← V F CORP
| Annual Trend | FY 2016 | FY 2017 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | FY 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income From Continuing Operations | — | — | — | — | — | — | $755.7m | ($1.0b) | $69.3m | $254.9m | |
| Net Income (Loss) Attributable to Parent | $1.1b | $614.9m | $1.3b | $679.4m | $407.9m | $1.4b | $118.6m | ($968.9m) | ($189.7m) | $254.9m | |
| Income (loss) from discontinued operations, net of tax | — | $346.9m | $389.4m | $50.3m | $53.0m | $170.7m | $0 | $0 | ($259.0m) | $0 | |
| Income (loss) from continuing operations, net of tax | — | $268.1m | $870.4m | $629.1m | $354.9m | $1.2b | $118.6m | ($968.9m) | $69.3m | $254.9m | |
| Cash provided (used) by investing activities - continuing operations | ($322.8m) | ($736.8m) | ($177.4m) | ($285.3m) | ($2.9b) | $904.3m | ($188.1m) | ($172.3m) | $1.4b | $407.1m | |
| Cash used by investing activities - discontinued operations | — | ($39.4m) | ($43.3m) | ($16.7m) | ($3.6m) | ($525k) | $0 | $0 | ($4.4m) | $0 | |
| Current and other assets of discontinued operations | — | $131.9m | $140.8m | $39.8m | — | — | $15.6m | $18.4m | $0 | $0 | |
| Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent | $1.2b | $721.2m | $1.3b | $629.1m | $354.9m | $1.2b | $118.6m | ($968.9m) | $69.3m | $254.9m | |
| Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent | ($98.4m) | ($106.3m) | $788k | $50.3m | $53.0m | $170.7m | $0 | $0 | ($259.0m) | $0 | |
| Depreciation and amortization | $281.6m | $290.5m | $301.0m | $267.6m | $269.1m | $266.9m | $262.3m | $319.2m | $259.6m | $280.5m | |
| Amortization of Intangible Assets | $28.4m | $20.0m | $30.7m | $18.7m | $17.5m | $15.6m | $14.1m | $13.8m | $13.2m | $11.4m | |
| Depreciation Amortization Depletion | — | — | — | — | — | — | $251.9m | $307.5m | $259.6m | $280.5m | |
| Depreciation, amortization and other asset write-downs | $272.1m | $290.5m | $301.0m | $267.6m | $269.1m | $266.9m | $262.3m | $319.2m | $259.6m | $280.5m | |
| Deferred Income Tax Expense (Benefit) | $14.6m | — | ($62.9m) | ($74.5m) | ($39.8m) | ($157.5m) | ($53.6m) | ($395.1m) | ($88.5m) | ($42.2m) | |
| Deferred Income Tax | — | — | — | — | — | — | $12.4m | ($383.9m) | ($88.5m) | ($42.2m) | |
| Deferred Tax | — | — | — | — | — | — | $12.4m | ($383.9m) | ($88.5m) | ($42.2m) | |
| Deferred income taxes | $7.1m | ($79.8m) | ($62.9m) | ($74.5m) | ($39.8m) | ($157.5m) | ($53.6m) | ($395.1m) | ($88.5m) | ($42.2m) | |
| Share-based Payment Arrangement, Noncash Expense | $67.8m | $81.6m | $105.2m | $68.2m | $70.8m | $91.4m | $60.4m | $67.3m | $73.2m | $77.0m | |
| Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount | — | — | — | — | — | — | — | — | $15.6m | $0 | |
| Goodwill and Intangible Asset Impairment | $79.6m | $0 | $0 | $323.2m | $20.4m | $0 | $735.0m | $507.6m | $89.2m | $30.7m | |
| Goodwill, Impairment Loss | $39.3m | $0 | $0 | $323.2m | $0 | $0 | $394.1m | $507.6m | $38.2m | $30.7m | |
| Impairment of Intangible Assets, Finite-lived | — | — | $0 | — | $8.0m | $0 | — | — | $89.2m | $30.7m | |
| Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | — | $0 | $0 | $0 | $20.4m | $0 | — | $0 | — | $0 | |
| Restructuring Costs and Asset Impairment Charges | $58.1m | $27.0m | $107.6m | $31.8m | $119.0m | $20.0m | $75.7m | $110.7m | — | — | |
