V.F. (VFC) 10-Q 2 Feb 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Dec. 26, 2020	Jan. 23, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 26, 2020
Document Transition Report	false
Entity File Number	1-5256
Entity Registrant Name	V. F. CORPORATION
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	23-1180120
Entity Address, Address Line One	1551 Wewatta Street
Entity Address, City or Town	Denver
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80202
City Area Code	720
Local Phone Number	778-4000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		391,713,717
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000103379
Current Fiscal Year End Date	--04-03
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock, without par value, stated capital, $0.25 per share
Trading Symbol	VFC
Security Exchange Name	NYSE
0.625% Senior Notes due 2023
Document Information [Line Items]
Title of 12(b) Security	0.625% Senior Notes due 2023
Trading Symbol	VFC23
Security Exchange Name	NYSE
0.250% Senior Notes due 2028
Document Information [Line Items]
Title of 12(b) Security	0.250% Senior Notes due 2028
Trading Symbol	VFC28
Security Exchange Name	NYSE
0.625% Senior Notes due 2032
Document Information [Line Items]
Title of 12(b) Security	0.625% Senior Notes due 2032
Trading Symbol	VFC32
Security Exchange Name	NYSE

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Dec. 26, 2020	Mar. 28, 2020	Dec. 28, 2019
Current assets
Cash and equivalents	$ 3,254,236	$ 1,369,028	$ 540,029
Accounts receivable, less allowance for doubtful accounts of: December 2020 - $39,622; March 2020 - $37,099; December 2019 - $20,374	1,411,565	1,308,051	1,539,923
Inventories	1,075,983	1,293,912	1,254,460
Short-term investments	599,403	0	0
Other current assets	383,384	444,886	356,882
Current assets of discontinued operations	560,648	611,139	464,404
Total current assets	7,285,219	5,027,016	4,155,698
Property, plant and equipment, net	955,845	954,406	867,205
Intangible assets, net	1,862,042	1,854,545	1,887,789
Goodwill	1,194,212	1,156,019	1,489,949
Operating lease right-of-use assets	1,476,503	1,273,514	1,259,066
Other assets	970,520	867,751	958,253
Other assets of discontinued operations	0	0	196,302
TOTAL ASSETS	13,744,341	11,133,251	10,814,262
Current liabilities
Short-term borrowings	299,748	1,228,812	56,001
Current portion of long-term debt	1,006	1,018	4,677
Accounts payable	412,324	407,021	389,749
Accrued liabilities	1,664,760	1,260,252	1,410,609
Current liabilities of discontinued operations	120,185	126,781	101,056
Total current liabilities	2,498,023	3,023,884	1,962,092
Long-term debt	5,786,552	2,608,269	2,110,488
Operating lease liabilities	1,211,655	1,020,651	1,014,544
Other liabilities	1,109,937	1,123,113	1,128,834
Other liabilities of discontinued operations	0	0	30,714
Total liabilities	10,606,167	7,775,917	6,246,672
Commitments and contingencies
Stockholders’ equity
Preferred Stock, par value $1; shares authorized, 25,000,000; no shares outstanding at December 2020, March 2020 or December 2019	0	0	0
Common Stock, stated value $0.25; shares authorized, 1,200,000,000; shares outstanding at December 2020 - 390,985,837; March 2020 - 388,812,158; December 2019 - 394,528,067	97,746	97,203	98,632
Additional paid-in capital	3,735,896	4,183,780	4,182,102
Accumulated other comprehensive income (loss)	(995,963)	(930,958)	(895,372)
Retained earnings	300,495	7,309	1,182,228
Total stockholders’ equity	3,138,174	3,357,334	4,567,590
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 13,744,341	$ 11,133,251	$ 10,814,262

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Dec. 26, 2020	Mar. 28, 2020	Dec. 28, 2019
Statement of Financial Position [Abstract]
Allowance for credit loss	$ 39,622	$ 37,099	$ 20,374
Preferred stock (in USD per share)	$ 1	$ 1	$ 1
Preferred stock, authorized (in shares)	25,000,000	25,000,000	25,000,000
Preferred stock, outstanding (in shares)	0	0	0
Common Stock (in USD per share)	$ 0.25	$ 0.25	$ 0.25
Common stock, authorized (in shares)	1,200,000,000	1,200,000,000	1,200,000,000
Common stock, outstanding (in shares)	390,985,837	388,812,158	394,528,067

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Income Statement [Abstract]
Net revenues	$ 2,971,541	$ 3,155,723	$ 6,656,158	$ 8,386,135
Costs and operating expenses
Cost of goods sold	1,345,024	1,351,653	3,134,381	3,704,254
Selling, general and administrative expenses	1,214,518	1,264,031	3,036,639	3,497,315
Total costs and operating expenses	2,559,542	2,615,684	6,171,020	7,201,569
Operating income	411,999	540,039	485,138	1,184,566
Interest income	2,539	4,966	7,028	15,934
Interest expense	(34,315)	(22,303)	(97,684)	(65,240)
Other income (expense), net	6,484	(22,144)	(27,059)	(18,361)
Income from continuing operations before income taxes	386,707	500,558	367,423	1,116,899
Income tax expense	59,048	78,976	74,260	4,667
Income from continuing operations	327,659	421,582	293,163	1,112,232
Income from discontinued operations, net of tax	19,581	43,421	25,186	50,993
Net income	$ 347,240	$ 465,003	$ 318,349	$ 1,163,225
Earnings per common share - basic
Continuing operations (in USD per share)	$ 0.84	$ 1.06	$ 0.75	$ 2.80
Discontinued operations (in USD per share)	0.05	0.11	0.06	0.13
Total earnings per common share - basic (in USD per share)	0.89	1.17	0.82	2.93
Earnings per common share - diluted
Continuing operations (in USD per share)	0.83	1.05	0.75	2.77
Discontinued operations (in USD per share)	0.05	0.11	0.06	0.13
Total earnings per common share - diluted (in USD per share)	$ 0.88	$ 1.16	$ 0.81	$ 2.90
Weighted average shares outstanding
Basic (in shares)	389,872	395,940	389,262	396,806
Diluted (in shares)	392,851	400,322	391,607	401,499

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 347,240	$ 465,003	$ 318,349	$ 1,163,225
Foreign currency translation and other
Gains (losses) arising during the period	9,495	46,813	(20,134)	(10,831)
Reclassification of foreign currency translation losses	0	0	42,364	0
Income tax effect	26,779	5,154	51,616	(815)
Defined benefit pension plans
Current period actuarial gains (losses)	(4,636)	35,971	(13,489)	21,361
Amortization of net deferred actuarial losses	3,020	4,203	8,781	12,236
Amortization of deferred prior service costs (credits)	(19)	13	(53)	38
Reclassification of net actuarial loss from settlement charge	544	24,943	1,116	25,462
Income tax effect	429	(16,334)	1,151	(15,835)
Derivative financial instruments
Gains (losses) arising during the period	(82,491)	(56,699)	(129,817)	9,471
Income tax effect	14,118	10,163	22,845	(759)
Reclassification of net gains realized	(4,271)	(22,563)	(35,930)	(56,746)
Income tax effect	727	3,689	6,545	9,689
Other comprehensive income (loss)	(36,305)	35,353	(65,005)	(6,729)
Comprehensive income	$ 310,935	$ 500,356	$ 253,344	$ 1,156,496

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019
OPERATING ACTIVITIES
Net income	$ 318,349	$ 1,163,225
Income from discontinued operations, net of tax	25,186	50,993
Income from continuing operations, net of tax	293,163	1,112,232
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation and amortization	204,580	194,647
Reduction in the carrying amount of right-of-use assets	309,579	282,531
Stock-based compensation	46,109	93,460
Provision for doubtful accounts	22,494	8,999
Pension expense in excess of (less than) contributions	(12,111)	9,428
Other, net	(83)	(124,122)
Changes in operating assets and liabilities:
Accounts receivable	(46,835)	(176,524)
Inventories	266,713	(82,698)
Accounts payable	(6,696)	(97,379)
Income taxes	(18,235)	(45,529)
Accrued liabilities	248,679	(80,357)
Operating lease right-of-use assets and liabilities	(254,544)	(314,465)
Other assets and liabilities	31,464	33,754
Cash provided by operating activities - continuing operations	1,084,277	813,977
Cash provided by operating activities - discontinued operations	57,779	27,649
Cash provided by operating activities	1,142,056	841,626
INVESTING ACTIVITIES
Purchases of short-term investments	(800,000)	0
Proceeds from maturities of short-term investments	200,000	0
Capital expenditures	(152,446)	(179,195)
Software purchases	(51,964)	(36,104)
Other, net	(9,116)	52,728
Cash used by investing activities - continuing operations	(813,526)	(162,571)
Cash used by investing activities - discontinued operations	(3,171)	(11,385)
Cash used by investing activities	(816,697)	(173,956)
FINANCING ACTIVITIES
Net decrease in short-term borrowings	(929,074)	(596,559)
Payments on long-term debt	(1,152)	(4,496)
Payment of debt issuance costs	(21,438)	0
Proceeds from long-term debt	2,996,090	0
Share repurchases	0	(500,003)
Cash dividends paid	(564,904)	(562,298)
Cash received from Kontoor Brands, net of cash transferred of $126.8 million	0	906,148
Proceeds from issuance of Common Stock, net of payments for tax withholdings	45,867	135,086
Cash provided (used) by financing activities	1,525,389	(622,122)
Effect of foreign currency rate changes on cash, cash equivalents and restricted cash	12,513	(4,927)
Net change in cash, cash equivalents and restricted cash	1,863,261	40,621
Cash, cash equivalents and restricted cash – beginning of year	1,411,322	556,587
Cash, cash equivalents and restricted cash – end of period	$ 3,274,583	$ 597,208

Consolidated Statements of Ca_2

Consolidated Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($) $ in Thousands	9 Months Ended
	Dec. 28, 2019	Dec. 26, 2020
Statement of Cash Flows [Abstract]
Cash Transferred	$ 126,800
Balances per Consolidated Balance Sheets:
Cash and cash equivalents	540,029	$ 3,254,236
Other current assets	3,448	1,104
Current assets of discontinued operations	43,922	18,771
Other assets	9,809	472
Total cash, cash equivalents and restricted cash	$ 597,208	$ 3,274,583

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings (Accumulated Deficit)	Retained Earnings (Accumulated Deficit)Cumulative Effect, Period of Adoption, Adjustment
Beginning balance (in shares) at Mar. 30, 2019			396,824,662
Beginning balance at Mar. 30, 2019	$ 4,298,516		$ 99,206	$ 3,921,784	$ (902,075)	$ 1,179,601
Beginning balance (Adoption of new accounting standard, ASU 2016-02) at Mar. 30, 2019		$ (2,491)					$ (2,491)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of new accounting standard, ASU 2018-02					(61,861)	61,861
Net income	1,163,225					1,163,225
Dividends on Common Stock	(562,298)					(562,298)
Share repurchases (in shares)			(5,840,550)
Share repurchases	(500,003)		$ (1,460)			(498,543)
Stock-based compensation, net (in shares)			3,543,955
Stock-based compensation, net	232,285		$ 886	260,318		(28,919)
Foreign currency translation and other	(11,646)				(11,646)
Defined benefit pension plans	43,262				43,262
Derivative financial instruments	(38,345)				(38,345)
Spin-off of Jeans Business	(54,915)				75,293	(130,208)
Ending balance (in shares) at Dec. 28, 2019			394,528,067
Ending balance at Dec. 28, 2019	4,567,590		$ 98,632	4,182,102	(895,372)	1,182,228
Beginning balance (in shares) at Sep. 28, 2019			398,865,790
Beginning balance at Sep. 28, 2019	4,647,619		$ 99,716	4,072,640	(930,725)	1,405,988
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	465,003					465,003
Dividends on Common Stock	(188,694)					(188,694)
Share repurchases (in shares)			(5,840,550)
Share repurchases	(500,003)		$ (1,460)			(498,543)
Stock-based compensation, net (in shares)			1,502,827
Stock-based compensation, net	108,312		$ 376	109,462		(1,526)
Foreign currency translation and other	51,967				51,967
Defined benefit pension plans	48,796				48,796
Derivative financial instruments	(65,410)				(65,410)
Ending balance (in shares) at Dec. 28, 2019			394,528,067
Ending balance at Dec. 28, 2019	4,567,590		$ 98,632	4,182,102	(895,372)	1,182,228
Beginning balance (in shares) at Mar. 28, 2020			388,812,158
Beginning balance at Mar. 28, 2020	3,357,334		$ 97,203	4,183,780	(930,958)	7,309
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	318,349					318,349
Dividends on Common Stock	$ (564,904)			(564,904)
Share repurchases (in shares)	0
Stock-based compensation, net (in shares)			2,173,679
Stock-based compensation, net	$ 92,400		$ 543	117,020		(25,163)
Foreign currency translation and other	73,846				73,846
Defined benefit pension plans	(2,494)				(2,494)
Derivative financial instruments	(136,357)				(136,357)
Ending balance (in shares) at Dec. 26, 2020			390,985,837
Ending balance at Dec. 26, 2020	3,138,174		$ 97,746	3,735,896	(995,963)	300,495
Beginning balance (in shares) at Sep. 26, 2020			389,964,718
Beginning balance at Sep. 26, 2020	2,945,238		$ 97,491	3,852,358	(959,658)	(44,953)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	347,240					347,240
Dividends on Common Stock	(191,266)			(191,266)
Stock-based compensation, net (in shares)			1,021,119
Stock-based compensation, net	73,267		$ 255	74,804		(1,792)
Foreign currency translation and other	36,274				36,274
Defined benefit pension plans	(662)				(662)
Derivative financial instruments	(71,917)				(71,917)
Ending balance (in shares) at Dec. 26, 2020			390,985,837
Ending balance at Dec. 26, 2020	$ 3,138,174		$ 97,746	$ 3,735,896	$ (995,963)	$ 300,495

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Statement of Stockholders' Equity [Abstract]
Dividends on Common Stock (in usd per share)	$ 0.49	$ 0.48	$ 1.45	$ 1.42

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Dec. 26, 2020
Accounting Policies [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION VF Corporation (together with its subsidiaries, collectively known as “VF” or the “Company”) uses a 52/53 week fiscal year ending on the Saturday closest to March 31 of each year. The Company's current fiscal year runs from March 29, 2020 through April 3, 2021 ("Fiscal 2021"). Accordingly, this Form 10-Q presents our third quarter of Fiscal 2021. For presentation purposes herein, all references to periods ended December 2020 and December 2019 relate to the fiscal periods ended on December 26, 2020 and December 28, 2019, respectively. References to March 2020 relate to information as of March 28, 2020. On January 21, 2020, VF announced its decision to explore the divestiture of its Occupational Workwear business. The Occupational Workwear business is comprised primarily of the following brands and businesses: Red Kap ® , VF Solutions ® , Bulwark ® , Workrite ® , Walls ® , Terra ® , Kodiak ® , Work Authority ® and Horace Small ® . The business also includes certain Dickies ® occupational workwear products that have historically been sold through the business-to-business channel. During the three months ended March 2020, the Company determined that the Occupational Workwear business met the held-for-sale and discontinued operations accounting criteria. Accordingly, the Company has reported the results of the Occupational Workwear business and the related cash flows as discontinued operations in the Consolidated Statements of Operations and Consolidated Statements of Cash Flows, respectively. The related held-for-sale assets and liabilities have been reported as assets and liabilities of discontinued operations in the Consolidated Balance Sheets. These changes have been applied to all periods presented. On May 22, 2019, VF completed the spin-off of its Jeans business, which included the Wrangler ® , Lee ® and Rock & Republic ® brands, as well as the VF Outlet TM business, into an independent, publicly traded company. As a result, VF reported the results for the Jeans business and the related cash flows as discontinued operations in the Consolidated Statements of Operations and Consolidated Statements of Cash Flows, respectively. These changes have been applied to all periods presented. Certain prior year amounts have been reclassified to conform to the Fiscal 2021 presentation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X and do not include all of the information and notes required by generally accepted accounting principles in the United States of America (“GAAP”) for complete financial statements. Similarly, the March 2020 condensed consolidated balance sheet was derived from audited financial statements but does not include all disclosures required by GAAP. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all normal and recurring adjustments necessary to fairly state the consolidated financial position, results of operations and cash flows of VF for the interim periods presented. Operating results for the three and nine months ended December 2020 are not necessarily indicative of results that may be expected for any other interim period or for Fiscal 2021. For further information, refer to the consolidated financial statements and notes included in VF’s Annual Report on Form 10-K for the year ended March 28, 2020 (“Fiscal 2020 Form 10-K”). In preparing the condensed consolidated financial statements, management makes estimates and assumptions that affect amounts reported in the condensed consolidated financial statements and accompanying notes. The duration and severity of the novel coronavirus ("COVID-19") pandemic, which is subject to uncertainty, is having a significant impact on VF's business. Management's estimates and assumptions have contemplated both current and expected impacts related to COVID-19 based on available information. Actual results may differ from those estimates.

