V F CORP
For the period ended Mar 29, 2025. Filed May 22, 2025.
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FY2025 · Filed May 22, 2025
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) | 2025 | 2024 | 2023 |
| OPERATING ACTIVITIES | |||
| Net income (loss) | $(189,716) | $(968,882) | $118,584 |
| Income (loss) from discontinued operations, net of tax | (259,040) | 49,595 | (637,150) |
| Income (loss) from continuing operations, net of tax | 69,324 | (1,018,477) | 755,734 |
| Adjustments to reconcile net income (loss) to cash provided (used) by operating activities: | |||
| Impairment of goodwill and intangible assets | 89,242 | 507,566 | — |
| Depreciation, amortization and other asset write-downs | 259,616 | 307,528 | 251,926 |
| Reduction in the carrying amount of right-of-use assets | 351,971 | 379,720 | 369,609 |
| Stock-based compensation | 73,247 | 57,829 | 40,040 |
| Provision for doubtful accounts | 15,377 | 11,170 | 3,532 |
| Pension expense in excess of (less than) contributions | (1,463) | (18,080) | 79,197 |
| Deferred income taxes | (88,544) | (383,916) | 12,441 |
| Write-off of income tax receivables and interest | — | 921,409 | — |
| Other, net | (9,515) | (2,138) | (39,090) |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (100,803) | 323,503 | (141,684) |
| Inventories | 54,102 | 521,281 | (882,771) |
| Accounts payable | (2,303) | (111,992) | 380,792 |
| Income taxes | 9,366 | (156,198) | (1,126,649) |
| Accrued liabilities | 48,847 | 27,539 | (16,079) |
| Operating lease right-of-use assets and liabilities | (353,661) | (374,063) | (365,760) |
| Other assets and liabilities | 23,686 | (107,967) | 24,778 |
| Cash provided (used) by operating activities - continuing operations | 438,489 | 884,714 | (653,984) |
| Cash provided (used) by operating activities - discontinued operations | 26,747 | 129,867 | (1,811) |
| Cash provided (used) by operating activities | 465,236 | 1,014,581 | (655,795) |
| INVESTING ACTIVITIES | |||
| Proceeds from sale of businesses, net of cash sold | 1,506,223 | — | — |
| Proceeds from sale of assets | 88,234 | 26,525 | 99,481 |
| Capital expenditures | (86,274) | (135,762) | (151,990) |
| Software purchases | (39,749) | (61,483) | (93,137) |
| Other, net | (35,930) | 12,038 | (26,251) |
| Cash provided (used) by investing activities - continuing operations | 1,432,504 | (158,682) | (171,897) |
| Cash used by investing activities - discontinued operations | (4,413) | (13,576) | (16,156) |
| Cash provided (used) by investing activities | 1,428,091 | (172,258) | (188,053) |
| FINANCING ACTIVITIES | |||
| Contingent consideration payment | — | — | (56,976) |
| Net increase (decrease) in short-term borrowings | (252,023) | 255,146 | (323,972) |
| Payments on long-term debt | (1,751,109) | (908,199) | (501,051) |
| Payment of debt issuance costs | — | (576) | (6,796) |
| Proceeds from long-term debt | — | — | 2,058,341 |
| Cash dividends paid | (140,165) | (303,140) | (702,846) |
| Proceeds from issuance of Common Stock, net of payments for tax withholdings | (2,730) | (2,846) | (2,794) |
| Cash provided (used) by financing activities | $(2,146,027) | $(959,615) | $463,906 |
Continued on next page.
F-8 VF Corporation Fiscal 2025 Form 10-K
Consolidated Statements of Cash Flows
| Year Ended March | |||
|---|---|---|---|
| (In thousands) | 2025 | 2024 | 2023 |
| Effect of foreign currency rate changes on cash, cash equivalents and restricted cash | $7,218 | $(22,069) | $(80,822) |
| Net change in cash, cash equivalents and restricted cash | (245,482) | (139,361) | (460,764) |
| Cash, cash equivalents and restricted cash — beginning of year | 676,957 | 816,318 | 1,277,082 |
| Cash, cash equivalents and restricted cash — end of year | $431,475 | $676,957 | $816,318 |
| Balances per Consolidated Balance Sheets: | |||
| Cash and cash equivalents | $429,382 | $656,376 | $799,441 |
| Other current assets | 2,093 | 2,221 | 1,305 |
| Current and other assets of discontinued operations | — | 18,351 | 15,563 |
| Other assets | — | 9 | 9 |
| Total cash, cash equivalents and restricted cash | $431,475 | $676,957 | $816,318 |
VF Corporation Fiscal 2025 Form 10-K F-9
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