| Asset Impairment Charge | — | — | — | — | — | — | $0 | $1.4b | $89.2m | $30.7m | |
| Impairment of goodwill and intangible assets | $143.6m | $104.7m | $0 | $323.2m | $20.4m | $0 | $735.0m | $507.6m | $89.2m | $30.7m | |
| Gain (Loss) on Disposition of Business | ($104.4m) | ($29.8m) | ($28.3m) | $0 | $0 | — | — | — | — | $127.2m | |
| Gain (Loss) on Extinguishment of Debt | — | — | — | ($59.8m) | $0 | ($3.6m) | $0 | $0 | — | — | |
| Income Tax Expense (Benefit) | $243.1m | $695.3m | $268.4m | $98.1m | $101.6m | $307.0m | ($75.3m) | $735.2m | $75.8m | $86.3m | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | $174.1m | $166.8m | |
| Other Nonoperating Income (Expense) | $2.0m | ($715k) | ($63.0m) | ($68.7m) | ($24.7m) | $26.2m | ($119.8m) | $23.8m | ($9.4m) | ($86.6m) | |
| Operating lease right-of-use assets and liabilities | — | $0 | $0 | ($388.2m) | ($375.3m) | ($444.1m) | ($380.0m) | ($390.2m) | ($353.7m) | ($350.5m) | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Increase (Decrease) in Accounts Receivable | ($47.1m) | $107.1m | $373.0m | $5.9m | ($70.5m) | $202.5m | $147.3m | ($324.6m) | $100.8m | $166.7m | |
| Increase (Decrease) in Inventories | $37.2m | ($17.0m) | $135.1m | $140.7m | ($314.3m) | $380.9m | $890.2m | ($508.6m) | ($54.1m) | ($173.5m) | |
| Accounts Receivable, Credit Loss Expense (Reversal) | — | $21.2m | $22.6m | $32.9m | $20.7m | ($716k) | $3.5m | $11.2m | $15.4m | $9.5m | |
| Foreign Currency Transaction Gain (Loss), Realized | ($9.2m) | $4.8m | ($15.5m) | $2.9m | $2.6m | ($6.7m) | ($16.9m) | ($16.6m) | ($14.0m) | $4.1m | |
| Goodwill | $1.7b | $1.7b | $1.8b | $1.2b | $2.4b | $2.4b | $2.0b | $1.5b | $603.4m | $587.7m | |
| Inventory Write-down | — | — | $6.6m | $1.1m | $10.7m | $0 | $0 | — | — | — | |
| Investment Income, Interest | $9.1m | $16.1m | $22.6m | $19.9m | $9.2m | $5.0m | $9.8m | $21.6m | $24.9m | $18.0m | |
| Operating Cash Flow | $1.1b | $1.5b | $1.7b | $874.5m | $1.3b | $864.3m | ($655.8m) | $1.0b | $465.2m | $671.3m | |
| Cash Flow From Continuing Operating Activities | $1.1b | $1.0b | $1.2b | $800.4m | $1.2b | $858.2m | ($654.0m) | $884.7m | $438.5m | $671.3m | |
| Beginning Cash Position | — | — | — | — | — | — | $1.3b | $816.3m | $677.0m | $431.5m | |
| Cash Flow From Continuing Financing Activities | — | — | — | — | — | — | $463.9m | ($959.6m) | ($2.1b) | ($737.8m) | |
| Cash Flow From Continuing Investing Activities | — | — | — | — | — | — | ($171.9m) | ($158.7m) | $1.4b | $407.1m | |
| Cash From Discontinued Investing Activities | — | — | — | — | — | — | ($16.2m) | ($13.6m) | ($4.4m) | $0 | |
| Change In Account Payable | — | — | — | — | — | — | $380.8m | ($112.0m) | ($2.3m) | $26.7m | |
| Change In Accrued Expense | — | — | — | — | — | — | ($16.1m) | $27.5m | $48.8m | ($85.7m) | |
| Change In Inventory | — | — | — | — | — | — | ($882.8m) | $521.3m | $54.1m | $173.5m | |
| Change In Other Working Capital | — | — | — | — | — | — | ($1.5b) | ($638.2m) | ($320.6m) | ($437.4m) | |
| Change In Payable | — | — | — | — | — | — | $380.8m | ($112.0m) | ($2.3m) | $26.7m | |
| Change In Payables And Accrued Expense | — | — | — | — | — | — | $364.7m | ($84.5m) | $46.5m | ($59.0m) | |
| Change In Receivables | — | — | — | — | — | — | ($141.7m) | $323.5m | ($100.8m) | ($166.7m) | |
| Change In Working Capital | — | — | — | — | — | — | ($2.1b) | $122.1m | ($320.8m) | ($489.5m) | |
