VFC VF Corporation

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Recently Adopted Accounting Standards

In September 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2022-04, "Liabilities — Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations". This guidance requires companies with supplier finance programs to disclose sufficient qualitative and quantitative information about the program to allow a user of the financial statements to understand the nature of, activity in, and potential magnitude of the program. The guidance became effective for VF in the first quarter of Fiscal 2024, except for the rollforward information that will be effective for annual periods beginning in Fiscal 2025 on a prospective basis. The Company adopted the required guidance in the first quarter of Fiscal 2024 and will disclose the rollforward information in our Annual Report on Form 10-K for the year ended March 29, 2025. Refer to Note 8 for disclosures related to the Company's supply chain financing program.

Recently Issued Accounting Standards

In November 2023, the FASB issued ASU No. 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures", which updates reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses that are regularly provided to the individual or group identified as the chief operating decision maker ("CODM"). The guidance also requires disclosure of the title and position of the CODM and how reported measures of

segment profit or loss are used to assess performance and allocate resources. The guidance will be effective for annual disclosures beginning in Fiscal 2025, and has expanded requirements to include all disclosures about a reportable segment's profit or loss and assets in subsequent interim periods. Early adoption is permitted. The guidance requires retrospective application to all prior periods presented in the financial statements. The Company is evaluating the impact that adopting this guidance will have on VF's disclosures.

In December 2023, the FASB issued ASU No. 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures", which is intended to enhance the transparency and decision usefulness of income tax disclosures by requiring that an entity, on an annual basis, disclose additional income tax information, primarily related to the rate reconciliation and income taxes paid. The rate reconciliation disclosures will require specific categories and additional information for reconciling items that meet a quantitative threshold. The income taxes paid disclosures will require disaggregation by individual jurisdictions that are greater than 5% of total income taxes paid. The guidance will be effective for annual disclosures beginning in Fiscal 2026. Early adoption is permitted. The amendments are required to be applied on a prospective basis; however, retrospective application is permitted. The Company is evaluating the impact that adopting this guidance will have on VF's disclosures.

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Contract Balances

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

(In thousands)						June 2024									March 2024						June 2023
Contract assets (a)						$	3,188								$	2,393					$	2,645
Contract liabilities (b)						68,254									67,115						62,942

(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 months ended June 2024, the Company recognized $46.3 million of revenue that was included in the contract liability balance during the period, including 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 the timing differences between the Company's satisfaction of performance obligations and the customer's payment.

Performance Obligations

As of June 2024, the Company expects to recognize $75.8 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 June 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 June 2024
(In thousands)			Outdoor						Active						Work												Total
Channel revenues
Wholesale			$	441,881					$	435,264					$	136,644											$	1,013,789
Direct-to-consumer			345,290						499,957						33,933												879,180
Royalty			3,028						6,918						4,386												14,332
Total			$	790,199					$	942,139					$	174,963											$	1,907,301
Geographic revenues
Americas			$	373,400					$	526,726					$	144,643											$	1,044,769
Europe			264,181						270,153						18,522												552,856
Asia-Pacific			152,618						145,260						11,798												309,676
Total			$	790,199					$	942,139					$	174,963											$	1,907,301

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			Three Months Ended June 2023
(In thousands)			Outdoor						Active						Work												Total
Channel revenues
Wholesale			$	489,931					$	462,265					$	146,169											$	1,098,365
Direct-to-consumer			336,333						597,621						39,654												973,608
Royalty			3,433						6,123						4,807												14,363
Total			$	829,697					$	1,066,009					$	190,630											$	2,086,336
Geographic revenues
Americas			$	404,406					$	625,847					$	153,571											$	1,183,824
Europe			288,221						277,126						19,001												584,348
Asia-Pacific			137,070						163,036						18,058												318,164
Total			$	829,697					$	1,066,009					$	190,630											$	2,086,336

(In thousands)						June 2024									March 2024						June 2023
Finished products						$	2,063,417								$	1,718,676					$	2,731,511
Work-in-process						36,881									39,539						41,827
Raw materials						10,300									8,151						13,683
Total inventories						$	2,110,598								$	1,766,366					$	2,787,021

																					June 2024																					March 2024
(In thousands)						Weighted Average Amortization Period						Amortization Method									Cost						Accumulated Amortization						Net Carrying Amount									Net Carrying Amount
Amortizable intangible assets:
Customer relationships and other						19 years						Accelerated									$	261,408					$	189,927					$	71,481								$	74,963
Indefinite-lived intangible assets:
Trademarks and trade names																																	2,500,284									2,553,519
Intangible assets, net																																	$	2,571,765								$	2,628,482

During the three months ended June 2024, VF determined that a triggering event had occurred requiring impairment testing of the Supreme® indefinite-lived trademark intangible asset. VF's assessment gave consideration to the ongoing negotiations to sell the Supreme® brand. As a result of the impairment testing performed, VF recorded an impairment charge of $51.0 million to the Supreme® indefinite-lived trademark intangible asset related to an increase in the market-based discount rate applied. Refer to Note 15 for additional information on fair value measurements.

Amortization expense for the three months ended June 2024 was $3.3 million. Based on the carrying amounts of amortizable intangible assets noted above, estimated amortization expense for the next five years beginning in Fiscal 2025 is $13.2 million, $12.2 million, $11.7 million, $10.8 million and $9.8 million, respectively.

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Changes in goodwill are summarized by reportable segment as follows:

(In thousands)			Outdoor						Active						Work						Total
Balance, March 2024			$	205,868					$	1,203,046					$	51,500					$	1,460,414
Impairment charge			—						(94,000)						—						(94,000)
Foreign currency translation			383						(6,015)						—						(5,632)
Balance, June 2024			$	206,251					$	1,103,031					$	51,500					$	1,360,782

The Company leases certain retail locations, office space, distribution facilities, machinery and equipment, and vehicles. The substantial majority of these leases are operating leases. Total lease cost includes operating lease cost, variable lease cost, finance lease cost, short-term lease cost and gain recognized from a sale leaseback transaction. The components of lease cost were as follows:

						Three Months Ended June
(In thousands)						2024									2023
Operating lease cost						$	105,143								$	106,131
Other lease cost						22,231									35,319
Total lease cost						$	127,374								$	141,450

VF facilitates a voluntary supply chain finance ("SCF") program that enables a significant portion of our inventory suppliers to leverage VF's credit rating to receive payment from participating financial institutions prior to the payment date specified in the terms between VF and the supplier. The SCF program is administered through third-party platforms that allow participating suppliers to track payments from VF and elect which receivables, if any, to sell to the financial institutions. The transactions are at the sole discretion of both the suppliers and financial institutions, and VF is not a party to the agreements and has no economic interest in the supplier's decision to sell a receivable. The terms between VF and the supplier, including the amount due and scheduled payment terms (which are generally

within 90 days of the invoice date), are not impacted by a supplier's participation in the SCF program. All amounts due to suppliers that are eligible to participate in the SCF program are included in the accounts payable line item in VF's Consolidated Balance Sheets and VF payments made under the SCF program are reflected in cash flows from operating activities in VF's Consolidated Statements of Cash Flows. At June 2024, March 2024 and June 2023, the accounts payable line item in VF’s Consolidated Balance Sheets included total outstanding obligations of $843.0 million, $485.0 million and $931.0 million, respectively, due to suppliers that are eligible to participate in the SCF program.

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The components of pension cost for VF’s defined benefit plans were as follows:

						Three Months Ended June
(In thousands)						2024									2023
Service cost – benefits earned during the period						$	2,408								$	2,192
Interest cost on projected benefit obligations						11,680									11,812
Expected return on plan assets						(15,296)									(15,877)
Settlement charge						—									3,292
Amortization of deferred amounts:
Net deferred actuarial losses						5,046									4,232
Deferred prior service credits						(144)									(135)
Net periodic pension cost						$	3,694								$	5,516

Common Stock

During the three months ended June 2024, the Company did not purchase shares of Common Stock in open market transactions under its share repurchase program authorized by VF’s Board of Directors. These are treated as treasury stock transactions when shares are repurchased.

Common Stock outstanding is net of shares held in treasury which are, in substance, retired. There were no shares held in treasury at the end of June 2024, March 2024 or June 2023. The excess of the cost of treasury shares acquired over the $0.25 per share stated value of Common Stock is deducted from retained earnings (accumulated deficit).

Accumulated Other Comprehensive Loss

Comprehensive loss consists of net loss and specified components of other comprehensive income (loss), which relate to changes in assets and liabilities that are not included in net loss under GAAP but are instead deferred and accumulated within a separate component of stockholders’ equity in the balance sheet. VF’s comprehensive loss is presented in the Consolidated Statements of Comprehensive Loss. The deferred components of other comprehensive income (loss) are reported, net of related income taxes, in accumulated other comprehensive loss ("OCL") in stockholders’ equity, as follows:

(In thousands)						June 2024									March 2024						June 2023
Foreign currency translation and other						$	(887,892)								$	(868,439)					$	(872,800)
Defined benefit pension plans						(178,701)									(182,333)						(161,211)
Derivative financial instruments						12,966									(13,559)						(19,518)
Accumulated other comprehensive loss						$	(1,053,627)								$	(1,064,331)					$	(1,053,529)

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The changes in accumulated OCL, net of related taxes, were as follows:

			Three Months Ended June 2024
(In thousands)			Foreign Currency Translation and Other						Defined Benefit Pension Plans						Derivative Financial Instruments						Total
Balance, March 2024			$	(868,439)					$	(182,333)					$	(13,559)					$	(1,064,331)
Other comprehensive income (loss) before reclassifications			(19,453)						(10)						15,785						(3,678)
Amounts reclassified from accumulated other comprehensive loss			—						3,642						10,740						14,382
Net other comprehensive income (loss)			(19,453)						3,632						26,525						10,704
Balance, June 2024			$	(887,892)					$	(178,701)					$	12,966					$	(1,053,627)

			Three Months Ended June 2023
(In thousands)			Foreign Currency Translation and Other						Defined Benefit Pension Plans						Derivative Financial Instruments						Total
Balance, March 2023			$	(859,651)					$	(167,692)					$	7,825					$	(1,019,518)
Other comprehensive income (loss) before reclassifications			(13,149)						1,088						(18,602)						(30,663)
Amounts reclassified from accumulated other comprehensive loss			—						5,393						(8,741)						(3,348)
Net other comprehensive income (loss)			(13,149)						6,481						(27,343)						(34,011)
Balance, June 2023			$	(872,800)					$	(161,211)					$	(19,518)					$	(1,053,529)

Reclassifications out of accumulated OCL were as follows:

(In thousands)												Three Months Ended June
Details About Accumulated Other Comprehensive Loss Components			Affected Line Item in the Consolidated Statements of Operations
												2024									2023
Amortization of defined benefit pension plans:
Net deferred actuarial losses			Other income (expense), net									$	(5,046)								$	(4,232)
Deferred prior service credits			Other income (expense), net									144									135
Pension settlement charges			Other income (expense), net									—									(3,292)
Total before tax												(4,902)									(7,389)
Tax benefit												1,260									1,996
Net of tax												(3,642)									(5,393)
Gains (losses) on derivative financial instruments:
Foreign exchange contracts			Net revenues									(4,331)									1,090
Foreign exchange contracts			Cost of goods sold									(10,126)									8,075
Foreign exchange contracts			Selling, general and administrative expenses									(408)									1,301
Foreign exchange contracts			Other income (expense), net									(56)									(511)
Interest rate contracts			Interest expense									1,192									725
Total before tax												(13,729)									10,680
Tax benefit (expense)												2,989									(1,939)
Net of tax												(10,740)									8,741
Total reclassifications for the period, net of tax												$	(14,382)								$	3,348

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Stock Options Granted

During the three months ended June 2024, VF granted stock options to employees and nonemployee members of VF's Board of Directors to purchase 5,485,215 shares of its Common Stock at an exercise price of $12.35 per share. The exercise price of each option granted was equal to the fair market value of VF Common Stock on the date of grant. Employee stock options vest and become exercisable in equal annual installments over three years. Stock options granted to nonemployee members of VF's Board of Directors vest upon grant and become exercisable one year from the date of grant. All options have ten-year terms.

The grant date fair value of each option award was calculated using a lattice option-pricing valuation model, which incorporated a range of assumptions for inputs as follows:

						Three Months Ended June 2024
Expected volatility						37% to 53%
Weighted average expected volatility						47%
Expected term (in years)						5.5 to 7.2
Weighted average dividend yield						2.1%
Risk-free interest rate						4.54% to 5.43%
Weighted average fair value at date of grant						$4.93

Equity Awards Contingent Upon Shareholder Approval

The effective income tax rate for the three months ended June 2024 was 13.0% compared to 7.8% in the 2023 period. The three months ended June 2024 included a net discrete tax expense of $7.1 million, which was comprised primarily of a $3.6 million net tax expense related to unrecognized tax benefits and interest, and a $4.3 million tax expense related to stock compensation. Excluding the $7.1 million net discrete tax expense in the 2024 period, the effective income tax rate would have been 15.4%. The three months ended June 2023 included a net discrete tax expense of $0.2 million, which was comprised primarily of a $4.7 million net tax expense related to unrecognized tax benefits and interest, a $3.1 million tax expense related to stock compensation and a $7.5 million net tax benefit for interest on income tax receivables. Excluding the $0.2 million net discrete tax expense in the 2023 period, the effective income tax rate would have been 8.2%. Without discrete items, the effective income tax rate for the three months ended June 2024 increased by 7.2% compared with the 2023 period primarily due to the jurisdictional mix of earnings and year-to-date losses generated in the current year, including non-deductible goodwill impairment.

VF files a consolidated U.S. federal income tax return, as well as separate and combined income tax returns in numerous state and international jurisdictions. In the U.S., the Internal Revenue Service ("IRS") examinations for tax years through 2015 have been effectively settled. In addition, VF is currently subject to examination by various state and international tax authorities. Management regularly assesses the potential outcomes of both ongoing and future examinations for the current and prior years and has concluded that VF’s provision for income taxes is adequate. The outcome of any one examination is not expected to have a material impact on VF’s consolidated financial statements. Management believes that some of these audits and negotiations will conclude during the next 12 months.

During the three months ended June 2024, the amount of net unrecognized tax benefits and associated interest increased by $5.3 million to $308.1 million. Management believes that it is reasonably possible that the amount of unrecognized income tax benefits and interest may decrease during the next 12 months by approximately $4.1 million due to settlement of audits and expiration of statutes of limitations, of which $1.0 million would reduce income tax expense.

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VF's President and Chief Executive Officer, who is considered the Company's CODM, allocates resources and assesses performance based on a global brand view that represents VF's operating segments. The operating segments have been evaluated and combined into reportable segments because they meet the similar economic characteristics and qualitative aggregation criteria set forth in the relevant accounting guidance.

The Company's reportable segments have been identified as: Outdoor, Active and Work.

Financial information for VF's reportable segments is as follows:

						Three Months Ended June
(In thousands)						2024									2023
Segment revenues:
Outdoor						$	790,199								$	829,697
Active						942,139									1,066,009
Work						174,963									190,630
Total segment revenues						$	1,907,301								$	2,086,336
Segment profit (loss):
Outdoor						$	(83,415)								$	(43,661)
Active						98,549									123,782
Work						5,328									6,831
Total segment profit						20,462									86,952
Impairment of goodwill and intangible assets						(145,000)									—
Corporate and other expenses						(117,305)									(99,511)
Interest expense, net						(55,677)									(49,719)
Loss before income taxes						$	(297,520)								$	(62,278)

						Three Months Ended June
(In thousands, except per share amounts)						2024									2023
Net loss per common share – basic:
Net loss						$	(258,886)								$	(57,425)
Weighted average common shares outstanding						388,741									388,160
Net loss per common share						$	(0.67)								$	(0.15)
Net loss per common share – diluted:
Net loss						$	(258,886)								$	(57,425)
Weighted average common shares outstanding						388,741									388,160
Incremental shares from stock options and other dilutive securities						—									—
Adjusted weighted average common shares outstanding						388,741									388,160
Net loss per common share						$	(0.67)								$	(0.15)

In the three-month periods ended June 2024 and June 2023, the dilutive impacts of all outstanding stock options and other dilutive securities were excluded from dilutive shares as a result of the Company's net loss for the periods and, as such, their inclusion would have been anti-dilutive. As a result, a total of

22.6 million and 18.6 million potentially dilutive shares related to stock options and other dilutive securities were excluded from the diluted loss per share calculations for the three-month periods ended June 2024 and June 2023, respectively.

