Annual report pursuant to Section 13 and 15(d)

Capital and Accumulated Other Comprehensive Income (Loss)

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Capital and Accumulated Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 29, 2012
Capital and Accumulated Other Comprehensive Income (Loss)

Note N — Capital and Accumulated Other Comprehensive Income (Loss)

Common Stock

Common Stock outstanding is net of shares held in treasury which are, in substance, retired. During 2012, VF restored 19,000,000 shares of treasury stock to an unissued status. There were 2,530,401 treasury shares at the end of 2012, 19,289,690 at the end of 2011 and 19,099,644 at the end of 2010. The excess of the cost of treasury shares acquired over the $1 per share stated value of Common Stock is deducted from retained earnings. In addition, 187,456 shares of Common Stock at the end of 2012, 238,275 shares at the end of 2011 and 246,860 shares at the end of 2010 were held in connection with deferred compensation plans (Note M). These shares, having a cost of $8.8 million, $11.0 million and $10.7 million at the respective dates, are treated as treasury shares for financial reporting purposes.

Accumulated Other Comprehensive Income (Loss)

Comprehensive income consists of net income and specified components of other comprehensive income (“OCI”). OCI consists of changes in assets and liabilities that are not included in net income under GAAP but are instead deferred and accumulated within a separate component of stockholders’ equity in the balance sheet. VF’s comprehensive income is presented in the Consolidated Statements of Comprehensive Income. The deferred components of other comprehensive income (loss) are reported, net of related income taxes, in accumulated other comprehensive income (loss) in stockholders’ equity, as follows:

 

      2012     2011  
     In thousands  

Foreign currency translation

    $ (4,068 )    $ (51,159 ) 

Defined benefit pension plans

      (420,538 )      (356,693 ) 

Derivative financial instruments

      (29,430 )      (14,167 ) 

Marketable securities

      141        542   
  

 

 

    

 

 

  

Accumulated other comprehensive income (loss)

    $ (453,895 )    $ (421,477 )