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DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
9 Months Ended
Dec. 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)December 2024March 2024December 2023December 2024March 2024December 2023
Derivatives Designated as Hedging Instruments:
Foreign exchange contracts$89,053 $29,657 $13,901 $(26,667)$(39,639)$(63,897)
Interest rate contracts— 2,335 1,737 — — — 
Total derivatives designated as hedging instruments89,053 31,992 15,638 (26,667)(39,639)(63,897)
Derivatives Not Designated as Hedging Instruments:
Foreign exchange contracts 2,632 556 166 (161)(595)(803)
Total derivatives
$91,685 $32,548 $15,804 $(26,828)$(40,234)$(64,700)
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:
 December 2024March 2024December 2023
(In thousands)Derivative
Asset
Derivative
Liability
Derivative
Asset
Derivative
Liability
Derivative
Asset
Derivative
Liability
Gross amounts presented in the Consolidated Balance Sheets
$91,685 $(26,828)$32,548 $(40,234)$15,804 $(64,700)
Gross amounts not offset in the Consolidated Balance Sheets
(8,918)8,918 (11,322)11,322 (15,011)15,011 
Net amounts
$82,767 $(17,910)$21,226 $(28,912)$793 $(49,689)
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:
 December 2024March 2024December 2023
(In thousands)Derivative
Asset
Derivative
Liability
Derivative
Asset
Derivative
Liability
Derivative
Asset
Derivative
Liability
Gross amounts presented in the Consolidated Balance Sheets
$91,685 $(26,828)$32,548 $(40,234)$15,804 $(64,700)
Gross amounts not offset in the Consolidated Balance Sheets
(8,918)8,918 (11,322)11,322 (15,011)15,011 
Net amounts
$82,767 $(17,910)$21,226 $(28,912)$793 $(49,689)
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)December 2024March 2024December 2023
Derivative InstrumentsBalance Sheet Location
Foreign exchange contractsOther current assets$80,981 $26,366 $12,261 
Foreign exchange contractsAccrued liabilities(24,332)(35,578)(55,562)
Foreign exchange contractsOther assets10,704 3,847 1,806 
Foreign exchange contractsOther liabilities(2,496)(4,656)(9,138)
Interest rate contractsOther current assets— 2,335 1,737 
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 December
Gain (Loss) on Derivatives
Recognized in Accumulated OCL
Nine Months Ended December
Cash Flow Hedging Relationships2024202320242023
Foreign exchange contracts$104,716 $(71,398)$70,014 $(42,049)
Interest rate contracts13 (1,977)301 5,829 
Total$104,729 $(73,375)$70,315 $(36,220)
(In thousands)Gain (Loss) Reclassified from
Accumulated OCL into Net Income (Loss)
Three Months Ended December
Gain (Loss) Reclassified from Accumulated OCL into Net Income (Loss)
Nine Months Ended December
Cash Flow Hedging RelationshipsLocation of Gain (Loss) 2024202320242023
Foreign exchange contractsNet revenues$(9,580)$(794)$(21,762)$(220)
Foreign exchange contractsCost of goods sold4,648 (2,697)(9,479)14,777 
Foreign exchange contractsSG&A expenses166 833 (289)3,141 
Foreign exchange contractsOther income (expense), net(970)536 (973)(725)
Interest rate contractsInterest expense364 27 418 81 
Interest rate contractsIncome (loss) from discontinued operations, net of tax— 1,183 2,299 2,952 
Total$(5,372)$(912)$(29,786)$20,006