INTANGIBLE ASSETS

12 Months Ended

Apr. 01, 2023

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 2023
Amortizable intangible assets:
Customer relationships and other	19 years	Accelerated	$	262,818	$	173,916	$	88,902
Indefinite-lived intangible assets:
Trademarks and trade names							2,553,919
Intangible assets, net							$	2,642,821

(In thousands)	Weighted Average Amortization Period	Amortization Method	Cost		Accumulated Amortization		Net Carrying Amount
March 2022
Amortizable intangible assets:
Customer relationships and other	19 years	Accelerated	$	264,691	$	160,988	$	103,703
Indefinite-lived intangible assets:
Trademarks and trade names							2,896,648
Intangible assets, net							$	3,000,351

During the year ended March 2023, VF recorded impairment charges of $340.9 million related to the Supreme® indefinite-lived trademark intangible asset. Refer to Note 23 for additional information on fair value measurements.

VF did not record any impairment charges in the year ended March 2022. 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.

Amortization expense for the years ended March 2023, 2022 and 2021 was $14.1 million, $15.6 million and $17.5 million, respectively. Estimated amortization expense for the next five fiscal years is $13.6 million, $13.0 million, $12.1 million, $11.6 million and $10.7 million, respectively.