RECENTLY ADOPTED AND ISSUED ACC

RECENTLY ADOPTED AND ISSUED ACCOUNTING STANDARDS	9 Months Ended
	Dec. 26, 2020
Accounting Changes and Error Corrections [Abstract]
RECENTLY ADOPTED AND ISSUED ACCOUNTING STANDARDS	RECENTLY ADOPTED AND ISSUED ACCOUNTING STANDARDS Recently Adopted Accounting Standards In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-13, " Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ", which requires entities to use a forward-looking approach based on expected losses to estimate credit losses on certain types of financial instruments, including trade receivables. The FASB has subsequently issued updates to the standard to provide additional clarification on specific topics. The guidance became effective for VF in the first quarter of Fiscal 2021, but did not have a material impact on VF's consolidated financial statements. As a result of the adoption of this guidance, the following significant accounting policy from the Company’s Fiscal 2020 Form 10-K has been updated: Accounts Receivable Trade accounts receivable are recorded at invoiced amounts, less contractual allowances for trade terms, sales incentive programs and discounts. Royalty receivables are recorded at amounts earned based on the licensees' sales of licensed products, subject in some cases to contractual minimum royalties due from individual licensees. VF maintains an allowance for doubtful accounts for estimated losses that will result from the inability of customers and licensees to make required payments. The allowance is determined based on review of specific customer accounts where collection is doubtful, as well as an assessment of the collectability of total receivables, which are grouped based on similar risk characteristics, considering historical trends, adjusted for current economic conditions and reasonable and supportable forecasts when appropriate. The allowance represents the current estimate of lifetime expected credit losses for all outstanding accounts receivable and reflects the Company's ongoing evaluation of collectability, customer creditworthiness, historical levels of credit losses and future expectations. Receivables are written off against the allowance when it is determined that the amounts will not be recovered. In August 2018, the FASB issued ASU No. 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement" , an update that modifies the disclosure requirements for fair value measurements by removing, modifying or adding certain disclosures. The guidance became effective for VF in the first quarter of Fiscal 2021, but did not have a material impact on VF's disclosures. In August 2018, the FASB issued ASU No. 2018-15, "Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract" , an update that aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The guidance became effective for VF in the first quarter of Fiscal 2021, but did not have a material impact on VF's consolidated financial statements. Recently Issued Accounting Standards In August 2018, the FASB issued ASU No. 2018-14, "Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans" , an update that modifies the annual disclosure requirements for employers who sponsor defined benefit pension or other postretirement plans. The guidance is effective for VF in Fiscal 2021, but the Company does not expect the adoption of this guidance to have a material impact on VF's annual disclosures. In December 2019, the FASB issued ASU No. 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes" , an update that amends and simplifies the accounting for income taxes by removing certain exceptions in existing guidance and providing new guidance to reduce complexity in certain areas. The guidance will be effective for VF in the first quarter of the year ending April 2, 2022 ("Fiscal 2022") with early adoption permitted. The Company does not expect the adoption of this guidance to have a material impact on VF's consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting" , an update that provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The optional guidance is provided to ease the potential burden of accounting for reference rate reform. The guidance is effective and can be adopted no later than December 31, 2022. The Company is evaluating the impact that adopting this guidance would have on VF's consolidated financial statements.

REVENUES

REVENUES	9 Months Ended
	Dec. 26, 2020
Revenue from Contract with Customer [Abstract]
REVENUES	REVENUES The following table provides information about accounts receivable, contract assets and contract liabilities: (In thousands) December 2020 March 2020 December 2019 Accounts receivable, net $ 1,411,565 $ 1,308,051 $ 1,539,923 Contract assets (a) 1,512 1,181 1,789 Contract liabilities (b) 55,995 37,498 54,260 (a) Included in the other current assets line item in the Consolidated Balance Sheets. (b) Included in the accrued liabilities line item in the Consolidated Balance Sheets. For the three and nine months ended December 2020, the Company recognized $75.2 million and $195.9 million, respectively, of revenue that was included in the contract liability balance during the periods, including amounts recorded as a contract liability and subsequently recognized as revenue as performance obligations were satisfied within the same period, such as order deposits from customers. The change in the contract asset and contract liability balances primarily results from the timing differences between the Company's satisfaction of performance obligations and the customer's payment. For the three and nine months ended December 2020, revenue recognized from performance obligations satisfied, or partially satisfied, in prior periods was not material. As of December 2020, the Company expects to recognize $68.6 million of fixed consideration related to the future minimum guarantees in effect under its licensing agreements and expects such amounts to be recognized over time based on the contractual terms, including $5.8 million during the remainder of Fiscal 2021. The variable consideration related to licensing arrangements is not disclosed as a remaining performance obligation as it qualifies for the sales-based royalty exemption. VF has also elected the practical expedient to not disclose the transaction price allocated to remaining performance obligations for contracts with an original expected duration of one year or less. As of December 2020, there were no arrangements with transaction price allocated to remaining performance obligations other than contracts for which the Company has applied the practical expedients and the fixed consideration related to future minimum guarantees discussed above. Disaggregation of Revenue The following tables disaggregate our revenues by channel and geography, which provides a meaningful depiction of how the nature, timing and uncertainty of revenues were affected by economic factors. The wholesale channel includes fees generated from sourcing activities as the customers and point-in-time revenue recognition are similar to other wholesale arrangements. Three Months Ended December 2020 (In thousands) Outdoor Active Work Other Total Channel revenues Wholesale $ 763,743 $ 465,857 $ 200,872 $ 3,106 $ 1,433,578 Direct-to-consumer 804,711 655,922 63,470 89 1,524,192 Royalty 2,589 5,342 5,840 — 13,771 Total $ 1,571,043 $ 1,127,121 $ 270,182 $ 3,195 $ 2,971,541 Geographic revenues United States $ 776,674 $ 620,261 $ 170,760 $ — $ 1,567,695 International 794,369 506,860 99,422 3,195 1,403,846 Total $ 1,571,043 $ 1,127,121 $ 270,182 $ 3,195 $ 2,971,541 Three Months Ended December 2019 (In thousands) Outdoor Active Work Other Total Channel revenues Wholesale $ 857,939 $ 527,206 $ 196,342 $ 4,750 $ 1,586,237 Direct-to-consumer 796,632 706,186 46,384 1,340 1,550,542 Royalty 4,537 6,070 8,337 — 18,944 Total $ 1,659,108 $ 1,239,462 $ 251,063 $ 6,090 $ 3,155,723 Geographic revenues United States $ 903,184 $ 686,733 $ 162,411 $ — $ 1,752,328 International 755,924 552,729 88,652 6,090 1,403,395 Total $ 1,659,108 $ 1,239,462 $ 251,063 $ 6,090 $ 3,155,723 Nine Months Ended December 2020 (In thousands) Outdoor Active Work Other Total Channel revenues Wholesale $ 1,746,203 $ 1,371,889 $ 527,378 $ 4,381 $ 3,649,851 Direct-to-consumer 1,314,386 1,510,354 144,113 297 2,969,150 Royalty 6,089 16,396 14,672 — 37,157 Total $ 3,066,678 $ 2,898,639 $ 686,163 $ 4,678 $ 6,656,158 Geographic revenues United States $ 1,451,827 $ 1,472,145 $ 446,850 $ — $ 3,370,822 International 1,614,851 1,426,494 239,313 4,678 3,285,336 Total $ 3,066,678 $ 2,898,639 $ 686,163 $ 4,678 $ 6,656,158 Nine Months Ended December 2019 (In thousands) Outdoor Active Work Other Total Channel revenues Wholesale $ 2,375,117 $ 1,897,118 $ 547,104 $ 22,730 $ 4,842,069 Direct-to-consumer 1,410,658 1,969,700 110,356 7,692 3,498,406 Royalty 9,890 18,404 17,366 — 45,660 Total $ 3,795,665 $ 3,885,222 $ 674,826 $ 30,422 $ 8,386,135 Geographic revenues United States $ 1,943,491 $ 2,109,479 $ 454,565 $ — $ 4,507,535 International 1,852,174 1,775,743 220,261 30,422 3,878,600 Total $ 3,795,665 $ 3,885,222 $ 674,826 $ 30,422 $ 8,386,135

ACQUISITION

ACQUISITION	9 Months Ended
	Dec. 26, 2020
Business Combinations [Abstract]
ACQUISITION	ACQUISITION On November 8, 2020, VF entered into a definitive merger agreement to acquire 100% of the outstanding shares of Supreme Holdings, Inc. ("Supreme"). The acquisition was completed on December 28, 2020, in VF's fourth quarter of Fiscal 2021, for an aggregate base purchase price of $2.1 billion, which was funded with cash on hand and short-term borrowings. At the end of the third quarter, VF designated $2.2 billion of cash for the acquisition, which is included in the cash and equivalents line item in the Consolidated Balance Sheet as of December 2020, as there were no legal or other restrictions related to these amounts. The base purchase price is subject to working capital and other adjustments. VF may make an additional future payment of up to $300.0 million, subject to the satisfaction of certain post-closing performance milestones through January 2022. Supreme was a privately-held company based in New York, New York and is a global streetwear leader that sells apparel, accessories and footwear under its namesake brand, Supreme ® , through direct-to-consumer channels, including digital. The acquisition of Supreme accelerates VF's consumer-minded, retail-centric, hyper-digital business model transformation and builds on a long-standing relationship between Supreme and VF, with the Supreme ® brand being a regular collaborator with VF's Vans ® , The North Face ® and Timberland ® brands. The acquisition also provides VF with deeper access to attractive consumer segments and the ability to leverage VF's enterprise platforms and capabilities to enable sustainable long-term growth. The Company recognized $6.6 million of transaction and deal-related expenses in the three and nine months ended December 2020 in the selling, general and administrative expenses line item in the Consolidated Statements of Operations. In connection with the acquisition, VF deposited in escrow 605,050 shares of VF Common Stock, which are subject to certain restrictions, for a key member of Supreme management. The common shares are subject to certain future service requirements and vest over periods of up to four years. VF will recognize the stock-based compensation cost for the fair value of these awards over the vesting periods. The Company is still in the process of aligning accounting policies, determining purchase price and valuing the assets acquired and liabilities assumed, and as such, certain disclosures regarding this transaction have not been included herein.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	9 Months Ended
	Dec. 26, 2020
Discontinued Operations and Disposal Groups [Abstract]
DISCONTINUED OPERATIONS	DISCONTINUED OPERATIONS The Company continuously assesses the composition of its portfolio to ensure it is aligned with its strategic objectives and positioned to maximize growth and return to shareholders. Occupational Workwear Business On January 21, 2020, VF announced its decision to explore the divestiture of its Occupational Workwear business. The Occupational Workwear business is comprised primarily of the following brands and businesses: Red Kap ® , VF Solutions ® , Bulwark ® , Workrite ® , Walls ® , Terra ® , Kodiak ® , Work Authority ® and Horace Small ® . The business also includes certain Dickies ® occupational workwear products that have historically been sold through the business-to-business channel. During the three months ended March 2020, the Company determined the Occupational Workwear business met the held-for-sale and discontinued operations accounting criteria. Accordingly, the Company has reported the results of the Occupational Workwear business and the related cash flows as discontinued operations in the Consolidated Statements of Operations and Consolidated Statements of Cash Flows, respectively. The related held-for-sale assets and liabilities have been reported as assets and liabilities of discontinued operations in the Consolidated Balance Sheets. The results of the Occupational Workwear business were previously reported in the Work segment. The results of the Occupational Workwear business recorded in the income from discontinued operations, net of tax line item in the Consolidated Statements of Operations were income of $19.6 million and $25.2 million for the three and nine months ended December 2020, respectively, and $31.1 million and $86.8 million for the three and nine months ended December 2019, respectively. Certain corporate overhead costs and segment costs previously allocated to the Occupational Workwear business for segment reporting purposes did not qualify for classification within discontinued operations and have been reallocated to continuing operations. Jeans Business On May 22, 2019, VF completed the spin-off its Jeans business, which included the Wrangler ® , Lee ® and Rock & Republic ® brands, as well as the VF Outlet TM business, into an independent, publicly traded company now operating under the name Kontoor Brands, Inc. ("Kontoor Brands") and trading under the symbol "KTB" on the New York Stock Exchange. The spin-off was effected through a distribution to VF shareholders of one share of Kontoor Brands common stock for every seven shares of VF common stock held on the record date of May 10, 2019. Accordingly, the Company has reported the results of the Jeans business and the related cash flows as discontinued operations in the Consolidated Statements of Operations and Consolidated Statements of Cash Flows, respectively. In connection with the spin-off, Kontoor Brands entered into a credit agreement with respect to $1.55 billion in senior secured credit facilities consisting of a senior secured five-year $750.0 million term loan A facility, a senior secured seven-year $300.0 million term loan B facility and a five-year $500.0 million senior secured revolving credit facility (collectively, the "Kontoor Credit Facilities"). Prior to the effective date of the spin-off, Kontoor Brands incurred $1.05 billion of indebtedness under the Kontoor Credit Facilities, which was primarily used to fund a transfer of $906.1 million to VF and its subsidiaries, net of $126.8 million of cash received from VF. As a result of the spin-off, VF divested net assets of $54.9 million, including the indebtedness under the Kontoor Credit Facilities. Also included in the net assets divested was $75.3 million of net accumulated other comprehensive losses attributable to the Jeans business, primarily related to foreign currency translation. The results of the Wrangler ® , Lee ® and Rock & Republic ® brands were previously reported in the Jeans segment, the results of the Wrangler ® RIGGS brand were previously reported in the Work segment, and the results of the non-VF products sold in VF Outlet TM stores were previously reported in the Other category included in the reconciliation of segment revenues and segment profit. The results of the Jeans business recorded in the income from discontinued operations, net of tax line item in the Consolidated Statement of Operations were income of $12.3 million and a loss of $35.8 million for the three and nine months ended December 2019, respectively, including $59.5 million of separation and related expenses during the nine months ended December 2019. In connection with the spin-off of the Jeans business, the Company entered into several agreements with Kontoor Brands that govern the relationship of the parties following the spin-off including the Separation and Distribution Agreement, the Tax Matters Agreement, the Transition Services Agreement, the VF Intellectual Property License Agreement and the Employee Matters Agreement. Under the terms of the Transition Services Agreement, the Company and Kontoor Brands agreed to provide each other certain transitional services including information technology, information management, human resources, employee benefits administration, supply chain, facilities, and other limited finance and accounting related services for periods up to 24 months. VF and Kontoor Brands have agreed to continue certain services on commercial terms, primarily related to information technology services, for various periods but no longer than through May 31, 2022. Payments and operating expense reimbursements for transition services are recorded within the reportable segments or within the corporate and other expenses line item, in the reconciliation of segment profit in Note 15, based on the function providing the service. Summarized Discontinued Operations Financial Information The following table summarizes the major line items for the Occupational Workwear business and the Jeans business that are included in the income from discontinued operations, net of tax line item in the Consolidated Statements of Operations: Three Months Ended December Nine Months Ended December (In thousands) 2020 2019 2020 2019 Net revenues $ 176,464 $ 229,023 $ 464,107 $ 998,561 Cost of goods sold 115,801 148,810 330,418 632,754 Selling, general and administrative expenses 35,576 41,450 103,743 279,933 Interest income, net 68 523 541 1,115 Other income (expense), net 22 (8) 101 (672) Income from discontinued operations before income taxes 25,177 39,278 30,588 86,317 Income tax expense (benefit) (a) 5,596 (4,143) 5,402 35,324 Income from discontinued operations, net of tax $ 19,581 $ 43,421 $ 25,186 $ 50,993 (a) Income tax benefit for the three months ended December 2019 reflects a return to accrual adjustment to the previously recorded tax expense related to the Jeans business. Income tax expense for the nine months ended December 2019 includes additional tax expense on nondeductible transaction costs and uncertain tax positions related to the Jeans business. The following table summarizes the carrying amounts of major classes of assets and liabilities of discontinued operations for each of the periods presented: (In thousands) December 2020 March 2020 December 2019 Cash and equivalents $ 18,771 $ 39,752 $ 43,922 Accounts receivable, net 91,554 83,650 101,835 Inventories 242,204 294,000 310,510 Other current assets 12,802 6,701 8,137 Property, plant and equipment, net 48,605 44,863 41,566 Intangible assets, net 54,472 54,471 60,443 Goodwill 43,530 43,530 49,630 Operating lease right-of-use assets 42,930 38,941 39,565 Other assets 5,780 5,231 5,098 Total assets of discontinued operations $ 560,648 $ 611,139 $ 660,706 Accounts payable $ 50,434 $ 63,380 $ 67,244 Accrued liabilities 34,470 29,699 33,812 Operating lease liabilities 33,073 35,867 38,310 Other liabilities 6,303 2,270 2,651 Deferred income tax liabilities (a) (4,095) (4,435) (10,247) Total liabilities of discontinued operations $ 120,185 $ 126,781 $ 131,770

INVENTORIES

INVENTORIES	9 Months Ended
	Dec. 26, 2020
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES (In thousands) December 2020 March 2020 December 2019 Finished products $ 1,008,796 $ 1,201,562 $ 1,164,967 Work-in-process 55,352 67,603 66,124 Raw materials 11,835 24,747 23,369 Total inventories $ 1,075,983 $ 1,293,912 $ 1,254,460

INTANGIBLE ASSETS

INTANGIBLE ASSETS	9 Months Ended
	Dec. 26, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSETS	INTANGIBLE ASSETS December 2020 March 2020 (In thousands) Weighted Amortization Cost Accumulated Net Net Amortizable intangible assets: Customer relationships 19 years Accelerated $ 271,910 $ 149,553 $ 122,357 $ 137,017 License agreements 19 years Accelerated 8,095 5,478 2,617 2,548 Other 8 years Straight-line 8,796 6,440 2,356 2,909 Amortizable intangible assets, net 127,330 142,474 Indefinite-lived intangible assets: Trademarks and trade names 1,734,712 1,712,071 Intangible assets, net $ 1,862,042 $ 1,854,545 Amortization expense for the three and nine months ended December 2020 was $4.3 million and $13.2 million, respectively. Based on the carrying amounts of amortizable intangible assets noted above, estimated amortization expense for the next five years beginning in Fiscal 2021 is $17.0 million, $15.4 million, $14.3 million, $13.8 million and $13.3 million, respectively.

