v3.26.1
RETIREMENT AND SAVINGS BENEFIT PLANS (Tables)
 12 Months Ended
Mar. 28, 2026
Retirement Benefits [Abstract]  
Schedule of Components of Pension Cost
The components of pension cost for VF’s defined benefit plans were as follows:
Year Ended March
(In thousands)202620252024
Service cost — benefits earned during the period$10,073 $9,796 $8,924 
Interest cost on projected benefit obligations40,496 46,789 47,079 
Expected return on plan assets(53,399)(61,225)(63,569)
Settlement charges193,199 — 3,538 
Divestiture(718)— — 
Curtailments(1,520)(936)— 
Amortization of deferred amounts:
Net deferred actuarial losses18,236 20,205 16,656 
Deferred prior service credits(339)(589)(541)
Net periodic pension cost $206,028 $14,040 $12,087 
Weighted average actuarial assumptions used to determine pension cost:
Discount rate in effect for determining service cost1.99 %2.05 %2.50 %
Discount rate in effect for determining interest cost4.75 %4.59 %4.85 %
Expected long-term return on plan assets4.03 %5.90 %5.99 %
Rate of compensation increase (a)
2.00 %2.15 %2.19 %
(a)Rate of compensation increase is calculated as the weighted average rate of compensation increase for active plans. Frozen plans are excluded from the calculation.
Schedule of Reconciliation of Changes in Fair Value of Defined Benefit Plan Assets and Projected Benefit Obligations
The following provides a reconciliation of the changes in fair value of VF’s defined benefit plan assets and projected benefit obligations for each period, and the funded status at the end of each period:
(In thousands)March 2026March 2025
Fair value of plan assets, beginning of period$1,077,015 $1,085,242 
Actual return on plan assets44,190 33,976 
VF contributions19,325 15,478 
Participant contributions5,657 5,469 
Settlement(701,053)— 
Benefits paid(58,034)(66,132)
Reversion of plan assets(208,955)— 
Divestiture(1,409)— 
Currency translation11,534 2,982 
Fair value of plan assets, end of period188,270 1,077,015 
Projected benefit obligations, beginning of period982,006 995,357 
Service cost10,073 9,796 
Interest cost40,496 46,789 
Participant contributions5,657 5,469 
Actuarial gain(21,903)(12,184)
Settlement(701,053)— 
Benefits paid (58,034)(66,132)
Plan amendments276 129 
Curtailments(4,745)(781)
Divestiture(2,127)— 
Currency translation 14,889 3,563 
Projected benefit obligations, end of period
265,535 982,006 
Funded status, end of period$(77,265)$95,009 
Pension benefits are reported in the Consolidated Balance Sheets as a net asset or liability based on the overfunded or underfunded status of the defined benefit plans, assessed on a plan-by-plan basis.
(In thousands)March 2026March 2025
Amounts included in Consolidated Balance Sheets:
Other assets (Note 11)
$2,005$179,596 
Accrued liabilities (Note 14)
(6,281)(6,899)
Other liabilities (Note 16)
(72,989)(77,688)
Funded status$(77,265)$95,009 
Accumulated other comprehensive loss, pretax:
Net deferred actuarial losses$28,848$256,027 
Net deferred prior service credits(3,151)(3,666)
Total accumulated other comprehensive loss, pretax$25,697$252,361 
Accumulated benefit obligations$247,149$963,373 
Weighted average actuarial assumptions used to determine pension obligations:
Discount rate3.27 %5.05 %
Rate of compensation increase (a)
1.90 %1.98 %
(a)Rate of compensation increase is calculated as the weighted average rate of compensation increase for active plans. Frozen plans are excluded from the calculation.
Schedule of Components of Pension Plans with an Accumulated Benefit Obligation and Projected Benefit Obligation in Excess of Plan Assets
The following provides information for VF's defined benefit plans with projected benefit obligations and accumulated benefit obligations in excess of plan assets:
(In thousands)March 2026March 2025
Projected benefit obligations$194,044 $190,404 
Accumulated benefit obligations175,647 171,771 
Fair value of plan assets114,774 105,817 
Schedule of Fair Value of Investments Held by Pension Plan
The fair value of investments held by VF’s defined benefit plans at March 2026 and March 2025, by asset class, is summarized below. Refer to Note 24 for a description of the three levels of the fair value measurement hierarchy.
 Total Plan
Assets		Fair Value Measurements
(In thousands)Level 1Level 2Level 3
March 2026
Plan assets
Cash equivalents$5,021 $5,021 $— $— 
Fixed income securities:
U.S. Treasury and government agencies2 — 2 — 
Insurance contracts122,053 — 122,053 — 
Total plan assets in the fair value hierarchy127,076 $5,021 $122,055 $— 
Plan assets measured at net asset value
Cash equivalents14,251 
Equity securities:
International26,471 
Fixed income securities:
Corporate and international bonds13,888 
Alternative investments6,584 
Total plan assets measured at net asset value61,194 
Total plan assets$188,270 
 Total Plan
Assets		Fair Value Measurements
(In thousands)Level 1Level 2Level 3
March 2025
Plan assets
Cash equivalents$16,716 $16,716 $— $— 
Fixed income securities:
U.S. Treasury and government agencies2 — 2 — 
Insurance contracts111,992 — 111,992 — 
Futures contracts1,900 1,900 — — 
Total plan assets in the fair value hierarchy130,610 $18,616 $111,994 $— 
Plan assets measured at net asset value
Cash equivalents121,450 
Equity securities:
Domestic5,109 
International27,324 
Fixed income securities:
Corporate and international bonds784,724 
Alternative investments7,798 
Total plan assets measured at net asset value946,405 
Total plan assets$1,077,015