V.F. (VFC) 8-K Condensed Consolidated Statements of Income

Exhibit 99

VF CORPORATION

Condensed Consolidated Statements of Income

(Unaudited)

(In thousands, except per share amounts)

	2016 (a)
	First Quarter			Second Quarter			Third Quarter			Fourth Quarter			Full Year
Net sales	$	2,606,982		$	2,294,762		$	3,298,484		$	3,138,251		$	11,338,479
Royalty income		27,435			25,704			29,232			27,732			110,103
Total revenues		2,634,417			2,320,466			3,327,716			3,165,983			11,448,582
Costs and operating expenses
Cost of goods sold		1,350,700			1,185,247			1,693,071			1,591,228			5,820,246
Selling, general and administrative expenses		971,920			940,797			1,026,398			1,204,708			4,143,823
Impairment of goodwill and intangible assets		-			-			-			79,644			79,644
Total costs and operating expenses		2,322,620			2,126,044			2,719,469			2,875,580			10,043,713
Operating income		311,797			194,422			608,247			290,403			1,404,869
Interest, net		(20,020	)		(21,394	)		(22,568	)		(21,564	)		(85,546	)
Other income (expense), net		1,292			1,501			(1,097	)		305			2,001
Income from continuing operations before income taxes		293,069			174,529			584,582			269,144			1,321,324
Income taxes		51,134			38,036			99,358			16,060			204,588
Income from continuing operations		241,935			136,493			485,224			253,084			1,116,736
Income (loss) from discontinued operations, net of tax		18,334			(85,478	)		13,265			11,249			(42,630	)
Net income	$	260,269		$	51,015		$	498,489		$	264,333		$	1,074,106
Earnings (loss) per common share - basic (b)
Continuing operations	$	0.57		$	0.33		$	1.17		$	0.61		$	2.68
Discontinued operations		0.04			(0.21	)		0.03			0.03			(0.10	)
Total earnings per common share - basic	$	0.62		$	0.12		$	1.21		$	0.64		$	2.58
Earnings (loss) per common share - diluted (b)
Continuing operations	$	0.56		$	0.32		$	1.16		$	0.61		$	2.65
Discontinued operations		0.04			(0.20	)		0.03			0.03			(0.10	)
Total earnings per common share - diluted	$	0.61		$	0.12		$	1.19		$	0.63		$	2.54
Weighted average shares outstanding
Basic		421,748			415,991			413,461			413,214			416,103
Diluted		429,133			422,059			419,240			417,891			422,081
Cash dividends per common share	$	0.37		$	0.37		$	0.37		$	0.42		$	1.53

Basis of presentation of unaudited Condensed Consolidated Statements of Income: VF operates and reports using a 52/53 week fiscal year ending on the Saturday closest to December 31 of each year. For presentation purposes herein, all references to First Quarter, Second Quarter, Third Quarter, Fourth Quarter and Full Year 2016 relate to the 13-week fiscal periods ended April 2, 2016, July 2, 2016, October 1, 2016, December 31, 2016 and the 52-week fiscal period ended December 31, 2016, respectively.

^(a) In order to assist investors in understanding the impact of dispositions on VF's results of operations, VF has retrospectively revised its 2016 unaudited Condensed Consolidated Statements of Income to reflect discontinued operations of the Licensing Business, which comprises the Licensed Sports Group and JanSport^® brand collegiate businesses, and the Contemporary Brands coalition, which included the 7 For All Mankind^®, Splendid^®and Ella Moss^® brands.

^(b) Amounts have been calculated using unrounded numbers.

VF CORPORATION

Supplemental Financial Information

GAAP Continuing Operations EPS to Non-GAAP Continuing Operations EPS

(Unaudited)

	Twelve Months Ended December
	2016
Diluted earnings per share from continuing operations	$	2.65
Adjusted amounts (a)	$	0.33
Diluted earnings per share from continuing operations - adjusted	$	2.98
Contribution from Licensing Business (b)	$	0.13	��
Adjusted diluted earnings per share from continuing operations including contribution from Licensing Business	$	3.11

Non-GAAP Financial Information

The financial information above has been presented on a GAAP basis and on an adjusted basis, which is described below in (a) and (b). Management believes these measures provide investors with useful supplemental information regarding VF's underlying business trends and the performance of VF's ongoing operations and are useful for period-over-period comparisons of such operations.

While management believes that these non-GAAP financial measures are useful in evaluating the business, this information should be considered as supplemental in nature and should be viewed in addition to, and not in lieu of or superior to, VF's operating performance measures calculated in accordance with GAAP. In addition, these non-GAAP financial measures may not be the same as similarly titled measures presented by other companies.

^(a) Adjusted amounts in 2016 represent restructuring charges of $58.1 million (net of $14.4 million tax), goodwill and intangible asset impairment charges of $79.6 million (net of $15.5 million tax) and a pension settlement charge of $50.9 million (net of $19.5 million tax). The EPS impact was calculated using 422,081,000 weighted average common shares. Excluding these charges, adjusted operating income from continuing operations in 2016 was $1.6 billion. Adjusted operating margin from continuing operations in 2016 was 14%.

^(b) In the first quarter of 2017, the Licensing Business met the criteria for discontinued operations reporting and this adjusted amount represents the results of our Licensing Business as if the business was not reported as discontinued operations. The per share amounts were calculated using weighted average common shares of 422,081,000.

Following is the reconciliation of diluted earnings per share from discontinued operations to the adjusted amounts:

	Twelve Months Ended
	December 2016
Diluted loss per share from discontinued operations, as reported under GAAP	$	(0.10	)
Diluted loss per share related to discontinued operations of Contemporary Brands in 2016		0.23
Diluted per share contribution from Licensing Business reported in discontinued operations	$	0.13