GOODWILL

GOODWILL	9 Months Ended
	Dec. 26, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL Changes in goodwill are summarized by reportable segment as follows: (In thousands) Outdoor Active Work Total Balance, March 2020 $ 653,433 $ 389,848 $ 112,738 $ 1,156,019 Currency translation 14,772 21,618 1,803 38,193 Balance, December 2020 $ 668,205 $ 411,466 $ 114,541 $ 1,194,212

LEASES

LEASES	9 Months Ended
	Dec. 26, 2020
Leases [Abstract]
LEASES	LEASES The Company leases certain retail locations, office space, distribution facilities, machinery and equipment, and vehicles. The substantial majority of these leases are operating leases. Total lease cost includes operating lease cost, variable lease cost, finance lease cost, short-term lease cost, impairment and gain recognized from sale-leaseback transactions. Components of lease cost were as follows: Three Months Ended December Nine Months Ended December (In thousands) 2020 2019 2020 2019 Operating lease cost $ 110,970 $ 103,339 $ 326,501 $ 309,950 Other lease costs 19,336 36,165 53,906 85,271 Total lease cost $ 130,306 $ 139,504 $ 380,407 $ 395,221 During the nine months ended December 2020 and 2019, the Company paid $289.4 million and $314.7 million of cash for operating leases, respectively. The decrease was primarily driven by the timing of payments and lease concessions related to the effects of COVID-19. During the nine months ended December 2020 and 2019, the Company obtained $506.7 million and $347.9 million of right-of-use assets in exchange for lease liabilities, respectively.
LEASES	LEASES The Company leases certain retail locations, office space, distribution facilities, machinery and equipment, and vehicles. The substantial majority of these leases are operating leases. Total lease cost includes operating lease cost, variable lease cost, finance lease cost, short-term lease cost, impairment and gain recognized from sale-leaseback transactions. Components of lease cost were as follows: Three Months Ended December Nine Months Ended December (In thousands) 2020 2019 2020 2019 Operating lease cost $ 110,970 $ 103,339 $ 326,501 $ 309,950 Other lease costs 19,336 36,165 53,906 85,271 Total lease cost $ 130,306 $ 139,504 $ 380,407 $ 395,221 During the nine months ended December 2020 and 2019, the Company paid $289.4 million and $314.7 million of cash for operating leases, respectively. The decrease was primarily driven by the timing of payments and lease concessions related to the effects of COVID-19. During the nine months ended December 2020 and 2019, the Company obtained $506.7 million and $347.9 million of right-of-use assets in exchange for lease liabilities, respectively.

SHORT-TERM BORROWINGS AND LONG-

SHORT-TERM BORROWINGS AND LONG-TERM DEBT	9 Months Ended
	Dec. 26, 2020
Debt Disclosure [Abstract]
SHORT-TERM BORROWINGS AND LONG-TERM DEBT	SHORT-TERM BORROWINGS AND LONG-TERM DEBT Revolving Credit Facility In April 2020, VF entered into Amendment No. 1 to its $2.25 billion senior unsecured revolving line of credit (the "Global Credit Facility") (the “Amendment”). The Amendment provides for (i) an increase in VF’s consolidated indebtedness to consolidated capitalization ratio financial covenant to 0.70 to 1.00 (from 0.60 to 1.00) through the last day of the fiscal quarter ending March 31, 2022, (ii) calculation of consolidated indebtedness (and, thereby consolidated capitalization) net of unrestricted cash of VF and its subsidiaries and (iii) testing of such financial covenant solely as of the last day of each fiscal quarter during such period. In addition, the Amendment requires VF and its subsidiaries to maintain minimum liquidity in the form of unrestricted cash and unused financing commitments of not less than $750.0 million at all times during such period. As of December 2020 , VF was in compliance with all covenants. Short-term Borrowings VF has a commercial paper program that allows for borrowings of up to $2.25 billion to the extent that it has borrowing capacity under the Global Credit Facility. Commercial paper borrowings as of December 2020 were $286.0 million. VF also has $71.2 million of international lines of credit with various banks, which are uncommitted and may be terminated at any time by either VF or the banks. Total outstanding balances under these arrangements were $13.7 million at December 2020. Senior Notes Issuance In April 2020, VF issued senior unsecured notes, as outlined in the table below: (Dollars in thousands) Scheduled Maturity Aggregate Principal Effective Annual Interest Rate Interest Payments 2.050% notes, due 2022 $ 1,000,000 2.277 % Semiannually 2.400% notes, due 2025 750,000 2.603 % Semiannually 2.800% notes, due 2027 500,000 2.953 % Semiannually 2.950% notes, due 2030 750,000 3.071 % Semiannually Total Issuance $ 3,000,000 VF used a portion of the net proceeds from this offering to repay borrowings under its Global Credit Facility. The aggregate outstanding balance of these notes was $2.98 billion at December 2020, which was net of unamortized original issue discount and debt issuance costs.

PENSION PLANS

PENSION PLANS	9 Months Ended
	Dec. 26, 2020
Retirement Benefits [Abstract]
PENSION PLANS	PENSION PLANS The components of pension cost (income) for VF’s defined benefit plans were as follows: Three Months Ended December Nine Months Ended December (In thousands) 2020 2019 2020 2019 Service cost – benefits earned during the period $ 3,837 $ 3,401 $ 11,252 $ 10,192 Interest cost on projected benefit obligations 11,764 14,581 35,693 44,085 Expected return on plan assets (20,586) (23,176) (61,696) (69,505) Settlement charges 544 24,943 1,116 25,462 Amortization of deferred amounts: Net deferred actuarial losses 3,020 4,203 8,781 12,236 Deferred prior service costs (credits) (19) 13 (53) 38 Net periodic pension cost (income) $ (1,440) $ 23,965 $ (4,907) $ 22,508 The amounts reported in these disclosures have not been segregated between continuing and discontinued operations. VF has reported the service cost component of net periodic pension cost (income) in operating income and the other components, which include interest cost, expected return on plan assets, settlement charges and amortization of deferred actuarial losses and prior service costs (credits), in the other income (expense), net line item in the Consolidated Statements of Operations. VF contributed $7.3 million to its defined benefit plans during the nine months ended December 2020, and intends to make approximately $11.5 million of contributions during the remainder of Fiscal 2021. VF recorded $0.5 million and $1.1 million in settlement charges in the other income (expense), net line item in the Consolidated Statements of Operations for the three and nine months ended December 2020, respectively. The settlement charges related to the recognition of deferred actuarial losses resulting from lump sum payments of retirement benefits in the supplemental defined benefit pension plan. Actuarial assumptions used in the interim valuations were reviewed and revised as appropriate. The discount rate used to determine the supplemental defined benefit pension obligation was 2.62% and 2.87% as of December 2020 and September 2020, respectively. Additionally, during the three months ended December 2019, the Company offered former employees in the U.S. qualified defined benefit pension plan a one-time option to receive a distribution of their deferred vested benefits. As a result, VF recorded a $22.9 million settlement charge in the other income (expense),

CAPITAL AND ACCUMULATED OTHER C

CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	9 Months Ended
	Dec. 26, 2020
Equity [Abstract]
CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) Common Stock During the nine months ended December 2020, the Company did not purchase shares of Common Stock in open market transactions under its share repurchase program authorized by VF’s Board of Directors. These are treated as treasury stock transactions when shares are repurchased. Common Stock outstanding is net of shares held in treasury which are, in substance, retired. There were no shares held in treasury at the end of December 2020, March 2020 or December 2019. The excess of the cost of treasury shares acquired over the $0.25 per share stated value of Common Stock is deducted from retained earnings. Accumulated Other Comprehensive Income (Loss) Comprehensive income consists of net income and specified components of other comprehensive income (“OCI”), which relates to changes in assets and liabilities that are not included in net income under GAAP but are instead deferred and accumulated within a separate component of stockholders’ equity in the balance sheet. VF’s comprehensive income is presented in the Consolidated Statements of Comprehensive Income. The deferred components of OCI are reported, net of related income taxes, in accumulated OCI in stockholders’ equity, as follows: (In thousands) December 2020 March 2020 December 2019 Foreign currency translation and other $ (663,863) $ (737,709) $ (663,319) Defined benefit pension plans (264,966) (262,472) (249,530) Derivative financial instruments (67,134) 69,223 17,477 Accumulated other comprehensive income (loss) $ (995,963) $ (930,958) $ (895,372) The changes in accumulated OCI, net of related taxes, were as follows: Three Months Ended December 2020 (In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total Balance, September 2020 $ (700,137) $ (264,304) $ 4,783 $ (959,658) Other comprehensive income (loss) before reclassifications 36,274 (3,541) (68,373) (35,640) Amounts reclassified from accumulated other comprehensive income (loss) — 2,879 (3,544) (665) Net other comprehensive income (loss) 36,274 (662) (71,917) (36,305) Balance, December 2020 $ (663,863) $ (264,966) $ (67,134) $ (995,963) Three Months Ended December 2019 (In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total Balance, September 2019 $ (715,286) $ (298,326) $ 82,887 $ (930,725) Other comprehensive income (loss) before reclassifications 51,967 26,827 (46,536) 32,258 Amounts reclassified from accumulated other comprehensive income (loss) — 21,969 (18,874) 3,095 Net other comprehensive income (loss) 51,967 48,796 (65,410) 35,353 Balance, December 2019 $ (663,319) $ (249,530) $ 17,477 $ (895,372) Nine Months Ended December 2020 (In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total Balance, March 2020 $ (737,709) $ (262,472) $ 69,223 $ (930,958) Other comprehensive income (loss) before reclassifications 31,482 (10,183) (106,972) (85,673) Amounts reclassified from accumulated other comprehensive income (loss) 42,364 7,689 (29,385) 20,668 Net other comprehensive income (loss) 73,846 (2,494) (136,357) (65,005) Balance, December 2020 $ (663,863) $ (264,966) $ (67,134) $ (995,963) Nine Months Ended December 2019 (In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total Balance, March 2019 $ (725,679) $ (243,184) $ 66,788 $ (902,075) Adoption of new accounting standard, ASU 2018-02 (9,088) (50,402) (2,371) (61,861) Other comprehensive income (loss) before reclassifications (11,646) 15,108 8,712 12,174 Amounts reclassified from accumulated other comprehensive income (loss) — 28,154 (47,057) (18,903) Spin-off of Jeans Business 83,094 794 (8,595) 75,293 Net other comprehensive income (loss) 62,360 (6,346) (49,311) 6,703 Balance, December 2019 $ (663,319) $ (249,530) $ 17,477 $ (895,372) Reclassifications out of accumulated OCI were as follows: (In thousands) Three Months Ended December Nine Months Ended December Details About Accumulated Other Comprehensive Income (Loss) Components Affected Line Item in the Consolidated Statements of Operations 2020 2019 2020 2019 Losses on foreign currency translation and other: Liquidation of foreign entities Other income (expense), net $ — $ — $ (42,364) $ — Total before tax — — (42,364) — Tax (expense) benefit — — — — Net of tax — — (42,364) — Amortization of defined benefit pension plans: Net deferred actuarial losses Other income (expense), net (3,020) (4,203) (8,781) (12,236) Deferred prior service (costs) credits Other income (expense), net 19 (13) 53 (38) Pension settlement charges Other income (expense), net (544) (24,943) (1,116) (25,462) Total before tax (3,545) (29,159) (9,844) (37,736) Tax benefit 666 7,190 2,155 9,582 Net of tax (2,879) (21,969) (7,689) (28,154) Gains (losses) on derivative financial instruments: Foreign exchange contracts Net revenues 4,048 (5,507) 6,354 (11,226) Foreign exchange contracts Cost of goods sold 224 27,157 25,372 60,989 Foreign exchange contracts Selling, general and administrative expenses 586 1,231 2,934 3,329 Foreign exchange contracts Other income (expense), net (613) 1,006 1,190 7,574 Interest rate contracts Interest expense 26 (1,324) 80 (3,920) Total before tax 4,271 22,563 35,930 56,746 Tax expense (727) (3,689) (6,545) (9,689) Net of tax 3,544 18,874 29,385 47,057 Total reclassifications for the period, net of tax $ 665 $ (3,095) $ (20,668) $ 18,903

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Dec. 26, 2020
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION Incentive Equity Awards Granted During the nine months ended December 2020, VF granted stock options to employees and nonemployee members of VF's Board of Directors to purchase 1,687,794 shares of its Common Stock at a weighted average exercise price of $55.79 per share. The exercise price of each option granted was equal to the fair market value of VF Common Stock on the date of grant. Employee stock options vest in equal annual installments over three years. Stock options granted to nonemployee members of VF's Board of Directors vest upon grant and become exercisable one year from the date of grant. All options have ten-year terms. The grant date fair value of each option award was calculated using a lattice option-pricing valuation model, which incorporated a range of assumptions for inputs as follows: Nine Months Ended December 2020 Expected volatility 28% to 48% Weighted average expected volatility 37% Expected term (in years) 6.2 to 8.0 Weighted average dividend yield 2.4% Risk-free interest rate 0.1% to 0.8% Weighted average fair value at date of grant $15.79 During the nine months ended December 2020, VF granted 398,203 performance-based restricted stock units ("RSUs") to employees that enable them to receive shares of VF Common Stock at the end of a three-year performance cycle. Each performance-based RSU has a potential final payout ranging from zero to two shares of VF Common Stock. The number of shares earned by participants, if any, is based on achievement of three-year financial targets set by the Tal ent and Compensation Committee of the Board of Directors. Shares will be issued to participants in the year following the conclusion of the three-year performance period. The weighted average fair market value of VF Common Stock at the dates the units were granted was $60.12 per share. The financial targets include 50% weighting based on VF's revenue growth over the three-year period compared to a group of industry peers and 50% weighting based on VF's total shareholder return ("TSR") over the three-year period compared to the TSR for companies included in the Standard & Poor's 500 Consumer Discretionary Index. The grant date fair value of the TSR portion of the performance-based RSU grants was determined using a Monte Carlo simulation technique that incorporates option-pricing model inputs, and was $81.60 per share. Additionally, the actual number of performance-based RSUs earned may be adjusted upward or downward by 25% of the target award, based on VF's gross margin performance over the three-year period. Also during the nine months ended December 2020, VF granted 16,775 nonperformance-based RSUs to nonemployee members of the Board of Directors. These units vest upon grant and will be settled in shares of VF Common Stock one year from the date of grant. The fair market value of VF Common Stock at the date the units were granted was $55.74 per share. VF granted 30,500 nonperformance-based RSUs to certain key employees in international jurisdictions during the nine months ended December 2020. These units vest over periods of up to four years from the date of grant and each unit entitles the holder to one share of VF Common Stock. The weighted average fair market value of VF Common Stock at the dates the units were granted was $59.80 per share. In addition, VF granted 269,836 nonperformance-based RSUs to employees during the nine months ended December 2020. These awards vest 50% over a two-year period and 50% over a four-year period from the date of grant and each unit entitles the holder to one share of VF Common Stock. The weighted average fair market value of VF Common Stock at the dates the units were granted was $55.90 per share. VF granted 94,242 restricted shares of VF Common Stock to certain members of management during the nine months ended December 2020. These shares vest over periods of up to four years from the date of grant. The weighted average fair market value of VF Common Stock at the dates the shares were granted was $59.42 per share.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Dec. 26, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The effective income tax rate for the nine months ended December 2020 was 20.2% compared to 0.4% in the 2019 period. The nine months ended December 2020 included a net discrete tax expense of $3.7 million, which included a $15.2 million net tax expense related to unrecognized tax benefits and interest, a $2.3 million tax benefit related to stock compensation, a $4.9 million net tax benefit related to return to accrual adjustments and a $4.3 million net tax benefit related to withholding taxes on prior foreign earnings. Excluding the $3.7 million net discrete tax expense in the 2020 period, the effective income tax rate would have been 19.2%. The nine months ended December 2019 included a net discrete tax benefit of $169.4 million, which primarily related to the $164.4 million tax benefit recognized due to the enactment of Switzerland's Federal Act on Tax Reform and AHV Financing. Excluding the $169.4 million net discrete tax benefit in the 2019 period, the effective income tax rate would have been 15.6%. Without discrete items, the effective income tax rate for the nine months ended December 2020 increased by 3.6% compared with the 2019 period primarily due to losses generated in the current year. VF files a consolidated U.S. federal income tax return, as well as separate and combined income tax returns in numerous state and international jurisdictions. In the U.S., the Internal Revenue Service ("IRS") examinations for tax years through 2015 have been effectively settled. The examination of Timberland’s 2011 tax return is ongoing. In addition, VF is currently subject to examination by various state and international tax authorities. Management regularly assesses the potential outcomes of both ongoing and future examinations for the current and prior years and has concluded that VF’s provision for income taxes is adequate. The outcome of any one examination is not expected to have a material impact on VF’s consolidated financial statements. Management believes that some of these audits and negotiations will conclude during the next 12 months. VF was granted a ruling which lowered the effective income tax rate on taxable earnings for years 2010 through 2014 under Belgium’s excess profit tax regime. In February 2015, the European Union Commission (“EU”) opened a state aid investigation into Belgium’s rulings. On January 11, 2016, the EU announced its decision that these rulings were illegal and ordered that tax benefits granted under these rulings should be collected from the affected companies, including VF. On March 22, 2016, the Belgium government filed an appeal seeking annulment of the EU decision. Additionally, on June 21, 2016, VF Europe BVBA filed its own application for annulment of the EU decision. On December 22, 2016, Belgium adopted a law which entitled the Belgium tax authorities to issue tax assessments, and demand timely payments from companies which benefited from the excess profits regime. On January 10, 2017, VF Europe BVBA received an assessment for €31.9 million tax and interest related to excess profits benefits received in prior years. VF Europe BVBA remitted €31.9 million ($33.9 million) on January 13, 2017, which was recorded as an income tax receivable in 2017 based on the expected success of the aforementioned requests for annulment. An additional assessment of €3.1 million ($3.8 million) was received and paid in January 2018. On February 14, 2019, the General Court annulled the EU decision and on April 26, 2019, the EU appealed the General Court’s annulment. Both listed requests for annulment remain open and unresolved. Additionally, the EU has initiated proceedings related to individual rulings granted by Belgium, including the ruling granted to VF. If this matter is adversely resolved, these amounts will not be collected by VF. During the nine months ended December 2020, the amount of net unrecognized tax benefits and associated interest increased by $17.7 million to $182.9 million. Management believes that it is reasonably possible that the amount of unrecognized income tax benefits and interest may decrease during the next 12 months by approximately $31.1 million related to the completion of examinations and other settlements with tax authorities and the expiration of statutes of limitations, of which $12.7 million would reduce income tax expense.

