Quarterly report pursuant to Section 13 or 15(d)

Pension Plans

v2.4.0.8
Pension Plans
 6 Months Ended
Jun. 29, 2013
Pension Plans

Note H — Pension Plans

The components of pension cost for VF’s defined benefit plans were as follows:

 

     Three Months Ended June     Six Months Ended June  
In thousands        2013             2012             2013             2012      

Service cost – benefits earned during the period

    $ 6,327      $ 5,794      $ 13,220      $ 11,605   

Interest cost on projected benefit obligations

      17,978        19,249        36,029        38,498   

Expected return on plan assets

      (23,628 )      (20,158 )      (47,310 )      (40,314 ) 

Amortization of deferred amounts:

         

Net deferred actuarial losses

      21,326        17,621        42,688        35,239   

Deferred prior service cost

      316        838        657        1,677   
  

 

 

    

 

 

    

 

 

    

 

 

  

Net periodic pension cost

    $ 22,319      $ 23,344      $ 45,284      $ 46,705   
  

 

 

    

 

 

    

 

 

    

 

 

  

 

During the first half of 2013, VF contributed $111.3 million to its defined benefit plans, which included a $100.0 million discretionary contribution to its domestic defined benefit plan. VF intends to make approximately $7.8 million of additional contributions during the remainder of 2013.