Quarterly report pursuant to Section 13 or 15(d)

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

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DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 9 Months Ended
Dec. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Outstanding Derivatives on Individual Contract Basis
The following table presents outstanding derivatives on an individual contract basis:
  Fair Value of Derivatives
with Unrealized Gains		 Fair Value of Derivatives
with Unrealized Losses
(In thousands) December 2023 March 2023 December 2022 December 2023 March 2023 December 2022
Derivatives Designated as Hedging Instruments:
Foreign exchange contracts $ 13,901  $ 46,752  $ 80,435  $ (63,897) $ (71,052) $ (58,455)
Interest rate contracts 1,737  —  422  —  (1,140) — 
Total derivatives designated as hedging instruments 15,638  46,752  80,857  (63,897) (72,192) (58,455)
Derivatives Not Designated as Hedging Instruments:
Foreign exchange contracts 166  2,936  4,061  (803) (461) (321)
Total derivatives
 $ 15,804  $ 49,688  $ 84,918  $ (64,700) $ (72,653) $ (58,776)
Schedule of Derivative Assets and Liabilities Presented in Consolidated Balance Sheet Adjusted from Current Gross If VF were to offset and record the asset and liability balances on a net basis in accordance with the terms of its master netting agreements, the amounts presented in the Consolidated Balance Sheets would be adjusted from the current gross presentation to the net amounts as detailed in the following table:
  December 2023 March 2023 December 2022
(In thousands) Derivative
Asset		 Derivative
Liability		 Derivative
Asset		 Derivative
Liability		 Derivative
Asset		 Derivative
Liability
Gross amounts presented in the Consolidated Balance Sheets
 $ 15,804  $ (64,700) $ 49,688  $ (72,653) $ 84,918  $ (58,776)
Gross amounts not offset in the Consolidated Balance Sheets
 (15,011) 15,011  (26,470) 26,470  (24,024) 24,024 
Net amounts
 $ 793  $ (49,689) $ 23,218  $ (46,183) $ 60,894  $ (34,752)
Schedule of Derivative Assets and Liabilities Presented in Consolidated Balance Sheet Adjusted from Current Gross If VF were to offset and record the asset and liability balances on a net basis in accordance with the terms of its master netting agreements, the amounts presented in the Consolidated Balance Sheets would be adjusted from the current gross presentation to the net amounts as detailed in the following table:
  December 2023 March 2023 December 2022
(In thousands) Derivative
Asset		 Derivative
Liability		 Derivative
Asset		 Derivative
Liability		 Derivative
Asset		 Derivative
Liability
Gross amounts presented in the Consolidated Balance Sheets
 $ 15,804  $ (64,700) $ 49,688  $ (72,653) $ 84,918  $ (58,776)
Gross amounts not offset in the Consolidated Balance Sheets
 (15,011) 15,011  (26,470) 26,470  (24,024) 24,024 
Net amounts
 $ 793  $ (49,689) $ 23,218  $ (46,183) $ 60,894  $ (34,752)
Schedule of Derivatives Classified as Current or Noncurrent Based on Maturity Dates
Derivatives are classified as current or noncurrent based on maturity dates, as follows:
(In thousands) December 2023 March 2023 December 2022
Derivative Instruments Balance Sheet Location
Foreign exchange contracts Other current assets $ 12,261  $ 48,132  $ 79,862 
Foreign exchange contracts Accrued liabilities (55,562) (59,995) (42,274)
Foreign exchange contracts Other assets 1,806  1,556  4,634 
Foreign exchange contracts Other liabilities (9,138) (11,518) (16,502)
Interest rate contracts Other current assets 1,737  —  — 
Interest rate contracts Other assets —  —  422 
Interest rate contracts Other liabilities —  (1,140) — 
Schedule of Effects of Cash Flow Hedging included in Consolidated Statements of Income and Consolidated Statements of Comprehensive Income The effects of cash flow hedging included in VF’s Consolidated Statements of Comprehensive Income (Loss) and Consolidated Statements of Operations are summarized as follows:
(In thousands)
Gain (Loss) on Derivatives
Recognized in Accumulated OCL
Three Months Ended December
Gain (Loss) on Derivatives
Recognized in Accumulated OCL
Nine Months Ended December
Cash Flow Hedging Relationships 2023 2022 2023 2022
Foreign exchange contracts $ (71,398) $ (120,057) $ (42,049) $ 82,058 
Interest rate contracts (1,977) 422  5,829  422 
Total $ (73,375) $ (119,635) $ (36,220) $ 82,480 
(In thousands)
Gain (Loss) Reclassified from Accumulated OCL into Net Income (Loss)
Three Months Ended December
Gain (Loss) Reclassified from Accumulated OCL into Net Income (Loss)
Nine Months Ended December
Cash Flow Hedging Relationships Location of Gain (Loss) 2023 2022 2023 2022
Foreign exchange contracts Net revenues $ (794) $ 782  $ (220) $ (9,173)
Foreign exchange contracts Cost of goods sold (2,697) 33,816  14,777  68,830 
Foreign exchange contracts Selling, general and administrative expenses 833  1,816  3,141  5,380 
Foreign exchange contracts Other income (expense), net 536  (3,536) (725) (9,065)
Interest rate contracts Interest expense 1,210  27  3,033  81 
Total $ (912) $ 32,905  $ 20,006  $ 56,053