REPORTABLE SEGMENT INFORMATION

REPORTABLE SEGMENT INFORMATION	9 Months Ended
	Dec. 26, 2020
Segment Reporting [Abstract]
REPORTABLE SEGMENT INFORMATION	REPORTABLE SEGMENT INFORMATION The chief operating decision maker allocates resources and assesses performance based on a global brand view which 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. We have included an Other category in the table below for purposes of reconciliation of revenues and profit, but it is not considered a reportable segment. Other includes results primarily related to the sale of non-VF products. Financial information for VF's reportable segments was as follows: Three Months Ended December Nine Months Ended December (In thousands) 2020 2019 2020 2019 Segment revenues: Outdoor $ 1,571,043 $ 1,659,108 $ 3,066,678 $ 3,795,665 Active 1,127,121 1,239,462 2,898,639 3,885,222 Work 270,182 251,063 686,163 674,826 Other 3,195 6,090 4,678 30,422 Total segment revenues $ 2,971,541 $ 3,155,723 $ 6,656,158 $ 8,386,135 Segment profit (loss): Outdoor $ 311,767 $ 348,995 $ 283,531 $ 525,107 Active 201,373 286,474 467,632 982,240 Work 16,900 22,111 13,672 52,129 Other (4,435) (2,800) (9,322) (2,035) Total segment profit 525,605 654,780 755,513 1,557,441 Corporate and other expenses (a) (107,122) (136,885) (297,434) (391,236) Interest expense, net (31,776) (17,337) (90,656) (49,306) Income from continuing operations before income taxes $ 386,707 $ 500,558 $ 367,423 $ 1,116,899 (a) Certain corporate overhead and other costs of $6.6 million and $18.9 million for the three and nine-month periods ended December 2019, respectively, previously allocated to the Work segment have been reallocated to continuing operations.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Dec. 26, 2020
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Three Months Ended December Nine Months Ended December (In thousands, except per share amounts) 2020 2019 2020 2019 Earnings per share – basic: Income from continuing operations $ 327,659 $ 421,582 $ 293,163 $ 1,112,232 Weighted average common shares outstanding 389,872 395,940 389,262 396,806 Earnings per share from continuing operations $ 0.84 $ 1.06 $ 0.75 $ 2.80 Earnings per share – diluted: Income from continuing operations $ 327,659 $ 421,582 $ 293,163 $ 1,112,232 Weighted average common shares outstanding 389,872 395,940 389,262 396,806 Incremental shares from stock options and other dilutive securities 2,979 4,382 2,345 4,693 Adjusted weighted average common shares outstanding 392,851 400,322 391,607 401,499 Earnings per share from continuing operations $ 0.83 $ 1.05 $ 0.75 $ 2.77 In addition, 0.8 million and 0.6 million shares of performance-based RSUs were excluded from the calculations of diluted earnings per share for the three and nine-month periods ended December 2020, respectively, and 0.8 million shares of performance-based RSUs were excluded from the calculations of diluted earnings per share for both the three and nine-month periods ended December 2019, because these units were not considered to be contingent outstanding shares in those periods.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Dec. 26, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Financial assets and financial liabilities measured and reported at fair value are classified in a three-level hierarchy that prioritizes the inputs used in the valuation process. A financial instrument’s categorization within the valuation hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The hierarchy is based on the observability and objectivity of the pricing inputs, as follows: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Significant directly observable data (other than Level 1 quoted prices) or significant indirectly observable data through corroboration with observable market data. Inputs would normally be (i) quoted prices in active markets for similar assets or liabilities, (ii) quoted prices in inactive markets for identical or similar assets or liabilities, or (iii) information derived from or corroborated by observable market data. • Level 3 — Prices or valuation techniques that require significant unobservable data inputs. These inputs would normally be VF’s own data and judgments about assumptions that market participants would use in pricing the asset or liability. The following table summarizes financial assets and financial liabilities that are measured and recorded in the consolidated financial statements at fair value on a recurring basis: Total Fair Value Fair Value Measurement Using (a) (In thousands) Level 1 Level 2 Level 3 December 2020 Financial assets: Cash equivalents: Money market funds $ 546,719 $ 546,719 $ — $ — Time deposits 17,408 17,408 — — Short-term investments 599,403 599,403 — — Derivative financial instruments 16,209 — 16,209 — Deferred compensation 135,710 135,710 — — Financial liabilities: Derivative financial instruments 97,835 — 97,835 — Deferred compensation 148,179 — 148,179 — Total Fair Value Fair Value Measurement Using (a) (In thousands) Level 1 Level 2 Level 3 March 2020 Financial assets: Cash equivalents: Money market funds $ 1,211,887 $ 1,211,887 $ — $ — Time deposits 1,932 1,932 — — Derivative financial instruments 91,834 — 91,834 — Deferred compensation 105,706 105,706 — — Financial liabilities: Derivative financial instruments 14,531 — 14,531 — Deferred compensation 113,289 — 113,289 — (a) There were no transfers among the levels within the fair value hierarchy during the nine months ended December 2020 or the year ended March 2020. fair value of the participants’ selection of hypothetical investments. All other financial assets and financial liabilities are recorded in the consolidated financial statements at cost, except life insurance contracts which are recorded at cash surrender value. These other financial assets and financial liabilities include cash held as demand deposits, accounts receivable, short-term borrowings, accounts payable and accrued liabilities. At December 2020 and March 2020, their carrying values approximated fair value. Additionally, at December 2020 and March 2020, the carrying values of VF’s long-term debt, including the current portion, were $5,787.6 million and $2,609.3 million, respectively, compared with fair values of $6,276.8 million and $2,672.9 million at those respective dates. Fair value for long-term debt is a Level 2 estimate based on quoted market prices or values of comparable borrowings.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES	9 Months Ended
	Dec. 26, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES Summary of Derivative Financial Instruments All of VF’s outstanding derivative financial instruments are foreign exchange forward contracts. Although derivatives meet the criteria for hedge accounting at the inception of the hedging relationship, a limited number of derivative contracts intended to hedge assets and liabilities are not designated as hedges for accounting purposes. The notional amounts of all outstanding derivative contracts were $2.5 billion at December 2020 , $2.6 billion at March 2020 and $2.8 billion at December 2019, consisting primarily of contracts hedging exposures to the euro, British pound, Canadian dollar, Swiss franc, South Korean won, Mexican peso, Swedish krona, Polish zloty, Japanese yen, and New Zealand dollar. Derivative contracts have maturities up to 20 months. The following table presents outstanding derivatives on an individual contract basis: Fair Value of Derivatives Fair Value of Derivatives (In thousands) December 2020 March 2020 December 2019 December 2020 March 2020 December 2019 Foreign currency exchange contracts designated as hedging instruments $ 12,457 $ 78,298 $ 46,573 $ (96,437) $ (12,682) $ (42,050) Foreign currency exchange contracts not designated as hedging instruments 3,752 13,536 5,070 (1,398) (1,849) (929) Total derivatives $ 16,209 $ 91,834 $ 51,643 $ (97,835) $ (14,531) $ (42,979) VF records and presents the fair values of all of its derivative assets and liabilities in the Consolidated Balance Sheets on a gross basis, even though they are subject to master netting agreements. If VF were to offset and record the asset and liability balances of its foreign exchange forward contracts on a net basis in accordance with the terms of its master netting agreements, the amounts presented in the Consolidated Balance Sheets would be adjusted from the current gross presentation to the net amounts as detailed in the following table: December 2020 March 2020 December 2019 (In thousands) Derivative Derivative Derivative Derivative Derivative Derivative Gross amounts presented in the Consolidated Balance Sheets $ 16,209 $ (97,835) $ 91,834 $ (14,531) $ 51,643 $ (42,979) Gross amounts not offset in the Consolidated Balance Sheets (16,209) 16,209 (14,393) 14,393 (27,958) 27,958 Net amounts $ — $ (81,626) $ 77,441 $ (138) $ 23,685 $ (15,021) Derivatives are classified as current or noncurrent based on maturity dates, as follows: (In thousands) December 2020 March 2020 December 2019 Other current assets $ 15,510 $ 71,784 $ 49,650 Accrued liabilities (77,317) (11,378) (34,710) Other assets 699 20,050 1,993 Other liabilities (20,518) (3,153) (8,269) Cash Flow Hedges VF uses derivative contracts primarily to hedge a portion of the exchange risk for its forecasted sales, purchases, production costs, operating costs and intercompany royalties. The effects of cash flow hedging included in VF’s Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income are summarized as follows: (In thousands) Gain (Loss) on Derivatives Recognized in OCI Three Months Ended December Gain (Loss) on Derivatives Recognized in OCI Nine Months Ended December Cash Flow Hedging Relationships 2020 2019 2020 2019 Foreign currency exchange $ (82,491) $ (56,699) $ (129,817) $ 9,471 (In thousands) Gain (Loss) Reclassified from Accumulated OCI into Income Three Months Ended December Gain (Loss) Reclassified from Accumulated OCI into Income Nine Months Ended December Location of Gain (Loss) 2020 2019 2020 2019 Net revenues $ 4,048 $ (5,507) $ 6,354 $ (11,226) Cost of goods sold 224 27,157 25,372 60,989 Selling, general and administrative expenses 586 1,231 2,934 3,329 Other income (expense), net (613) 1,006 1,190 7,574 Interest expense 26 (1,324) 80 (3,920) Total $ 4,271 $ 22,563 $ 35,930 $ 56,746 Derivative Contracts Not Designated as Hedges VF uses derivative contracts to manage foreign currency exchange risk on third-party accounts receivable and payable, as well as intercompany borrowings. These contracts are not designated as hedges, and are recorded at fair value in the Consolidated Balance Sheets. Changes in the fair values of these instruments are recognized directly in earnings. Gains or losses on these contracts largely offset the net transaction losses or gains on the related assets and liabilities. In the case of derivative contracts executed on foreign currency exposures that are no longer probable of occurring, VF de-designates these hedges and the fair value changes of these instruments are also recognized directly in earnings. Certain derivative contracts were de-designated as the hedged forecasted transactions were no longer deemed probable of occurring primarily as a result of the COVID-19 pandemic and other actions taken by the Company. Accordingly, the Company reclassified amounts from accumulated OCI and recognized a $0.6 million and $4.3 million net gain during the three and nine months ended December 2020, respectively, which were primarily recorded in net revenues and cost of goods sold. The changes in fair value of derivative contracts not designated as hedges that have been recognized as gains or losses in VF's Consolidated Statements of Operations were not material for the three and nine months ended December 2020 and December 2019. Other Derivative Information At December 2020, accumulated OCI included $55.3 million of pre-tax net deferred losses for foreign currency exchange contracts that are expected to be reclassified to earnings during the next 12 months. The amounts ultimately reclassified to earnings will depend on exchange rates in effect when outstanding derivative contracts are settled. Net Investment Hedge The Company has designated its €1.850 billion of euro-denominated fixed-rate notes as a net investment hedge of VF’s investment in certain foreign operations. Because this debt qualified as a nonderivative hedging instrument, foreign currency transaction gains or losses of the debt are deferred in the foreign currency translation and other component of accumulated OCI as an offset to the foreign currency translation adjustments on the hedged investments. During the three and nine-month periods ended December 2020, the Company recognized an after-tax loss of $79.2 million and $150.8 million, respectively, in OCI related to the net investment hedge transaction, and an after-tax loss of $15.3 million and an after-tax gain of $2.3 million for the three and nine-month periods ended December 2019, respectively. Any amounts deferred in accumulated OCI will remain until the hedged investment is sold or substantially liquidated.

RESTRUCTURING

RESTRUCTURING	9 Months Ended
	Dec. 26, 2020
Restructuring and Related Activities [Abstract]
RESTRUCTURING	RESTRUCTURING The Company typically incurs restructuring charges related to strategic initiatives and cost optimization of business activities, primarily related to severance and employee-related benefits. During the three and nine months ended December 2020, VF recognized $38.2 million and $84.0 million of restructuring charges, respectively, related to approved initiatives. Of the restructuring charges recognized in the three and nine months ended December 2020, $15.7 million and $44.4 million were reflected in selling, general and administrative expenses, respectively, and $22.5 million and $39.6 million in cost of goods sold, respectively. The Company has not recognized any significant incremental costs related to accruals for the year ended March 2020 or prior periods. Of the $60.0 million total restructuring accrual at December 2020, $54.8 million is expected to be paid out within the next 12 months and is classified within accrued liabilities. The remaining $5.2 million will be paid out beyond the next 12 months and thus is classified within other liabilities. The components of the restructuring charges are as follows: Three Months Ended December Nine Months Ended December (In thousands) 2020 2019 2020 2019 Severance and employee-related benefits $ 24,545 $ 3,859 $ 52,937 $ 7,116 Asset impairments — — 10,557 — Accelerated depreciation 3,429 — 10,093 — Inventory write-downs 7,115 — 7,115 — Contract termination and other 3,107 — 3,324 2,121 Total restructuring charges $ 38,196 $ 3,859 $ 84,026 $ 9,237 Restructuring costs by business segment are as follows: Three Months Ended December Nine Months Ended December (In thousands) 2020 2019 2020 2019 Outdoor $ 2,676 $ 1,670 $ 9,271 $ 6,400 Active 3,275 322 3,938 789 Work 8,409 1,460 27,216 1,641 Corporate and other 23,836 407 43,601 407 Total $ 38,196 $ 3,859 $ 84,026 $ 9,237 The activity in the restructuring accrual for the nine-month period ended December 2020 was as follows: (In thousands) Severance Other Total Accrual at March 2020 $ 38,052 $ 2,888 $ 40,940 Charges 52,937 3,693 56,630 Cash payments (35,393) (2,392) (37,785) Adjustments to accruals (166) 189 23 Impact of foreign currency 15 170 185 Accrual at December 2020 $ 55,445 $ 4,548 $ 59,993

