REVENUES

9 Months Ended

Dec. 28, 2024

Revenue from Contract with Customer [Abstract]

REVENUES

REVENUES

Contract Balances

The following table provides information about contract assets and contract liabilities:

(In thousands)	December 2024		March 2024		December 2023
Contract assets (a)	$	1,757	$	2,393	$	1,877
Contract liabilities (b)	68,820		66,130		66,903

(a)Included in the other current assets line item in the Consolidated Balance Sheets.

(b)Included in the accrued liabilities line item in the Consolidated Balance Sheets.

For the three and nine months ended December 2024, the Company recognized $61.9 million and $159.3 million, respectively, of revenue, which, for the nine months ended December 2024 included the majority of the contract liability balance at the beginning of the year, and, for both periods, included amounts recorded as a contract liability and subsequently recognized as revenue as performance obligations were satisfied within the same period, such as order deposits from customers. The change in the contract asset and contract liability balances primarily results from timing differences between the Company's satisfaction of performance obligations and the customer's payment.

Performance Obligations

As of December 2024, the Company expects to recognize $61.0 million of fixed consideration related to the future minimum

guarantees in effect under its licensing agreements and expects such amounts to be recognized over time based on the contractual terms through March 2031. The variable consideration related to licensing arrangements is not disclosed as a remaining performance obligation as it qualifies for the sales-based royalty exemption. VF has also elected the practical expedient to not disclose the transaction price allocated to remaining performance obligations for contracts with an original expected duration of one year or less.

As of December 2024, there were no arrangements with transaction price allocated to remaining performance obligations other than contracts for which the Company has applied the practical expedients and the fixed consideration related to future minimum guarantees discussed above.

Disaggregation of Revenues

The following tables disaggregate our revenues by channel and geography, which provides a meaningful depiction of how the nature, timing and uncertainty of revenues are affected by economic factors.

	Three Months Ended December 2024
(In thousands)	Outdoor		Active		Work		Total
Channel revenues
Wholesale	$	785,883	$	305,803	$	159,251	$	1,250,937
Direct-to-consumer	1,060,997		454,254		50,318		1,565,569
Royalty	4,266		6,250		6,890		17,406
Total	$	1,851,146	$	766,307	$	216,459	$	2,833,912
Geographic revenues
Americas	$	864,838	$	457,417	$	184,467	$	1,506,722
Europe	643,699		233,423		17,120		894,242
Asia-Pacific	342,609		75,467		14,872		432,948
Total	$	1,851,146	$	766,307	$	216,459	$	2,833,912

	Three Months Ended December 2023
(In thousands)	Outdoor		Active		Work		Total
Channel revenues
Wholesale	$	734,130	$	264,531	$	157,841	$	1,156,502
Direct-to-consumer	999,694		548,465		58,038		1,606,197
Royalty	4,755		6,311		6,429		17,495
Total	$	1,738,579	$	819,307	$	222,308	$	2,780,194
Geographic revenues
Americas	$	821,506	$	478,584	$	185,916	$	1,486,006
Europe	622,377		237,800		22,829		883,006
Asia-Pacific	294,696		102,923		13,563		411,182
Total	$	1,738,579	$	819,307	$	222,308	$	2,780,194

	Nine Months Ended December 2024
(In thousands)	Outdoor		Active		Work		Total
Channel revenues
Wholesale	$	2,432,704	$	1,183,914	$	475,888	$	4,092,506
Direct-to-consumer	1,857,145		1,246,247		118,069		3,221,461
Royalty	10,168		19,811		16,974		46,953
Total	$	4,300,017	$	2,449,972	$	610,931	$	7,360,920
Geographic revenues
Americas	$	1,941,332	$	1,397,707	$	499,240	$	3,838,279
Europe	1,559,750		806,094		70,289		2,436,133
Asia-Pacific	798,935		246,171		41,402		1,086,508
Total	$	4,300,017	$	2,449,972	$	610,931	$	7,360,920

	Nine Months Ended December 2023
(In thousands)	Outdoor		Active		Work		Total
Channel revenues
Wholesale	$	2,499,604	$	1,163,797	$	496,630	$	4,160,031
Direct-to-consumer	1,769,098		1,552,244		137,649		3,458,991
Royalty	13,253		19,173		16,932		49,358
Total	$	4,281,955	$	2,735,214	$	651,211	$	7,668,380
Geographic revenues
Americas	$	2,021,660	$	1,562,861	$	526,355	$	4,110,876
Europe	1,567,804		846,479		75,776		2,490,059
Asia-Pacific	692,491		325,874		49,080		1,067,445
Total	$	4,281,955	$	2,735,214	$	651,211	$	7,668,380