Quarterly report pursuant to Section 13 or 15(d)

ACQUISITION (Tables)

v3.21.4
ACQUISITION (Tables)
 9 Months Ended
Jan. 01, 2022
Business Combination and Asset Acquisition [Abstract]  
Schedule of Assets Acquired and Liabilities Assumed
The following table summarizes the 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 40,912 
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 1,657,712 
Accounts payable 25,717 
Other current liabilities 81,816 
Operating lease liabilities 53,062 
Deferred income tax liabilities 280,971 
Other liabilities 35,245 
Total liabilities assumed 476,811 
Net assets acquired 1,180,901 
Goodwill 1,249,594 
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
December 2020
(unaudited)
Nine Months Ended
December 2020
(unaudited)
Total revenues $ 3,160,826  $ 7,094,470 
Income from continuing operations 377,987  387,949 
Earnings per common share from continuing operations
Basic $ 0.97  $ 1.00 
Diluted 0.96  0.99