V F CORP
For the period ended Dec 30, 2023. Filed Feb 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 30, 2023 · Filed Feb 7, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Intangible Assets
NOTE 5 —INTANGIBLE ASSETS
| December 2023 · March 2023 | ||||||||
|---|---|---|---|---|---|---|---|---|
| (In thousands) · WeightedAverageAmortizationPeriod · AmortizationMethod · Cost · AccumulatedAmortization · NetCarryingAmount · NetCarryingAmount | ||||||||
| Amortizable intangible assets: | ||||||||
| Customer relationships and other | 19 years | Accelerated | $264,610 | $185,650 | $78,960 | $88,902 | ||
| Indefinite-lived intangible assets: | ||||||||
| Trademarks and trade names | 2,557,785 | 2,553,919 | ||||||
| Intangible assets, net | $2,636,745 | $2,642,821 | ||||||
Amortization expense for the three and nine months ended December 2023 was $3.5 million and $10.4 million, respectively. Based on the carrying amounts of amortizable intangible assets noted above, estimated amortization expense for the next five years beginning in Fiscal 2024 is $13.7 million, $13.1 million, $12.2 million, $11.7 million and $10.8 million, respectively.
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