VF Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Acquisitions and Dispositions (Tables)

Acquisitions and Dispositions (Tables)

12 Months Ended

Dec. 29, 2012

Fair Values of Assets Acquired and Liabilities Assumed at Date of Acquisition

The following table summarizes the final fair values of the assets acquired and liabilities assumed at the date of acquisition:


	In thousands
Cash and equivalents	$	92,442
Inventories		390,180
Other current assets		318,755
Property, plant and equipment		89,581
Intangible assets		1,458,800
Other assets		42,635

Total assets acquired		2,392,393

Current liabilities		364,608
Other liabilities, primarily deferred income taxes		580,182

Total liabilities assumed		944,790

Net assets acquired		1,447,603
Goodwill		851,904

Purchase price	$	2,299,507

Pro Forma Results of Operations Assuming that Twenty Twelve Acquisition of Timberland had Occured at Beginning of Twenty Ten

Unaudited pro forma results of operations for VF are presented assuming that the 2011 acquisition of Timberland had occurred at the beginning of 2010. This pro forma financial information is not necessarily indicative of VF’s operating results if the acquisition had been completed at the date indicated, nor is it necessarily an indication of future operating results. Amounts do not include any marketing leverage, operating efficiencies or cost savings that VF believes are achievable.


	2011 (a)		2010
	In thousands, except per share amounts
Total revenues	$	10,411,978	$	9,132,073
Net income attributable to VF Corporation		808,867		623,538
Earnings per common share:
Basic	$	7.40	$	5.73
Diluted		7.27		5.65

(a)

Pro forma operating results for 2011 include expenses totaling $96.2 million for acceleration of vesting for all unvested stock-based compensation awards, including tax gross-up payments required under employment agreements with certain Timberland executives, and $17.3 million in Timberland acquisition-related expenses.

Impact on Consolidated Equity due to Changes in VF's Ownership Interests in Subsidiaries

The changes in VF’s ownership interests in these subsidiaries impacted consolidated equity during 2011 as follows:


	2011
	In thousands
Net income attributable to VF Corporation	$	888,089
Net transfers to noncontrolling interests — decrease in equity for purchase of noncontrolling interests		(50,226	)

Changes from net income attributable to VF Corporation and transfers to the noncontrolling interests	$	837,863

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

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- Definition

The tabular disclosure of the effects of any changes in a parent's ownership interest in a subsidiary on the equity attributable to the parent if the ownership interests in a subsidiary changes during the period. The changes represented by this element did not result in the deconsolidation of the subsidiary.

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