V F CORP
For the period ended Jun 27, 2026. Filed Jul 29, 2026.
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Jun 27, 2026 · Filed Jul 29, 2026
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Leases
NOTE 8 —LEASES
The Company leases certain retail locations, office space, distribution facilities, machinery and equipment, and vehicles. All of these leases are operating leases. VF previously hadone finance lease for a distribution center that was sold in Fiscal 2026 as part of the Dickies divestiture. Total lease cost includes operating lease cost, variable lease cost, finance lease cost, short-term lease cost and animpairment of right-of-use assets. The components of lease cost were as follows:
| Three Months Ended June | ||
|---|---|---|
| (In thousands) | 2026 | 2025 |
| Operating lease cost | $102,847 | $98,428 |
| Other lease cost | 39,917 | 34,913 |
| Total lease cost | $142,764 | $133,341 |
During the three months ended June 2026, the Company recorded a $6.4 million impairment charge in the selling, general and administrative (“SG&A”) expenses line item in VF's Consolidated Statement of Operations for an impairment of a distribution center.
During the three months ended June 2026 and 2025, the Company paid $109.9 million and $100.0 million for operating leases, respectively. During the three months ended June 2026 and 2025, the Company obtained $85.7 million and $104.6 million of right-of-use assets in exchange for lease liabilities, respectively.
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