V F CORP
For the period ended Sep 26, 2026. Filed Oct 28, 2026.
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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.
Sep 26, 2026 · Filed Oct 28, 2026
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Income Taxes
NOTE 13 —INCOME TAXES
The effective income tax rate for the six months ended September 2026 was 21.6% compared to 48.2% in the 2025 period. The six months ended September 2026 included a net discrete tax benefit of $4.4 million, which was comprised primarily of changes to unrecognized tax benefits and interest. Excluding the $4.4 million net discrete tax benefit in the 2026 period, the effective income tax rate would have been 23.5%. The six months ended September 2025 included a net discrete tax expense of $2.5 million, which was comprised primarily of a
$5.6 million tax expense related to stock compensation and a $3.1 million net tax benefit related to unrecognized tax benefits and interest. Excluding the $2.5 million net discrete tax expense in the 2025 period, the effective income tax rate would have been 46.5%. Without discrete items, the effective income tax rate for the six months ended September 2026 decreased by 23.0% compared with the 2025 period primarily due to changes in the jurisdictional mix of earnings.
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