Quarterly report pursuant to Section 13 or 15(d)

RESTRUCTURING (Tables)

v3.24.4
RESTRUCTURING (Tables)
 9 Months Ended
Dec. 28, 2024
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring and Related Costs
The type of cost and respective location of restructuring charges related to Reinvent within VF's Consolidated Statement of Operations for the three and nine months ended December 2024 and 2023, and the cumulative charges recorded since the inception of Reinvent were as follows:
Three Months Ended December Nine Months Ended December Cumulative Charges
(In thousands) 2024 2023 2024 2023
Type of Cost Location
Severance and employee-related benefits SG&A expenses $ 16,976  $ 27,392  $ 36,275  $ 27,392  $ 101,097 
Severance and employee-related benefits Cost of goods sold —  4,210  181  4,210  4,691 
Contract termination and other SG&A expenses —  —  737  —  737 
Contract termination and other Cost of goods sold —  —  157  —  157 
Asset impairments and write-downs SG&A expenses —  18,739  500  18,739  39,886 
Pension withdrawal SG&A expenses —  —  3,619  —  3,619 
Curtailment gains Other income (expense), net (638) —  (638) —  (638)
Accelerated depreciation SG&A expenses 50  —  929  —  929 
Accelerated depreciation Cost of goods sold —  —  17  —  17 
Total Reinvent Restructuring Charges $ 16,388  $ 50,341  $ 41,777  $ 50,341  $ 150,495 
The type of cost and respective location of Other Restructuring Charges within VF's Consolidated Statement of Operations for the three and nine months ended December 2024 and 2023 were as follows:
Three Months Ended December Nine Months Ended December
(In thousands) 2024 2023 2024 2023
Type of Cost Location
Severance and employee-related benefits SG&A expenses $ —  $ —  $ —  $ 676 
Contract termination and other SG&A expenses —  435  591  889 
Total Other Restructuring Charges $ —  $ 435  $ 591  $ 1,565 
Other Restructuring Charges by business segment were as follows:
Three Months Ended December Nine Months Ended December
(In thousands) 2024 2023 2024 2023
Outdoor $ —  $ —  $ —  $ 242 
Active —  —  —  434 
Work —  —  —  — 
Corporate and other —  435  591  889 
Total $ —  $ 435  $ 591  $ 1,565 
Schedule of Components of Restructuring Charges, Other Restructuring Charges, Restructuring Costs by Business Segment and Activity in Restructuring Accrual
The activity in the restructuring accrual related to Reinvent and Other Restructuring Charges for the nine-month period ended December 2024 was as follows:
(In thousands) Severance Other Total
Accrual at March 2024 $ 60,160  $ 345  $ 60,505 
Charges 36,456  894  37,350 
Cash payments and settlements (39,761) (902) (40,663)
Adjustments to accruals (1,647) —  (1,647)
Impact of foreign currency (595) —  (595)
Accrual at December 2024 $ 54,613  $ 337  $ 54,950