CONTINCENCIES

CONTINCENCIES	9 Months Ended
	Dec. 26, 2020
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES The Company petitioned the U.S. Tax Court to resolve an IRS dispute regarding the timing of income inclusion associated with the 2011 Timberland acquisition. The Company remains confident in our timing and treatment of the income inclusion, and therefore this matter is not reflected in our consolidated financial statements. We are vigorously defending our position, and do not expect the resolution to have a material adverse impact on the Company's financial position, results of operations or cash flows. While the IRS argues immediate income inclusion, the Company's position is to include the income over a period of years. As the matter relates to 2011, nearly half of the timing at dispute has passed with the Company including the income, and paying the related tax, on our income tax returns. The Company notes that should the IRS prevail in this timing matter, the net interest expense would be up to $175 million. Further, this timing matter is impacted by the Tax Cuts and Jobs Act that reduced the U.S. corporate income tax rate from 35% to 21%. If the IRS is successful, this rate differential would increase tax expense by approximately $136 million. The Company is currently involved in other legal proceedings that are ordinary, routine litigation incidental to the business. The resolution of any particular proceeding is not currently expected to have a material adverse impact on the Company's financial position, results of operations or cash flows.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Dec. 26, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On December 28, 2020, in VF's fourth quarter of Fiscal 2021, VF completed the acquisition of Supreme for an aggregate base purchase price of $2.1 billion in cash, subject to working capital and other adjustments. Refer to Note 4 for additional information.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	9 Months Ended
	Dec. 26, 2020
Accounting Policies [Abstract]
Basis of Presentation	VF Corporation (together with its subsidiaries, collectively known as “VF” or the “Company”) uses a 52/53 week fiscal year ending on the Saturday closest to March 31 of each year. The Company's current fiscal year runs from March 29, 2020 through April 3, 2021 ("Fiscal 2021"). Accordingly, this Form 10-Q presents our third quarter of Fiscal 2021. For presentation purposes herein, all references to periods ended December 2020 and December 2019 relate to the fiscal periods ended on December 26, 2020 and December 28, 2019, respectively. References to March 2020 relate to information as of March 28, 2020. On January 21, 2020, VF announced its decision to explore the divestiture of its Occupational Workwear business. The Occupational Workwear business is comprised primarily of the following brands and businesses: Red Kap ® , VF Solutions ® , Bulwark ® , Workrite ® , Walls ® , Terra ® , Kodiak ® , Work Authority ® and Horace Small ® . The business also includes certain Dickies ® occupational workwear products that have historically been sold through the business-to-business channel. During the three months ended March 2020, the Company determined that the Occupational Workwear business met the held-for-sale and discontinued operations accounting criteria. Accordingly, the Company has reported the results of the Occupational Workwear business and the related cash flows as discontinued operations in the Consolidated Statements of Operations and Consolidated Statements of Cash Flows, respectively. The related held-for-sale assets and liabilities have been reported as assets and liabilities of discontinued operations in the Consolidated Balance Sheets. These changes have been applied to all periods presented. On May 22, 2019, VF completed the spin-off of its Jeans business, which included the Wrangler ® , Lee ® and Rock & Republic ® brands, as well as the VF Outlet TM business, into an independent, publicly traded company. As a result, VF reported the results for the Jeans business and the related cash flows as discontinued operations in the Consolidated Statements of Operations and Consolidated Statements of Cash Flows, respectively. These changes have been applied to all periods presented. Certain prior year amounts have been reclassified to conform to the Fiscal 2021 presentation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X and do not include all of the information and notes required by generally accepted accounting principles in the United States of America (“GAAP”) for complete financial statements. Similarly, the March 2020 condensed consolidated balance sheet was derived from audited financial statements but does not include all disclosures required by GAAP. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all normal and recurring adjustments necessary to fairly state the consolidated financial position, results of operations and cash flows of VF for the interim periods presented. Operating results for the three and nine months ended December 2020 are not necessarily indicative of results that may be expected for any other interim period or for Fiscal 2021. For further information, refer to the consolidated financial statements and notes included in VF’s Annual Report on Form 10-K for the year ended March 28, 2020 (“Fiscal 2020 Form 10-K”). In preparing the condensed consolidated financial statements, management makes estimates and assumptions that affect amounts reported in the condensed consolidated financial statements and accompanying notes. The duration and severity of the novel coronavirus ("COVID-19") pandemic, which is subject to uncertainty, is having a significant impact on VF's business. Management's estimates and assumptions have contemplated both current and expected impacts related to COVID-19 based on available information. Actual results may differ from those estimates.
Recently Adopted Accounting Standards and Recently Issued Accounting Standards	Recently Adopted Accounting Standards In June 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-13, " Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ", which requires entities to use a forward-looking approach based on expected losses to estimate credit losses on certain types of financial instruments, including trade receivables. The FASB has subsequently issued updates to the standard to provide additional clarification on specific topics. The guidance became effective for VF in the first quarter of Fiscal 2021, but did not have a material impact on VF's consolidated financial statements. As a result of the adoption of this guidance, the following significant accounting policy from the Company’s Fiscal 2020 Form 10-K has been updated: Accounts Receivable Trade accounts receivable are recorded at invoiced amounts, less contractual allowances for trade terms, sales incentive programs and discounts. Royalty receivables are recorded at amounts earned based on the licensees' sales of licensed products, subject in some cases to contractual minimum royalties due from individual licensees. VF maintains an allowance for doubtful accounts for estimated losses that will result from the inability of customers and licensees to make required payments. The allowance is determined based on review of specific customer accounts where collection is doubtful, as well as an assessment of the collectability of total receivables, which are grouped based on similar risk characteristics, considering historical trends, adjusted for current economic conditions and reasonable and supportable forecasts when appropriate. The allowance represents the current estimate of lifetime expected credit losses for all outstanding accounts receivable and reflects the Company's ongoing evaluation of collectability, customer creditworthiness, historical levels of credit losses and future expectations. Receivables are written off against the allowance when it is determined that the amounts will not be recovered. In August 2018, the FASB issued ASU No. 2018-13, "Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement" , an update that modifies the disclosure requirements for fair value measurements by removing, modifying or adding certain disclosures. The guidance became effective for VF in the first quarter of Fiscal 2021, but did not have a material impact on VF's disclosures. In August 2018, the FASB issued ASU No. 2018-15, "Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract" , an update that aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The guidance became effective for VF in the first quarter of Fiscal 2021, but did not have a material impact on VF's consolidated financial statements. Recently Issued Accounting Standards In August 2018, the FASB issued ASU No. 2018-14, "Compensation—Retirement Benefits—Defined Benefit Plans—General (Subtopic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans" , an update that modifies the annual disclosure requirements for employers who sponsor defined benefit pension or other postretirement plans. The guidance is effective for VF in Fiscal 2021, but the Company does not expect the adoption of this guidance to have a material impact on VF's annual disclosures. In December 2019, the FASB issued ASU No. 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes" , an update that amends and simplifies the accounting for income taxes by removing certain exceptions in existing guidance and providing new guidance to reduce complexity in certain areas. The guidance will be effective for VF in the first quarter of the year ending April 2, 2022 ("Fiscal 2022") with early adoption permitted. The Company does not expect the adoption of this guidance to have a material impact on VF's consolidated financial statements. In March 2020, the FASB issued ASU No. 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting" , an update that provides optional expedients and exceptions for applying GAAP to contracts, hedging relationships and other transactions affected by reference rate reform if certain criteria are met. The optional guidance is provided to ease the potential burden of accounting for reference rate reform. The guidance is effective and can be adopted no later than December 31, 2022. The Company is evaluating the impact that adopting this guidance would have on VF's consolidated financial statements.
Fair Value Measurement	Financial assets and financial liabilities measured and reported at fair value are classified in a three-level hierarchy that prioritizes the inputs used in the valuation process. A financial instrument’s categorization within the valuation hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The hierarchy is based on the observability and objectivity of the pricing inputs, as follows: • Level 1 — Quoted prices in active markets for identical assets or liabilities. • Level 2 — Significant directly observable data (other than Level 1 quoted prices) or significant indirectly observable data through corroboration with observable market data. Inputs would normally be (i) quoted prices in active markets for similar assets or liabilities, (ii) quoted prices in inactive markets for identical or similar assets or liabilities, or (iii) information derived from or corroborated by observable market data. • Level 3 — Prices or valuation techniques that require significant unobservable data inputs. These inputs would normally be VF’s own data and judgments about assumptions that market participants would use in pricing the asset or liability.

REVENUES (Tables)

REVENUES (Tables)	9 Months Ended
	Dec. 26, 2020
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset and Liability	The following table provides information about accounts receivable, contract assets and contract liabilities: (In thousands) December 2020 March 2020 December 2019 Accounts receivable, net $ 1,411,565 $ 1,308,051 $ 1,539,923 Contract assets (a) 1,512 1,181 1,789 Contract liabilities (b) 55,995 37,498 54,260 (a) Included in the other current assets line item in the Consolidated Balance Sheets. (b) Included in the accrued liabilities line item in the Consolidated Balance Sheets.
Disaggregation of Revenue	The following tables disaggregate our revenues by channel and geography, which provides a meaningful depiction of how the nature, timing and uncertainty of revenues were affected by economic factors. The wholesale channel includes fees generated from sourcing activities as the customers and point-in-time revenue recognition are similar to other wholesale arrangements. Three Months Ended December 2020 (In thousands) Outdoor Active Work Other Total Channel revenues Wholesale $ 763,743 $ 465,857 $ 200,872 $ 3,106 $ 1,433,578 Direct-to-consumer 804,711 655,922 63,470 89 1,524,192 Royalty 2,589 5,342 5,840 — 13,771 Total $ 1,571,043 $ 1,127,121 $ 270,182 $ 3,195 $ 2,971,541 Geographic revenues United States $ 776,674 $ 620,261 $ 170,760 $ — $ 1,567,695 International 794,369 506,860 99,422 3,195 1,403,846 Total $ 1,571,043 $ 1,127,121 $ 270,182 $ 3,195 $ 2,971,541 Three Months Ended December 2019 (In thousands) Outdoor Active Work Other Total Channel revenues Wholesale $ 857,939 $ 527,206 $ 196,342 $ 4,750 $ 1,586,237 Direct-to-consumer 796,632 706,186 46,384 1,340 1,550,542 Royalty 4,537 6,070 8,337 — 18,944 Total $ 1,659,108 $ 1,239,462 $ 251,063 $ 6,090 $ 3,155,723 Geographic revenues United States $ 903,184 $ 686,733 $ 162,411 $ — $ 1,752,328 International 755,924 552,729 88,652 6,090 1,403,395 Total $ 1,659,108 $ 1,239,462 $ 251,063 $ 6,090 $ 3,155,723 Nine Months Ended December 2020 (In thousands) Outdoor Active Work Other Total Channel revenues Wholesale $ 1,746,203 $ 1,371,889 $ 527,378 $ 4,381 $ 3,649,851 Direct-to-consumer 1,314,386 1,510,354 144,113 297 2,969,150 Royalty 6,089 16,396 14,672 — 37,157 Total $ 3,066,678 $ 2,898,639 $ 686,163 $ 4,678 $ 6,656,158 Geographic revenues United States $ 1,451,827 $ 1,472,145 $ 446,850 $ — $ 3,370,822 International 1,614,851 1,426,494 239,313 4,678 3,285,336 Total $ 3,066,678 $ 2,898,639 $ 686,163 $ 4,678 $ 6,656,158 Nine Months Ended December 2019 (In thousands) Outdoor Active Work Other Total Channel revenues Wholesale $ 2,375,117 $ 1,897,118 $ 547,104 $ 22,730 $ 4,842,069 Direct-to-consumer 1,410,658 1,969,700 110,356 7,692 3,498,406 Royalty 9,890 18,404 17,366 — 45,660 Total $ 3,795,665 $ 3,885,222 $ 674,826 $ 30,422 $ 8,386,135 Geographic revenues United States $ 1,943,491 $ 2,109,479 $ 454,565 $ — $ 4,507,535 International 1,852,174 1,775,743 220,261 30,422 3,878,600 Total $ 3,795,665 $ 3,885,222 $ 674,826 $ 30,422 $ 8,386,135

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	9 Months Ended
	Dec. 26, 2020
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Discontinued Operations Presented in Financial Statements	The following table summarizes the major line items for the Occupational Workwear business and the Jeans business that are included in the income from discontinued operations, net of tax line item in the Consolidated Statements of Operations: Three Months Ended December Nine Months Ended December (In thousands) 2020 2019 2020 2019 Net revenues $ 176,464 $ 229,023 $ 464,107 $ 998,561 Cost of goods sold 115,801 148,810 330,418 632,754 Selling, general and administrative expenses 35,576 41,450 103,743 279,933 Interest income, net 68 523 541 1,115 Other income (expense), net 22 (8) 101 (672) Income from discontinued operations before income taxes 25,177 39,278 30,588 86,317 Income tax expense (benefit) (a) 5,596 (4,143) 5,402 35,324 Income from discontinued operations, net of tax $ 19,581 $ 43,421 $ 25,186 $ 50,993 (a) Income tax benefit for the three months ended December 2019 reflects a return to accrual adjustment to the previously recorded tax expense related to the Jeans business. Income tax expense for the nine months ended December 2019 includes additional tax expense on nondeductible transaction costs and uncertain tax positions related to the Jeans business. The following table summarizes the carrying amounts of major classes of assets and liabilities of discontinued operations for each of the periods presented: (In thousands) December 2020 March 2020 December 2019 Cash and equivalents $ 18,771 $ 39,752 $ 43,922 Accounts receivable, net 91,554 83,650 101,835 Inventories 242,204 294,000 310,510 Other current assets 12,802 6,701 8,137 Property, plant and equipment, net 48,605 44,863 41,566 Intangible assets, net 54,472 54,471 60,443 Goodwill 43,530 43,530 49,630 Operating lease right-of-use assets 42,930 38,941 39,565 Other assets 5,780 5,231 5,098 Total assets of discontinued operations $ 560,648 $ 611,139 $ 660,706 Accounts payable $ 50,434 $ 63,380 $ 67,244 Accrued liabilities 34,470 29,699 33,812 Operating lease liabilities 33,073 35,867 38,310 Other liabilities 6,303 2,270 2,651 Deferred income tax liabilities (a) (4,095) (4,435) (10,247) Total liabilities of discontinued operations $ 120,185 $ 126,781 $ 131,770

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Dec. 26, 2020
Inventory Disclosure [Abstract]
Inventories	(In thousands) December 2020 March 2020 December 2019 Finished products $ 1,008,796 $ 1,201,562 $ 1,164,967 Work-in-process 55,352 67,603 66,124 Raw materials 11,835 24,747 23,369 Total inventories $ 1,075,983 $ 1,293,912 $ 1,254,460

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	9 Months Ended
	Dec. 26, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Finite Lived Intangible Assets	December 2020 March 2020 (In thousands) Weighted Amortization Cost Accumulated Net Net Amortizable intangible assets: Customer relationships 19 years Accelerated $ 271,910 $ 149,553 $ 122,357 $ 137,017 License agreements 19 years Accelerated 8,095 5,478 2,617 2,548 Other 8 years Straight-line 8,796 6,440 2,356 2,909 Amortizable intangible assets, net 127,330 142,474 Indefinite-lived intangible assets: Trademarks and trade names 1,734,712 1,712,071 Intangible assets, net $ 1,862,042 $ 1,854,545
Indefinite Lived Intangible Assets	December 2020 March 2020 (In thousands) Weighted Amortization Cost Accumulated Net Net Amortizable intangible assets: Customer relationships 19 years Accelerated $ 271,910 $ 149,553 $ 122,357 $ 137,017 License agreements 19 years Accelerated 8,095 5,478 2,617 2,548 Other 8 years Straight-line 8,796 6,440 2,356 2,909 Amortizable intangible assets, net 127,330 142,474 Indefinite-lived intangible assets: Trademarks and trade names 1,734,712 1,712,071 Intangible assets, net $ 1,862,042 $ 1,854,545

GOODWILL (Tables)

GOODWILL (Tables)	9 Months Ended
	Dec. 26, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Goodwill	Changes in goodwill are summarized by reportable segment as follows: (In thousands) Outdoor Active Work Total Balance, March 2020 $ 653,433 $ 389,848 $ 112,738 $ 1,156,019 Currency translation 14,772 21,618 1,803 38,193 Balance, December 2020 $ 668,205 $ 411,466 $ 114,541 $ 1,194,212

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Dec. 26, 2020
Leases [Abstract]
Components of Lease Expense	Total lease cost includes operating lease cost, variable lease cost, finance lease cost, short-term lease cost, impairment and gain recognized from sale-leaseback transactions. Components of lease cost were as follows: Three Months Ended December Nine Months Ended December (In thousands) 2020 2019 2020 2019 Operating lease cost $ 110,970 $ 103,339 $ 326,501 $ 309,950 Other lease costs 19,336 36,165 53,906 85,271 Total lease cost $ 130,306 $ 139,504 $ 380,407 $ 395,221

SHORT-TERM BORROWINGS AND LON_2

SHORT-TERM BORROWINGS AND LONG-TERM DEBT (Tables)	9 Months Ended
	Dec. 26, 2020
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	In April 2020, VF issued senior unsecured notes, as outlined in the table below: (Dollars in thousands) Scheduled Maturity Aggregate Principal Effective Annual Interest Rate Interest Payments 2.050% notes, due 2022 $ 1,000,000 2.277 % Semiannually 2.400% notes, due 2025 750,000 2.603 % Semiannually 2.800% notes, due 2027 500,000 2.953 % Semiannually 2.950% notes, due 2030 750,000 3.071 % Semiannually Total Issuance $ 3,000,000

PENSION PLANS (Tables)

PENSION PLANS (Tables)	9 Months Ended
	Dec. 26, 2020
Retirement Benefits [Abstract]
Components of Pension Cost	The components of pension cost (income) for VF’s defined benefit plans were as follows: Three Months Ended December Nine Months Ended December (In thousands) 2020 2019 2020 2019 Service cost – benefits earned during the period $ 3,837 $ 3,401 $ 11,252 $ 10,192 Interest cost on projected benefit obligations 11,764 14,581 35,693 44,085 Expected return on plan assets (20,586) (23,176) (61,696) (69,505) Settlement charges 544 24,943 1,116 25,462 Amortization of deferred amounts: Net deferred actuarial losses 3,020 4,203 8,781 12,236 Deferred prior service costs (credits) (19) 13 (53) 38 Net periodic pension cost (income) $ (1,440) $ 23,965 $ (4,907) $ 22,508 The amounts reported in these disclosures have not been segregated between continuing and discontinued operations.

