Quarterly report pursuant to Section 13 or 15(d)

ACQUISITION (Tables)

v3.21.2
ACQUISITION (Tables)
 6 Months Ended
Oct. 02, 2021
Business Combination and Asset Acquisition [Abstract]  
Schedule of Assets Acquired and Liabilities Assumed
The following table summarizes the preliminary estimated fair values of the Supreme assets acquired and liabilities assumed at the date of acquisition:
(In thousands) December 28, 2020
Cash and equivalents $ 218,104 
Accounts receivable 19,698 
Inventories 44,937 
Other current assets 35,091 
Property, plant and equipment 18,914 
Intangible asset 1,201,000 
Operating lease right-of-use assets 55,668 
Other assets 58,479 
Total assets acquired 1,651,891 
Accounts payable 25,717 
Other current liabilities 77,640 
Operating lease liabilities 53,062 
Deferred income tax liabilities 275,718 
Other liabilities 35,245 
Total liabilities assumed 467,382 
Net assets acquired 1,184,509 
Goodwill 1,245,986 
Purchase price $ 2,430,495 
Preliminary Purchase Price
The purchase price consisted of the following components:
(In thousands) December 28, 2020
Cash consideration $ 2,223,495 
Contingent consideration 207,000 
Purchase price $ 2,430,495 
Unaudited Pro Forma Summary
The following unaudited pro forma summary presents consolidated information of VF as if the acquisition of Supreme had occurred on March 31, 2019:
(In thousands, except per share amounts)
Three Months Ended
September 2020
(unaudited)
Six Months Ended
September 2020
(unaudited)
Total revenues $ 2,743,359  $ 3,933,644 
Income from continuing operations 274,425  9,962 
Earnings per common share from continuing operations
Basic $ 0.71  $ 0.03 
Diluted 0.70  0.03