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Financial assets and financial liabilities measured and reported at fair value are classified in a three-level hierarchy that prioritizes the inputs used in the valuation process. A financial instrument’s categorization within the valuation hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The hierarchy is based on the observability and objectivity of the pricing inputs, as follows:

•Level 1 — Quoted prices in active markets for identical assets or liabilities.

•Level 2 — Significant directly observable data (other than Level 1 quoted prices) or significant indirectly observable

data through corroboration with observable market data. Inputs would normally be (i) quoted prices in active markets for similar assets or liabilities, (ii) quoted prices in inactive markets for identical or similar assets or liabilities, or (iii) information derived from or corroborated by observable market data.

•Level 3 — Prices or valuation techniques that require significant unobservable data inputs. These inputs would normally be VF’s own data and judgments about assumptions that market participants would use in pricing the asset or liability.

Recurring Fair Value Measurements

The following table summarizes financial assets and financial liabilities that are measured and recorded in the consolidated financial statements at fair value on a recurring basis:

			Total Fair Value						Fair Value Measurement Using (a)
(In thousands)									Level 1						Level 2						Level 3
June 2024
Financial assets:
Cash equivalents:
Money market funds			$	189,722					$	189,722					$	—					$	—
Time deposits			7,897						7,897						—						—
Derivative financial instruments			41,357						—						41,357						—
Deferred compensation and other			94,365						94,365						—						—
Financial liabilities:
Derivative financial instruments			27,578						—						27,578						—
Deferred compensation			89,570						—						89,570						—
			Total Fair Value						Fair Value Measurement Using (a)
(In thousands)									Level 1						Level 2						Level 3
March 2024
Financial assets:
Cash equivalents:
Money market funds			$	171,931					$	171,931					$	—					$	—
Time deposits			54,853						54,853						—						—
Derivative financial instruments			32,548						—						32,548						—
Deferred compensation and other			95,236						95,236						—						—
Financial liabilities:
Derivative financial instruments			40,234						—						40,234						—
Deferred compensation			90,804						—						90,804						—

(a)There were no transfers among the levels within the fair value hierarchy during the three months ended June 2024 or the year ended March 2024.

VF’s cash equivalents include money market funds and time deposits with maturities within three months of their purchase dates, that approximate fair value based on Level 1 measurements. The fair value of derivative financial instruments, which consist of foreign exchange forward contracts and interest rate swap contracts, is determined based on observable market inputs (Level 2), including spot and forward exchange rates for foreign currencies and interest rate forward curves, and considers the credit risk of the Company and its counterparties. VF’s deferred compensation assets primarily represent investments held within plan trusts as an

economic hedge of the related deferred compensation liabilities. These investments primarily include mutual funds (Level 1) that are valued based on quoted prices in active markets. Liabilities related to VF’s deferred compensation plans are recorded at amounts due to participants, based on the fair value of the participants’ selection of hypothetical investments.

All other significant financial assets and financial liabilities are recorded in the consolidated financial statements at cost, except life insurance contracts which are recorded at cash surrender value. These other financial assets and financial liabilities

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Summary of Derivative Financial Instruments

VF’s outstanding derivative financial instruments include foreign currency exchange forward contracts and interest rate swap contracts. Although derivatives meet the criteria for hedge accounting at the inception of the hedging relationship, a limited number of derivative contracts intended to hedge assets and liabilities are not designated as hedges for accounting purposes.

The notional amounts of all outstanding foreign currency exchange forward contracts were $3.1 billion at June 2024, $3.1 billion at March 2024 and $3.5 billion at June 2023, consisting primarily of contracts hedging exposures to the euro, British

pound, Canadian dollar, Swiss franc, Mexican peso, Polish zloty, Swedish krona, South Korean won, Chinese renminbi and Japanese yen. These derivative contracts have maturities up to 20 months.

The notional amount of VF's outstanding interest rate swap contracts was $500.0 million at June 2024, March 2024 and June 2023. These contracts hedge the cash flow risk of interest payments on VF's variable-rate delayed draw Term Loan ("DDTL") Agreement.

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)						June 2024									March 2024						June 2023									June 2024									March 2024						June 2023
Derivatives Designated as Hedging Instruments:
Foreign exchange contracts						$	38,160								$	29,657					$	27,902								$	(27,436)								$	(39,639)					$	(74,050)
Interest rate contracts						1,690									2,335						4,582									—									—						—
Total derivatives designated as hedging instruments						39,850									31,992						32,484									(27,436)									(39,639)						(74,050)
Derivatives Not Designated as Hedging Instruments:
Foreign exchange contracts						1,507									556						404									(142)									(595)						(7,978)
Total derivatives						$	41,357								$	32,548					$	32,888								$	(27,578)								$	(40,234)					$	(82,028)

VF records and presents the fair values of all of its derivative assets and liabilities in the Consolidated Balance Sheets on a gross basis, even though they are subject to master netting agreements. 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:

						June 2024															March 2024												June 2023
(In thousands)						Derivative Asset						Derivative Liability									Derivative Asset						Derivative Liability						Derivative Asset						Derivative Liability
Gross amounts presented in the Consolidated Balance Sheets						$	41,357					$	(27,578)								$	32,548					$	(40,234)					$	32,888					$	(82,028)
Gross amounts not offset in the Consolidated Balance Sheets						(6,699)						6,699									(11,322)						11,322						(27,128)						27,128
Net amounts						$	34,658					$	(20,879)								$	21,226					$	(28,912)					$	5,760					$	(54,900)

Derivatives are classified as current or noncurrent based on maturity dates, as follows:

(In thousands)									June 2024									March 2024						June 2023
Derivative Instruments			Balance Sheet Location
Foreign exchange contracts			Other current assets						$	33,562								$	26,366					$	26,145
Foreign exchange contracts			Accrued liabilities						(24,802)									(35,578)						(73,049)
Foreign exchange contracts			Other assets						6,105									3,847						2,161
Foreign exchange contracts			Other liabilities						(2,776)									(4,656)						(8,979)
Interest rate contracts			Other current assets						1,690									2,335						—
Interest rate contracts			Other assets						—									—						4,582

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Cash Flow Hedges

VF primarily uses foreign currency exchange forward contracts to hedge a portion of the exchange risk for its forecasted sales, inventory purchases, operating costs and certain intercompany transactions, including sourcing and management fees and royalties. The Company also uses interest rate swap contracts to hedge against a portion of the exposure related to its interest payments on its variable-rate debt. The effects of cash flow hedging included in VF’s Consolidated Statements of Comprehensive Loss and Consolidated Statements of Operations are summarized as follows:

(In thousands)						Gain (Loss) on Derivatives Recognized in Accumulated OCL Three Months Ended June
Cash Flow Hedging Relationships						2024									2023
Foreign exchange contracts						$	19,501								$	(29,160)
Interest rate contracts						520									6,420
Total						$	20,021								$	(22,740)

(In thousands)									Gain (Loss) Reclassified from Accumulated OCL into Net Loss Three Months Ended June
Cash Flow Hedging Relationships			Location of Gain (Loss)						2024									2023
Foreign exchange contracts			Net revenues						$	(4,331)								$	1,090
Foreign exchange contracts			Cost of goods sold						(10,126)									8,075
Foreign exchange contracts			Selling, general and administrative expenses						(408)									1,301
Foreign exchange contracts			Other income (expense), net						(56)									(511)
Interest rate contracts			Interest expense						1,192									725
Total									$	(13,729)								$	10,680

---

The Company incurs restructuring charges related to strategic initiatives and cost optimization of business activities. A description of significant restructuring programs and other restructuring charges is provided below.

Reinvent

On October 30, 2023, VF introduced Reinvent, a transformation program to enhance focus on brand-building and to improve operating performance and allow VF to achieve its full potential. The Company currently estimates it will incur approximately $140.0 million to $160.0 million in restructuring charges in connection with Reinvent, and that substantially all actions will be completed by the end of Fiscal 2025. Of the total estimated

charges, the Company anticipates that approximately 70% will relate to severance and employee-related benefits and the remainder will primarily relate to asset impairments and write-downs. Cash payments are generally expected to be paid within one year of charges incurred. During the three months ended June 2024, $12.3 million of cash payments related to the Reinvent charges were made.

The type of cost and respective location of restructuring charges related to Reinvent for the three months ended June 2024 and the cumulative charges recorded since the inception of Reinvent were as follows:

(In thousands)									Three Months Ended June 2024						Cumulative Charges
Type of Cost			Statement of Operations Location
Severance and employee-related benefits			Selling, general and administrative expenses						$	11,141					$	75,963
Severance and employee-related benefits			Cost of goods sold						181						4,691
Contract termination and other			Selling, general and administrative expenses						737						737
Contract termination and other			Cost of goods sold						157						157
Asset impairments and write-downs			Selling, general and administrative expenses						500						39,886
Accelerated depreciation			Selling, general and administrative expenses						861						861
Accelerated depreciation			Cost of goods sold						17						17
Total Reinvent Charges									$	13,594					$	122,312

All restructuring charges related to Reinvent recognized in the three months ended June 2024 as well as all the cumulative charges were reported within 'Corporate and other' expenses in Note 13, Reportable Segment Information.

Other Restructuring Charges

Other Restructuring Charges are related to various approved initiatives. The type of cost and respective location of Other Restructuring Charges for the three months ended June 2024 and 2023 were as follows:

									Three Months Ended June
(In thousands)									2024									2023
Type of Cost			Statement of Operations Location
Severance and employee-related benefits			Selling, general and administrative expenses						$	—								$	676
Contract termination and other			Selling, general and administrative expenses						437									19
Total Other Restructuring Charges									$	437								$	695

Other Restructuring Charges by business segment were as follows:

						Three Months Ended June
(In thousands)						2024									2023
Outdoor						$	—								$	242
Active						—									434
Work						—									—
Corporate and other						437									19
Total						$	437								$	695

---

Consolidated Restructuring Charges

The activity in the restructuring accrual related to Reinvent and Other Restructuring Charges for the three-month period ended June 2024 was as follows:

(In thousands)			Severance						Other						Total
Accrual at March 2024			$	60,331					$	345					$	60,676
Charges			11,322						894						12,216
Cash payments and settlements			(13,527)						(897)						(14,424)
Adjustments to accruals			(180)						—						(180)
Impact of foreign currency			(15)						—						(15)
Accrual at June 2024			$	57,931					$	342					$	58,273

On July 16, 2024, VF entered into a definitive Stock and Asset Purchase Agreement (the "Purchase Agreement") with EssilorLuxottica S.A. to sell the Supreme® brand business for an aggregate base purchase price of $1.5 billion in cash, subject to customary adjustments for cash, indebtedness, working capital and transaction expenses as more fully set forth in the Purchase Agreement.

The divestiture of the Supreme® brand business is expected to meet the "held-for-sale" criteria in the second quarter of Fiscal 2025, and VF has determined that the sale represents a strategic shift that will have a significant effect on VF's operations. As such, the results of operations, including any expected loss recognized, and the related cash flows will be reclassified to discontinued operations on the Consolidated Statements of Operations and Consolidated Statements of Cash Flows, respectively, for all periods presented beginning in the second quarter of Fiscal 2025. In addition, the assets and liabilities will be presented separately on the Consolidated Balance Sheets for both current and prior periods beginning in the second quarter of Fiscal 2025. VF could incur a loss upon closing the transaction, but is unable to estimate with certainty, pending

determination of amounts to be transferred. The transaction is expected to close by the end of the third quarter of Fiscal 2025.

On July 23, 2024, VF’s Board of Directors declared a quarterly cash dividend of $0.09 per share, payable on September 18, 2024 to stockholders of record on September 10, 2024.

On August 2, 2024, VF entered into amendments to its $2.25 billion senior unsecured revolving line of credit (the “Global Credit Facility”) and its DDTL Agreement. The amended agreements define restrictive covenants, including a consolidated net indebtedness to consolidated net capitalization financial ratio covenant. The calculation of consolidated net indebtedness is net of unrestricted cash and the calculation of consolidated net capitalization permits certain addbacks, including non-cash impairment charges and material impacts resulting from adverse legal rulings, as defined in the amended agreements. Additionally, the amended agreements require the repayment of the DDTL upon the completion of the sale of the Supreme® brand business.

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v3.24.2.u1

Cover - shares	3 Months Ended
	Jun. 29, 2024	Jul. 27, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 29, 2024
Document Transition Report	false
Entity File Number	1-5256
Entity Registrant Name	V. F. CORPORATION
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	23-1180120
Entity Address, Address Line One	1551 Wewatta Street
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80202
City Area Code	720
Local Phone Number	778-4000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		389,183,344
Amendment Flag	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
Entity Central Index Key	0000103379
Current Fiscal Year End Date	--03-29
Common Stock, without par value, stated capital, $0.25 per share
Document Information [Line Items]
Title of 12(b) Security	Common Stock, without par value, stated capital, $0.25 per share
Trading Symbol	VFC
Security Exchange Name	NYSE
4.125% Senior Notes due 2026
Document Information [Line Items]
Title of 12(b) Security	4.125% Senior Notes due 2026
Trading Symbol	VFC26
Security Exchange Name	NYSE
0.250% Senior Notes due 2028
Document Information [Line Items]
Title of 12(b) Security	0.250% Senior Notes due 2028
Trading Symbol	VFC28
Security Exchange Name	NYSE
4.250% Senior Notes due 2029
Document Information [Line Items]
Title of 12(b) Security	4.250% Senior Notes due 2029
Trading Symbol	VFC29
Security Exchange Name	NYSE
0.625% Senior Notes due 2032
Document Information [Line Items]
Title of 12(b) Security	0.625% Senior Notes due 2032
Trading Symbol	VFC32
Security Exchange Name	NYSE

v3.24.2.u1

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024	Jul. 01, 2023
Current assets
Cash and equivalents	$ 637,420	$ 674,605	$ 806,529
Accounts receivable, less allowance for doubtful accounts of: June 2024 - $28,542; March 2024 - $26,369; June 2023 - $33,076	1,055,571	1,273,965	1,214,223
Inventories	2,110,598	1,766,366	2,787,021
Other current assets	545,542	512,011	405,784
Total current assets	4,349,131	4,226,947	5,213,557
Property, plant and equipment, net	794,212	823,886	943,163
Intangible assets, net	2,571,765	2,628,482	2,640,827
Goodwill	1,360,782	1,460,414	1,973,615
Operating lease right-of-use assets	1,332,950	1,330,361	1,349,725
Other assets	1,132,523	1,142,873	1,923,011
TOTAL ASSETS	11,541,363	11,612,963	14,043,898
Current liabilities
Short-term borrowings	263,709	263,938	58,520
Current portion of long-term debt	1,749,601	1,000,721	928,736
Accounts payable	1,157,755	817,128	1,282,313
Accrued liabilities	1,237,909	1,375,192	1,546,866
Total current liabilities	4,408,974	3,456,979	3,816,435
Long-term debt	3,940,668	4,702,284	5,722,448
Operating lease liabilities	1,167,415	1,156,858	1,155,852
Other liabilities	636,401	638,477	632,400
Total liabilities	10,153,458	9,954,598	11,327,135
Commitments and contingencies
Stockholders’ equity
Preferred Stock, par value $1; shares authorized, 25,000,000; no shares outstanding at June 2024, March 2024 or June 2023	0	0	0
Common Stock, stated value $0.25; shares authorized, 1,200,000,000; shares outstanding at June 2024 - 389,181,642; March 2024 - 388,836,219; June 2023 - 388,836,545	97,295	97,209	97,209
Additional paid-in capital	3,580,175	3,600,071	3,733,777
Accumulated other comprehensive loss	(1,053,627)	(1,064,331)	(1,053,529)
Accumulated deficit	(1,235,938)	(974,584)	(60,694)
Total stockholders’ equity	1,387,905	1,658,365	2,716,763
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 11,541,363	$ 11,612,963	$ 14,043,898

