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DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 9 Months Ended
Dec. 26, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Outstanding Derivatives on Individual Contract Basis
The following table presents outstanding derivatives on an individual contract basis:
 Fair Value of Derivatives
with Unrealized Gains		Fair Value of Derivatives
with Unrealized Losses
(In thousands)December 2020March 2020December 2019December 2020March 2020December 2019
Foreign currency exchange contracts designated as hedging instruments
$12,457 $78,298 $46,573 $(96,437)$(12,682)$(42,050)
Foreign currency exchange contracts not designated as hedging instruments
3,752 13,536 5,070 (1,398)(1,849)(929)
Total derivatives
$16,209 $91,834 $51,643 $(97,835)$(14,531)$(42,979)
Derivative Assets and Liabilities Presented in Consolidated Balance Sheet Adjusted from Current Gross
VF records and presents the fair values of all of its derivative assets and liabilities in the Consolidated Balance Sheets on a gross basis, even though they are subject to master netting agreements. If VF were to offset and record the asset and liability balances of its foreign exchange forward contracts on a net basis in accordance with the terms of its master netting agreements, the amounts presented in the Consolidated Balance Sheets would be adjusted from the current gross presentation to the net amounts as detailed in the following table:
 December 2020March 2020December 2019
(In thousands)Derivative
Asset		Derivative
Liability		Derivative
Asset		Derivative
Liability		Derivative
Asset		Derivative
Liability
Gross amounts presented in the Consolidated Balance Sheets
$16,209 $(97,835)$91,834 $(14,531)$51,643 $(42,979)
Gross amounts not offset in the Consolidated Balance Sheets
(16,209)16,209 (14,393)14,393 (27,958)27,958 
Net amounts
$— $(81,626)$77,441 $(138)$23,685 $(15,021)
Derivative Assets and Liabilities Presented in Consolidated Balance Sheet Adjusted from Current Gross
VF records and presents the fair values of all of its derivative assets and liabilities in the Consolidated Balance Sheets on a gross basis, even though they are subject to master netting agreements. If VF were to offset and record the asset and liability balances of its foreign exchange forward contracts on a net basis in accordance with the terms of its master netting agreements, the amounts presented in the Consolidated Balance Sheets would be adjusted from the current gross presentation to the net amounts as detailed in the following table:
 December 2020March 2020December 2019
(In thousands)Derivative
Asset		Derivative
Liability		Derivative
Asset		Derivative
Liability		Derivative
Asset		Derivative
Liability
Gross amounts presented in the Consolidated Balance Sheets
$16,209 $(97,835)$91,834 $(14,531)$51,643 $(42,979)
Gross amounts not offset in the Consolidated Balance Sheets
(16,209)16,209 (14,393)14,393 (27,958)27,958 
Net amounts
$— $(81,626)$77,441 $(138)$23,685 $(15,021)
Derivatives Classified as Current or Noncurrent Based on Maturity Dates
Derivatives are classified as current or noncurrent based on maturity dates, as follows:
(In thousands)December 2020March 2020December 2019
Other current assets$15,510 $71,784 $49,650 
Accrued liabilities(77,317)(11,378)(34,710)
Other assets699 20,050 1,993 
Other liabilities(20,518)(3,153)(8,269)
Effects of Cash Flow Hedging included in Consolidated Statements of Income and Consolidated Statements of Comprehensive Income The effects of cash flow hedging included in VF’s Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income are summarized as follows:
(In thousands)
Gain (Loss) on Derivatives Recognized in OCI
Three Months Ended December
Gain (Loss) on Derivatives Recognized in OCI
Nine Months Ended December
Cash Flow Hedging Relationships2020201920202019
Foreign currency exchange$(82,491)$(56,699)$(129,817)$9,471 
(In thousands)
Gain (Loss) Reclassified from Accumulated OCI into Income
Three Months Ended December
Gain (Loss) Reclassified from Accumulated OCI into Income
Nine Months Ended December
Location of Gain (Loss)2020201920202019
Net revenues
$4,048 $(5,507)$6,354 $(11,226)
Cost of goods sold
224 27,157 25,372 60,989 
Selling, general and administrative expenses
586 1,231 2,934 3,329 
Other income (expense), net
(613)1,006 1,190 7,574 
Interest expense
26 (1,324)80 (3,920)
Total$4,271 $22,563 $35,930 $56,746