related to these reporting units was removed from the Consolidated Balance Sheet. Accumulated impairment charges for the goodwill removed from the Active segment were $31.1 million for the year ended March 2019. Refer to Note 4 for additional information regarding the divestitures.
There are no remaining accumulated impairment charges as of March 2019.