INTANGIBLE ASSETS

12 Months Ended

Apr. 03, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

INTANGIBLE ASSETS

(In thousands)	Weighted Average Amortization Period	Amortization Method	Cost		Accumulated Amortization		Net Carrying Amount
March 2021
Amortizable intangible assets:
Customer relationships	19 years	Accelerated	$	263,842	$	146,635	$	117,207
License agreements	20 years	Accelerated	6,747		4,299		2,448
Other	8 years	Straight-line	7,233		5,247		1,986
Amortizable intangible assets, net							121,641
Indefinite-lived intangible assets:
Trademarks and trade names							2,907,904
Intangible assets, net							$	3,029,545

(In thousands)	Weighted Average Amortization Period	Amortization Method	Cost		Accumulated Amortization		Net Carrying Amount
March 2020
Amortizable intangible assets:
Customer relationships	18 years	Accelerated	$	276,485	$	139,468	$	137,017
License agreements	19 years	Accelerated	7,467		4,919		2,548
Other	8 years	Straight-line	8,019		5,110		2,909
Amortizable intangible assets, net							142,474
Indefinite-lived intangible assets:
Trademarks and trade names							1,712,071
Intangible assets, net							$	1,854,545

The acquired Supreme® trademark is included as an indefinite-lived intangible asset as of March 2021. Refer to Note 3 for additional information.

VF recorded impairment charges of $20.4 million in the year ended March 2021 primarily due to the write-off of certain trademark and customer relationship balances, which resulted from strategic actions taken by the Company.

VF did not record any impairment charges in the years ended March 2020 or 2019.

Amortization expense for the years ended March 2021, 2020 and 2019 was $17.5 million, $18.7 million and $20.5 million, respectively. Estimated amortization expense for the next five fiscal years is $15.6 million, $14.6 million, $14.1 million, $13.6 million and $12.5 million, respectively.