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Quarterly report [Sections 13 or 15(d)]

RESTRUCTURING (Tables)

v3.25.2
RESTRUCTURING (Tables)
3 Months Ended
Jun. 28, 2025
Restructuring and Related Activities [Abstract] Ìý
Schedule of Restructuring and Related Costs
The type of cost and respective location of restructuring charges related to Reinvent within VF's Consolidated Statement of Operations for the three months ended June 2025 and 2024, and the cumulative charges recorded since the inception of Reinvent were as follows:
Three Months Ended June Cumulative Charges
(In thousands) 2025 2024
Type of Cost Location
Severance and employee-related benefits SG&A expenses $ 11,248Ìý $ 11,141Ìý $ 142,072Ìý
Severance and employee-related benefits CostÌýofÌýgoodsÌýsold 4,225Ìý 181Ìý 10,408Ìý
Contract termination and other SG&A expenses 326Ìý 737Ìý 1,063Ìý
Contract termination and other CostÌýofÌýgoodsÌýsold —Ìý 157Ìý 157Ìý
Asset impairments and write-downs SG&A expenses 2,200Ìý 500Ìý 50,369Ìý
Pension withdrawal SG&A expenses —Ìý —Ìý 3,619Ìý
Curtailment gains Other income (expense), net (531) —Ìý (1,467)
Accelerated depreciation SG&A expenses —Ìý 861Ìý 1,317Ìý
Accelerated depreciation CostÌýofÌýgoodsÌýsold —Ìý 17Ìý 17Ìý
Total Reinvent Restructuring Charges $ 17,468Ìý $ 13,594Ìý $ 207,555Ìý
The type of cost and respective location of Other Restructuring Charges within VF's Consolidated Statement of Operations for the three months ended June 2025 and 2024 were as follows:
Three Months Ended June
(In thousands) 2025 2024
Type of Cost Location
Contract termination and other SG&A expenses $ —Ìý $ 437Ìý
Total Other Restructuring Charges $ —Ìý $ 437Ìý
Schedule of Activity in Restructuring Accrual
The activity in the restructuring accrual related to Reinvent and Other Restructuring Charges for the three-month period ended June 2025 was as follows:
(In thousands) Severance Other Total
Accrual at March 2025 $ 65,250Ìý $ 337Ìý $ 65,587Ìý
Charges 15,473Ìý —Ìý 15,473Ìý
Cash payments and settlements (22,583) —Ìý (22,583)
Adjustments to accruals —Ìý —Ìý —Ìý
Impact of foreign currency 805Ìý —Ìý 805Ìý
Accrual at June 2025 $ 58,945Ìý $ 337Ìý $ 59,282Ìý