| Changes In Account Receivables | — | — | — | — | — | — | ($141.7m) | $323.5m | ($100.8m) | ($166.7m) | |
| Changes In Cash | — | — | — | — | — | — | ($379.9m) | ($117.3m) | ($252.7m) | $340.6m | |
| End Cash Position | — | — | — | — | — | — | $816.3m | $677.0m | $431.5m | $832.3m | |
| Financing Cash Flow | — | — | — | — | — | — | $463.9m | ($959.6m) | ($2.1b) | ($737.8m) | |
| Free Cash Flow | — | — | — | — | — | — | ($900.9m) | $817.3m | $339.2m | $505.5m | |
| Gain Loss On Sale Of Business | — | — | — | — | — | — | — | $0 | $0 | ($127.2m) | |
| Investing Cash Flow | — | — | — | — | — | — | ($188.1m) | ($172.3m) | $1.4b | $407.1m | |
| Issuance Of Capital Stock | — | — | — | — | — | $36.7m | — | — | — | $699k | |
| Net Business Purchase And Sale | — | — | — | — | — | — | $0 | $0 | $1.5b | $600.5m | |
| Net Intangibles Purchase And Sale | — | — | — | — | — | — | ($93.1m) | ($61.5m) | ($39.7m) | ($51.1m) | |
| Operating Gains Losses | — | — | — | — | — | — | $79.2m | ($18.1m) | ($1.5m) | $186.2m | |
| Other Non Cash Items | — | — | — | — | — | — | $330.5m | $377.6m | $342.5m | $364.2m | |
| Pension And Employee Benefit Expense | — | — | — | — | — | — | $79.2m | ($18.1m) | ($1.5m) | $313.5m | |
| Provisionand Write Offof Assets | — | — | — | — | — | — | $3.5m | $11.2m | $15.4m | $9.5m | |
| Purchase Of Intangibles | — | — | — | — | — | — | ($93.1m) | ($61.5m) | ($39.7m) | ($51.1m) | |
| Repurchase Of Capital Stock | — | — | — | — | — | ($350.0m) | ($2.8m) | ($2.8m) | ($2.7m) | — | |
| Sale Of Business | — | — | — | — | — | — | $0 | $0 | $1.5b | $600.5m | |
| Stock Based Compensation | — | — | — | — | — | — | $40.0m | $57.8m | $73.2m | $77.0m | |
| Reduction in the carrying amount of right-of-use assets | — | $0 | $0 | $392.7m | $427.6m | $410.1m | $383.2m | $394.4m | $352.0m | $354.8m | |
| Stock-based compensation | $73.4m | $81.6m | $105.2m | $68.2m | $70.8m | $91.4m | $60.4m | $67.3m | $73.2m | $77.0m | |
| Provision for doubtful accounts | $12.0m | $21.2m | $22.6m | $32.9m | $20.7m | ($716k) | $3.5m | $11.2m | $15.4m | $9.5m | |
| Pension expense in excess of (less than) contributions | $89.0m | $25.0m | ($1.9m) | ($2.8m) | ($23.4m) | ($41.3m) | $79.2m | ($18.1m) | ($1.5m) | $188.1m | |
| Pension termination asset reversion, net | — | — | — | — | — | — | — | $0 | $0 | $125.4m | |
| Write-off of income tax receivables and interest | — | — | — | — | — | $0 | $0 | $921.4m | $0 | $0 | |
| Gain on sale of business | $104.4m | $29.8m | $28.3m | $0 | $0 | — | — | $0 | $0 | ($127.2m) | |
| Other, net | ($5.0m) | ($15.9m) | ($23.7m) | $48.5m | ($8.6m) | $13.1m | ($26.3m) | $12.1m | ($35.9m) | ($28.5m) | |
| Accounts receivable | ($124.2m) | ($107.1m) | ($373.0m) | ($5.9m) | $70.5m | ($202.5m) | ($147.3m) | $324.6m | ($100.8m) | ($166.7m) | |
| Inventories | ($175.1m) | $17.0m | ($135.1m) | ($140.7m) | $314.3m | ($380.9m) | ($890.2m) | $508.6m | $54.1m | $173.5m | |
| Accounts payable | $14.2m | $21.5m | $111.7m | ($73.7m) | $20.1m | $105.4m | $377.4m | ($106.0m) | ($2.3m) | $26.7m | |
| Income taxes | ($52.7m) | $460.4m | ($20.0m) | ($61.7m) | ($35.6m) | $201.4m | ($1.1b) | ($154.6m) | $9.4m | ($47.3m) | |
| Accrued liabilities | ($14.5m) | $31.9m | $484.9m | ($327.5m) | $101.1m | $88.2m | ($91.7m) | $33.0m | $48.8m | ($85.7m) | |
