VF Corporation Annual report pursuant to Section 13 and 15(d)

GOODWILL

GOODWILL

12 Months Ended

Apr. 03, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in goodwill are summarized by reportable segment as follows:


(In thousands)	Outdoor		Active		Work		Total
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
Fiscal 2021 acquisition	—		1,250,311		—		1,250,311


Currency translation	11,845		5,610		1,642		19,097
Balance, March 2021	$	665,278	$	1,645,769	$	114,380	$	2,425,427

VF did not record any impairment charges in the years ended March 2021 or 2019 based on the results of its goodwill impairment testing. 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.

Accumulated impairment charges for the Outdoor segment were $323.2 million as of March 2021 and March 2020.