v3.24.2.u1

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024	Jul. 01, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 28,542	$ 26,369	$ 33,076
Preferred stock, par value (in USD per share)	$ 1	$ 1	$ 1
Preferred stock, shares authorized (in shares)	25,000,000	25,000,000	25,000,000
Preferred stock, shares outstanding (in shares)	0	0	0
Common stock, par value (in USD per share)	$ 0.25	$ 0.25	$ 0.25
Common stock, shares authorized (in shares)	1,200,000,000	1,200,000,000	1,200,000,000
Common stock, shares outstanding (in shares)	389,181,642	388,836,219	388,836,545

v3.24.2.u1

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Income Statement [Abstract]
Net revenues	$ 1,907,301	$ 2,086,336
Costs and operating expenses
Cost of goods sold	915,643	985,269
Selling, general and administrative expenses	1,086,551	1,110,059
Impairment of goodwill and intangible assets	145,000	0
Total costs and operating expenses	2,147,194	2,095,328
Operating loss	(239,893)	(8,992)
Interest income	3,554	5,494
Interest expense	(59,231)	(55,213)
Other income (expense), net	(1,950)	(3,567)
Loss before income taxes	(297,520)	(62,278)
Income tax benefit	(38,634)	(4,853)
Net loss	$ (258,886)	$ (57,425)
Net loss per common share
Basic (in USD per share)	$ (0.67)	$ (0.15)
Diluted (in USD per share)	$ (0.67)	$ (0.15)
Weighted average shares outstanding
Basic (in shares)	388,741	388,160
Diluted (in shares)	388,741	388,160

v3.24.2.u1

Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (258,886)	$ (57,425)
Foreign currency translation and other
Losses arising during the period	(15,773)	(16,530)
Income tax effect	(3,680)	3,381
Defined benefit pension plans
Current period actuarial gains	0	1,001
Amortization of net deferred actuarial losses	5,046	4,232
Amortization of deferred prior service credits	(144)	(135)
Reclassification of net actuarial loss from settlement charges	0	3,292
Income tax effect	(1,270)	(1,909)
Derivative financial instruments
Gains (losses) arising during the period	20,021	(22,740)
Income tax effect	(4,236)	4,138
Reclassification of net (gains) losses realized	13,729	(10,680)
Income tax effect	(2,989)	1,939
Other comprehensive income (loss)	10,704	(34,011)
Comprehensive loss	$ (248,182)	$ (91,436)

v3.24.2.u1

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
OPERATING ACTIVITIES
Net loss	$ (258,886)	$ (57,425)
Adjustments to reconcile net loss to cash provided by operating activities:
Impairment of goodwill and intangible assets	145,000	0
Depreciation and amortization	67,781	67,075
Reduction in the carrying amount of right-of-use assets	92,495	95,728
Stock-based compensation	14,662	15,784
Provision for doubtful accounts	4,424	4,633
Pension expense in excess of (less than) contributions	2,219	(10,661)
Other, net	(20,220)	10,645
Changes in operating assets and liabilities:
Accounts receivable	202,973	395,110
Inventories	(356,053)	(493,720)
Accounts payable	345,494	344,482
Income taxes	(82,414)	(30,667)
Accrued liabilities	(67,785)	(66,581)
Operating lease right-of-use assets and liabilities	(87,786)	(102,688)
Other assets and liabilities	17,926	(8,140)
Cash provided by operating activities	19,830	163,575
INVESTING ACTIVITIES
Proceeds from sale of assets	45,596	1,170
Capital expenditures	(25,187)	(61,763)
Software purchases	(16,106)	(22,827)
Other, net	(15,364)	(7,142)
Cash used by investing activities	(11,061)	(90,562)
FINANCING ACTIVITIES
Net increase (decrease) in short-term borrowings	(230)	47,029
Payments on long-term debt	(275)	(268)
Payment of debt issuance costs	0	(346)
Cash dividends paid	(35,015)	(116,575)
Proceeds from issuance of Common Stock, net of payments for tax withholdings	(1,924)	(1,725)
Cash used by financing activities	(37,444)	(71,885)
Effect of foreign currency rate changes on cash, cash equivalents and restricted cash	(8,340)	(9,326)
Net change in cash, cash equivalents and restricted cash	(37,015)	(8,198)
Cash, cash equivalents and restricted cash – beginning of year	676,957	816,319
Cash, cash equivalents and restricted cash – end of period	639,942	808,121
Balances per Consolidated Balance Sheets:
Cash and cash equivalents	637,420	806,529
Other current assets	2,397	1,465
Other assets	125	127
Total cash, cash equivalents and restricted cash	$ 639,942	$ 808,121

v3.24.2.u1

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit
Beginning balance (in shares) at Apr. 01, 2023		388,665,531
Beginning balance at Apr. 01, 2023	$ 2,910,713	$ 97,166	$ 3,775,979	$ (1,019,518)	$ 57,086
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(57,425)				(57,425)
Dividends on common stock	(116,575)		(59,489)		(57,086)
Stock-based compensation, net (in shares)		171,014
Stock-based compensation, net	14,061	$ 43	17,287		(3,269)
Foreign currency translation and other	(13,149)			(13,149)
Defined benefit pension plans	6,481			6,481
Derivative financial instruments	$ (27,343)			(27,343)
Ending balance (in shares) at Jul. 01, 2023	388,836,545	388,836,545
Ending balance at Jul. 01, 2023	$ 2,716,763	$ 97,209	3,733,777	(1,053,529)	(60,694)
Beginning balance (in shares) at Mar. 30, 2024	388,836,219	388,836,219
Beginning balance at Mar. 30, 2024	$ 1,658,365	$ 97,209	3,600,071	(1,064,331)	(974,584)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(258,886)				(258,886)
Dividends on common stock	(35,015)		(35,015)
Stock-based compensation, net (in shares)		345,423
Stock-based compensation, net	12,737	$ 86	15,119		(2,468)
Foreign currency translation and other	(19,453)			(19,453)
Defined benefit pension plans	3,632			3,632
Derivative financial instruments	$ 26,525			26,525
Ending balance (in shares) at Jun. 29, 2024	389,181,642	389,181,642
Ending balance at Jun. 29, 2024	$ 1,387,905	$ 97,295	$ 3,580,175	$ (1,053,627)	$ (1,235,938)

v3.24.2.u1

Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Statement of Stockholders' Equity [Abstract]
Dividends on Common Stock (in USD per share)	$ 0.09	$ 0.30

v3.24.2.u1

BASIS OF PRESENTATION	3 Months Ended
	Jun. 29, 2024
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION Fiscal Year VF Corporation (together with its subsidiaries, collectively known as “VF” or the “Company”) uses a 52/53 week fiscal year ending on the Saturday closest to March 31 of each year. The Company's current fiscal year runs from March 31, 2024 through March 29, 2025 (“Fiscal 2025”). Accordingly, this Form 10-Q presents our first quarter of Fiscal 2025. For presentation purposes herein, all references to periods ended June 2024 and June 2023 relate to the fiscal periods ended on June 29, 2024 and July 1, 2023, respectively. References to March 2024 relate to information as of March 30, 2024. Basis of Presentation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X and do not include all of the information and notes required by generally accepted accounting principles in the United States of America (“GAAP”) for complete financial statements. Similarly, the March 2024 consolidated balance sheet data was derived from audited financial statements but does not include all disclosures required by GAAP. In the opinion of management, the accompanying unaudited interim consolidated financial statements contain all normal and recurring adjustments necessary to fairly state the consolidated financial position, results of operations and cash flows of VF for the interim periods presented. Operating results for the three months ended June 2024 are not necessarily indicative of results that may be expected for any other interim period or for Fiscal 2025. For further information, refer to the consolidated financial statements and notes included in VF’s Annual Report on Form 10-K for the year ended March 30, 2024 (“Fiscal 2024 Form 10-K”). Certain prior year amounts have been reclassified to conform to the Fiscal 2025 presentation. Use of Estimates In preparing the interim consolidated financial statements, management makes estimates and assumptions that affect amounts reported in the interim consolidated financial statements and accompanying notes. Actual results may differ from those estimates.

v3.24.2.u1

RECENTLY ADOPTED AND ISSUED ACCOUNTING STANDARDS	3 Months Ended
	Jun. 29, 2024
Accounting Changes and Error Corrections [Abstract]
RECENTLY ADOPTED AND ISSUED ACCOUNTING STANDARDS	RECENTLY ADOPTED AND ISSUED ACCOUNTING STANDARDS Recently Adopted Accounting Standards In September 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2022-04, "Liabilities — Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations". This guidance requires companies with supplier finance programs to disclose sufficient qualitative and quantitative information about the program to allow a user of the financial statements to understand the nature of, activity in, and potential magnitude of the program. The guidance became effective for VF in the first quarter of Fiscal 2024, except for the rollforward information that will be effective for annual periods beginning in Fiscal 2025 on a prospective basis. The Company adopted the required guidance in the first quarter of Fiscal 2024 and will disclose the rollforward information in our Annual Report on Form 10-K for the year ended March 29, 2025. Refer to Note 8 for disclosures related to the Company's supply chain financing program. Recently Issued Accounting Standards In November 2023, the FASB issued ASU No. 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures", which updates reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses that are regularly provided to the individual or group identified as the chief operating decision maker ("CODM"). The guidance also requires disclosure of the title and position of the CODM and how reported measures of segment profit or loss are used to assess performance and allocate resources. The guidance will be effective for annual disclosures beginning in Fiscal 2025, and has expanded requirements to include all disclosures about a reportable segment's profit or loss and assets in subsequent interim periods. Early adoption is permitted. The guidance requires retrospective application to all prior periods presented in the financial statements. The Company is evaluating the impact that adopting this guidance will have on VF's disclosures. In December 2023, the FASB issued ASU No. 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures", which is intended to enhance the transparency and decision usefulness of income tax disclosures by requiring that an entity, on an annual basis, disclose additional income tax information, primarily related to the rate reconciliation and income taxes paid. The rate reconciliation disclosures will require specific categories and additional information for reconciling items that meet a quantitative threshold. The income taxes paid disclosures will require disaggregation by individual jurisdictions that are greater than 5% of total income taxes paid. The guidance will be effective for annual disclosures beginning in Fiscal 2026. Early adoption is permitted. The amendments are required to be applied on a prospective basis; however, retrospective application is permitted. The Company is evaluating the impact that adopting this guidance will have on VF's disclosures.

v3.24.2.u1

REVENUES	3 Months Ended
	Jun. 29, 2024
Revenue from Contract with Customer [Abstract]
REVENUES	REVENUES Contract Balances The following table provides information about contract assets and contract liabilities: (In thousands) June 2024 March 2024 June 2023 Contract assets (a) $ 3,188  $ 2,393  $ 2,645  Contract liabilities (b) 68,254  67,115  62,942  (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 months ended June 2024, the Company recognized $46.3 million of revenue that was included in the contract liability balance during the period, including 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 the timing differences between the Company's satisfaction of performance obligations and the customer's payment. Performance Obligations As of June 2024, the Company expects to recognize $75.8 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 June 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 June 2024 (In thousands) Outdoor Active Work Total Channel revenues Wholesale $ 441,881  $ 435,264  $ 136,644  $ 1,013,789  Direct-to-consumer 345,290  499,957  33,933  879,180  Royalty 3,028  6,918  4,386  14,332  Total $ 790,199  $ 942,139  $ 174,963  $ 1,907,301  Geographic revenues Americas $ 373,400  $ 526,726  $ 144,643  $ 1,044,769  Europe 264,181  270,153  18,522  552,856  Asia-Pacific 152,618  145,260  11,798  309,676  Total $ 790,199  $ 942,139  $ 174,963  $ 1,907,301  Three Months Ended June 2023 (In thousands) Outdoor Active Work Total Channel revenues Wholesale $ 489,931  $ 462,265  $ 146,169  $ 1,098,365  Direct-to-consumer 336,333  597,621  39,654  973,608  Royalty 3,433  6,123  4,807  14,363  Total $ 829,697  $ 1,066,009  $ 190,630  $ 2,086,336  Geographic revenues Americas $ 404,406  $ 625,847  $ 153,571  $ 1,183,824  Europe 288,221  277,126  19,001  584,348  Asia-Pacific 137,070  163,036  18,058  318,164  Total $ 829,697  $ 1,066,009  $ 190,630  $ 2,086,336

v3.24.2.u1

INVENTORIES	3 Months Ended
	Jun. 29, 2024
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES (In thousands) June 2024 March 2024 June 2023 Finished products $ 2,063,417  $ 1,718,676  $ 2,731,511  Work-in-process 36,881  39,539  41,827  Raw materials 10,300  8,151  13,683  Total inventories $ 2,110,598  $ 1,766,366  $ 2,787,021

v3.24.2.u1

INTANGIBLE ASSETS	3 Months Ended
	Jun. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	INTANGIBLE ASSETS       June 2024 March 2024 (In thousands) Weighted Average Amortization Period Amortization Method Cost Accumulated Amortization Net Carrying Amount Net Carrying Amount Amortizable intangible assets: Customer relationships and other 19 years Accelerated $ 261,408  $ 189,927  $ 71,481  $ 74,963  Indefinite-lived intangible assets: Trademarks and trade names 2,500,284  2,553,519  Intangible assets, net $ 2,571,765  $ 2,628,482  During the three months ended June 2024, VF determined that a triggering event had occurred requiring impairment testing of the Supreme® indefinite-lived trademark intangible asset. VF's assessment gave consideration to the ongoing negotiations to sell the Supreme® brand. As a result of the impairment testing performed, VF recorded an impairment charge of $51.0 million to the Supreme® indefinite-lived trademark intangible asset related to an increase in the market-based discount rate applied. Refer to Note 15 for additional information on fair value measurements. Amortization expense for the three months ended June 2024 was $3.3 million. Based on the carrying amounts of amortizable intangible assets noted above, estimated amortization expense for the next five years beginning in Fiscal 2025 is $13.2 million, $12.2 million, $11.7 million, $10.8 million and $9.8 million, respectively.

