DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

12 Months Ended

Apr. 01, 2023

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)	March 2023		March 2022		March 2023		March 2022
Derivatives Designated as Hedging Instruments:
Foreign exchange contracts	$	46,752	$	79,046	$	(71,052)	$	(27,678)
Interest rate contracts	—		—		(1,140)		—
Total derivatives designated as hedging instruments	46,752		79,046		(72,192)		(27,678)
Derivatives Not Designated as Hedging Instruments:
Foreign exchange contracts	2,936		—		(461)		(45)
Total derivatives	$	49,688	$	79,046	$	(72,653)	$	(27,723)

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 on a net basis in accordance with the terms of its master netting agreements, the amounts presented in the Consolidated Balance Sheets as of March 2023 and 2022 would be adjusted from the current gross presentation to the net amounts as detailed in the following table:

	March 2023				March 2022
(In thousands)	Derivative Asset		Derivative Liability		Derivative Asset		Derivative Liability
Gross amounts presented in the Consolidated Balance Sheets	$	49,688	$	(72,653)	$	79,046	$	(27,723)
Gross amounts not offset in the Consolidated Balance Sheets	(26,470)		26,470		(18,721)		18,721
Net amounts	$	23,218	$	(46,183)	$	60,325	$	(9,002)

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)		March 2023		March 2022
Derivative Instruments	Balance Sheet Location
Foreign exchange contracts	Other current assets	$	48,132	$	71,910
Foreign exchange contracts	Accrued liabilities (Note 13)	(59,995)		(24,267)
Foreign exchange contracts	Other assets (Note 11)	1,556		7,136
Foreign exchange contracts	Other liabilities (Note 15)	(11,518)		(3,456)
Interest rate contracts	Other liabilities (Note 15)	(1,140)		—

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 are summarized as follows:

(In thousands) Cash Flow Hedging Relationships	Gain (Loss) on Derivatives Recognized in OCI
	Year Ended March
	2023		2022		2021
Foreign exchange contracts	$	54,546	$	71,494	$	(122,244)
Interest rate contracts	(1,013)		—		—
Total	$	53,533	$	71,494	$	(122,244)

		Gain (Loss) Reclassified from Accumulated OCI into Income
(In thousands)		Year Ended March
Cash Flow Hedging Relationships	Location of Gain (Loss)	2023		2022		2021
Foreign exchange contracts	Net revenues	$	(6,843)	$	(27,382)	$	2,596
Foreign exchange contracts	Cost of goods sold	120,438		(26,346)		19,485
Foreign exchange contracts	Selling, general and administrative expenses	6,695		(487)		2,797
Foreign exchange contracts	Other income (expense), net	(10,365)		(219)		(137)
Interest rate contracts	Interest expense	235		108		107
Total		$	110,160	$	(54,326)	$	24,848