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DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
6 Months Ended
Sep. 28, 2024
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 2024March 2024September 2023September 2024March 2024September 2023
Derivatives Designated as Hedging Instruments:
Foreign exchange contracts$15,846 $29,657 $51,216 $(53,621)$(39,639)$(37,664)
Interest rate contracts324 2,335 4,897 — — — 
Total derivatives designated as hedging instruments16,170 31,992 56,113 (53,621)(39,639)(37,664)
Derivatives Not Designated as Hedging Instruments:
Foreign exchange contracts 275 556 1,258 (948)(595)(905)
Total derivatives
$16,445 $32,548 $57,371 $(54,569)$(40,234)$(38,569)
Schedule of Derivative Assets 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 would be adjusted from the current gross presentation to the net amounts as detailed in the following table:
 September 2024March 2024September 2023
(In thousands)Derivative
Asset
Derivative
Liability
Derivative
Asset
Derivative
Liability
Derivative
Asset
Derivative
Liability
Gross amounts presented in the Consolidated Balance Sheets
$16,445 $(54,569)$32,548 $(40,234)$57,371 $(38,569)
Gross amounts not offset in the Consolidated Balance Sheets
(8,282)8,282 (11,322)11,322 (25,460)25,460 
Net amounts
$8,163 $(46,287)$21,226 $(28,912)$31,911 $(13,109)
Schedule of Derivative 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 would be adjusted from the current gross presentation to the net amounts as detailed in the following table:
 September 2024March 2024September 2023
(In thousands)Derivative
Asset
Derivative
Liability
Derivative
Asset
Derivative
Liability
Derivative
Asset
Derivative
Liability
Gross amounts presented in the Consolidated Balance Sheets
$16,445 $(54,569)$32,548 $(40,234)$57,371 $(38,569)
Gross amounts not offset in the Consolidated Balance Sheets
(8,282)8,282 (11,322)11,322 (25,460)25,460 
Net amounts
$8,163 $(46,287)$21,226 $(28,912)$31,911 $(13,109)
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 2024March 2024September 2023
Derivative InstrumentsBalance Sheet Location
Foreign exchange contractsOther current assets$12,988 $26,366 $40,567 
Foreign exchange contractsAccrued liabilities(44,300)(35,578)(35,347)
Foreign exchange contractsOther assets3,133 3,847 11,907 
Foreign exchange contractsOther liabilities(10,269)(4,656)(3,222)
Interest rate contractsOther current assets324 2,335 — 
Interest rate contractsOther assets— — 4,897 
Schedule of Effects of Cash Flow Hedging included in Consolidated Statements of Comprehensive Income (Loss) and Consolidated Statements of Operations The effects of cash flow hedging included in VF’s Consolidated Statements of Comprehensive Income (Loss) and Consolidated Statements of Operations are summarized as follows:
(In thousands)Gain (Loss) on Derivatives
Recognized in Accumulated OCL
Three Months Ended September
Gain (Loss) on Derivatives
Recognized in Accumulated OCL
Six Months Ended September
Cash Flow Hedging Relationships2024202320242023
Foreign exchange contracts$(54,203)$58,509 $(34,702)$29,349 
Interest rate contracts(232)1,386 288 7,806 
Total$(54,435)$59,895 $(34,414)$37,155 
(In thousands)Gain (Loss) Reclassified from
Accumulated OCL into Net Income (Loss)
Three Months Ended September
Gain (Loss) Reclassified from Accumulated OCL into Net Income (Loss)
Six Months Ended September
Cash Flow Hedging RelationshipsLocation of Gain (Loss) 2024202320242023
Foreign exchange contractsNet revenues$(7,851)$(516)$(12,182)$574 
Foreign exchange contractsCost of goods sold(4,001)9,399 (14,127)17,474 
Foreign exchange contractsSelling, general and administrative expenses(47)1,007 (455)2,308 
Foreign exchange contractsOther income (expense), net53 (750)(3)(1,261)
Interest rate contractsInterest expense27 27 54 54 
Interest rate contractsIncome (loss) from discontinued operations, net of tax1,134 1,071 2,299 1,769 
Total$(10,685)$10,238 $(24,414)$20,918