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GOODWILL	3 Months Ended
	Jun. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL Changes in goodwill are summarized by reportable segment as follows: (In thousands) Outdoor Active Work Total Balance, March 2024 $ 205,868  $ 1,203,046  $ 51,500  $ 1,460,414  Impairment charge —  (94,000) —  (94,000) Foreign currency translation 383  (6,015) —  (5,632) Balance, June 2024 $ 206,251  $ 1,103,031  $ 51,500  $ 1,360,782  During the three months ended June 2024, VF determined that a triggering event had occurred requiring impairment testing of the Supreme reporting unit goodwill. VF's assessment gave consideration to the ongoing negotiations to sell the Supreme reporting unit. As a result of the impairment testing performed, VF recorded an impairment charge of $94.0 million to the Supreme reporting unit goodwill related to the estimates of fair value subsequently confirmed by the transaction price discussed in Note 18. The Supreme reporting unit is part of the Active segment. Refer to Note 15 for additional information on fair value measurements. Accumulated impairment charges for the Outdoor and Work segments were $769.0 million and $61.8 million, respectively, as of June 2024 and March 2024. Accumulated impairment charges for the Active segment were $488.1 million and $394.1 million as of June 2024 and March 2024, respectively.

v3.24.2.u1

LEASES	3 Months Ended
	Jun. 29, 2024
Leases [Abstract]
LEASES	LEASES The Company leases certain retail locations, office space, distribution facilities, machinery and equipment, and vehicles. The substantial majority of these leases are operating leases. Total lease cost includes operating lease cost, variable lease cost, finance lease cost, short-term lease cost and gain recognized from a sale leaseback transaction. The components of lease cost were as follows: Three Months Ended June (In thousands) 2024 2023 Operating lease cost $ 105,143  $ 106,131  Other lease cost 22,231  35,319  Total lease cost $ 127,374  $ 141,450  During the three months ended June 2024, the Company entered into a sale leaseback transaction for certain warehouse real estate and related assets. The transaction qualified as a sale, and thus the Company recognized a gain of $15.5 million in the selling, general and administrative expenses line item in VF's Consolidated Statement of Operations for the three months ended June 2024. During the three months ended June 2024 and 2023, the Company paid $105.4 million and $114.2 million for operating leases, respectively. During the three months ended June 2024 and 2023, the Company obtained $102.7 million and $71.8 million of right-of-use assets in exchange for lease liabilities, respectively.
LEASES	LEASES The Company leases certain retail locations, office space, distribution facilities, machinery and equipment, and vehicles. The substantial majority of these leases are operating leases. Total lease cost includes operating lease cost, variable lease cost, finance lease cost, short-term lease cost and gain recognized from a sale leaseback transaction. The components of lease cost were as follows: Three Months Ended June (In thousands) 2024 2023 Operating lease cost $ 105,143  $ 106,131  Other lease cost 22,231  35,319  Total lease cost $ 127,374  $ 141,450  During the three months ended June 2024, the Company entered into a sale leaseback transaction for certain warehouse real estate and related assets. The transaction qualified as a sale, and thus the Company recognized a gain of $15.5 million in the selling, general and administrative expenses line item in VF's Consolidated Statement of Operations for the three months ended June 2024. During the three months ended June 2024 and 2023, the Company paid $105.4 million and $114.2 million for operating leases, respectively. During the three months ended June 2024 and 2023, the Company obtained $102.7 million and $71.8 million of right-of-use assets in exchange for lease liabilities, respectively.

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SUPPLY CHAIN FINANCING PROGRAM	3 Months Ended
	Jun. 29, 2024
Receivables [Abstract]
SUPPLY CHAIN FINANCING PROGRAM	SUPPLY CHAIN FINANCING PROGRAM VF facilitates a voluntary supply chain finance ("SCF") program that enables a significant portion of our inventory suppliers to leverage VF's credit rating to receive payment from participating financial institutions prior to the payment date specified in the terms between VF and the supplier. The SCF program is administered through third-party platforms that allow participating suppliers to track payments from VF and elect which receivables, if any, to sell to the financial institutions. The transactions are at the sole discretion of both the suppliers and financial institutions, and VF is not a party to the agreements and has no economic interest in the supplier's decision to sell a receivable. The terms between VF and the supplier, including the amount due and scheduled payment terms (which are generally within 90 days of the invoice date), are not impacted by a supplier's participation in the SCF program. All amounts due to suppliers that are eligible to participate in the SCF program are included in the accounts payable line item in VF's Consolidated Balance Sheets and VF payments made under the SCF program are reflected in cash flows from operating activities in VF's Consolidated Statements of Cash Flows. At June 2024, March 2024 and June 2023, the accounts payable line item in VF’s Consolidated Balance Sheets included total outstanding obligations of $843.0 million, $485.0 million and $931.0 million, respectively, due to suppliers that are eligible to participate in the SCF program.

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PENSION PLANS	3 Months Ended
	Jun. 29, 2024
Retirement Benefits [Abstract]
PENSION PLANS	PENSION PLANS The components of pension cost for VF’s defined benefit plans were as follows:   Three Months Ended June (In thousands) 2024 2023 Service cost – benefits earned during the period $ 2,408  $ 2,192  Interest cost on projected benefit obligations 11,680  11,812  Expected return on plan assets (15,296) (15,877) Settlement charge —  3,292  Amortization of deferred amounts: Net deferred actuarial losses 5,046  4,232  Deferred prior service credits (144) (135) Net periodic pension cost $ 3,694  $ 5,516  VF has reported the service cost component of net periodic pension cost in operating loss and the other components, which include interest cost, expected return on plan assets, settlement charges and amortization of deferred actuarial losses and prior service credits, in the other income (expense), net line item in the Consolidated Statements of Operations. VF contributed $1.5 million to its defined benefit plans during the three months ended June 2024, and intends to make approximately $7.7 million of contributions during the remainder of Fiscal 2025. VF recorded a $3.3 million settlement charge in the other income (expense), net line item in the Consolidated Statement of Operations for the three months ended June 2023. The settlement charge related to the recognition of deferred actuarial losses resulting from lump-sum payments of retirement benefits in the supplemental defined benefit pension plan. Actuarial assumptions used in the interim valuation were reviewed and revised as appropriate.

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CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS	3 Months Ended
	Jun. 29, 2024
Equity [Abstract]
CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS	CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS Common Stock During the three months ended June 2024, the Company did not purchase shares of Common Stock in open market transactions under its share repurchase program authorized by VF’s Board of Directors. These are treated as treasury stock transactions when shares are repurchased. Common Stock outstanding is net of shares held in treasury which are, in substance, retired. There were no shares held in treasury at the end of June 2024, March 2024 or June 2023. The excess of the cost of treasury shares acquired over the $0.25 per share stated value of Common Stock is deducted from retained earnings (accumulated deficit). Accumulated Other Comprehensive Loss Comprehensive loss consists of net loss and specified components of other comprehensive income (loss), which relate to changes in assets and liabilities that are not included in net loss under GAAP but are instead deferred and accumulated within a separate component of stockholders’ equity in the balance sheet. VF’s comprehensive loss is presented in the Consolidated Statements of Comprehensive Loss. The deferred components of other comprehensive income (loss) are reported, net of related income taxes, in accumulated other comprehensive loss ("OCL") in stockholders’ equity, as follows: (In thousands) June 2024 March 2024 June 2023 Foreign currency translation and other $ (887,892) $ (868,439) $ (872,800) Defined benefit pension plans (178,701) (182,333) (161,211) Derivative financial instruments 12,966  (13,559) (19,518) Accumulated other comprehensive loss $ (1,053,627) $ (1,064,331) $ (1,053,529) The changes in accumulated OCL, net of related taxes, were as follows:   Three Months Ended June 2024 (In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total Balance, March 2024 $ (868,439) $ (182,333) $ (13,559) $ (1,064,331) Other comprehensive income (loss) before reclassifications (19,453) (10) 15,785  (3,678) Amounts reclassified from accumulated other comprehensive loss —  3,642  10,740  14,382  Net other comprehensive income (loss) (19,453) 3,632  26,525  10,704  Balance, June 2024 $ (887,892) $ (178,701) $ 12,966  $ (1,053,627)   Three Months Ended June 2023 (In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total Balance, March 2023 $ (859,651) $ (167,692) $ 7,825  $ (1,019,518) Other comprehensive income (loss) before reclassifications (13,149) 1,088  (18,602) (30,663) Amounts reclassified from accumulated other comprehensive loss —  5,393  (8,741) (3,348) Net other comprehensive income (loss) (13,149) 6,481  (27,343) (34,011) Balance, June 2023 $ (872,800) $ (161,211) $ (19,518) $ (1,053,529) Reclassifications out of accumulated OCL were as follows: (In thousands) Three Months Ended June Details About Accumulated Other Comprehensive Loss Components Affected Line Item in the Consolidated Statements of Operations 2024 2023 Amortization of defined benefit pension plans: Net deferred actuarial losses Other income (expense), net $ (5,046) $ (4,232) Deferred prior service credits Other income (expense), net 144  135  Pension settlement charges Other income (expense), net —  (3,292) Total before tax (4,902) (7,389) Tax benefit 1,260  1,996  Net of tax (3,642) (5,393) Gains (losses) on derivative financial instruments: Foreign exchange contracts Net revenues (4,331) 1,090  Foreign exchange contracts Cost of goods sold (10,126) 8,075  Foreign exchange contracts Selling, general and administrative expenses (408) 1,301  Foreign exchange contracts Other income (expense), net (56) (511) Interest rate contracts Interest expense 1,192  725  Total before tax (13,729) 10,680  Tax benefit (expense) 2,989  (1,939) Net of tax (10,740) 8,741  Total reclassifications for the period, net of tax $ (14,382) $ 3,348

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STOCK-BASED COMPENSATION	3 Months Ended
	Jun. 29, 2024
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Stock Options Granted During the three months ended June 2024, VF granted stock options to employees and nonemployee members of VF's Board of Directors to purchase 5,485,215 shares of its Common Stock at an exercise price of $12.35 per share. The exercise price of each option granted was equal to the fair market value of VF Common Stock on the date of grant. Employee stock options vest and become exercisable in equal annual installments over three years. Stock options granted to nonemployee members of VF's Board of Directors vest upon grant and become exercisable one year from the date of grant. All options have ten-year terms. The grant date fair value of each option award was calculated using a lattice option-pricing valuation model, which incorporated a range of assumptions for inputs as follows:   Three Months Ended June 2024 Expected volatility 37% to 53% Weighted average expected volatility 47% Expected term (in years) 5.5 to 7.2 Weighted average dividend yield 2.1% Risk-free interest rate 4.54% to 5.43% Weighted average fair value at date of grant $4.93 Equity Awards Contingent Upon Shareholder Approval During the three months ended June 2024, VF contingently granted certain equity awards under VF's 1996 Stock Compensation Plan (the “1996 Plan”) as part of VF’s regular annual grant program. Grants for performance-based restricted stock units (“RSUs”) and nonperformance-based RSUs, totaling 3,642,883 shares, were contingent upon shareholder approval of an amendment and restatement of VF’s 1996 Plan. Proposed changes to the 1996 Plan included an increase in the number of shares of common stock available for awards. Shareholders approved the proposed changes to the 1996 Plan at the 2024 Annual Meeting of Shareholders held on July 23, 2024, which is the accounting grant date for the contingently awarded RSUs.

v3.24.2.u1

INCOME TAXES	3 Months Ended
	Jun. 29, 2024
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The effective income tax rate for the three months ended June 2024 was 13.0% compared to 7.8% in the 2023 period. The three months ended June 2024 included a net discrete tax expense of $7.1 million, which was comprised primarily of a $3.6 million net tax expense related to unrecognized tax benefits and interest, and a $4.3 million tax expense related to stock compensation. Excluding the $7.1 million net discrete tax expense in the 2024 period, the effective income tax rate would have been 15.4%. The three months ended June 2023 included a net discrete tax expense of $0.2 million, which was comprised primarily of a $4.7 million net tax expense related to unrecognized tax benefits and interest, a $3.1 million tax expense related to stock compensation and a $7.5 million net tax benefit for interest on income tax receivables. Excluding the $0.2 million net discrete tax expense in the 2023 period, the effective income tax rate would have been 8.2%. Without discrete items, the effective income tax rate for the three months ended June 2024 increased by 7.2% compared with the 2023 period primarily due to the jurisdictional mix of earnings and year-to-date losses generated in the current year, including non-deductible goodwill impairment. VF files a consolidated U.S. federal income tax return, as well as separate and combined income tax returns in numerous state and international jurisdictions. In the U.S., the Internal Revenue Service ("IRS") examinations for tax years through 2015 have been effectively settled. In addition, VF is currently subject to examination by various state and international tax authorities. Management regularly assesses the potential outcomes of both ongoing and future examinations for the current and prior years and has concluded that VF’s provision for income taxes is adequate. The outcome of any one examination is not expected to have a material impact on VF’s consolidated financial statements. Management believes that some of these audits and negotiations will conclude during the next 12 months. During the three months ended June 2024, the amount of net unrecognized tax benefits and associated interest increased by $5.3 million to $308.1 million. Management believes that it is reasonably possible that the amount of unrecognized income tax benefits and interest may decrease during the next 12 months by approximately $4.1 million due to settlement of audits and expiration of statutes of limitations, of which $1.0 million would reduce income tax expense.

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REPORTABLE SEGMENT INFORMATION	3 Months Ended
	Jun. 29, 2024
Segment Reporting [Abstract]
REPORTABLE SEGMENT INFORMATION	REPORTABLE SEGMENT INFORMATION VF's President and Chief Executive Officer, who is considered the Company's CODM, allocates resources and assesses performance based on a global brand view that represents VF's operating segments. The operating segments have been evaluated and combined into reportable segments because they meet the similar economic characteristics and qualitative aggregation criteria set forth in the relevant accounting guidance. The Company's reportable segments have been identified as: Outdoor, Active and Work. Financial information for VF's reportable segments is as follows:   Three Months Ended June (In thousands) 2024 2023 Segment revenues: Outdoor $ 790,199  $ 829,697  Active 942,139  1,066,009  Work 174,963  190,630  Total segment revenues $ 1,907,301  $ 2,086,336  Segment profit (loss): Outdoor $ (83,415) $ (43,661) Active 98,549  123,782  Work 5,328  6,831  Total segment profit 20,462  86,952  Impairment of goodwill and intangible assets (145,000) —  Corporate and other expenses (117,305) (99,511) Interest expense, net (55,677) (49,719) Loss before income taxes $ (297,520) $ (62,278)

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NET LOSS PER SHARE	3 Months Ended
	Jun. 29, 2024
Earnings Per Share [Abstract]
NET LOSS PER SHARE	NET LOSS PER SHARE   Three Months Ended June (In thousands, except per share amounts) 2024 2023 Net loss per common share – basic: Net loss $ (258,886) $ (57,425) Weighted average common shares outstanding 388,741  388,160  Net loss per common share $ (0.67) $ (0.15) Net loss per common share – diluted: Net loss $ (258,886) $ (57,425) Weighted average common shares outstanding 388,741  388,160  Incremental shares from stock options and other dilutive securities —  —  Adjusted weighted average common shares outstanding 388,741  388,160  Net loss per common share $ (0.67) $ (0.15) In the three-month periods ended June 2024 and June 2023, the dilutive impacts of all outstanding stock options and other dilutive securities were excluded from dilutive shares as a result of the Company's net loss for the periods and, as such, their inclusion would have been anti-dilutive. As a result, a total of 22.6 million and 18.6 million potentially dilutive shares related to stock options and other dilutive securities were excluded from the diluted loss per share calculations for the three-month periods ended June 2024 and June 2023, respectively.

