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CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS
12 Months Ended
Mar. 30, 2024
Equity [Abstract]  
CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS
Common Stock

During the years ended March 2024 and 2023, 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. During the year ended March 2022, the Company purchased 4.8 million shares of Common Stock in open market transactions for $350.0 million under its share repurchase program authorized by VF's Board of Directors. These purchases were treated as treasury stock transactions.
Common Stock outstanding is net of shares held in treasury which are, in substance, retired. During the year ended March 2022, VF restored 4.8 million treasury shares to an unissued status, after which they were no longer recognized as shares held in treasury. There were no shares held in treasury at the end of March 2024, 2023 or 2022. 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 Loss

Comprehensive income (loss) consists of net income (loss) and specified components of other comprehensive income (loss), which relate to changes in assets and liabilities that are not included in net income (loss) under GAAP but are instead deferred and accumulated within a separate component of stockholders’ equity in the balance sheet. VF’s comprehensive income (loss) is presented in the Consolidated Statements of Comprehensive Income (Loss). The deferred components of other comprehensive income (loss) are reported, net of related income taxes, in accumulated OCL in stockholders’ equity, as follows:
(In thousands)March 2024March 2023
Foreign currency translation and other$(868,439)$(859,651)
Defined benefit pension plans(182,333)(167,692)
Derivative financial instruments(13,559)7,825 
Accumulated other comprehensive loss$(1,064,331)$(1,019,518)
The changes in accumulated OCL, net of related taxes, were as follows:
(In thousands)Foreign Currency Translation and OtherDefined
Benefit
Pension Plans
Derivative
Financial
Instruments
Total
Balance, March 2021$(700,173)$(257,747)$(51,080)$(1,009,000)
Other comprehensive income (loss) before reclassifications(51,459)13,547 59,753 21,841 
Amounts reclassified from accumulated other comprehensive loss— 13,910 46,670 60,580 
Net other comprehensive income (loss)(51,459)27,457 106,423 82,421 
Balance, March 2022(751,632)(230,290)55,343 (926,579)
Other comprehensive income (loss) before reclassifications(108,019)(18,596)44,979 (81,636)
Amounts reclassified from accumulated other comprehensive loss— 81,194 (92,497)(11,303)
Net other comprehensive income (loss)(108,019)62,598 (47,518)(92,939)
Balance, March 2023(859,651)(167,692)7,825 (1,019,518)
Other comprehensive income (loss) before reclassifications(8,788)(28,939)(6,443)(44,170)
Amounts reclassified from accumulated other comprehensive loss— 14,298 (14,941)(643)
Net other comprehensive income (loss)(8,788)(14,641)(21,384)(44,813)
Balance, March 2024$(868,439)$(182,333)$(13,559)$(1,064,331)
 
Reclassifications out of accumulated OCL were as follows:
(In thousands)Affected Line Item in the Consolidated Statements of OperationsYear Ended March
Details About Accumulated Other
Comprehensive Loss Components
202420232022
Amortization of defined benefit pension plans:
Net deferred actuarial lossesOther income (expense), net$(16,195)$(16,395)$(11,310)
Deferred prior service creditsOther income (expense), net80 453 440 
Pension settlement chargesOther income (expense), net(3,538)(93,731)(7,466)
Total before tax(19,653)(109,673)(18,336)
Tax benefit5,355 28,479 4,426 
Net of tax(14,298)(81,194)(13,910)
Gains (losses) on derivative financial instruments:
Foreign exchange contractsNet revenues(5,004)(6,843)(27,382)
Foreign exchange contractsCost of goods sold15,703 120,438 (26,346)
Foreign exchange contractsSelling, general and administrative expenses3,437 6,695 (487)
Foreign exchange contractsOther income (expense), net(253)(10,365)(219)
Interest rate contractsInterest expense4,238 235 108 
Total before tax18,121 110,160 (54,326)
Tax (expense) benefit(3,180)(17,663)7,656 
Net of tax14,941 92,497 (46,670)
Total reclassifications for the period, net of tax$643 $11,303 $(60,580)