REPORTABLE SEGMENT INFORMATION (Tables)

12 Months Ended

Apr. 02, 2022

Financial Information for Reportable Segments

Financial information for VF’s reportable segments is as follows:


	Year Ended March

(In thousands)	2022		2021		2020
Segment revenues:
Outdoor	$	5,327,568	$	4,127,601	$	4,643,956
Active	5,380,338		4,160,856		4,919,427
Work	1,133,149		945,680		886,419
Other	785		4,693		38,754
Total segment revenues	$	11,841,840	$	9,238,830	$	10,488,556
Segment profit (loss):
Outdoor	$	795,523	$	342,212	$	516,089
Active	979,746		648,467		1,136,821
Work	193,492		27,141		50,383
Other	(586)		(5,410)		(6,485)
Total segment profit	1,968,175		1,012,410		1,696,808
Impairment of goodwill and indefinite-lived intangible assets (a)	—		(12,400)		(323,223)
Corporate and other expenses (b)	(309,817)		(417,038)		(514,430)
Interest expense, net	(131,463)		(126,500)		(72,175)
Loss on debt extinguishment	(3,645)		—		(59,772)
Income from continuing operations before income taxes	$	1,523,250	$	456,472	$	727,208

(a)Excludes $8.0 million of impairment charges related to definite-lived intangible assets in the year ended March 2021, which are primarily recorded in the Work segment.

(b)Certain corporate overhead and other costs of $25.2 million during the year ended March 2020, previously allocated to the Work segment for segment reporting purposes, have been reallocated to continuing operations as discussed in Note 4.

Reconciliation Assets


(In thousands)	March 2022		March 2021
Segment assets:
Outdoor	$	1,307,244	$	1,019,244
Active	1,110,691		1,025,327
Work	436,765		300,927
Other	31,815		14,361
Total segment assets	2,886,515		2,359,859
Cash and equivalents	1,275,943		815,750
Short-term investments	—		598,806
Property, plant and equipment, net	1,041,777		975,876
Intangible assets and goodwill	5,394,158		5,454,972
Operating lease right-of-use assets	1,247,056		1,474,434
Other assets	1,496,759		1,486,754
Assets of discontinued operations	—		587,578
Consolidated assets	$	13,342,208	$	13,754,029

Reconciliation of Capital Expenditures and Depreciation and Amortization Expense


(In thousands)	March 2022		March 2021
Segment assets:
Outdoor	$	1,307,244	$	1,019,244
Active	1,110,691		1,025,327
Work	436,765		300,927
Other	31,815		14,361
Total segment assets	2,886,515		2,359,859
Cash and equivalents	1,275,943		815,750
Short-term investments	—		598,806
Property, plant and equipment, net	1,041,777		975,876
Intangible assets and goodwill	5,394,158		5,454,972
Operating lease right-of-use assets	1,247,056		1,474,434
Other assets	1,496,759		1,486,754
Assets of discontinued operations	—		587,578
Consolidated assets	$	13,342,208	$	13,754,029


	Year Ended March

(In thousands)	2022		2021		2020
Depreciation and amortization expense:
Outdoor	$	95,860	$	94,841	$	91,657
Active	87,235		80,245		80,562
Work	14,439		20,785		14,856
Other	69,401		73,210		80,544
	$	266,935	$	269,081	$	267,619

Supplemental Information (with Revenues by Geographic Area Based on the Origin of Shipment)

Supplemental information (with revenues by geographic area primarily based on the origin of the shipment) is as follows:


	Year Ended March

(In thousands)	2022		2021		2020
Total revenues:
U.S.	$	6,178,300	$	4,635,704	$	5,520,317
Foreign	5,663,540		4,603,126		4,968,239
	$	11,841,840	$	9,238,830	$	10,488,556
Property, plant and equipment:
U.S.	$	716,952	$	621,777
Foreign	324,825		354,099
	$	1,041,777	$	975,876