PENSION PLANS

6 Months Ended

Sep. 26, 2020

Retirement Benefits [Abstract]

PENSION PLANS

PENSION PLANS

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

	Three Months Ended September				Six Months Ended September
(In thousands)	2020		2019		2020		2019
Service cost – benefits earned during the period	$	3,783	$	3,410	$	7,415	$	6,791
Interest cost on projected benefit obligations	11,981		14,743		23,929		29,504
Expected return on plan assets	(20,571)		(23,151)		(41,110)		(46,329)
Settlement charges	572		519		572		519
Amortization of deferred amounts:
Net deferred actuarial losses	2,898		4,014		5,761		8,033
Deferred prior service costs (credits)	(17)		12		(34)		25
Net periodic pension cost (income)	$	(1,354)	$	(453)	$	(3,467)	$	(1,457)

The amounts reported in these disclosures have not been segregated between continuing and discontinued operations.

VF has reported the service cost component of net periodic pension cost (income) in operating income and the other components, which include interest cost, expected return on plan assets, settlement charges and amortization of deferred actuarial losses and prior service costs (credits), in the other income (expense), net line item in the Consolidated Statements of Operations.

VF contributed $4.5 million to its defined benefit plans during the six months ended September 2020, and intends to make approximately $13.9 million of contributions during the remainder of Fiscal 2021.