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FAIR VALUE MEASUREMENTS	3 Months Ended
	Jun. 29, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Financial assets and financial liabilities measured and reported at fair value are classified in a three-level hierarchy that prioritizes the inputs used in the valuation process. A financial instrument’s categorization within the valuation hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The hierarchy is based on the observability and objectivity of the pricing inputs, as follows: •Level 1 — Quoted prices in active markets for identical assets or liabilities. •Level 2 — Significant directly observable data (other than Level 1 quoted prices) or significant indirectly observable data through corroboration with observable market data. Inputs would normally be (i) quoted prices in active markets for similar assets or liabilities, (ii) quoted prices in inactive markets for identical or similar assets or liabilities, or (iii) information derived from or corroborated by observable market data. •Level 3 — Prices or valuation techniques that require significant unobservable data inputs. These inputs would normally be VF’s own data and judgments about assumptions that market participants would use in pricing the asset or liability. Recurring Fair Value Measurements The following table summarizes financial assets and financial liabilities that are measured and recorded in the consolidated financial statements at fair value on a recurring basis:   Total Fair Value Fair Value Measurement Using (a) (In thousands) Level 1 Level 2 Level 3 June 2024 Financial assets: Cash equivalents: Money market funds $ 189,722  $ 189,722  $ —  $ —  Time deposits 7,897  7,897  —  —  Derivative financial instruments 41,357  —  41,357  —  Deferred compensation and other 94,365  94,365  —  —  Financial liabilities: Derivative financial instruments 27,578  —  27,578  —  Deferred compensation 89,570  —  89,570  —  Total Fair Value Fair Value Measurement Using (a) (In thousands) Level 1 Level 2 Level 3 March 2024 Financial assets: Cash equivalents: Money market funds $ 171,931  $ 171,931  $ —  $ —  Time deposits 54,853  54,853  —  —  Derivative financial instruments 32,548  —  32,548  —  Deferred compensation and other 95,236  95,236  —  —  Financial liabilities: Derivative financial instruments 40,234  —  40,234  —  Deferred compensation 90,804  —  90,804  —  (a)There were no transfers among the levels within the fair value hierarchy during the three months ended June 2024 or the year ended March 2024. VF’s cash equivalents include money market funds and time deposits with maturities within three months of their purchase dates, that approximate fair value based on Level 1 measurements. The fair value of derivative financial instruments, which consist of foreign exchange forward contracts and interest rate swap contracts, is determined based on observable market inputs (Level 2), including spot and forward exchange rates for foreign currencies and interest rate forward curves, and considers the credit risk of the Company and its counterparties. VF’s deferred compensation assets primarily represent investments held within plan trusts as an economic hedge of the related deferred compensation liabilities. These investments primarily include mutual funds (Level 1) that are valued based on quoted prices in active markets. Liabilities related to VF’s deferred compensation plans are recorded at amounts due to participants, based on the fair value of the participants’ selection of hypothetical investments. All other significant financial assets and financial liabilities are recorded in the consolidated financial statements at cost, except life insurance contracts which are recorded at cash surrender value. These other financial assets and financial liabilities include cash held as demand deposits, accounts receivable, short-term borrowings, accounts payable and accrued liabilities. At June 2024 and March 2024, their carrying values approximated their fair values. Additionally, at June 2024 and March 2024, the carrying values of VF’s long-term debt, including the current portion, were $5,690.3 million and $5,703.0 million, respectively, compared with fair values of $5,231.4 million and $5,263.3 million at those respective dates. Fair value for long-term debt is a Level 2 estimate based on quoted market prices or values of comparable borrowings. Nonrecurring Fair Value Measurements Supreme Reporting Unit and Indefinite-Lived Intangible Asset Impairment Analysis During the three months ended June 2024, VF determined that a triggering event had occurred requiring impairment testing of the Supreme reporting unit goodwill and indefinite-lived trademark intangible asset. VF's assessment gave consideration to the ongoing negotiations to sell the Supreme reporting unit. The carrying values of the goodwill and indefinite-lived trademark intangible asset at the testing date were $811.6 million and $852.0 million, respectively. As a result of the impairment testing performed, VF recorded impairment charges of $94.0 million and $51.0 million to the Supreme reporting unit goodwill and indefinite-lived trademark intangible asset, respectively. The Supreme reporting unit is included in the Active reportable segment. Management estimated the fair value of the Supreme reporting unit using Company-specific inputs, including estimates of fair value subsequently confirmed by the transaction price discussed in Note 18. The fair value of the Supreme® indefinite-lived trademark intangible asset was estimated using valuation techniques consistent with those discussed in the Critical Accounting Policies and Estimates section included in Management’s Discussion and Analysis in the Fiscal 2024 Form 10-K. Management’s revenue forecasts used in the Supreme® indefinite-lived trademark intangible asset valuation considered recent and historical performance, strategic initiatives, industry trends and macroeconomic factors. Assumptions used in the valuation were similar to those that would be used by market participants performing independent valuations of the asset. Key assumptions developed by management and used in the quantitative analysis of the Supreme® indefinite-lived trademark intangible asset include: •Financial projections that are comparable to those used in the prior year testing, as the brand is executing on its strategy, with moderate revenue growth throughout the forecast period that reflects the long-term strategy for the business, and terminal growth rates based on the expected long-term growth rate of the business; •Tax rates based on the statutory rates for the countries in which the related intellectual property is domiciled; •Royalty rates based on market data as well as active license agreements with similar VF brands; and, •Market-based discount rates that are slightly higher than prior testing due to overall market conditions. The valuation models used by management in the impairment testing assumes continued recovery in the brand’s operating results with revenue growth over the projection period. If the brand is unable to achieve the financial projections or if market-based discount rates increase, additional impairment of the reporting unit goodwill and indefinite-lived trademark intangible asset could occur in the future.

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DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES	3 Months Ended
	Jun. 29, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES Summary of Derivative Financial Instruments VF’s outstanding derivative financial instruments include foreign currency exchange forward contracts and interest rate swap contracts. Although derivatives meet the criteria for hedge accounting at the inception of the hedging relationship, a limited number of derivative contracts intended to hedge assets and liabilities are not designated as hedges for accounting purposes. The notional amounts of all outstanding foreign currency exchange forward contracts were $3.1 billion at June 2024, $3.1 billion at March 2024 and $3.5 billion at June 2023, consisting primarily of contracts hedging exposures to the euro, British pound, Canadian dollar, Swiss franc, Mexican peso, Polish zloty, Swedish krona, South Korean won, Chinese renminbi and Japanese yen. These derivative contracts have maturities up to 20 months. The notional amount of VF's outstanding interest rate swap contracts was $500.0 million at June 2024, March 2024 and June 2023. These contracts hedge the cash flow risk of interest payments on VF's variable-rate delayed draw Term Loan ("DDTL") Agreement. 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) June 2024 March 2024 June 2023 June 2024 March 2024 June 2023 Derivatives Designated as Hedging Instruments: Foreign exchange contracts $ 38,160  $ 29,657  $ 27,902  $ (27,436) $ (39,639) $ (74,050) Interest rate contracts 1,690  2,335  4,582  —  —  —  Total derivatives designated as hedging instruments 39,850  31,992  32,484  (27,436) (39,639) (74,050) Derivatives Not Designated as Hedging Instruments: Foreign exchange contracts 1,507  556  404  (142) (595) (7,978) Total derivatives $ 41,357  $ 32,548  $ 32,888  $ (27,578) $ (40,234) $ (82,028) VF records and presents the fair values of all of its derivative assets and liabilities in the Consolidated Balance Sheets on a gross basis, even though they are subject to master netting agreements. 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:   June 2024 March 2024 June 2023 (In thousands) Derivative Asset Derivative Liability Derivative Asset Derivative Liability Derivative Asset Derivative Liability Gross amounts presented in the Consolidated Balance Sheets $ 41,357  $ (27,578) $ 32,548  $ (40,234) $ 32,888  $ (82,028) Gross amounts not offset in the Consolidated Balance Sheets (6,699) 6,699  (11,322) 11,322  (27,128) 27,128  Net amounts $ 34,658  $ (20,879) $ 21,226  $ (28,912) $ 5,760  $ (54,900) Derivatives are classified as current or noncurrent based on maturity dates, as follows: (In thousands) June 2024 March 2024 June 2023 Derivative Instruments Balance Sheet Location Foreign exchange contracts Other current assets $ 33,562  $ 26,366  $ 26,145  Foreign exchange contracts Accrued liabilities (24,802) (35,578) (73,049) Foreign exchange contracts Other assets 6,105  3,847  2,161  Foreign exchange contracts Other liabilities (2,776) (4,656) (8,979) Interest rate contracts Other current assets 1,690  2,335  —  Interest rate contracts Other assets —  —  4,582  Cash Flow Hedges VF primarily uses foreign currency exchange forward contracts to hedge a portion of the exchange risk for its forecasted sales, inventory purchases, operating costs and certain intercompany transactions, including sourcing and management fees and royalties. The Company also uses interest rate swap contracts to hedge against a portion of the exposure related to its interest payments on its variable-rate debt. The effects of cash flow hedging included in VF’s Consolidated Statements of Comprehensive Loss and Consolidated Statements of Operations are summarized as follows: (In thousands) Gain (Loss) on Derivatives Recognized in Accumulated OCL Three Months Ended June Cash Flow Hedging Relationships 2024 2023 Foreign exchange contracts $ 19,501  $ (29,160) Interest rate contracts 520  6,420  Total $ 20,021  $ (22,740) (In thousands) Gain (Loss) Reclassified from Accumulated OCL into Net Loss Three Months Ended June Cash Flow Hedging Relationships Location of Gain (Loss) 2024 2023 Foreign exchange contracts Net revenues $ (4,331) $ 1,090  Foreign exchange contracts Cost of goods sold (10,126) 8,075  Foreign exchange contracts Selling, general and administrative expenses (408) 1,301  Foreign exchange contracts Other income (expense), net (56) (511) Interest rate contracts Interest expense 1,192  725  Total $ (13,729) $ 10,680  Derivative Contracts Not Designated as Hedges VF uses foreign currency exchange contracts to manage foreign currency exchange risk on third-party and intercompany accounts receivable and payable, as well as third-party and intercompany borrowings and interest payments. These contracts are not designated as hedges, and are recorded at fair value in the Consolidated Balance Sheets. Changes in the fair values of these instruments are recognized directly in earnings. Gains or losses on these contracts largely offset the net transaction losses or gains on the related assets and liabilities. In the case of derivative contracts executed on foreign currency exposures that are no longer probable of occurring, VF de-designates these hedges and the fair value changes of these instruments are also recognized directly in earnings. During the three months ended June 2023, certain derivative contracts were de-designated as the related hedged forecasted transactions were no longer deemed probable of occurring. Accordingly, the Company reclassified amounts from accumulated OCL and recognized an $8.4 million loss in cost of goods sold during the three months ended June 2023. Other Derivative Information At June 2024, accumulated OCL included $4.0 million of pre-tax net deferred losses for foreign currency exchange contracts and a $1.7 million pre-tax deferred gain for interest rate swap contracts, which are expected to be reclassified to earnings during the next 12 months. The amounts ultimately reclassified to earnings will depend on exchange rates and interest rates in effect when outstanding derivative contracts are settled. Net Investment Hedge The Company has designated its euro-denominated fixed-rate notes, which represented €2.0 billion in aggregate principal as of June 2024, as a net investment hedge of VF’s investment in certain foreign operations. Because this debt qualified as a nonderivative hedging instrument, foreign currency transaction gains or losses of the debt are deferred in the foreign currency translation and other component of accumulated OCL as an offset to the foreign currency translation adjustments on the hedged investments. During the three-month periods ended June 2024 and June 2023, the Company recognized an after-tax gain of $10.8 million and an after-tax loss of $10.4 million, respectively, in OCL related to the net investment hedge transaction. Any amounts deferred in accumulated OCL will remain until the hedged investment is sold or substantially liquidated.

v3.24.2.u1

RESTRUCTURING	3 Months Ended
	Jun. 29, 2024
Restructuring and Related Activities [Abstract]
RESTRUCTURING	RESTRUCTURING The Company incurs restructuring charges related to strategic initiatives and cost optimization of business activities. A description of significant restructuring programs and other restructuring charges is provided below. Reinvent On October 30, 2023, VF introduced Reinvent, a transformation program to enhance focus on brand-building and to improve operating performance and allow VF to achieve its full potential. The Company currently estimates it will incur approximately $140.0 million to $160.0 million in restructuring charges in connection with Reinvent, and that substantially all actions will be completed by the end of Fiscal 2025. Of the total estimated charges, the Company anticipates that approximately 70% will relate to severance and employee-related benefits and the remainder will primarily relate to asset impairments and write-downs. Cash payments are generally expected to be paid within one year of charges incurred. During the three months ended June 2024, $12.3 million of cash payments related to the Reinvent charges were made. The type of cost and respective location of restructuring charges related to Reinvent for the three months ended June 2024 and the cumulative charges recorded since the inception of Reinvent were as follows: (In thousands) Three Months Ended June 2024 Cumulative Charges Type of Cost Statement of Operations Location Severance and employee-related benefits Selling, general and administrative expenses $ 11,141  $ 75,963  Severance and employee-related benefits Cost of goods sold 181  4,691  Contract termination and other Selling, general and administrative expenses 737  737  Contract termination and other Cost of goods sold 157  157  Asset impairments and write-downs Selling, general and administrative expenses 500  39,886  Accelerated depreciation Selling, general and administrative expenses 861  861  Accelerated depreciation Cost of goods sold 17  17  Total Reinvent Charges $ 13,594  $ 122,312  All restructuring charges related to Reinvent recognized in the three months ended June 2024 as well as all the cumulative charges were reported within 'Corporate and other' expenses in Note 13, Reportable Segment Information. Other Restructuring Charges Other Restructuring Charges are related to various approved initiatives. The type of cost and respective location of Other Restructuring Charges for the three months ended June 2024 and 2023 were as follows: Three Months Ended June (In thousands) 2024 2023 Type of Cost Statement of Operations Location Severance and employee-related benefits Selling, general and administrative expenses $ —  $ 676  Contract termination and other Selling, general and administrative expenses 437  19  Total Other Restructuring Charges $ 437  $ 695  Other Restructuring Charges by business segment were as follows: Three Months Ended June (In thousands) 2024 2023 Outdoor $ —  $ 242  Active —  434  Work —  —  Corporate and other 437  19  Total $ 437  $ 695  Consolidated Restructuring Charges The activity in the restructuring accrual related to Reinvent and Other Restructuring Charges for the three-month period ended June 2024 was as follows: (In thousands) Severance Other Total Accrual at March 2024 $ 60,331  $ 345  $ 60,676  Charges 11,322  894  12,216  Cash payments and settlements (13,527) (897) (14,424) Adjustments to accruals (180) —  (180) Impact of foreign currency (15) —  (15) Accrual at June 2024 $ 57,931  $ 342  $ 58,273  Of the $58.3 million total restructuring accrual at June 2024, $55.3 million is expected to be paid out within the next 12 months and is classified within accrued liabilities. The remaining $3.0 million will be paid out beyond the next 12 months and thus is classified within other liabilities. The Company has not recognized any significant incremental costs related to the accruals for the year ended March 2024 or prior periods.

v3.24.2.u1

SUBSEQUENT EVENTS	3 Months Ended
	Jun. 29, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On July 16, 2024, VF entered into a definitive Stock and Asset Purchase Agreement (the "Purchase Agreement") with EssilorLuxottica S.A. to sell the Supreme® brand business for an aggregate base purchase price of $1.5 billion in cash, subject to customary adjustments for cash, indebtedness, working capital and transaction expenses as more fully set forth in the Purchase Agreement. The divestiture of the Supreme® brand business is expected to meet the "held-for-sale" criteria in the second quarter of Fiscal 2025, and VF has determined that the sale represents a strategic shift that will have a significant effect on VF's operations. As such, the results of operations, including any expected loss recognized, and the related cash flows will be reclassified to discontinued operations on the Consolidated Statements of Operations and Consolidated Statements of Cash Flows, respectively, for all periods presented beginning in the second quarter of Fiscal 2025. In addition, the assets and liabilities will be presented separately on the Consolidated Balance Sheets for both current and prior periods beginning in the second quarter of Fiscal 2025. VF could incur a loss upon closing the transaction, but is unable to estimate with certainty, pending determination of amounts to be transferred. The transaction is expected to close by the end of the third quarter of Fiscal 2025. On July 23, 2024, VF’s Board of Directors declared a quarterly cash dividend of $0.09 per share, payable on September 18, 2024 to stockholders of record on September 10, 2024. On August 2, 2024, VF entered into amendments to its $2.25 billion senior unsecured revolving line of credit (the “Global Credit Facility”) and its DDTL Agreement. The amended agreements define restrictive covenants, including a consolidated net indebtedness to consolidated net capitalization financial ratio covenant. The calculation of consolidated net indebtedness is net of unrestricted cash and the calculation of consolidated net capitalization permits certain addbacks, including non-cash impairment charges and material impacts resulting from adverse legal rulings, as defined in the amended agreements. Additionally, the amended agreements require the repayment of the DDTL upon the completion of the sale of the Supreme® brand business.