| Other assets and liabilities | $2.6m | ($34.9m) | ($24.6m) | $12.4m | $25.5m | ($286.1m) | $47.3m | ($47.1m) | $23.7m | ($39.6m) | |
| Proceeds from sale of businesses, net of cash sold | $116.0m | $215.0m | $430.3m | $0 | $0 | $616.9m | $0 | $0 | $1.5b | $600.5m | |
| Proceeds from sale of assets | — | — | — | — | $11.7m | $32.5m | $99.5m | $26.6m | $88.2m | $868k | |
| Software purchases | ($63.3m) | ($65.2m) | ($56.2m) | ($45.6m) | ($75.5m) | ($82.9m) | ($95.3m) | ($65.2m) | ($39.7m) | ($51.1m) | |
| Cash provided (used) by investing activities | ($112.4m) | ($776.3m) | ($220.6m) | ($302.0m) | ($2.9b) | $903.7m | ($188.1m) | ($172.3m) | $1.4b | $407.1m | |
| Net increase (decrease) in short-term borrowings | $432.3m | $686.5m | ($864.2m) | $576.6m | ($1.2b) | $324.4m | ($324.0m) | $255.1m | ($252.0m) | ($2.3m) | |
| Cash used by financing activities | ($783.3m) | ($1.4b) | ($1.6b) | $309.7m | $1.1b | ($1.3b) | $463.9m | ($959.6m) | ($2.1b) | ($737.8m) | |
| Other current assets | — | $2.5m | $3.6m | $2.0m | — | — | $1.3m | $2.2m | $2.1m | $8.4m | |
| Other assets | — | $844k | $9.9m | $495k | — | — | $9k | $9k | $0 | $0 | |
| Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement | — | — | — | — | — | — | ($91.8m) | — | — | — | |
| Net Cash Provided by (Used in) Operating Activities | $1.5b | $1.5b | $1.7b | $874.5m | $1.3b | $864.3m | ($655.8m) | $1.0b | $465.2m | $671.3m | |
| Cash flows from investing activities: | |||||||||||
| Capital Expenditure | — | — | — | — | — | — | ($245.1m) | ($197.2m) | ($126.0m) | ($165.8m) | |
| Capital Expenditure Reported | — | — | — | — | — | — | ($152.0m) | ($135.8m) | ($86.3m) | ($114.7m) | |
| Capital expenditures | ($254.5m) | ($169.6m) | ($250.6m) | ($288.2m) | ($198.7m) | ($245.4m) | ($165.9m) | ($145.8m) | ($86.3m) | ($114.7m) | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | $740.5m | $320.4m | $0 | $2.0b | ($3.8m) | $0 | $0 | — | — | |
| Net Investment Purchase And Sale | — | — | — | — | — | $598.8m | $0 | $0 | — | — | |
| Purchase Of Investment | — | — | — | — | — | $0 | $0 | — | — | — | |
| Sale Of Investment | — | — | — | — | — | $598.8m | $0 | $0 | — | — | |
| Payments for (Proceeds from) Other Investing Activities | $8.3m | $15.9m | $23.7m | ($48.5m) | $8.6m | ($13.1m) | $26.3m | ($12.1m) | $35.9m | $28.5m | |
| Net Other Investing Changes | — | — | — | — | — | — | $73.2m | $38.6m | $52.3m | ($27.6m) | |
| Net Cash Provided by (Used in) Investing Activities | ($112.4m) | ($776.3m) | ($220.6m) | ($302.0m) | ($2.9b) | $903.7m | ($188.1m) | ($172.3m) | $1.4b | $407.1m | |
| Cash flows from financing activities: | |||||||||||
| Proceeds from Issuance of Long-term Debt | $951.8m | $0 | $0 | $1.1b | $3.0b | $0 | $2.1b | $0 | $0 | — | |
| Issuance Of Debt | — | — | — | — | — | $0 | $2.1b | $0 | $0 | — | |
| Long Term Debt Issuance | — | — | — | — | — | $0 | $2.1b | $0 | $0 | — | |
| Net Issuance Payments Of Debt | — | — | — | — | — | — | $1.2b | ($653.1m) | ($2.0b) | ($585.1m) | |
| Net Long Term Debt Issuance | — | — | — | — | — | — | $1.6b | ($908.2m) | ($1.8b) | ($582.8m) | |
| Net Short Term Debt Issuance | — | — | — | — | — | — | ($324.0m) | $255.1m | ($252.0m) | ($2.3m) | |
| Payment of debt issuance costs | ($1.5m) | $0 | ($2.1m) | ($7.3m) | ($21.4m) | ($2.5m) | ($6.8m) | ($576k) | $0 | ($12.6m) | |
