ACQUISITION (Tables)

3 Months Ended

Jul. 03, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of Assets Acquired and Liabilities Assumed

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

(In thousands)	December 28, 2020
Cash and equivalents	$	218,104
Accounts receivable	19,698
Inventories	44,937
Other current assets	35,091
Property, plant and equipment	18,914
Intangible asset	1,201,000
Operating lease right-of-use assets	55,668
Other assets	58,479
Total assets acquired	1,651,891
Accounts payable	25,717
Other current liabilities	78,205
Operating lease liabilities	53,062
Deferred income tax liabilities	275,718
Other liabilities	35,245
Total liabilities assumed	467,947
Net assets acquired	1,183,944
Goodwill	1,250,311
Purchase price	$	2,434,255

Preliminary Purchase Price

The preliminary purchase price consisted of the following components:

(In thousands)	December 28, 2020
Cash consideration	$	2,227,255
Contingent consideration	207,000
Purchase price	$	2,434,255

Unaudited Pro Forma Summary

The following unaudited pro forma summary presents consolidated information of VF as if the acquisition of Supreme had occurred on March 31, 2019:

(In thousands, except per share amounts)	Three Months Ended June 2020 (unaudited)
Total revenues	$	1,190,285
Income (loss) from continuing operations	(264,463)
Earnings (loss) per common share from continuing operations
Basic	$	(0.68)
Diluted	(0.68)