v3.24.2.u1

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Pay vs Performance Disclosure
Net loss	$ (258,886)	$ (57,425)

v3.24.2.u1

Insider Trading Arrangements	3 Months Ended
	Jun. 29, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

v3.24.2.u1

BASIS OF PRESENTATION (Policies)	3 Months Ended
	Jun. 29, 2024
Accounting Policies [Abstract]
Fiscal Year	Fiscal Year VF Corporation (together with its subsidiaries, collectively known as “VF” or the “Company”) uses a 52/53 week fiscal year ending on the Saturday closest to March 31 of each year. The Company's current fiscal year runs from March 31, 2024 through March 29, 2025 (“Fiscal 2025”). Accordingly, this Form 10-Q presents our first quarter of Fiscal 2025. For presentation purposes herein, all references to periods ended June 2024 and June 2023 relate to the fiscal periods ended on June 29, 2024 and July 1, 2023, respectively. References to March 2024 relate to information as of March 30, 2024.
Basis of Presentation	Basis of Presentation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X and do not include all of the information and notes required by generally accepted accounting principles in the United States of America (“GAAP”) for complete financial statements. Similarly, the March 2024 consolidated balance sheet data was derived from audited financial statements but does not include all disclosures required by GAAP. In the opinion of management, the accompanying unaudited interim consolidated financial statements contain all normal and recurring adjustments necessary to fairly state the consolidated financial position, results of operations and cash flows of VF for the interim periods presented. Operating results for the three months ended June 2024 are not necessarily indicative of results that may be expected for any other interim period or for Fiscal 2025. For further information, refer to the consolidated financial statements and notes included in VF’s Annual Report on Form 10-K for the year ended March 30, 2024 (“Fiscal 2024 Form 10-K”). Certain prior year amounts have been reclassified to conform to the Fiscal 2025 presentation.
Use of Estimates	Use of Estimates In preparing the interim consolidated financial statements, management makes estimates and assumptions that affect amounts reported in the interim consolidated financial statements and accompanying notes. Actual results may differ from those estimates.
Recently Adopted Accounting Standards and Recently Issued Accounting Standards	Recently Adopted Accounting Standards In September 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2022-04, "Liabilities — Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations". This guidance requires companies with supplier finance programs to disclose sufficient qualitative and quantitative information about the program to allow a user of the financial statements to understand the nature of, activity in, and potential magnitude of the program. The guidance became effective for VF in the first quarter of Fiscal 2024, except for the rollforward information that will be effective for annual periods beginning in Fiscal 2025 on a prospective basis. The Company adopted the required guidance in the first quarter of Fiscal 2024 and will disclose the rollforward information in our Annual Report on Form 10-K for the year ended March 29, 2025. Refer to Note 8 for disclosures related to the Company's supply chain financing program. Recently Issued Accounting Standards In November 2023, the FASB issued ASU No. 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures", which updates reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses that are regularly provided to the individual or group identified as the chief operating decision maker ("CODM"). The guidance also requires disclosure of the title and position of the CODM and how reported measures of segment profit or loss are used to assess performance and allocate resources. The guidance will be effective for annual disclosures beginning in Fiscal 2025, and has expanded requirements to include all disclosures about a reportable segment's profit or loss and assets in subsequent interim periods. Early adoption is permitted. The guidance requires retrospective application to all prior periods presented in the financial statements. The Company is evaluating the impact that adopting this guidance will have on VF's disclosures. In December 2023, the FASB issued ASU No. 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures", which is intended to enhance the transparency and decision usefulness of income tax disclosures by requiring that an entity, on an annual basis, disclose additional income tax information, primarily related to the rate reconciliation and income taxes paid. The rate reconciliation disclosures will require specific categories and additional information for reconciling items that meet a quantitative threshold. The income taxes paid disclosures will require disaggregation by individual jurisdictions that are greater than 5% of total income taxes paid. The guidance will be effective for annual disclosures beginning in Fiscal 2026. Early adoption is permitted. The amendments are required to be applied on a prospective basis; however, retrospective application is permitted. The Company is evaluating the impact that adopting this guidance will have on VF's disclosures.
Fair Value Measurement	Financial assets and financial liabilities measured and reported at fair value are classified in a three-level hierarchy that prioritizes the inputs used in the valuation process. A financial instrument’s categorization within the valuation hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The hierarchy is based on the observability and objectivity of the pricing inputs, as follows: •Level 1 — Quoted prices in active markets for identical assets or liabilities. •Level 2 — Significant directly observable data (other than Level 1 quoted prices) or significant indirectly observable data through corroboration with observable market data. Inputs would normally be (i) quoted prices in active markets for similar assets or liabilities, (ii) quoted prices in inactive markets for identical or similar assets or liabilities, or (iii) information derived from or corroborated by observable market data. •Level 3 — Prices or valuation techniques that require significant unobservable data inputs. These inputs would normally be VF’s own data and judgments about assumptions that market participants would use in pricing the asset or liability.

v3.24.2.u1

REVENUES (Tables)	3 Months Ended
	Jun. 29, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Contract Assets and Contract Liabilities	The following table provides information about contract assets and contract liabilities: (In thousands) June 2024 March 2024 June 2023 Contract assets (a) $ 3,188  $ 2,393  $ 2,645  Contract liabilities (b) 68,254  67,115  62,942  (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.
Schedule of 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 June 2024 (In thousands) Outdoor Active Work Total Channel revenues Wholesale $ 441,881  $ 435,264  $ 136,644  $ 1,013,789  Direct-to-consumer 345,290  499,957  33,933  879,180  Royalty 3,028  6,918  4,386  14,332  Total $ 790,199  $ 942,139  $ 174,963  $ 1,907,301  Geographic revenues Americas $ 373,400  $ 526,726  $ 144,643  $ 1,044,769  Europe 264,181  270,153  18,522  552,856  Asia-Pacific 152,618  145,260  11,798  309,676  Total $ 790,199  $ 942,139  $ 174,963  $ 1,907,301  Three Months Ended June 2023 (In thousands) Outdoor Active Work Total Channel revenues Wholesale $ 489,931  $ 462,265  $ 146,169  $ 1,098,365  Direct-to-consumer 336,333  597,621  39,654  973,608  Royalty 3,433  6,123  4,807  14,363  Total $ 829,697  $ 1,066,009  $ 190,630  $ 2,086,336  Geographic revenues Americas $ 404,406  $ 625,847  $ 153,571  $ 1,183,824  Europe 288,221  277,126  19,001  584,348  Asia-Pacific 137,070  163,036  18,058  318,164  Total $ 829,697  $ 1,066,009  $ 190,630  $ 2,086,336

v3.24.2.u1

INVENTORIES (Tables)	3 Months Ended
	Jun. 29, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	(In thousands) June 2024 March 2024 June 2023 Finished products $ 2,063,417  $ 1,718,676  $ 2,731,511  Work-in-process 36,881  39,539  41,827  Raw materials 10,300  8,151  13,683  Total inventories $ 2,110,598  $ 1,766,366  $ 2,787,021

v3.24.2.u1

INTANGIBLE ASSETS (Tables)	3 Months Ended
	Jun. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite Lived Intangible Assets	June 2024 March 2024 (In thousands) Weighted Average Amortization Period Amortization Method Cost Accumulated Amortization Net Carrying Amount Net Carrying Amount Amortizable intangible assets: Customer relationships and other 19 years Accelerated $ 261,408  $ 189,927  $ 71,481  $ 74,963  Indefinite-lived intangible assets: Trademarks and trade names 2,500,284  2,553,519  Intangible assets, net $ 2,571,765  $ 2,628,482
Schedule of Indefinite-Lived Intangible Assets	June 2024 March 2024 (In thousands) Weighted Average Amortization Period Amortization Method Cost Accumulated Amortization Net Carrying Amount Net Carrying Amount Amortizable intangible assets: Customer relationships and other 19 years Accelerated $ 261,408  $ 189,927  $ 71,481  $ 74,963  Indefinite-lived intangible assets: Trademarks and trade names 2,500,284  2,553,519  Intangible assets, net $ 2,571,765  $ 2,628,482

v3.24.2.u1

GOODWILL (Tables)	3 Months Ended
	Jun. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Goodwill	Changes in goodwill are summarized by reportable segment as follows: (In thousands) Outdoor Active Work Total Balance, March 2024 $ 205,868  $ 1,203,046  $ 51,500  $ 1,460,414  Impairment charge —  (94,000) —  (94,000) Foreign currency translation 383  (6,015) —  (5,632) Balance, June 2024 $ 206,251  $ 1,103,031  $ 51,500  $ 1,360,782

v3.24.2.u1

LEASES (Tables)	3 Months Ended
	Jun. 29, 2024
Leases [Abstract]
Schedule of Components of Lease Cost	The components of lease cost were as follows: Three Months Ended June (In thousands) 2024 2023 Operating lease cost $ 105,143  $ 106,131  Other lease cost 22,231  35,319  Total lease cost $ 127,374  $ 141,450

v3.24.2.u1

PENSION PLANS (Tables)	3 Months Ended
	Jun. 29, 2024
Retirement Benefits [Abstract]
Schedule of Components of Pension Cost	The components of pension cost for VF’s defined benefit plans were as follows:   Three Months Ended June (In thousands) 2024 2023 Service cost – benefits earned during the period $ 2,408  $ 2,192  Interest cost on projected benefit obligations 11,680  11,812  Expected return on plan assets (15,296) (15,877) Settlement charge —  3,292  Amortization of deferred amounts: Net deferred actuarial losses 5,046  4,232  Deferred prior service credits (144) (135) Net periodic pension cost $ 3,694  $ 5,516

v3.24.2.u1

CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	3 Months Ended
	Jun. 29, 2024
Equity [Abstract]
Schedule of Deferred Components of Other Comprehensive Income (Loss) Reported and Changes in Accumulated OCL	The deferred components of other comprehensive income (loss) are reported, net of related income taxes, in accumulated other comprehensive loss ("OCL") in stockholders’ equity, as follows: (In thousands) June 2024 March 2024 June 2023 Foreign currency translation and other $ (887,892) $ (868,439) $ (872,800) Defined benefit pension plans (178,701) (182,333) (161,211) Derivative financial instruments 12,966  (13,559) (19,518) Accumulated other comprehensive loss $ (1,053,627) $ (1,064,331) $ (1,053,529) The changes in accumulated OCL, net of related taxes, were as follows:   Three Months Ended June 2024 (In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total Balance, March 2024 $ (868,439) $ (182,333) $ (13,559) $ (1,064,331) Other comprehensive income (loss) before reclassifications (19,453) (10) 15,785  (3,678) Amounts reclassified from accumulated other comprehensive loss —  3,642  10,740  14,382  Net other comprehensive income (loss) (19,453) 3,632  26,525  10,704  Balance, June 2024 $ (887,892) $ (178,701) $ 12,966  $ (1,053,627)   Three Months Ended June 2023 (In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total Balance, March 2023 $ (859,651) $ (167,692) $ 7,825  $ (1,019,518) Other comprehensive income (loss) before reclassifications (13,149) 1,088  (18,602) (30,663) Amounts reclassified from accumulated other comprehensive loss —  5,393  (8,741) (3,348) Net other comprehensive income (loss) (13,149) 6,481  (27,343) (34,011) Balance, June 2023 $ (872,800) $ (161,211) $ (19,518) $ (1,053,529)
Schedule of Reclassifications Out of Accumulated OCL	Reclassifications out of accumulated OCL were as follows: (In thousands) Three Months Ended June Details About Accumulated Other Comprehensive Loss Components Affected Line Item in the Consolidated Statements of Operations 2024 2023 Amortization of defined benefit pension plans: Net deferred actuarial losses Other income (expense), net $ (5,046) $ (4,232) Deferred prior service credits Other income (expense), net 144  135  Pension settlement charges Other income (expense), net —  (3,292) Total before tax (4,902) (7,389) Tax benefit 1,260  1,996  Net of tax (3,642) (5,393) Gains (losses) on derivative financial instruments: Foreign exchange contracts Net revenues (4,331) 1,090  Foreign exchange contracts Cost of goods sold (10,126) 8,075  Foreign exchange contracts Selling, general and administrative expenses (408) 1,301  Foreign exchange contracts Other income (expense), net (56) (511) Interest rate contracts Interest expense 1,192  725  Total before tax (13,729) 10,680  Tax benefit (expense) 2,989  (1,939) Net of tax (10,740) 8,741  Total reclassifications for the period, net of tax $ (14,382) $ 3,348

v3.24.2.u1

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Jun. 29, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Grant Date Fair Value of Option Award and Range of Assumptions for Inputs	The grant date fair value of each option award was calculated using a lattice option-pricing valuation model, which incorporated a range of assumptions for inputs as follows:   Three Months Ended June 2024 Expected volatility 37% to 53% Weighted average expected volatility 47% Expected term (in years) 5.5 to 7.2 Weighted average dividend yield 2.1% Risk-free interest rate 4.54% to 5.43% Weighted average fair value at date of grant $4.93

v3.24.2.u1

REPORTABLE SEGMENT INFORMATION (Tables)	3 Months Ended
	Jun. 29, 2024
Segment Reporting [Abstract]
Schedule of Financial Information for Reportable Segments	Financial information for VF's reportable segments is as follows:   Three Months Ended June (In thousands) 2024 2023 Segment revenues: Outdoor $ 790,199  $ 829,697  Active 942,139  1,066,009  Work 174,963  190,630  Total segment revenues $ 1,907,301  $ 2,086,336  Segment profit (loss): Outdoor $ (83,415) $ (43,661) Active 98,549  123,782  Work 5,328  6,831  Total segment profit 20,462  86,952  Impairment of goodwill and intangible assets (145,000) —  Corporate and other expenses (117,305) (99,511) Interest expense, net (55,677) (49,719) Loss before income taxes $ (297,520) $ (62,278)

v3.24.2.u1

NET LOSS PER SHARE (Tables)	3 Months Ended
	Jun. 29, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Basic and Diluted	Three Months Ended June (In thousands, except per share amounts) 2024 2023 Net loss per common share – basic: Net loss $ (258,886) $ (57,425) Weighted average common shares outstanding 388,741  388,160  Net loss per common share $ (0.67) $ (0.15) Net loss per common share – diluted: Net loss $ (258,886) $ (57,425) Weighted average common shares outstanding 388,741  388,160  Incremental shares from stock options and other dilutive securities —  —  Adjusted weighted average common shares outstanding 388,741  388,160  Net loss per common share $ (0.67) $ (0.15)

v3.24.2.u1

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Jun. 29, 2024
Fair Value Disclosures [Abstract]
Schedule of Financial Assets and Financial Liabilities Measured and Recorded at Fair Value on Recurring Basis	The following table summarizes financial assets and financial liabilities that are measured and recorded in the consolidated financial statements at fair value on a recurring basis:   Total Fair Value Fair Value Measurement Using (a) (In thousands) Level 1 Level 2 Level 3 June 2024 Financial assets: Cash equivalents: Money market funds $ 189,722  $ 189,722  $ —  $ —  Time deposits 7,897  7,897  —  —  Derivative financial instruments 41,357  —  41,357  —  Deferred compensation and other 94,365  94,365  —  —  Financial liabilities: Derivative financial instruments 27,578  —  27,578  —  Deferred compensation 89,570  —  89,570  —  Total Fair Value Fair Value Measurement Using (a) (In thousands) Level 1 Level 2 Level 3 March 2024 Financial assets: Cash equivalents: Money market funds $ 171,931  $ 171,931  $ —  $ —  Time deposits 54,853  54,853  —  —  Derivative financial instruments 32,548  —  32,548  —  Deferred compensation and other 95,236  95,236  —  —  Financial liabilities: Derivative financial instruments 40,234  —  40,234  —  Deferred compensation 90,804  —  90,804  —  (a)There were no transfers among the levels within the fair value hierarchy during the three months ended June 2024 or the year ended March 2024.

