V F CORP
For the period ended Jun 29, 2024. Filed Aug 7, 2024.
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Jun 29, 2024 · Filed Aug 7, 2024
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Reportable Segment Information
NOTE 13 —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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