Annual report pursuant to Section 13 and 15(d)

REPORTABLE SEGMENT INFORMATION (Tables)

v3.23.1
REPORTABLE SEGMENT INFORMATION (Tables)
 12 Months Ended
Apr. 01, 2023
Segment Reporting [Abstract]  
Schedule of Financial Information for Reportable Segments
Financial information for VF’s reportable segments is as follows:
Year Ended March
(In thousands) 2023 2022 2021
Segment revenues:
Outdoor $ 5,647,526  $ 5,327,568  $ 4,127,601 
Active 4,904,622  5,380,338  4,160,856 
Work 1,060,179  1,133,149  945,680 
Other 148  785  4,693 
Total segment revenues $ 11,612,475  $ 11,841,840  $ 9,238,830 
Segment profit (loss):
Outdoor $ 785,431  $ 795,523  $ 342,212 
Active 654,691  979,746  648,467 
Work 121,157  193,492  27,141 
Other (536) (586) (5,410)
Total segment profit 1,560,743  1,968,175  1,012,410 
Impairment of goodwill and indefinite-lived intangible assets (a)
(735,009) —  (12,400)
Corporate and other expenses (617,815) (309,817) (417,038)
Interest expense, net (164,632) (131,463) (126,500)
Loss on debt extinguishment —  (3,645) — 
Income from continuing operations before income taxes $ 43,287  $ 1,523,250  $ 456,472 
(a)Excluded $8.0 million of impairment charges related to definite-lived intangible assets in the year ended March 2021, which were primarily recorded in the Work segment.
Schedule of Reconciliation Assets
(In thousands) March 2023 March 2022
Segment assets:
Outdoor $ 1,936,090  $ 1,307,244 
Active 1,341,142  1,110,691 
Work 610,798  436,765 
Other 15,055  31,815 
Total segment assets 3,903,085  2,886,515 
Cash and equivalents 814,887  1,275,943 
Property, plant and equipment, net 942,440  1,041,777 
Intangible assets and goodwill 4,621,234  5,394,158 
Operating lease right-of-use assets 1,372,182  1,247,056 
Other assets 2,336,660  1,496,759 
Consolidated assets $ 13,990,488  $ 13,342,208 
Schedule of Reconciliation of Capital Expenditures and Depreciation and Amortization Expense
Year Ended March
(In thousands) 2023 2022 2021
Depreciation and amortization expense:
Outdoor $ 94,448  $ 95,860  $ 94,841 
Active 81,106  87,235  80,245 
Work 12,524  14,439  20,785 
Other 74,246  69,401  73,210 
$ 262,324  $ 266,935  $ 269,081 
Schedule of Supplemental Information (with Revenues by Geographic Area Based on the Origin of Shipment)
Supplemental information (with revenues by geographic area primarily based on the origin of the shipment) is as follows:
Year Ended March
(In thousands) 2023 2022 2021
Total revenues:
U.S. $ 6,043,359  $ 6,178,300  $ 4,635,704 
Foreign 5,569,116  5,663,540  4,603,126 
$ 11,612,475  $ 11,841,840  $ 9,238,830 
Property, plant and equipment:
U.S. $ 707,035  $ 716,952 
Foreign 235,405  324,825 
$ 942,440  $ 1,041,777