v3.24.2.u1

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	3 Months Ended
	Jun. 29, 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) June 2024 March 2024 June 2023 June 2024 March 2024 June 2023 Derivatives Designated as Hedging Instruments: Foreign exchange contracts $ 38,160  $ 29,657  $ 27,902  $ (27,436) $ (39,639) $ (74,050) Interest rate contracts 1,690  2,335  4,582  —  —  —  Total derivatives designated as hedging instruments 39,850  31,992  32,484  (27,436) (39,639) (74,050) Derivatives Not Designated as Hedging Instruments: Foreign exchange contracts 1,507  556  404  (142) (595) (7,978) Total derivatives $ 41,357  $ 32,548  $ 32,888  $ (27,578) $ (40,234) $ (82,028)
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:   June 2024 March 2024 June 2023 (In thousands) Derivative Asset Derivative Liability Derivative Asset Derivative Liability Derivative Asset Derivative Liability Gross amounts presented in the Consolidated Balance Sheets $ 41,357  $ (27,578) $ 32,548  $ (40,234) $ 32,888  $ (82,028) Gross amounts not offset in the Consolidated Balance Sheets (6,699) 6,699  (11,322) 11,322  (27,128) 27,128  Net amounts $ 34,658  $ (20,879) $ 21,226  $ (28,912) $ 5,760  $ (54,900)
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:   June 2024 March 2024 June 2023 (In thousands) Derivative Asset Derivative Liability Derivative Asset Derivative Liability Derivative Asset Derivative Liability Gross amounts presented in the Consolidated Balance Sheets $ 41,357  $ (27,578) $ 32,548  $ (40,234) $ 32,888  $ (82,028) Gross amounts not offset in the Consolidated Balance Sheets (6,699) 6,699  (11,322) 11,322  (27,128) 27,128  Net amounts $ 34,658  $ (20,879) $ 21,226  $ (28,912) $ 5,760  $ (54,900)
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) June 2024 March 2024 June 2023 Derivative Instruments Balance Sheet Location Foreign exchange contracts Other current assets $ 33,562  $ 26,366  $ 26,145  Foreign exchange contracts Accrued liabilities (24,802) (35,578) (73,049) Foreign exchange contracts Other assets 6,105  3,847  2,161  Foreign exchange contracts Other liabilities (2,776) (4,656) (8,979) Interest rate contracts Other current assets 1,690  2,335  —  Interest rate contracts Other assets —  —  4,582
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 Loss and Consolidated Statements of Operations are summarized as follows: (In thousands) Gain (Loss) on Derivatives Recognized in Accumulated OCL Three Months Ended June Cash Flow Hedging Relationships 2024 2023 Foreign exchange contracts $ 19,501  $ (29,160) Interest rate contracts 520  6,420  Total $ 20,021  $ (22,740) (In thousands) Gain (Loss) Reclassified from Accumulated OCL into Net Loss Three Months Ended June Cash Flow Hedging Relationships Location of Gain (Loss) 2024 2023 Foreign exchange contracts Net revenues $ (4,331) $ 1,090  Foreign exchange contracts Cost of goods sold (10,126) 8,075  Foreign exchange contracts Selling, general and administrative expenses (408) 1,301  Foreign exchange contracts Other income (expense), net (56) (511) Interest rate contracts Interest expense 1,192  725  Total $ (13,729) $ 10,680

v3.24.2.u1

RESTRUCTURING (Tables)	3 Months Ended
	Jun. 29, 2024
Restructuring and Related Activities [Abstract]
Schedule of Components of Restructuring Charges, Other Restructuring Charges, Restructuring Costs by Business Segment and Activity in Restructuring Accrual	The activity in the restructuring accrual related to Reinvent and Other Restructuring Charges for the three-month period ended June 2024 was as follows: (In thousands) Severance Other Total Accrual at March 2024 $ 60,331  $ 345  $ 60,676  Charges 11,322  894  12,216  Cash payments and settlements (13,527) (897) (14,424) Adjustments to accruals (180) —  (180) Impact of foreign currency (15) —  (15) Accrual at June 2024 $ 57,931  $ 342  $ 58,273
Restructuring and Related Costs	The type of cost and respective location of restructuring charges related to Reinvent for the three months ended June 2024 and the cumulative charges recorded since the inception of Reinvent were as follows: (In thousands) Three Months Ended June 2024 Cumulative Charges Type of Cost Statement of Operations Location Severance and employee-related benefits Selling, general and administrative expenses $ 11,141  $ 75,963  Severance and employee-related benefits Cost of goods sold 181  4,691  Contract termination and other Selling, general and administrative expenses 737  737  Contract termination and other Cost of goods sold 157  157  Asset impairments and write-downs Selling, general and administrative expenses 500  39,886  Accelerated depreciation Selling, general and administrative expenses 861  861  Accelerated depreciation Cost of goods sold 17  17  Total Reinvent Charges $ 13,594  $ 122,312  The type of cost and respective location of Other Restructuring Charges for the three months ended June 2024 and 2023 were as follows: Three Months Ended June (In thousands) 2024 2023 Type of Cost Statement of Operations Location Severance and employee-related benefits Selling, general and administrative expenses $ —  $ 676  Contract termination and other Selling, general and administrative expenses 437  19  Total Other Restructuring Charges $ 437  $ 695  Other Restructuring Charges by business segment were as follows: Three Months Ended June (In thousands) 2024 2023 Outdoor $ —  $ 242  Active —  434  Work —  —  Corporate and other 437  19  Total $ 437  $ 695

v3.24.2.u1

REVENUES - Schedule of Contract Assets and Contract Liabilities (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024	Jul. 01, 2023
Revenue from Contract with Customer [Abstract]
Contract assets	$ 3,188	$ 2,393	$ 2,645
Contract liabilities	$ 68,254	$ 67,115	$ 62,942

v3.24.2.u1

REVENUES - Narrative (Details) $ in Millions	3 Months Ended
	Jun. 29, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Contracts with customer, liability, revenue recognized	$ 46.3
Remaining performance obligation, amount	$ 75.8

v3.24.2.u1

REVENUES - Schedule of Disaggregation of Revenues (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Disaggregation of Revenue [Line Items]
Net revenues	$ 1,907,301	$ 2,086,336
Outdoor
Disaggregation of Revenue [Line Items]
Net revenues	790,199	829,697
Active
Disaggregation of Revenue [Line Items]
Net revenues	942,139	1,066,009
Work
Disaggregation of Revenue [Line Items]
Net revenues	174,963	190,630
Americas
Disaggregation of Revenue [Line Items]
Net revenues	1,044,769	1,183,824
Americas | Outdoor
Disaggregation of Revenue [Line Items]
Net revenues	373,400	404,406
Americas | Active
Disaggregation of Revenue [Line Items]
Net revenues	526,726	625,847
Americas | Work
Disaggregation of Revenue [Line Items]
Net revenues	144,643	153,571
Europe
Disaggregation of Revenue [Line Items]
Net revenues	552,856	584,348
Europe | Outdoor
Disaggregation of Revenue [Line Items]
Net revenues	264,181	288,221
Europe | Active
Disaggregation of Revenue [Line Items]
Net revenues	270,153	277,126
Europe | Work
Disaggregation of Revenue [Line Items]
Net revenues	18,522	19,001
Asia-Pacific
Disaggregation of Revenue [Line Items]
Net revenues	309,676	318,164
Asia-Pacific | Outdoor
Disaggregation of Revenue [Line Items]
Net revenues	152,618	137,070
Asia-Pacific | Active
Disaggregation of Revenue [Line Items]
Net revenues	145,260	163,036
Asia-Pacific | Work
Disaggregation of Revenue [Line Items]
Net revenues	11,798	18,058
Wholesale
Disaggregation of Revenue [Line Items]
Net revenues	1,013,789	1,098,365
Wholesale | Outdoor
Disaggregation of Revenue [Line Items]
Net revenues	441,881	489,931
Wholesale | Active
Disaggregation of Revenue [Line Items]
Net revenues	435,264	462,265
Wholesale | Work
Disaggregation of Revenue [Line Items]
Net revenues	136,644	146,169
Direct-to-consumer
Disaggregation of Revenue [Line Items]
Net revenues	879,180	973,608
Direct-to-consumer | Outdoor
Disaggregation of Revenue [Line Items]
Net revenues	345,290	336,333
Direct-to-consumer | Active
Disaggregation of Revenue [Line Items]
Net revenues	499,957	597,621
Direct-to-consumer | Work
Disaggregation of Revenue [Line Items]
Net revenues	33,933	39,654
Royalty
Disaggregation of Revenue [Line Items]
Net revenues	14,332	14,363
Royalty | Outdoor
Disaggregation of Revenue [Line Items]
Net revenues	3,028	3,433
Royalty | Active
Disaggregation of Revenue [Line Items]
Net revenues	6,918	6,123
Royalty | Work
Disaggregation of Revenue [Line Items]
Net revenues	$ 4,386	$ 4,807

v3.24.2.u1

INVENTORIES (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024	Jul. 01, 2023
Inventory Disclosure [Abstract]
Finished products	$ 2,063,417	$ 1,718,676	$ 2,731,511
Work-in-process	36,881	39,539	41,827
Raw materials	10,300	8,151	13,683
Total inventories	$ 2,110,598	$ 1,766,366	$ 2,787,021

v3.24.2.u1

INTANGIBLE ASSETS - Schedule of Finite Lived and Indefinite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024	Jul. 01, 2023
Indefinite-lived intangible assets:
Trademarks and trade names	$ 2,500,284	$ 2,553,519
Intangible assets, net	$ 2,571,765	2,628,482	$ 2,640,827
Customer relationships and other
Amortizable intangible assets:
Weighted Average Amortization Period	19 years
Cost	$ 261,408
Accumulated Amortization	189,927
Net Carrying Amount	$ 71,481	$ 74,963

v3.24.2.u1

INTANGIBLE ASSETS - Narrative (Details) $ in Millions	3 Months Ended
	Jun. 29, 2024 USD ($)
Indefinite-Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 3.3
Estimated amortization expense, 2025	13.2
Estimated amortization expense, 2026	12.2
Estimated amortization expense, 2027	11.7
Estimated amortization expense, 2028	10.8
Estimated amortization expense, 2029	9.8
Supreme
Indefinite-Lived Intangible Assets [Line Items]
Impairment of indefinite lived intangible assets	$ 51.0

v3.24.2.u1

GOODWILL - Schedule of Changes in Goodwill (Details) $ in Thousands	3 Months Ended
	Jun. 29, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 1,460,414
Impairment charge	(94,000)
Foreign currency translation	(5,632)
Goodwill, ending balance	1,360,782
Outdoor
Goodwill [Roll Forward]
Goodwill, beginning balance	205,868
Impairment charge	0
Foreign currency translation	383
Goodwill, ending balance	206,251
Active
Goodwill [Roll Forward]
Goodwill, beginning balance	1,203,046
Impairment charge	(94,000)
Foreign currency translation	(6,015)
Goodwill, ending balance	1,103,031
Work
Goodwill [Roll Forward]
Goodwill, beginning balance	51,500
Impairment charge	0
Foreign currency translation	0
Goodwill, ending balance	$ 51,500

v3.24.2.u1

GOODWILL - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Mar. 30, 2024
Goodwill [Line Items]
Impairment charge	$ 94,000
Supreme
Goodwill [Line Items]
Impairment charge	94,000
Outdoor
Goodwill [Line Items]
Impairment charge	0
Accumulated impairment charges	769,000	$ 769,000
Active
Goodwill [Line Items]
Impairment charge	94,000
Accumulated impairment charges	488,100	394,100
Work
Goodwill [Line Items]
Impairment charge	0
Accumulated impairment charges	$ 61,800	$ 61,800

v3.24.2.u1

LEASES - Schedule of Components of Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Leases [Abstract]
Operating lease cost	$ 105,143	$ 106,131
Other lease cost	22,231	35,319
Total lease cost	$ 127,374	$ 141,450

v3.24.2.u1

LEASES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Leases [Abstract]
Gain on sale and leaseback transaction	$ 15.5
Cash paid for operating leases	105.4	$ 114.2
Right-of-use asset obtained in exchange for operating lease liability	$ 102.7	$ 71.8

v3.24.2.u1

SUPPLY CHAIN FINANCING PROGRAM (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024	Jul. 01, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Accounts payable	$ 1,157,755	$ 817,128	$ 1,282,313
SCF Program
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Accounts payable	$ 843,000	$ 485,000	$ 931,000

v3.24.2.u1

PENSION PLANS - Schedule of Components of Pension Cost (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Defined Benefit Plan Disclosure [Line Items]
Settlement charge		$ 3,300
Pension plan
Defined Benefit Plan Disclosure [Line Items]
Service cost – benefits earned during the period	$ 2,408	2,192
Interest cost on projected benefit obligations	11,680	11,812
Expected return on plan assets	(15,296)	(15,877)
Settlement charge	0	3,292
Amortization of deferred amounts:
Net deferred actuarial losses	5,046	4,232
Deferred prior service credits	(144)	(135)
Net periodic pension cost	$ 3,694	$ 5,516

v3.24.2.u1

PENSION PLANS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Retirement Benefits [Abstract]
Defined benefit pension plan contribution	$ 1.5
Defined benefit pension plan additional contributions to make next fiscal year	$ 7.7
Settlement charge		$ 3.3

v3.24.2.u1

CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS - Narrative (Details) - $ / shares	3 Months Ended
	Jun. 29, 2024	Mar. 30, 2024	Jul. 01, 2023
Repurchase Agreement Counterparty [Line Items]
Treasury shares (in shares)	0	0	0
Common stock, par value (in USD per share)	$ 0.25	$ 0.25	$ 0.25
Share Repurchase Program
Repurchase Agreement Counterparty [Line Items]
Common stock, shares purchased (in shares)	0

v3.24.2.u1

CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS - Schedule of Deferred Components of Other Comprehensive Income (Loss) Reported (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024	Jul. 01, 2023	Apr. 01, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total stockholders’ equity	$ 1,387,905	$ 1,658,365	$ 2,716,763	$ 2,910,713
Accumulated other comprehensive loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total stockholders’ equity	(1,053,627)	(1,064,331)	(1,053,529)	(1,019,518)
Foreign currency translation and other
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total stockholders’ equity	(887,892)	(868,439)	(872,800)	(859,651)
Defined benefit pension plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total stockholders’ equity	(178,701)	(182,333)	(161,211)	(167,692)
Derivative financial instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total stockholders’ equity	$ 12,966	$ (13,559)	$ (19,518)	$ 7,825

v3.24.2.u1

CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS - Schedule of Changes in Accumulated OCL (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,658,365	$ 2,910,713
Other comprehensive income (loss) before reclassifications	(3,678)	(30,663)
Amounts reclassified from accumulated other comprehensive loss	14,382	(3,348)
Other comprehensive income (loss)	10,704	(34,011)
Ending balance	1,387,905	2,716,763
Accumulated other comprehensive loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(1,064,331)	(1,019,518)
Other comprehensive income (loss)	10,704	(34,011)
Ending balance	(1,053,627)	(1,053,529)
Foreign Currency Translation and Other
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(868,439)	(859,651)
Other comprehensive income (loss) before reclassifications	(19,453)	(13,149)
Amounts reclassified from accumulated other comprehensive loss	0	0
Other comprehensive income (loss)	(19,453)	(13,149)
Ending balance	(887,892)	(872,800)
Defined Benefit Pension Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(182,333)	(167,692)
Other comprehensive income (loss) before reclassifications	(10)	1,088
Amounts reclassified from accumulated other comprehensive loss	3,642	5,393
Other comprehensive income (loss)	3,632	6,481
Ending balance	(178,701)	(161,211)
Derivative Financial Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(13,559)	7,825
Other comprehensive income (loss) before reclassifications	15,785	(18,602)
Amounts reclassified from accumulated other comprehensive loss	10,740	(8,741)
Other comprehensive income (loss)	26,525	(27,343)
Ending balance	$ 12,966	$ (19,518)