CAPITAL AND ACCUMULATED OTHER_2

CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	9 Months Ended
	Dec. 26, 2020
Equity [Abstract]
Deferred Components of OCI Reported, Net of Related Income Taxes, in Accumulated OCI in Stockholders' Equity and Changes in Accumulated OCI	The deferred components of OCI are reported, net of related income taxes, in accumulated OCI in stockholders’ equity, as follows: (In thousands) December 2020 March 2020 December 2019 Foreign currency translation and other $ (663,863) $ (737,709) $ (663,319) Defined benefit pension plans (264,966) (262,472) (249,530) Derivative financial instruments (67,134) 69,223 17,477 Accumulated other comprehensive income (loss) $ (995,963) $ (930,958) $ (895,372) The changes in accumulated OCI, net of related taxes, were as follows: Three Months Ended December 2020 (In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total Balance, September 2020 $ (700,137) $ (264,304) $ 4,783 $ (959,658) Other comprehensive income (loss) before reclassifications 36,274 (3,541) (68,373) (35,640) Amounts reclassified from accumulated other comprehensive income (loss) — 2,879 (3,544) (665) Net other comprehensive income (loss) 36,274 (662) (71,917) (36,305) Balance, December 2020 $ (663,863) $ (264,966) $ (67,134) $ (995,963) Three Months Ended December 2019 (In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total Balance, September 2019 $ (715,286) $ (298,326) $ 82,887 $ (930,725) Other comprehensive income (loss) before reclassifications 51,967 26,827 (46,536) 32,258 Amounts reclassified from accumulated other comprehensive income (loss) — 21,969 (18,874) 3,095 Net other comprehensive income (loss) 51,967 48,796 (65,410) 35,353 Balance, December 2019 $ (663,319) $ (249,530) $ 17,477 $ (895,372) Nine Months Ended December 2020 (In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total Balance, March 2020 $ (737,709) $ (262,472) $ 69,223 $ (930,958) Other comprehensive income (loss) before reclassifications 31,482 (10,183) (106,972) (85,673) Amounts reclassified from accumulated other comprehensive income (loss) 42,364 7,689 (29,385) 20,668 Net other comprehensive income (loss) 73,846 (2,494) (136,357) (65,005) Balance, December 2020 $ (663,863) $ (264,966) $ (67,134) $ (995,963) Nine Months Ended December 2019 (In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total Balance, March 2019 $ (725,679) $ (243,184) $ 66,788 $ (902,075) Adoption of new accounting standard, ASU 2018-02 (9,088) (50,402) (2,371) (61,861) Other comprehensive income (loss) before reclassifications (11,646) 15,108 8,712 12,174 Amounts reclassified from accumulated other comprehensive income (loss) — 28,154 (47,057) (18,903) Spin-off of Jeans Business 83,094 794 (8,595) 75,293 Net other comprehensive income (loss) 62,360 (6,346) (49,311) 6,703 Balance, December 2019 $ (663,319) $ (249,530) $ 17,477 $ (895,372)
Reclassifications Out of Accumulated OCI	Reclassifications out of accumulated OCI were as follows: (In thousands) Three Months Ended December Nine Months Ended December Details About Accumulated Other Comprehensive Income (Loss) Components Affected Line Item in the Consolidated Statements of Operations 2020 2019 2020 2019 Losses on foreign currency translation and other: Liquidation of foreign entities Other income (expense), net $ — $ — $ (42,364) $ — Total before tax — — (42,364) — Tax (expense) benefit — — — — Net of tax — — (42,364) — Amortization of defined benefit pension plans: Net deferred actuarial losses Other income (expense), net (3,020) (4,203) (8,781) (12,236) Deferred prior service (costs) credits Other income (expense), net 19 (13) 53 (38) Pension settlement charges Other income (expense), net (544) (24,943) (1,116) (25,462) Total before tax (3,545) (29,159) (9,844) (37,736) Tax benefit 666 7,190 2,155 9,582 Net of tax (2,879) (21,969) (7,689) (28,154) Gains (losses) on derivative financial instruments: Foreign exchange contracts Net revenues 4,048 (5,507) 6,354 (11,226) Foreign exchange contracts Cost of goods sold 224 27,157 25,372 60,989 Foreign exchange contracts Selling, general and administrative expenses 586 1,231 2,934 3,329 Foreign exchange contracts Other income (expense), net (613) 1,006 1,190 7,574 Interest rate contracts Interest expense 26 (1,324) 80 (3,920) Total before tax 4,271 22,563 35,930 56,746 Tax expense (727) (3,689) (6,545) (9,689) Net of tax 3,544 18,874 29,385 47,057 Total reclassifications for the period, net of tax $ 665 $ (3,095) $ (20,668) $ 18,903

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Dec. 26, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Assumption Used and Resulting Weighted Average Fair Value of Stock Option Granted	The grant date fair value of each option award was calculated using a lattice option-pricing valuation model, which incorporated a range of assumptions for inputs as follows: Nine Months Ended December 2020 Expected volatility 28% to 48% Weighted average expected volatility 37% Expected term (in years) 6.2 to 8.0 Weighted average dividend yield 2.4% Risk-free interest rate 0.1% to 0.8% Weighted average fair value at date of grant $15.79

REPORTABLE SEGMENT INFORMATION

REPORTABLE SEGMENT INFORMATION (Tables)	9 Months Ended
	Dec. 26, 2020
Segment Reporting [Abstract]
Financial Information for Reportable Segments	Financial information for VF's reportable segments was as follows: Three Months Ended December Nine Months Ended December (In thousands) 2020 2019 2020 2019 Segment revenues: Outdoor $ 1,571,043 $ 1,659,108 $ 3,066,678 $ 3,795,665 Active 1,127,121 1,239,462 2,898,639 3,885,222 Work 270,182 251,063 686,163 674,826 Other 3,195 6,090 4,678 30,422 Total segment revenues $ 2,971,541 $ 3,155,723 $ 6,656,158 $ 8,386,135 Segment profit (loss): Outdoor $ 311,767 $ 348,995 $ 283,531 $ 525,107 Active 201,373 286,474 467,632 982,240 Work 16,900 22,111 13,672 52,129 Other (4,435) (2,800) (9,322) (2,035) Total segment profit 525,605 654,780 755,513 1,557,441 Corporate and other expenses (a) (107,122) (136,885) (297,434) (391,236) Interest expense, net (31,776) (17,337) (90,656) (49,306) Income from continuing operations before income taxes $ 386,707 $ 500,558 $ 367,423 $ 1,116,899 (a) Certain corporate overhead and other costs of $6.6 million and $18.9 million for the three and nine-month periods ended December 2019, respectively, previously allocated to the Work segment have been reallocated to continuing operations.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Dec. 26, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Basic and Diluted	Three Months Ended December Nine Months Ended December (In thousands, except per share amounts) 2020 2019 2020 2019 Earnings per share – basic: Income from continuing operations $ 327,659 $ 421,582 $ 293,163 $ 1,112,232 Weighted average common shares outstanding 389,872 395,940 389,262 396,806 Earnings per share from continuing operations $ 0.84 $ 1.06 $ 0.75 $ 2.80 Earnings per share – diluted: Income from continuing operations $ 327,659 $ 421,582 $ 293,163 $ 1,112,232 Weighted average common shares outstanding 389,872 395,940 389,262 396,806 Incremental shares from stock options and other dilutive securities 2,979 4,382 2,345 4,693 Adjusted weighted average common shares outstanding 392,851 400,322 391,607 401,499 Earnings per share from continuing operations $ 0.83 $ 1.05 $ 0.75 $ 2.77

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Dec. 26, 2020
Fair Value Disclosures [Abstract]
Classes of Financial Assets and Financial Liabilities Measured and Recorded at Fair Value on Recurring Basis	The following table summarizes financial assets and financial liabilities that are measured and recorded in the consolidated financial statements at fair value on a recurring basis: Total Fair Value Fair Value Measurement Using (a) (In thousands) Level 1 Level 2 Level 3 December 2020 Financial assets: Cash equivalents: Money market funds $ 546,719 $ 546,719 $ — $ — Time deposits 17,408 17,408 — — Short-term investments 599,403 599,403 — — Derivative financial instruments 16,209 — 16,209 — Deferred compensation 135,710 135,710 — — Financial liabilities: Derivative financial instruments 97,835 — 97,835 — Deferred compensation 148,179 — 148,179 — Total Fair Value Fair Value Measurement Using (a) (In thousands) Level 1 Level 2 Level 3 March 2020 Financial assets: Cash equivalents: Money market funds $ 1,211,887 $ 1,211,887 $ — $ — Time deposits 1,932 1,932 — — Derivative financial instruments 91,834 — 91,834 — Deferred compensation 105,706 105,706 — — Financial liabilities: Derivative financial instruments 14,531 — 14,531 — Deferred compensation 113,289 — 113,289 — (a) There were no transfers among the levels within the fair value hierarchy during the nine months ended December 2020 or the year ended March 2020.

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	9 Months Ended
	Dec. 26, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Outstanding Derivatives on Individual Contract Basis	The following table presents outstanding derivatives on an individual contract basis: Fair Value of Derivatives Fair Value of Derivatives (In thousands) December 2020 March 2020 December 2019 December 2020 March 2020 December 2019 Foreign currency exchange contracts designated as hedging instruments $ 12,457 $ 78,298 $ 46,573 $ (96,437) $ (12,682) $ (42,050) Foreign currency exchange contracts not designated as hedging instruments 3,752 13,536 5,070 (1,398) (1,849) (929) Total derivatives $ 16,209 $ 91,834 $ 51,643 $ (97,835) $ (14,531) $ (42,979)
Derivative Assets and Liabilities Presented in Consolidated Balance Sheet Adjusted from Current Gross	VF records and presents the fair values of all of its derivative assets and liabilities in the Consolidated Balance Sheets on a gross basis, even though they are subject to master netting agreements. If VF were to offset and record the asset and liability balances of its foreign exchange forward contracts on a net basis in accordance with the terms of its master netting agreements, the amounts presented in the Consolidated Balance Sheets would be adjusted from the current gross presentation to the net amounts as detailed in the following table: December 2020 March 2020 December 2019 (In thousands) Derivative Derivative Derivative Derivative Derivative Derivative Gross amounts presented in the Consolidated Balance Sheets $ 16,209 $ (97,835) $ 91,834 $ (14,531) $ 51,643 $ (42,979) Gross amounts not offset in the Consolidated Balance Sheets (16,209) 16,209 (14,393) 14,393 (27,958) 27,958 Net amounts $ — $ (81,626) $ 77,441 $ (138) $ 23,685 $ (15,021)
Derivative Assets and Liabilities Presented in Consolidated Balance Sheet Adjusted from Current Gross	VF records and presents the fair values of all of its derivative assets and liabilities in the Consolidated Balance Sheets on a gross basis, even though they are subject to master netting agreements. If VF were to offset and record the asset and liability balances of its foreign exchange forward contracts on a net basis in accordance with the terms of its master netting agreements, the amounts presented in the Consolidated Balance Sheets would be adjusted from the current gross presentation to the net amounts as detailed in the following table: December 2020 March 2020 December 2019 (In thousands) Derivative Derivative Derivative Derivative Derivative Derivative Gross amounts presented in the Consolidated Balance Sheets $ 16,209 $ (97,835) $ 91,834 $ (14,531) $ 51,643 $ (42,979) Gross amounts not offset in the Consolidated Balance Sheets (16,209) 16,209 (14,393) 14,393 (27,958) 27,958 Net amounts $ — $ (81,626) $ 77,441 $ (138) $ 23,685 $ (15,021)
Derivatives Classified as Current or Noncurrent Based on Maturity Dates	Derivatives are classified as current or noncurrent based on maturity dates, as follows: (In thousands) December 2020 March 2020 December 2019 Other current assets $ 15,510 $ 71,784 $ 49,650 Accrued liabilities (77,317) (11,378) (34,710) Other assets 699 20,050 1,993 Other liabilities (20,518) (3,153) (8,269)
Effects of Cash Flow Hedging included in Consolidated Statements of Income and Consolidated Statements of Comprehensive Income	The effects of cash flow hedging included in VF’s Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income are summarized as follows: (In thousands) Gain (Loss) on Derivatives Recognized in OCI Three Months Ended December Gain (Loss) on Derivatives Recognized in OCI Nine Months Ended December Cash Flow Hedging Relationships 2020 2019 2020 2019 Foreign currency exchange $ (82,491) $ (56,699) $ (129,817) $ 9,471 (In thousands) Gain (Loss) Reclassified from Accumulated OCI into Income Three Months Ended December Gain (Loss) Reclassified from Accumulated OCI into Income Nine Months Ended December Location of Gain (Loss) 2020 2019 2020 2019 Net revenues $ 4,048 $ (5,507) $ 6,354 $ (11,226) Cost of goods sold 224 27,157 25,372 60,989 Selling, general and administrative expenses 586 1,231 2,934 3,329 Other income (expense), net (613) 1,006 1,190 7,574 Interest expense 26 (1,324) 80 (3,920) Total $ 4,271 $ 22,563 $ 35,930 $ 56,746

RESTRUCTURING (Tables)

RESTRUCTURING (Tables)	9 Months Ended
	Dec. 26, 2020
Restructuring and Related Activities [Abstract]
Activity in Restructuring	The components of the restructuring charges are as follows: Three Months Ended December Nine Months Ended December (In thousands) 2020 2019 2020 2019 Severance and employee-related benefits $ 24,545 $ 3,859 $ 52,937 $ 7,116 Asset impairments — — 10,557 — Accelerated depreciation 3,429 — 10,093 — Inventory write-downs 7,115 — 7,115 — Contract termination and other 3,107 — 3,324 2,121 Total restructuring charges $ 38,196 $ 3,859 $ 84,026 $ 9,237 Restructuring costs by business segment are as follows: Three Months Ended December Nine Months Ended December (In thousands) 2020 2019 2020 2019 Outdoor $ 2,676 $ 1,670 $ 9,271 $ 6,400 Active 3,275 322 3,938 789 Work 8,409 1,460 27,216 1,641 Corporate and other 23,836 407 43,601 407 Total $ 38,196 $ 3,859 $ 84,026 $ 9,237 The activity in the restructuring accrual for the nine-month period ended December 2020 was as follows: (In thousands) Severance Other Total Accrual at March 2020 $ 38,052 $ 2,888 $ 40,940 Charges 52,937 3,693 56,630 Cash payments (35,393) (2,392) (37,785) Adjustments to accruals (166) 189 23 Impact of foreign currency 15 170 185 Accrual at December 2020 $ 55,445 $ 4,548 $ 59,993

REVENUES - Contract Assets and

REVENUES - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Mar. 28, 2020	Dec. 28, 2019
Revenue from Contract with Customer [Abstract]
Accounts receivable, net	$ 1,411,565	$ 1,308,051	$ 1,539,923
Contract assets	1,512	1,181	1,789
Contract liabilities	$ 55,995	$ 37,498	$ 54,260

REVENUES - Additional Informati

REVENUES - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Dec. 26, 2020	Dec. 26, 2020
Revenue from Contract with Customer [Abstract]
Contracts with customer, liability, revenue recognized	$ 75.2	$ 195.9

REVENUES - Additional Informa_2

REVENUES - Additional Information, Remaining Performance Obligation (Details) $ in Millions	Dec. 26, 2020USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 68.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-12-27
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 5.8
Expected timing of satisfaction	3 months

REVENUES - Disaggregation of Re

REVENUES - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Disaggregation of Revenue [Line Items]
Net revenues	$ 2,971,541	$ 3,155,723	$ 6,656,158	$ 8,386,135
United States
Disaggregation of Revenue [Line Items]
Net revenues	1,567,695	1,752,328	3,370,822	4,507,535
International
Disaggregation of Revenue [Line Items]
Net revenues	1,403,846	1,403,395	3,285,336	3,878,600
Wholesale
Disaggregation of Revenue [Line Items]
Net revenues	1,433,578	1,586,237	3,649,851	4,842,069
Direct-to-consumer
Disaggregation of Revenue [Line Items]
Net revenues	1,524,192	1,550,542	2,969,150	3,498,406
Royalty
Disaggregation of Revenue [Line Items]
Net revenues	13,771	18,944	37,157	45,660
Operating Segments
Disaggregation of Revenue [Line Items]
Net revenues	2,971,541	3,155,723	6,656,158	8,386,135
Operating Segments | Outdoor
Disaggregation of Revenue [Line Items]
Net revenues	1,571,043	1,659,108	3,066,678	3,795,665
Operating Segments | Outdoor | United States
Disaggregation of Revenue [Line Items]
Net revenues	776,674	903,184	1,451,827	1,943,491
Operating Segments | Outdoor | International
Disaggregation of Revenue [Line Items]
Net revenues	794,369	755,924	1,614,851	1,852,174
Operating Segments | Outdoor | Wholesale
Disaggregation of Revenue [Line Items]
Net revenues	763,743	857,939	1,746,203	2,375,117
Operating Segments | Outdoor | Direct-to-consumer
Disaggregation of Revenue [Line Items]
Net revenues	804,711	796,632	1,314,386	1,410,658
Operating Segments | Outdoor | Royalty
Disaggregation of Revenue [Line Items]
Net revenues	2,589	4,537	6,089	9,890
Operating Segments | Active
Disaggregation of Revenue [Line Items]
Net revenues	1,127,121	1,239,462	2,898,639	3,885,222
Operating Segments | Active | United States
Disaggregation of Revenue [Line Items]
Net revenues	620,261	686,733	1,472,145	2,109,479
Operating Segments | Active | International
Disaggregation of Revenue [Line Items]
Net revenues	506,860	552,729	1,426,494	1,775,743
Operating Segments | Active | Wholesale
Disaggregation of Revenue [Line Items]
Net revenues	465,857	527,206	1,371,889	1,897,118
Operating Segments | Active | Direct-to-consumer
Disaggregation of Revenue [Line Items]
Net revenues	655,922	706,186	1,510,354	1,969,700
Operating Segments | Active | Royalty
Disaggregation of Revenue [Line Items]
Net revenues	5,342	6,070	16,396	18,404
Operating Segments | Work
Disaggregation of Revenue [Line Items]
Net revenues	270,182	251,063	686,163	674,826
Operating Segments | Work | United States
Disaggregation of Revenue [Line Items]
Net revenues	170,760	162,411	446,850	454,565
Operating Segments | Work | International
Disaggregation of Revenue [Line Items]
Net revenues	99,422	88,652	239,313	220,261
Operating Segments | Work | Wholesale
Disaggregation of Revenue [Line Items]
Net revenues	200,872	196,342	527,378	547,104
Operating Segments | Work | Direct-to-consumer
Disaggregation of Revenue [Line Items]
Net revenues	63,470	46,384	144,113	110,356
Operating Segments | Work | Royalty
Disaggregation of Revenue [Line Items]
Net revenues	5,840	8,337	14,672	17,366
Other
Disaggregation of Revenue [Line Items]
Net revenues	3,195	6,090	4,678	30,422
Other | United States
Disaggregation of Revenue [Line Items]
Net revenues	0	0	0	0
Other | International
Disaggregation of Revenue [Line Items]
Net revenues	3,195	6,090	4,678	30,422
Other | Wholesale
Disaggregation of Revenue [Line Items]
Net revenues	3,106	4,750	4,381	22,730
Other | Direct-to-consumer
Disaggregation of Revenue [Line Items]
Net revenues	89	1,340	297	7,692
Other | Royalty
Disaggregation of Revenue [Line Items]
Net revenues	$ 0	$ 0	$ 0	$ 0

ACQUISITION (Details)

