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DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
6 Months Ended
Oct. 01, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of 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)September 2022March 2022September 2021September 2022March 2022September 2021
Foreign currency exchange contracts designated as hedging instruments
$209,837 $79,046 $35,674 $(31,844)$(27,678)$(32,853)
Foreign currency exchange contracts not designated as hedging instruments
5,427 — 154 (1,077)(45)(870)
Total derivatives
$215,264 $79,046 $35,828 $(32,921)$(27,723)$(33,723)
Schedule of Derivative Assets and Liabilities Presented in Consolidated Balance Sheet Adjusted from Current Gross 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:
 September 2022March 2022September 2021
(In thousands)Derivative
Asset
Derivative
Liability
Derivative
Asset
Derivative
Liability
Derivative
Asset
Derivative
Liability
Gross amounts presented in the Consolidated Balance Sheets
$215,264 $(32,921)$79,046 $(27,723)$35,828 $(33,723)
Gross amounts not offset in the Consolidated Balance Sheets
(32,358)32,358 (18,721)18,721 (17,201)17,201 
Net amounts
$182,906 $(563)$60,325 $(9,002)$18,627 $(16,522)
Schedule of Derivative Assets and Liabilities Presented in Consolidated Balance Sheet Adjusted from Current Gross 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:
 September 2022March 2022September 2021
(In thousands)Derivative
Asset
Derivative
Liability
Derivative
Asset
Derivative
Liability
Derivative
Asset
Derivative
Liability
Gross amounts presented in the Consolidated Balance Sheets
$215,264 $(32,921)$79,046 $(27,723)$35,828 $(33,723)
Gross amounts not offset in the Consolidated Balance Sheets
(32,358)32,358 (18,721)18,721 (17,201)17,201 
Net amounts
$182,906 $(563)$60,325 $(9,002)$18,627 $(16,522)
Schedule of 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)September 2022March 2022September 2021
Other current assets$186,926 $71,910 $27,903 
Accrued liabilities(28,484)(24,267)(31,609)
Other assets28,338 7,136 7,925 
Other liabilities(4,437)(3,456)(2,114)
Schedule of 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 (Loss) are summarized as follows:
(In thousands)
Gain on Derivatives Recognized in OCI
Three Months Ended September
Gain on Derivatives Recognized in OCI
Six Months Ended September
Cash Flow Hedging Relationships2022202120222021
Foreign currency exchange$102,685 $34,361 $202,115 $29,798 
(In thousands)
Gain (Loss) Reclassified from Accumulated OCI into Income (Loss)
Three Months Ended September
Gain (Loss) Reclassified from Accumulated OCI into Income (Loss)
Six Months Ended September
Location of Gain (Loss)2022202120222021
Net revenues
$(10,734)$(4,963)$(15,484)$(6,761)
Cost of goods sold
11,837 (16,501)17,761 (22,670)
Selling, general and administrative expenses
1,955 (189)3,564 (1,106)
Other income (expense), net
11,821 (1,360)17,253 (3,062)
Interest expense
27 27 54 54 
Total$14,906 $(22,986)$23,148 $(33,545)