| Repayments of Long-term Debt | $13.3m | $254.3m | $6.3m | $649.1m | $1.7m | $504.2m | $501.1m | $908.2m | $1.8b | $582.8m | |
| Long Term Debt Payments | — | — | — | — | — | — | ($501.1m) | ($908.2m) | ($1.8b) | ($582.8m) | |
| Repayment Of Debt | — | — | — | — | — | — | ($501.1m) | ($908.2m) | ($1.8b) | ($582.8m) | |
| Payments on long-term debt | ($4.0m) | ($254.3m) | ($6.3m) | ($649.1m) | ($1.7m) | ($504.2m) | ($501.1m) | ($908.2m) | ($1.8b) | ($582.8m) | |
| Common Stock Issuance | — | — | — | — | — | $36.7m | — | — | — | $699k | |
| Net Common Stock Issuance | — | — | — | — | — | — | ($2.8m) | ($2.8m) | ($2.7m) | $699k | |
| Proceeds from issuance of Common Stock, net of (payments) for tax withholdings | $30.9m | $89.9m | $199.3m | $155.4m | $54.4m | $36.7m | ($2.8m) | ($2.8m) | ($2.7m) | $699k | |
| Payments for Repurchase of Common Stock | $1.0b | $1.2b | $150.7m | $1.0b | $0 | $350.0m | $0 | $0 | $2.7m | $699k | |
| Payments of Ordinary Dividends, Common Stock | $636.0m | $684.7m | $767.1m | $748.7m | $756.8m | $773.2m | $702.8m | $303.1m | $140.2m | $140.7m | |
| Common Stock Payments | — | — | — | — | — | ($350.0m) | ($2.8m) | ($2.8m) | ($2.7m) | — | |
| Payments of Dividends | $636.0m | $684.7m | $767.1m | $748.7m | $756.8m | $773.2m | $702.8m | $303.1m | $140.2m | $140.7m | |
| Cash Dividends Paid | — | — | — | — | — | — | ($702.8m) | ($303.1m) | ($140.2m) | ($140.7m) | |
| Common Stock Dividend Paid | — | — | — | — | — | — | ($702.8m) | ($303.1m) | ($140.2m) | ($140.7m) | |
| Cash dividends paid | ($565) | ($685) | ($767) | ($749) | ($757) | ($773) | ($703) | ($303) | ($140) | ($141) | |
| Net Other Financing Charges | — | — | — | — | — | ($2.5m) | ($63.8m) | ($576k) | — | ($12.6m) | |
| Net Cash Provided by (Used in) Financing Activities | ($1.1b) | ($1.4b) | ($1.6b) | $309.7m | $1.1b | ($1.3b) | $463.9m | ($959.6m) | ($2.1b) | ($737.8m) | |
| Effect Of Exchange Rate Changes | — | — | — | — | — | — | ($80.8m) | ($22.1m) | $7.2m | $60.3m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | ($6.6m) | ($661.6m) | ($132.6m) | $854.7m | ($560.1m) | $425.9m | ($460.8m) | ($139.4m) | ($245.5m) | $400.9m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | ($6.6m) | $569.4m | $556.6m | $1.4b | ($30.6m) | ($73.3m) | ($80.8m) | $677.0m | $431.5m | $832.3m | |
| Effect of foreign currency rate changes on cash, cash equivalents and restricted cash | ($6.6m) | $3.0m | $14.8m | ($27.5m) | ($30.6m) | ($73.3m) | ($80.8m) | ($22.1m) | $7.2m | $60.3m | |
| Net change in cash, cash equivalents and restricted cash | $284.6m | ($661.6m) | ($132.6m) | $854.7m | ($560.1m) | $425.9m | ($460.8m) | ($139.4m) | ($245.5m) | $400.9m | |
| Cash, cash equivalents and restricted cash — beginning of year | $1.2b | $569.4m | $556.6m | $1.4b | — | $1.3b | $816.3m | $677.0m | $431.5m | $832.3m | |
| Cash and cash equivalents | $945.6m | $434.2m | $402.2m | $1.4b | — | — | $799.4m | $656.4m | $429.4m | $823.9m | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Change In Cash Supplemental As Reported | — | — | — | — | — | — | ($460.8m) | ($139.4m) | ($245.5m) | $400.9m | |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | — | — | — | — | — | $123.5m | $160.3m | $234.4m | $162.9m | $145.1m | |
| Income Taxes Paid, Net | — | — | — | — | — | $263.7m | $1.1b | $350.0m | $162.6m | $171.8m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.