ACQUISITION (Details) - USD ($) $ in Thousands	Dec. 28, 2020	Dec. 26, 2020	Dec. 26, 2020	Mar. 28, 2020	Dec. 28, 2019
Business Acquisition [Line Items]
Cash and equivalents		$ 3,254,236	$ 3,254,236	$ 1,369,028	$ 540,029
Share based compensation vesting period			3 years
Restricted Stock
Business Acquisition [Line Items]
Restricted stock units granted in period (in shares)			94,242
Share based compensation vesting period			4 years
Supreme
Business Acquisition [Line Items]
Cash and equivalents		2,200,000	$ 2,200,000
Transaction and deal-related expenses		$ 6,600	$ 6,600
Supreme | Subsequent Event
Business Acquisition [Line Items]
Business acquisition, percentage acquired	100.00%
Purchase price	$ 2,100,000
Contingent consideration arrangements, high value	$ 300,000
Supreme | Subsequent Event | Restricted Stock
Business Acquisition [Line Items]
Restricted stock units granted in period (in shares)	605,050
Share based compensation vesting period	4 years

DISCONTINUED OPERATIONS - Addit

DISCONTINUED OPERATIONS - Additional Information (Details)	May 22, 2019USD ($)	Dec. 26, 2020USD ($)	Dec. 28, 2019USD ($)	Dec. 26, 2020USD ($)	Dec. 28, 2019USD ($)	Apr. 30, 2020USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations, net of tax		$ 19,581,000	$ 43,421,000	$ 25,186,000	$ 50,993,000
Stock ratio	0.1429
Credit facility amount outstanding						$ 2,250,000,000
Cash transferred					126,800,000
Spin-off of Jeans Business					54,915,000
Restructuring expense				56,630,000
Accumulated Other Comprehensive Income (Loss)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Spin-off of Jeans Business					(75,293,000)
Discontinued Operations | Occupational Workwear Business
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations, net of tax		$ 19,581,000	31,100,000	$ 25,186,000	86,800,000
Discontinued operations, disposed of by means other than sale, spinoff | Kontoor Brands
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (loss) from discontinued operations, net of tax			$ 12,300,000		(35,800,000)
Credit facility amount outstanding	$ 500,000,000
Debt instrument, term	5 years
Long-term line of credit	$ 1,050,000,000
Cash received from Kontoor Brands, net of cash transferred of $126.8 million	906,100,000
Cash transferred	126,800,000
Spin-off of Jeans Business	54,900,000
Restructuring expense					$ 59,500,000
Discontinued operations, disposed of by means other than sale, spinoff | Accumulated Other Comprehensive Income (Loss) | Kontoor Brands
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Spin-off of Jeans Business	75,300,000
Discontinued operations, disposed of by means other than sale, spinoff | Credit Agreement | Kontoor Brands
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Credit facility amount outstanding	1,550,000,000
Discontinued operations, disposed of by means other than sale, spinoff | Term Loan A Facility | Term loan | Kontoor Brands
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Credit facility amount outstanding	$ 750,000,000
Debt instrument, term	5 years
Discontinued operations, disposed of by means other than sale, spinoff | Term Loan B Facility | Term loan | Kontoor Brands
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Credit facility amount outstanding	$ 300,000,000
Debt instrument, term	7 years
Disposal group, disposed of by sale, not discontinued operations | Kontoor Brands
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Support services period (up to)				24 months

DISCONTINUED OPERATIONS - Summa

DISCONTINUED OPERATIONS - Summary of Major Line Items included in Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from discontinued operations, net of tax	$ 19,581	$ 43,421	$ 25,186	$ 50,993
Occupational Workwear Business | Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenues	176,464		464,107
Cost of goods sold	115,801		330,418
Selling, general and administrative expenses	35,576		103,743
Interest income, net	68		541
Other income (expense), net	22		101
Income from discontinued operations before income taxes	25,177		30,588
Income tax expense (benefit)	5,596		5,402
Income from discontinued operations, net of tax	$ 19,581	31,100	$ 25,186	86,800
Kontoor Brands and Occupational Workwear | Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenues		229,023		998,561
Cost of goods sold		148,810		632,754
Selling, general and administrative expenses		41,450		279,933
Interest income, net		523		1,115
Other income (expense), net		(8)		(672)
Income from discontinued operations before income taxes		39,278		86,317
Income tax expense (benefit)		(4,143)		35,324
Income from discontinued operations, net of tax		$ 43,421		$ 50,993

DISCONTINUED OPERATIONS - Sum_2

DISCONTINUED OPERATIONS - Summary of Carrying Amounts of Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Mar. 28, 2020	Dec. 28, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Other assets	$ 0	$ 0	$ 196,302
Occupational Workwear Business | Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and equivalents	18,771	39,752	43,922
Accounts receivable, net	91,554	83,650	101,835
Inventories	242,204	294,000	310,510
Other current assets	12,802	6,701	8,137
Property, plant and equipment, net	48,605	44,863	41,566
Intangible assets, net	54,472	54,471	60,443
Goodwill	43,530	43,530	49,630
Operating lease right-of-use assets	42,930	38,941	39,565
Other assets	5,780	5,231	5,098
Total assets of discontinued operations	560,648	611,139	660,706
Accounts payable	50,434	63,380	67,244
Accrued liabilities	34,470	29,699	33,812
Operating lease liabilities	33,073	35,867	38,310
Other liabilities	6,303	2,270	2,651
Deferred income tax liabilities	(4,095)	(4,435)	(10,247)
Total liabilities of discontinued operations	$ 120,185	$ 126,781	$ 131,770

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Mar. 28, 2020	Dec. 28, 2019
Inventory Disclosure [Abstract]
Finished products	$ 1,008,796	$ 1,201,562	$ 1,164,967
Work-in-process	55,352	67,603	66,124
Raw materials	11,835	24,747	23,369
Total inventories	$ 1,075,983	$ 1,293,912	$ 1,254,460

INTANGIBLE ASSETS - Schedule of

INTANGIBLE ASSETS - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 26, 2020	Mar. 28, 2020	Dec. 28, 2019
Amortizable intangible assets:
Net Carrying Amount	$ 127,330	$ 142,474
Indefinite-lived intangible assets:
Trademarks and trade names	1,734,712	1,712,071
Intangible assets, net	$ 1,862,042	1,854,545	$ 1,887,789
Customer relationships
Amortizable intangible assets:
Weighted Average Amortization Period	19 years
Cost	$ 271,910
Accumulated Amortization	149,553
Net Carrying Amount	$ 122,357	137,017
License agreements
Amortizable intangible assets:
Weighted Average Amortization Period	19 years
Cost	$ 8,095
Accumulated Amortization	5,478
Net Carrying Amount	$ 2,617	2,548
Other
Amortizable intangible assets:
Weighted Average Amortization Period	8 years
Cost	$ 8,796
Accumulated Amortization	6,440
Net Carrying Amount	$ 2,356	$ 2,909

INTANGIBLE ASSETS - Additional

INTANGIBLE ASSETS - Additional Information (Details) $ in Millions	3 Months Ended	9 Months Ended
	Dec. 26, 2020USD ($)	Dec. 26, 2020USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 4.3	$ 13.2
Estimated amortization expense, 2021	17	17
Estimated amortization expense, 2022	15.4	15.4
Estimated amortization expense, 2023	14.3	14.3
Estimated amortization expense, 2024	13.8	13.8
Estimated amortization expense, 2025	$ 13.3	$ 13.3

GOODWILL - Changes in Goodwill

GOODWILL - Changes in Goodwill (Details) $ in Thousands	9 Months Ended
	Dec. 26, 2020USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 1,156,019
Currency translation	38,193
Goodwill, ending balance	1,194,212
Outdoor
Goodwill [Roll Forward]
Goodwill, beginning balance	653,433
Currency translation	14,772
Goodwill, ending balance	668,205
Active
Goodwill [Roll Forward]
Goodwill, beginning balance	389,848
Currency translation	21,618
Goodwill, ending balance	411,466
Work
Goodwill [Roll Forward]
Goodwill, beginning balance	112,738
Currency translation	1,803
Goodwill, ending balance	$ 114,541

GOODWILL - Additional Informati

GOODWILL - Additional Information (Details) - USD ($)	9 Months Ended
	Dec. 26, 2020	Mar. 28, 2020
Goodwill [Line Items]
Impairment charge	$ 0
Outdoor
Goodwill [Line Items]
Accumulated impairment charges	$ 323,200,000	$ 323,200,000

LEASES - Lease Costs (Details)

LEASES - Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Leases [Abstract]
Operating lease cost	$ 110,970	$ 103,339	$ 326,501	$ 309,950
Other lease costs	19,336	36,165	53,906	85,271
Total lease cost	$ 130,306	$ 139,504	$ 380,407	$ 395,221

LEASES - Cash Flow Information

LEASES - Cash Flow Information (Details) - USD ($) $ in Millions	9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows – operating leases	$ 289.4	$ 314.7
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$ 506.7	$ 347.9

SHORT-TERM BORROWINGS AND LON_3

SHORT-TERM BORROWINGS AND LONG-TERM DEBT - Additional Information (Details) - USD ($)	Apr. 01, 2020	Mar. 31, 2020	Dec. 26, 2020	Apr. 30, 2020
Line of Credit Facility [Line Items]
Credit facility amount outstanding				$ 2,250,000,000
Ratio of consolidated indebtedness to consolidated capitalization maximum	70.00%	60.00%
Covenant liquidity threshold				$ 750,000,000
Commercial Paper
Line of Credit Facility [Line Items]
Commercial paper			$ 286,000,000
Global Credit Facility | Commercial Paper
Line of Credit Facility [Line Items]
Credit facility amount outstanding			2,250,000,000
International Lending Agreements
Line of Credit Facility [Line Items]
Credit facility amount outstanding			71,200,000
Outstanding amount of letters of credit			13,700,000
Senior Notes
Line of Credit Facility [Line Items]
Long-term debt			$ 2,980,000,000

SHORT-TERM BORROWINGS AND LON_4

SHORT-TERM BORROWINGS AND LONG-TERM DEBT - Senior Notes Issuance (Details) - Senior Notes	Apr. 30, 2020USD ($)
Line of Credit Facility [Line Items]
Aggregate Principal	$ 3,000,000,000
notes, due 2022
Line of Credit Facility [Line Items]
Interest Rate	2.05%
Aggregate Principal	$ 1,000,000,000
Effective Annual Interest Rate	2.277%
notes, due 2025
Line of Credit Facility [Line Items]
Interest Rate	2.40%
Aggregate Principal	$ 750,000,000
Effective Annual Interest Rate	2.603%
notes, due 2027
Line of Credit Facility [Line Items]
Interest Rate	2.80%
Aggregate Principal	$ 500,000,000
Effective Annual Interest Rate	2.953%
notes, due 2030
Line of Credit Facility [Line Items]
Interest Rate	2.95%
Aggregate Principal	$ 750,000,000
Effective Annual Interest Rate	3.071%

PENSION PLANS - Components of P

PENSION PLANS - Components of Pension Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Retirement Benefits [Abstract]
Service cost – benefits earned during the period	$ 3,837	$ 3,401	$ 11,252	$ 10,192
Interest cost on projected benefit obligations	11,764	14,581	35,693	44,085
Expected return on plan assets	(20,586)	(23,176)	(61,696)	(69,505)
Settlement charges	544	24,943	1,116	25,462
Amortization of deferred amounts:
Net deferred actuarial losses	3,020	4,203	8,781	12,236
Deferred prior service costs (credits)	(19)	13	(53)	38
Net periodic pension cost (income)	$ (1,440)	$ 23,965	$ (4,907)	$ 22,508

PENSION PLANS - Additional Info

PENSION PLANS - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Sep. 26, 2020	Dec. 26, 2020	Dec. 28, 2019
Defined Benefit Plan Disclosure [Line Items]
Defined benefit pension plan contributed				$ 7,300
Defined benefit pension plan additional contributions to make next fiscal year	$ 11,500			11,500
Settlement charges	544	$ 24,943		1,116	$ 25,462
Supplemental defined benefit pension plan
Defined Benefit Plan Disclosure [Line Items]
Settlement charges	$ 500	2,000		$ 1,100	$ 2,500
Discount rate			2.87%	2.62%
Qualified defined benefit pension plan
Defined Benefit Plan Disclosure [Line Items]
Settlement charges		$ 22,900

CAPITAL AND ACCUMULATED OTHER_3

CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Additional Information (Details) - $ / shares	9 Months Ended
	Dec. 26, 2020	Mar. 28, 2020	Dec. 28, 2019
Equity [Abstract]
Purchases of treasury stock (in shares)	0
Treasury shares (in shares)	0	0	0
Common Stock (in USD per share)	$ 0.25	$ 0.25	$ 0.25

CAPITAL AND ACCUMULATED OTHER_4

CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Deferred Components of OCI Reported, Net of Related Income Taxes, in Accumulated OCI in Stockholders' Equity (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Sep. 26, 2020	Mar. 28, 2020	Dec. 28, 2019	Sep. 28, 2019	Mar. 30, 2019
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total stockholders’ equity	$ 3,138,174	$ 2,945,238	$ 3,357,334	$ 4,567,590	$ 4,647,619	$ 4,298,516
Foreign currency translation and other
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total stockholders’ equity	(663,863)	(700,137)	(737,709)	(663,319)	(715,286)	(725,679)
Defined benefit pension plans
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total stockholders’ equity	(264,966)	(264,304)	(262,472)	(249,530)	(298,326)	(243,184)
Derivative financial instruments
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total stockholders’ equity	(67,134)	4,783	69,223	17,477	82,887	66,788
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Total stockholders’ equity	$ (995,963)	$ (959,658)	$ (930,958)	$ (895,372)	$ (930,725)	$ (902,075)

CAPITAL AND ACCUMULATED OTHER_5

CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Changes in Accumulated OCI, Net of Related Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 2,945,238	$ 4,647,619	$ 3,357,334	$ 4,298,516
Other comprehensive income (loss) before reclassifications	(35,640)	32,258	(85,673)	12,174
Amounts reclassified from accumulated other comprehensive income (loss)	(665)	3,095	20,668	(18,903)
Spin-off of Jeans Business				(54,915)
Other comprehensive income (loss)	(36,305)	35,353	(65,005)	(6,729)
Ending balance	3,138,174	4,567,590	3,138,174	4,567,590
Foreign currency translation and other
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(700,137)	(715,286)	(737,709)	(725,679)
Adoption of new accounting standard, ASU 2018-02				(9,088)
Other comprehensive income (loss) before reclassifications	36,274	51,967	31,482	(11,646)
Amounts reclassified from accumulated other comprehensive income (loss)	0	0	42,364	0
Spin-off of Jeans Business				83,094
Other comprehensive income (loss)	36,274	51,967	73,846	62,360
Ending balance	(663,863)	(663,319)	(663,863)	(663,319)
Defined benefit pension plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(264,304)	(298,326)	(262,472)	(243,184)
Adoption of new accounting standard, ASU 2018-02				(50,402)
Other comprehensive income (loss) before reclassifications	(3,541)	26,827	(10,183)	15,108
Amounts reclassified from accumulated other comprehensive income (loss)	2,879	21,969	7,689	28,154
Spin-off of Jeans Business				794
Other comprehensive income (loss)	(662)	48,796	(2,494)	(6,346)
Ending balance	(264,966)	(249,530)	(264,966)	(249,530)
Derivative Financial Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	4,783	82,887	69,223	66,788
Adoption of new accounting standard, ASU 2018-02				(2,371)
Other comprehensive income (loss) before reclassifications	(68,373)	(46,536)	(106,972)	8,712
Amounts reclassified from accumulated other comprehensive income (loss)	(3,544)	(18,874)	(29,385)	(47,057)
Spin-off of Jeans Business				(8,595)
Other comprehensive income (loss)	(71,917)	(65,410)	(136,357)	(49,311)
Ending balance	(67,134)	17,477	(67,134)	17,477
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(959,658)	(930,725)	(930,958)	(902,075)
Adoption of new accounting standard, ASU 2018-02				(61,861)
Spin-off of Jeans Business				75,293
Other comprehensive income (loss)	(36,305)	35,353	(65,005)	6,703
Ending balance	$ (995,963)	$ (895,372)	$ (995,963)	$ (895,372)

CAPITAL AND ACCUMULATED OTHER_6

CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Reclassification Out of Accumulated OCI (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income (expense), net	$ 6,484	$ (22,144)	$ (27,059)	$ (18,361)
Net revenues	2,971,541	3,155,723	6,656,158	8,386,135
Cost of goods sold	(1,345,024)	(1,351,653)	(3,134,381)	(3,704,254)
Selling, general and administrative expenses	(1,214,518)	(1,264,031)	(3,036,639)	(3,497,315)
Interest expense	(34,315)	(22,303)	(97,684)	(65,240)
Total before tax	386,707	500,558	367,423	1,116,899
Tax expense	(59,048)	(78,976)	(74,260)	(4,667)
Income from continuing operations	327,659	421,582	293,163	1,112,232
Total reclassifications for the period, net of tax	665	(3,095)	(20,668)	18,903
Foreign currency translation and other
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications for the period, net of tax	0	0	(42,364)	0
Defined benefit pension plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications for the period, net of tax	(2,879)	(21,969)	(7,689)	(28,154)
Gains (losses) on derivative financial instruments:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total reclassifications for the period, net of tax	3,544	18,874	29,385	47,057
Reclassification out of Accumulated Other Comprehensive Income | Foreign currency translation and other
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income (expense), net	0	0	(42,364)	0
Total before tax	0	0	(42,364)	0
Tax expense	0	0	0	0
Income from continuing operations	0	0	(42,364)	0
Reclassification out of Accumulated Other Comprehensive Income | Net deferred actuarial losses
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income (expense), net	(3,020)	(4,203)	(8,781)	(12,236)
Reclassification out of Accumulated Other Comprehensive Income | Deferred prior service (costs) credits
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income (expense), net	19	(13)	53	(38)
Reclassification out of Accumulated Other Comprehensive Income | Defined benefit pension plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income (expense), net	(544)	(24,943)	(1,116)	(25,462)
Total before tax	(3,545)	(29,159)	(9,844)	(37,736)
Tax expense	666	7,190	2,155	9,582
Income from continuing operations	(2,879)	(21,969)	(7,689)	(28,154)
Reclassification out of Accumulated Other Comprehensive Income | Gains (losses) on derivative financial instruments:
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total before tax	4,271	22,563	35,930	56,746
Tax expense	(727)	(3,689)	(6,545)	(9,689)
Income from continuing operations	3,544	18,874	29,385	47,057
Reclassification out of Accumulated Other Comprehensive Income | Gains (losses) on derivative financial instruments: | Foreign currency exchange
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income (expense), net	(613)	1,006	1,190	7,574
Net revenues	4,048	(5,507)	6,354	(11,226)
Cost of goods sold	224	27,157	25,372	60,989
Selling, general and administrative expenses	586	1,231	2,934	3,329
Reclassification out of Accumulated Other Comprehensive Income | Gains (losses) on derivative financial instruments: | Interest rate contracts
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	$ 26	$ (1,324)	$ 80	$ (3,920)

