Annual report pursuant to Section 13 and 15(d)

GOODWILL

v3.20.1
GOODWILL
 12 Months Ended
Mar. 28, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL GOODWILL
Changes in goodwill are summarized by reportable segment as follows:
(In thousands)
Outdoor
 
Active
 
Work
 
Total
 
Balance, March 2018
$
844,726

 
$
463,187

 
$
115,500

 
$
1,423,413

 
Fiscal 2019 acquisitions
151,662

 
—

 
—

 
151,662

 
Fiscal 2019 divestitures
—

 
(48,329
)
 
(52
)
 
(48,381
)
 
Currency translation
(12,499
)
 
(20,902
)
 
(1,609
)
 
(35,010
)
 
Balance, March 2019
983,889

 
393,956

 
113,839

 
1,491,684

 
Impairment charge
(323,223
)
 
—

 
—

 
(323,223
)
 
Currency translation
(7,233
)
 
(4,108
)
 
(1,101
)
 
(12,442
)
 
Balance, March 2020
$
653,433

 
$
389,848

 
$
112,738

 
$
1,156,019

 


In the year ended March 2020, VF recorded an impairment charge of $323.2 million related to the Timberland reporting unit, which is part of the Outdoor segment. Refer to Note 23 for additional information on fair value measurements. VF did not record any impairment charges in the year ended March 2019 based on the results of its goodwill impairment testing.
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.
Accumulated impairment charges for the Outdoor segment were $323.2 million as of March 2020.