V F CORP
For the period ended Mar 30, 2024. Filed May 23, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed May 23, 2024
VFC$20.74-0.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Year Ended March | |||
|---|---|---|---|
| (In thousands) | 2024 | 2023 | 2022 |
| OPERATING ACTIVITIES | |||
| Net income (loss) | $(968,882) | $118,584 | $1,386,941 |
| Income from discontinued operations, net of tax | — | — | 170,672 |
| Income (loss) from continuing operations, net of tax | (968,882) | 118,584 | 1,216,269 |
| Adjustments to reconcile net income (loss) to cash provided (used) by operating activities: | |||
| Impairment of goodwill and intangible assets | 507,566 | 735,009 | — |
| Depreciation, amortization and other asset write-downs | 319,204 | 262,324 | 266,935 |
| Reduction in the carrying amount of right-of-use assets | 394,426 | 383,199 | 410,132 |
| Stock-based compensation | 67,332 | 60,354 | 91,358 |
| Provision for doubtful accounts | 11,170 | 3,532 | (716) |
| Pension expense in excess of (less than) contributions | (18,080) | 79,197 | (41,309) |
| Deferred income taxes | (395,100) | (53,554) | (157,489) |
| Write-off of income tax receivables and interest | 921,409 | — | — |
| Loss on extinguishment of debt | — | — | 3,645 |
| Other, net | 7,359 | (11,433) | (12,007) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 324,629 | (147,331) | (202,526) |
| Inventories | 508,584 | (890,173) | (380,851) |
| Accounts payable | (106,048) | 377,433 | 105,357 |
| Income taxes | (154,606) | (1,148,610) | 201,391 |
| Accrued liabilities | 32,952 | (91,650) | 88,213 |
| Operating lease right-of-use assets and liabilities | (390,227) | (379,963) | (444,125) |
| Other assets and liabilities | (47,107) | 47,287 | (286,079) |
| Cash provided (used) by operating activities - continuing operations | 1,014,581 | (655,795) | 858,198 |
| Cash provided by operating activities - discontinued operations | — | — | 6,090 |
| Cash provided (used) by operating activities | 1,014,581 | (655,795) | 864,288 |
| INVESTING ACTIVITIES | |||
| Business acquisitions, net of cash received | — | — | 3,760 |
| Proceeds from sale of businesses, net of cash sold | — | — | 616,928 |
| Proceeds from sale of assets | 26,615 | 99,499 | 32,542 |
| Proceeds from sale of short-term investments | — | — | 598,806 |
| Capital expenditures | (145,818) | (165,925) | (245,449) |
| Software purchases | (65,167) | (95,326) | (82,871) |
| Other, net | 12,112 | (26,301) | (19,456) |
| Cash provided (used) by investing activities - continuing operations | (172,258) | (188,053) | 904,260 |
| Cash used by investing activities - discontinued operations | — | — | (525) |
| Cash provided (used) by investing activities | (172,258) | (188,053) | 903,735 |
| FINANCING ACTIVITIES | |||
| Contingent consideration payment | — | (56,976) | — |
| Net increase (decrease) in short-term borrowings | 255,146 | (323,972) | 324,404 |
| Payments on long-term debt | (908,199) | (501,051) | (504,200) |
| Payment of debt issuance costs | (576) | (6,796) | (2,496) |
| Proceeds from long-term debt | — | 2,058,341 | — |
| Share repurchases | — | — | (350,004) |
| Cash dividends paid | (303,140) | (702,846) | (773,205) |
| Proceeds from issuance of Common Stock, net of (payments) for tax withholdings | (2,846) | (2,794) | 36,654 |
| Cash provided (used) by financing activities | $(959,615) | $463,906 | $(1,268,847) |
Continued on next page.
F-8 VF Corporation Fiscal 2024 Form 10-K
Consolidated Statements of Cash Flows
| Year Ended March | |||
|---|---|---|---|
| (In thousands) | 2024 | 2023 | 2022 |
| Effect of foreign currency rate changes on cash, cash equivalents and restricted cash | $(22,069) | $(80,822) | $(73,299) |
| Net change in cash, cash equivalents and restricted cash | (139,361) | (460,764) | 425,877 |
| Cash, cash equivalents and restricted cash — beginning of period | 816,318 | 1,277,082 | 851,205 |
| Cash, cash equivalents and restricted cash — end of period | $676,957 | $816,318 | $1,277,082 |
| Balances per Consolidated Balance Sheets: | |||
| Cash and cash equivalents | $674,605 | $814,887 | $1,275,943 |
| Other current assets | 2,221 | 1,305 | 1,109 |
| Other assets | 131 | 126 | 30 |
| Total cash, cash equivalents and restricted cash | $676,957 | $816,318 | $1,277,082 |
VF Corporation Fiscal 2024 Form 10-K F-9
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