STOCK-BASED COMPENSATION - Addi

STOCK-BASED COMPENSATION - Additional Information (Details)	9 Months Ended
	Dec. 26, 2020$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted in period (in shares)	1,687,794
Exercise price of options granted (in USD per share) | $ / shares	$ 55.79
Share based compensation vesting period	3 years
Period of time options become exercisable	1 year
Expiration period	10 years
Performance-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units granted in period (in shares)	398,203
Performance period	3 years
Grant date fair value of each restricted units granted (in USD per share) | $ / shares	$ 60.12
Percentage, revenue growth	50.00%
Percentage, TSR	50.00%
Percentage adjustments in period	25.00%
Performance-Based Restricted Stock Units | Valuation Technique, Option Pricing Model
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value of each restricted units granted (in USD per share) | $ / shares	$ 81.60
Nonperformance-Based Restricted Stock Units | Board of Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation vesting period	1 year
Restricted stock units granted in period (in shares)	16,775
Grant date fair value of each restricted units granted (in USD per share) | $ / shares	$ 55.74
Nonperformance-Based Restricted Stock Units | Key Employees In International Jurisdictions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation vesting period	4 years
Restricted stock units granted in period (in shares)	30,500
Ratio of shares of common stock to be issued for each restricted stock unit granted (in shares)	1
Grant date fair value of each restricted units granted (in USD per share) | $ / shares	$ 59.80
Nonperformance-Based Restricted Stock Units | Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units granted in period (in shares)	269,836
Ratio of shares of common stock to be issued for each restricted stock unit granted (in shares)	1
Grant date fair value of each restricted units granted (in USD per share) | $ / shares	$ 55.90
Nonperformance-Based Restricted Stock Units | Employees | Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation vesting period	2 years
Award vesting rights (percent)	50.00%
Nonperformance-Based Restricted Stock Units | Employees | Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation vesting period	4 years
Award vesting rights (percent)	50.00%
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation vesting period	4 years
Restricted stock units granted in period (in shares)	94,242
Grant date fair value of each restricted units granted (in USD per share) | $ / shares	$ 59.42
Minimum | Performance-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Ratio of shares of common stock to be issued for each restricted stock unit granted (in shares)	0
Maximum | Performance-Based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Ratio of shares of common stock to be issued for each restricted stock unit granted (in shares)	2

STOCK-BASED COMPENSATION - Assu

STOCK-BASED COMPENSATION - Assumptions Used and Resulting Weighted Average Fair Value of Stock Option Granted (Details)	9 Months Ended
	Dec. 26, 2020$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility, minimum	28.00%
Expected volatility, maximum	48.00%
Weighted average expected volatility	37.00%
Weighted average dividend yield	2.40%
Risk-free interest rate, minimum	0.10%
Risk-free interest rate, maximum	0.80%
Weighted average fair value at date of grant (in USD per share)	$ 15.79
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	6 years 2 months 12 days
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	8 years

INCOME TAXES (Details)

INCOME TAXES (Details) € in Millions, $ in Millions	Jan. 13, 2017USD ($)	Jan. 13, 2017EUR (€)	Jan. 31, 2018USD ($)	Jan. 31, 2018EUR (€)	Dec. 26, 2020USD ($)	Dec. 28, 2019USD ($)	Jan. 10, 2017EUR (€)
Income Tax Contingency [Line Items]
Effective income tax rate					20.20%	0.40%
Net discrete tax expense (benefit)					$ 3.7	$ (169.4)
Net tax expense related to unrecognized tax benefits and interest					15.2
Tax benefit from share-based compensation					2.3
Tax benefit from accrual adjustments					4.9
Foreign earnings expense					$ 4.3
Effective tax rate, excluding discrete items					19.20%	15.60%
Benefit from tax reform						$ 164.4
Effective tax rate, excluding discrete items, increase (decrease) from prior period					3.60%
Increase in unrecognized tax benefits and associated interest					$ 17.7
Net unrecognized tax benefits and interest, if recognized, would reduce the annual effective tax rate					182.9
Decrease in unrecognized income tax benefits					31.1
Reduction in income tax expenses					$ 12.7
VF Europe BVBA | Domestic Tax Authority | Administration of the Treasury, Belgium
Income Tax Contingency [Line Items]
Tax and interest from settlement | €							€ 31.9
Tax remitted	$ 33.9	€ 31.9	$ 3.8	€ 3.1

REPORTABLE SEGMENT INFORMATIO_2

REPORTABLE SEGMENT INFORMATION (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Segment Reporting Information [Line Items]
Total segment revenues	$ 2,971,541	$ 3,155,723	$ 6,656,158	$ 8,386,135
Operating income	411,999	540,039	485,138	1,184,566
Income from continuing operations before income taxes	386,707	500,558	367,423	1,116,899
Certain corporate overhead costs allocated to selling, general, and administrative expense		6,600		18,900
Operating Segments
Segment Reporting Information [Line Items]
Total segment revenues	2,971,541	3,155,723	6,656,158	8,386,135
Operating income	525,605	654,780	755,513	1,557,441
Operating Segments | Outdoor
Segment Reporting Information [Line Items]
Total segment revenues	1,571,043	1,659,108	3,066,678	3,795,665
Operating income	311,767	348,995	283,531	525,107
Operating Segments | Active
Segment Reporting Information [Line Items]
Total segment revenues	1,127,121	1,239,462	2,898,639	3,885,222
Operating income	201,373	286,474	467,632	982,240
Operating Segments | Work
Segment Reporting Information [Line Items]
Total segment revenues	270,182	251,063	686,163	674,826
Operating income	16,900	22,111	13,672	52,129
Other
Segment Reporting Information [Line Items]
Total segment revenues	3,195	6,090	4,678	30,422
Operating income	(4,435)	(2,800)	(9,322)	(2,035)
Interest expense, net	(31,776)	(17,337)	(90,656)	(49,306)
Corporate and other expenses
Segment Reporting Information [Line Items]
Corporate and other expenses	$ (107,122)	$ (136,885)	$ (297,434)	$ (391,236)

EARNINGS PER SHARE - Schedule o

EARNINGS PER SHARE - Schedule of Earnings Per Share Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Earnings per share – basic:
Income from continuing operations	$ 327,659	$ 421,582	$ 293,163	$ 1,112,232
Weighted average common shares outstanding (in shares)	389,872	395,940	389,262	396,806
Earnings per share from continuing operations (in USD per share)	$ 0.84	$ 1.06	$ 0.75	$ 2.80
Earnings per share – diluted:
Income from continuing operations	$ 327,659	$ 421,582	$ 293,163	$ 1,112,232
Weighted average common shares outstanding (in shares)	389,872	395,940	389,262	396,806
Incremental shares from stock options and other dilutive securities (in shares)	2,979	4,382	2,345	4,693
Adjusted weighted average common shares outstanding (in shares)	392,851	400,322	391,607	401,499
Earnings per share from continuing operations (in USD per share)	$ 0.83	$ 1.05	$ 0.75	$ 2.77

EARNINGS PER SHARE - Additional

EARNINGS PER SHARE - Additional Information (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Employees And Non Employees Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options excluded from computation of earnings per share	1.5	1.5	4.1	1.5
Performance-Based Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock options excluded from computation of earnings per share	0.8	0.8	0.6	0.8

FAIR VALUE MEASUREMENTS - Measu

FAIR VALUE MEASUREMENTS - Measured on Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Mar. 28, 2020	Dec. 28, 2019
Financial assets:
Short-term investments	$ 599,403
Derivative financial instruments	16,209	$ 91,834	$ 51,643
Deferred compensation	135,710	105,706
Financial liabilities:
Derivative financial instruments	97,835	14,531	$ 42,979
Deferred compensation	148,179	113,289
Level 1
Financial assets:
Short-term investments	599,403
Derivative financial instruments	0	0
Deferred compensation	135,710	105,706
Financial liabilities:
Derivative financial instruments	0	0
Deferred compensation	0	0
Level 2
Financial assets:
Short-term investments	0
Derivative financial instruments	16,209	91,834
Deferred compensation	0	0
Financial liabilities:
Derivative financial instruments	97,835	14,531
Deferred compensation	148,179	113,289
Level 3
Financial assets:
Short-term investments	0
Derivative financial instruments	0	0
Deferred compensation	0	0
Financial liabilities:
Derivative financial instruments	0	0
Deferred compensation	0	0
Money market funds
Financial assets:
Cash equivalents:	546,719	1,211,887
Money market funds | Level 1
Financial assets:
Cash equivalents:	546,719	1,211,887
Money market funds | Level 2
Financial assets:
Cash equivalents:	0	0
Money market funds | Level 3
Financial assets:
Cash equivalents:	0	0
Time deposits
Financial assets:
Cash equivalents:	17,408	1,932
Time deposits | Level 1
Financial assets:
Cash equivalents:	17,408	1,932
Time deposits | Level 2
Financial assets:
Cash equivalents:	0	0
Time deposits | Level 3
Financial assets:
Cash equivalents:	$ 0	$ 0

FAIR VALUE MEASUREMENTS - Addit

FAIR VALUE MEASUREMENTS - Additional Information (Details) - USD ($) $ in Millions	Dec. 26, 2020	Mar. 28, 2020
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	$ 5,787.6	$ 2,609.3
Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt	$ 6,276.8	$ 2,672.9

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Additional Information (Details) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 26, 2020USD ($)	Dec. 28, 2019USD ($)	Dec. 26, 2020USD ($)	Dec. 28, 2019USD ($)	Dec. 26, 2020EUR (€)	Mar. 28, 2020USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative contract maturity (up to)			20 months
Gain (loss) on derivative contracts not designated as hedges	$ 0.6		$ 4.3
Net pretax deferred losses for foreign currency exchange contracts that are expected to be reclassified to earnings during next 12 months	55.3		55.3
Net Investment Hedge
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount | €					€ 1,850,000,000
Gain (loss) on derivative used in net investment hedge	(79.2)	$ (15.3)	(150.8)	$ 2.3
Foreign currency exchange
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, notional amount	$ 2,500	$ 2,800	$ 2,500	$ 2,800		$ 2,600

DERIVATIVE FINANCIAL INSTRUME_4

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Outstanding Derivatives on Individual Contract Basis at Gross Amounts (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Mar. 28, 2020	Dec. 28, 2019
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fair Value of Derivatives with Unrealized Gains	$ 16,209	$ 91,834	$ 51,643
Fair Value of Derivatives with Unrealized Losses	(97,835)	(14,531)	(42,979)
Foreign currency exchange contracts designated as hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fair Value of Derivatives with Unrealized Gains	12,457	78,298	46,573
Fair Value of Derivatives with Unrealized Losses	(96,437)	(12,682)	(42,050)
Foreign currency exchange contracts not designated as hedging instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Fair Value of Derivatives with Unrealized Gains	3,752	13,536	5,070
Fair Value of Derivatives with Unrealized Losses	$ (1,398)	$ (1,849)	$ (929)

DERIVATIVE FINANCIAL INSTRUME_5

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Fair Value of Derivative Assets and Liabilities in Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Mar. 28, 2020	Dec. 28, 2019
Derivative Asset
Gross amounts presented in the Consolidated Balance Sheets	$ 16,209	$ 91,834	$ 51,643
Gross amounts not offset in the Consolidated Balance Sheets	(16,209)	(14,393)	(27,958)
Net amounts	0	77,441	23,685
Derivative Liability
Gross amounts presented in the Consolidated Balance Sheets	(97,835)	(14,531)	(42,979)
Gross amounts not offset in the Consolidated Balance Sheets	16,209	14,393	27,958
Net amounts	$ (81,626)	$ (138)	$ (15,021)

DERIVATIVE FINANCIAL INSTRUME_6

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Derivatives Classified as Current or Noncurrent Based on Maturity Dates (Details) - USD ($) $ in Thousands	Dec. 26, 2020	Mar. 28, 2020	Dec. 28, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Other current assets	$ 15,510	$ 71,784	$ 49,650
Accrued liabilities	(77,317)	(11,378)	(34,710)
Other assets	699	20,050	1,993
Other liabilities	$ (20,518)	$ (3,153)	$ (8,269)

DERIVATIVE FINANCIAL INSTRUME_7

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES - Effects of Cash Flow Hedging included in Consolidated Statements of Income and Consolidated Statements of Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Gains arising during the period	$ (82,491)	$ (56,699)	$ (129,817)	$ 9,471
Reclassification of net (gains) losses realized	4,271	22,563	35,930	56,746
Foreign currency exchange
Derivative Instruments, Gain (Loss) [Line Items]
Gains arising during the period	(82,491)	(56,699)	(129,817)	9,471
Foreign currency exchange | Net revenues
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification of net (gains) losses realized	4,048	(5,507)	6,354	(11,226)
Foreign currency exchange | Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification of net (gains) losses realized	224	27,157	25,372	60,989
Foreign currency exchange | Selling, general and administrative expenses
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification of net (gains) losses realized	586	1,231	2,934	3,329
Foreign currency exchange | Other income (expense), net
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification of net (gains) losses realized	(613)	1,006	1,190	7,574
Interest expense | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Reclassification of net (gains) losses realized	$ 26	$ (1,324)	$ 80	$ (3,920)

RESTRUCTURING - Additional Info

RESTRUCTURING - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019	Mar. 28, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 38,196	$ 3,859	$ 84,026	$ 9,237
Restructuring reserve	59,993		59,993		$ 40,940
Accrued Current Liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	54,800		54,800
Other Noncurrent Liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	5,200		5,200
Selling, general and administrative expenses
Restructuring Cost and Reserve [Line Items]
Restructuring charges	15,700		44,400
Cost of goods sold
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 22,500		$ 39,600

RESTRUCTURING - Restructuring C

RESTRUCTURING - Restructuring Charges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Restructuring and Related Activities [Abstract]
Severance and employee-related benefits	$ 24,545	$ 3,859	$ 52,937	$ 7,116
Asset impairments	0	0	10,557	0
Accelerated depreciation	3,429	0	10,093	0
Inventory write-downs	7,115	0	7,115	0
Contract termination and other	3,107	0	3,324	2,121
Restructuring charges	$ 38,196	$ 3,859	$ 84,026	$ 9,237

RESTRUCTURING - Restructuring_2

RESTRUCTURING - Restructuring costs by business segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 38,196	$ 3,859	$ 84,026	$ 9,237
Operating Segments | Outdoor
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2,676	1,670	9,271	6,400
Operating Segments | Active
Restructuring Cost and Reserve [Line Items]
Restructuring charges	3,275	322	3,938	789
Operating Segments | Work
Restructuring Cost and Reserve [Line Items]
Restructuring charges	8,409	1,460	27,216	1,641
Corporate and other
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 23,836	$ 407	$ 43,601	$ 407

RESTRUCTURING - Activity in Res

RESTRUCTURING - Activity in Restructuring Accrual (Details) $ in Thousands	9 Months Ended
	Dec. 26, 2020USD ($)
Restructuring Reserve [Roll Forward]
Amounts recorded in accrued liabilities, beginning	$ 40,940
Charges	56,630
Cash payments	(37,785)
Adjustments to accruals	23
Impact of foreign currency	185
Amounts recorded in accrued liabilities. ending	59,993
Severance
Restructuring Reserve [Roll Forward]
Amounts recorded in accrued liabilities, beginning	38,052
Charges	52,937
Cash payments	(35,393)
Adjustments to accruals	(166)
Impact of foreign currency	15
Amounts recorded in accrued liabilities. ending	55,445
Other
Restructuring Reserve [Roll Forward]
Amounts recorded in accrued liabilities, beginning	2,888
Charges	3,693
Cash payments	(2,392)
Adjustments to accruals	189
Impact of foreign currency	170
Amounts recorded in accrued liabilities. ending	$ 4,548

CONTINGENCIES (Details)

CONTINGENCIES (Details) $ in Millions	9 Months Ended
	Dec. 26, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
Estimate of possible loss interest payments	$ 175
Estimate of possible loss	$ 136

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Subsequent Event - USD ($) $ / shares in Units, $ in Billions	Dec. 28, 2020	Jan. 20, 2021
Supreme
Subsequent Event [Line Items]
Purchase price	$ 2.1
Dividend Declared
Subsequent Event [Line Items]
Cash dividend (in USD per share)		$ 0.49