v3.24.2.u1

CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS - Schedule of Reclassifications Out of Accumulated OCL (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income (expense), net	$ (1,950)	$ (3,567)
Net revenues	1,907,301	2,086,336
Cost of goods sold	(915,643)	(985,269)
Selling, general and administrative expenses	(1,086,551)	(1,110,059)
Total before tax	(297,520)	(62,278)
Tax benefit (expense)	38,634	4,853
Reclassification Out of Accumulated Other Comprehensive Loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications for the period, net of tax	(14,382)	3,348
Reclassification Out of Accumulated Other Comprehensive Loss | Defined benefit pension plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income (expense), net	0	(3,292)
Total before tax	(4,902)	(7,389)
Tax benefit (expense)	1,260	1,996
Total reclassifications for the period, net of tax	(3,642)	(5,393)
Reclassification Out of Accumulated Other Comprehensive Loss | Net deferred actuarial losses
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income (expense), net	(5,046)	(4,232)
Reclassification Out of Accumulated Other Comprehensive Loss | Deferred prior service credits
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income (expense), net	144	135
Reclassification Out of Accumulated Other Comprehensive Loss | Gains (losses) on derivative financial instruments:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total before tax	(13,729)	10,680
Tax benefit (expense)	2,989	(1,939)
Total reclassifications for the period, net of tax	(10,740)	8,741
Reclassification Out of Accumulated Other Comprehensive Loss | Gains (losses) on derivative financial instruments: | Foreign exchange contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income (expense), net	(56)	(511)
Net revenues	(4,331)	1,090
Cost of goods sold	(10,126)	8,075
Selling, general and administrative expenses	(408)	1,301
Reclassification Out of Accumulated Other Comprehensive Loss | Gains (losses) on derivative financial instruments: | Interest rate contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	$ 1,192	$ 725

v3.24.2.u1

STOCK-BASED COMPENSATION - Narrative (Details)	3 Months Ended
	Jun. 29, 2024 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted in period (in shares)	5,485,215
Exercise price of options granted (in USD per share) | $ / shares	$ 12.35
Share based compensation vesting period	3 years
Period of time options become exercisable	1 year
Expiration period	10 years
Performance-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units contingently issuable (in shares)	3,642,883
Nonperformance-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units contingently issuable (in shares)	3,642,883

v3.24.2.u1

STOCK-BASED COMPENSATION - Schedule of Grant Date Fair Value of Option Award and Range of Assumptions for Inputs (Details)	3 Months Ended
	Jun. 29, 2024 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility, minimum	37.00%
Expected volatility, maximum	53.00%
Weighted average expected volatility	47.00%
Weighted average dividend yield	2.10%
Risk-free interest rate, minimum	4.54%
Risk-free interest rate, maximum	5.43%
Weighted average fair value at date of grant (in USD per share)	$ 4.93
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	5 years 6 months
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	7 years 2 months 12 days

v3.24.2.u1

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate	13.00%	7.80%
Net discrete tax expense	$ 7.1	$ 0.2
Net tax expense related to unrecognized tax benefits and interest	3.6	4.7
Tax expense related to stock compensation	$ 4.3	$ 3.1
Effective tax rate, excluding discrete items	15.40%	8.20%
Effective income tax rate reconciliation, tax settlement, amount		$ 7.5
Effective tax rate, excluding discrete items, increase from prior period	7.20%
Income tax examination, period	12 months
Increase in unrecognized tax benefits	$ 5.3
Unrecognized tax benefits	308.1
Possible decrease in unrecognized income tax benefits	4.1
Net unrecognized tax benefits and interest, if recognized, would reduce income tax expense	$ 1.0

v3.24.2.u1

REPORTABLE SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Segment Reporting Information [Line Items]
Total segment revenues	$ 1,907,301	$ 2,086,336
Total segment profit	(239,893)	(8,992)
Impairment of goodwill and intangible assets	(145,000)	0
Loss before income taxes	(297,520)	(62,278)
Operating Segments
Segment Reporting Information [Line Items]
Total segment revenues	1,907,301	2,086,336
Total segment profit	20,462	86,952
Operating Segments | Outdoor
Segment Reporting Information [Line Items]
Total segment revenues	790,199	829,697
Total segment profit	(83,415)	(43,661)
Operating Segments | Active
Segment Reporting Information [Line Items]
Total segment revenues	942,139	1,066,009
Total segment profit	98,549	123,782
Operating Segments | Work
Segment Reporting Information [Line Items]
Total segment revenues	174,963	190,630
Total segment profit	5,328	6,831
Corporate and other expenses
Segment Reporting Information [Line Items]
Corporate and other expenses	(117,305)	(99,511)
Interest expense, net
Segment Reporting Information [Line Items]
Impairment of goodwill and intangible assets	(145,000)	0
Interest expense, net	$ (55,677)	$ (49,719)

v3.24.2.u1

NET LOSS PER SHARE - Schedule of Earnings Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Net loss per common share – basic:
Net loss	$ (258,886)	$ (57,425)
Weighted average common shares outstanding (in shares)	388,741	388,160
Net loss per common share (in USD per share)	$ (0.67)	$ (0.15)
Net loss per common share – diluted:
Net loss	$ (258,886)	$ (57,425)
Weighted average common shares outstanding (in shares)	388,741	388,160
Incremental shares from stock options and other dilutive securities (in shares)	0	0
Adjusted weighted average common shares outstanding (in shares)	388,741	388,160
Net loss per common share (in USD per share)	$ (0.67)	$ (0.15)

v3.24.2.u1

NET LOSS PER SHARE - Narrative (Details) - shares shares in Millions	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Stock Options and Other Dilutive Securities
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options excluded from computation of earnings per share (in shares)	22.6	18.6

v3.24.2.u1

FAIR VALUE MEASUREMENTS - Schedule of Financial Assets and Financial Liabilities Measured and Recorded at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024	Jul. 01, 2023
Financial assets:
Derivative financial instruments	$ 41,357	$ 32,548	$ 32,888
Deferred compensation and other	94,365	95,236
Financial liabilities:
Derivative financial instruments	27,578	40,234	$ 82,028
Deferred compensation	89,570	90,804
Money market funds
Financial assets:
Cash equivalents:	189,722	171,931
Time deposits
Financial assets:
Cash equivalents:	7,897	54,853
Level 1
Financial assets:
Derivative financial instruments	0	0
Deferred compensation and other	94,365	95,236
Financial liabilities:
Derivative financial instruments	0	0
Deferred compensation	0	0
Level 1 | Money market funds
Financial assets:
Cash equivalents:	189,722	171,931
Level 1 | Time deposits
Financial assets:
Cash equivalents:	7,897	54,853
Level 2
Financial assets:
Derivative financial instruments	41,357	32,548
Deferred compensation and other	0	0
Financial liabilities:
Derivative financial instruments	27,578	40,234
Deferred compensation	89,570	90,804
Level 2 | Money market funds
Financial assets:
Cash equivalents:	0	0
Level 2 | Time deposits
Financial assets:
Cash equivalents:	0	0
Level 3
Financial assets:
Derivative financial instruments	0	0
Deferred compensation and other	0	0
Financial liabilities:
Derivative financial instruments	0	0
Deferred compensation	0	0
Level 3 | Money market funds
Financial assets:
Cash equivalents:	0	0
Level 3 | Time deposits
Financial assets:
Cash equivalents:	$ 0	$ 0

v3.24.2.u1

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Mar. 30, 2024	Jul. 01, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, carrying values, including current portion	$ 5,690,300	$ 5,703,000
Long-term debt, fair values	5,231,400	5,263,300
Goodwill	1,360,782	1,460,414	$ 1,973,615
Trademarks and trade names	2,500,284	$ 2,553,519
Impairment charge of goodwill	94,000
Supreme
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill	811,600
Trademarks and trade names	852,000
Impairment charge of goodwill	94,000
Impairment of indefinite lived intangible assets	$ 51,000

v3.24.2.u1

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Narrative (Details) $ in Millions, € in Billions	3 Months Ended
	Jun. 29, 2024 USD ($)	Jul. 01, 2023 USD ($)	Jun. 29, 2024 EUR (€)	Mar. 30, 2024 USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative contract maturity term (up to)	20 months
Loss on derivatives recognized in net loss		$ 8.4
Net pretax deferred losses for foreign currency exchange contracts that are expected to be reclassified to earnings during next 12 months	$ 4.0
Pre-tax deferred gain for interest rate swap contracts that are expected to be reclassified to earnings during next 12 months	1.7
Net Investment Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount | €			€ 2.0
Gain (loss) on derivative used in net investment hedge	10.8	(10.4)
Foreign exchange contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	3,100.0	3,500.0		$ 3,100.0
Interest rate contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	$ 500.0	$ 500.0		$ 500.0

v3.24.2.u1

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Outstanding Derivatives on Individual Contract Basis (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024	Jul. 01, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset	$ 41,357	$ 32,548	$ 32,888
Derivative Liability	(27,578)	(40,234)	(82,028)
Derivatives Designated as Hedging Instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset	39,850	31,992	32,484
Derivative Liability	(27,436)	(39,639)	(74,050)
Derivatives Designated as Hedging Instruments | Foreign exchange contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset	38,160	29,657	27,902
Derivative Liability	(27,436)	(39,639)	(74,050)
Derivatives Designated as Hedging Instruments | Interest rate contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset	1,690	2,335	4,582
Derivative Liability	0	0	0
Derivatives Not Designated as Hedging Instruments | Foreign exchange contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset	1,507	556	404
Derivative Liability	$ (142)	$ (595)	$ (7,978)

v3.24.2.u1

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Derivative Assets and Liabilities Presented in Consolidated Balance Sheet Adjusted from Current Gross (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024	Jul. 01, 2023
Derivative Asset
Gross amounts presented in the Consolidated Balance Sheets	$ 41,357	$ 32,548	$ 32,888
Gross amounts not offset in the Consolidated Balance Sheets	(6,699)	(11,322)	(27,128)
Net amounts	34,658	21,226	5,760
Derivative Liability
Gross amounts presented in the Consolidated Balance Sheets	(27,578)	(40,234)	(82,028)
Gross amounts not offset in the Consolidated Balance Sheets	6,699	11,322	27,128
Net amounts	$ (20,879)	$ (28,912)	$ (54,900)

v3.24.2.u1

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Derivatives Classified as Current or Noncurrent Based on Maturity Dates (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024	Jul. 01, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset	$ 41,357	$ 32,548	$ 32,888
Derivative Liability	(27,578)	(40,234)	(82,028)
Foreign exchange contracts | Other current assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset	33,562	26,366	26,145
Foreign exchange contracts | Accrued liabilities
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liability	(24,802)	(35,578)	(73,049)
Foreign exchange contracts | Other assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset	6,105	3,847	2,161
Foreign exchange contracts | Other liabilities
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Liability	(2,776)	(4,656)	(8,979)
Interest rate contracts | Other current assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset	1,690	2,335	0
Interest rate contracts | Other assets
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative Asset	$ 0	$ 0	$ 4,582

v3.24.2.u1

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Schedule of Effects of Cash Flow Hedging included in Consolidated Statements of Comprehensive Income (Loss) and Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives recognized in accumulated OCL	$ 20,021	$ (22,740)
Gain (loss) reclassified from accumulated OCL into net loss	(13,729)	10,680
Foreign exchange contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives recognized in accumulated OCL	19,501	(29,160)
Foreign exchange contracts | Net revenues
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) reclassified from accumulated OCL into net loss	(4,331)	1,090
Foreign exchange contracts | Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) reclassified from accumulated OCL into net loss	(10,126)	8,075
Foreign exchange contracts | Selling, general and administrative expenses
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) reclassified from accumulated OCL into net loss	(408)	1,301
Foreign exchange contracts | Other income (expense), net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) reclassified from accumulated OCL into net loss	(56)	(511)
Interest rate contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives recognized in accumulated OCL	520	6,420
Interest rate contracts | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) reclassified from accumulated OCL into net loss	$ 1,192	$ 725

v3.24.2.u1

RESTRUCTURING - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Mar. 30, 2024	Oct. 30, 2023
Restructuring Cost and Reserve [Line Items]
Cash payments	$ 14,424
Restructuring accrual	58,273	$ 60,676
Severance and employee-related benefits
Restructuring Cost and Reserve [Line Items]
Cash payments	13,527
Restructuring accrual	57,931	$ 60,331
Accrued Current Liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring accrual	55,300
Other Noncurrent Liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring accrual	3,000
Reinvent
Restructuring Cost and Reserve [Line Items]
Cash payments	$ 12,300
Reinvent | Severance and employee-related benefits
Restructuring Cost and Reserve [Line Items]
Restructuring expected cost (as a percent)			70.00%
Reinvent | Minimum
Restructuring Cost and Reserve [Line Items]
Estimated restructuring and restructuring-related charges			$ 140,000
Reinvent | Maximum
Restructuring Cost and Reserve [Line Items]
Estimated restructuring and restructuring-related charges			$ 160,000

v3.24.2.u1

RESTRUCTURING - Schedule of Components of Restructuring Charges (Details) - Reinvent - USD ($) $ in Thousands	3 Months Ended	8 Months Ended
	Jun. 29, 2024	Jun. 29, 2024
Restructuring Cost and Reserve [Line Items]
Total Reinvent Charges	$ 13,594	$ 122,312
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Severance and employee-related benefits	11,141	75,963
Contract termination and other	737	737
Asset impairments and write-downs	500	39,886
Accelerated depreciation	861	861
Cost of goods sold
Restructuring Cost and Reserve [Line Items]
Severance and employee-related benefits	181	4,691
Contract termination and other	157	157
Accelerated depreciation	$ 17	$ 17

v3.24.2.u1

RESTRUCTURING - Schedule of Other Restructuring Charges (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Restructuring Cost and Reserve [Line Items]
Total Other Restructuring Charges	$ 437	$ 695
Severance and employee-related benefits
Restructuring Cost and Reserve [Line Items]
Total Other Restructuring Charges	0	676
Contract termination and other
Restructuring Cost and Reserve [Line Items]
Total Other Restructuring Charges	$ 437	$ 19

v3.24.2.u1

RESTRUCTURING - Schedule of Restructuring Costs by Business Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Restructuring Cost and Reserve [Line Items]
Total Other Restructuring Charges	$ 437	$ 695
Operating Segments | Outdoor
Restructuring Cost and Reserve [Line Items]
Total Other Restructuring Charges	0	242
Operating Segments | Active
Restructuring Cost and Reserve [Line Items]
Total Other Restructuring Charges	0	434
Operating Segments | Work
Restructuring Cost and Reserve [Line Items]
Total Other Restructuring Charges	0	0
Corporate and other
Restructuring Cost and Reserve [Line Items]
Total Other Restructuring Charges	$ 437	$ 19

v3.24.2.u1

RESTRUCTURING - Schedule of Activity in Restructuring Accrual (Details) $ in Thousands	3 Months Ended
	Jun. 29, 2024 USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 60,676
Charges	12,216
Cash payments and settlements	(14,424)
Adjustments to accruals	(180)
Impact of foreign currency	(15)
Ending balance	58,273
Severance
Restructuring Reserve [Roll Forward]
Beginning balance	60,331
Charges	11,322
Cash payments and settlements	(13,527)
Adjustments to accruals	(180)
Impact of foreign currency	(15)
Ending balance	57,931
Other
Restructuring Reserve [Roll Forward]
Beginning balance	345
Charges	894
Cash payments and settlements	(897)
Adjustments to accruals	0
Impact of foreign currency	0
Ending balance	$ 342

v3.24.2.u1

SUBSEQUENT EVENTS (Details) - Subsequent Event - USD ($) $ / shares in Units, $ in Millions	Jul. 16, 2024	Aug. 02, 2024	Jul. 23, 2024
Supreme | Disposal Group, Held-for-Sale, Not Discontinued Operations
Subsequent Event [Line Items]
Proceeds from sale of business	$ 1,500
Global Credit Facility | Line of Credit | Revolving Credit Facility
Subsequent Event [Line Items]
Credit facility amount outstanding		$ 2,250
Dividend Declared
Subsequent Event [Line Items]
Cash dividend (in USD per share)			$ 0.09

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