2019 Q1 Form 10-K Financial Statement

#000010337919000006 Filed on May 24, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q1 2017 Q4
Revenue $2.357B $2.182B $3.649B
YoY Change 8.06% -12.75% 20.14%
Cost Of Revenue $640.9M $1.009B $1.770B
YoY Change -36.46% -18.91% 4.53%
Gross Profit $1.042B $1.173B $1.879B
YoY Change -11.18% -6.65% 39.79%
Gross Profit Margin 44.19% 53.76% 51.5%
Selling, General & Admin $1.031B $1.025B $1.395B
YoY Change 0.5% 6.02% 35.9%
% of Gross Profit 98.92% 87.42% 74.22%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $109.0M $71.50M $82.90M
YoY Change 52.45% 7.68% 21.91%
% of Gross Profit 10.46% 6.1% 4.41%
Operating Expenses $1.030B $1.025B $1.395B
YoY Change 0.49% 6.02% 35.9%
Operating Profit $126.4M $147.6M $484.6M
YoY Change -14.36% -49.01% 71.59%
Interest Expense -$15.80M $24.12M -$23.60M
YoY Change -165.52% -218.21% 1.72%
% of Operating Profit -12.5% 16.34% -4.87%
Other Income/Expense, Net -$6.700M $6.346M -$1.902M
YoY Change -205.58% 1486.5% 73.38%
Pretax Income -$11.30M $131.3M $460.2M
YoY Change -108.61% -51.26% -21.28%
Income Tax -$9.000M $2.341M $533.1M
% Of Pretax Income 1.78% 115.86%
Net Earnings $128.8M $252.8M -$90.27M
YoY Change -49.05% 20.84% -134.15%
Net Earnings / Revenue 5.46% 11.59% -2.47%
Basic Earnings Per Share $0.33 $0.64 -$0.23
Diluted Earnings Per Share $0.32 $0.63 -$0.23
COMMON SHARES
Basic Shares Outstanding 395.6M shares 395.3M shares 394.6M shares
Diluted Shares Outstanding 401.3M shares 400.4M shares

Balance Sheet

Concept 2019 Q1 2018 Q1 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $445.0M $681.0M $563.0M
YoY Change -34.65% 12.94% -23.71%
Cash & Equivalents $402.2M $523.3M $434.2M
Short-Term Investments
Other Short-Term Assets $425.6M $359.0M $297.0M
YoY Change 18.57% -45.11% 1.05%
Inventory $1.173B $1.861B $1.707B
Prepaid Expenses
Receivables $1.373B $1.409B $1.430B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $4.673B $4.683B $4.378B
YoY Change -0.21% 14.45% 1.97%
LONG-TERM ASSETS
Property, Plant & Equipment $876.1M $1.012B $1.015B
YoY Change -13.4% 12.78% 13.25%
Goodwill $1.492B $1.423B $1.693B
YoY Change 4.8% 8.88%
Intangibles $3.675B $3.977B $2.090B
YoY Change -7.57% -32.49%
Long-Term Investments
YoY Change
Other Assets $768.5M $803.0M $783.7M
YoY Change -4.3% -29.93% -15.03%
Total Long-Term Assets $5.683B $5.628B $5.581B
YoY Change 0.98% 9.2% 2.47%
TOTAL ASSETS
Total Short-Term Assets $4.673B $4.683B $4.378B
Total Long-Term Assets $5.683B $5.628B $5.581B
Total Assets $10.36B $10.31B $9.959B
YoY Change 0.44% 11.52% 2.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $489.6M $583.0M $761.0M
YoY Change -16.02% 36.86% 22.7%
Accrued Expenses $1.125B $938.4M $1.147B
YoY Change 19.91% 17.16% 41.19%
Deferred Revenue
YoY Change
Short-Term Debt $659.1M $1.525B $729.4M
YoY Change -56.79% 427.72% 2702.2%
Long-Term Debt Due $0.00 $6.000M $0.00
YoY Change -100.0% -97.64% -100.0%
Total Short-Term Liabilities $2.662B $3.139B $2.744B
YoY Change -15.2% 70.96% 53.7%
LONG-TERM LIABILITIES
Long-Term Debt $2.087B $2.213B $2.152B
YoY Change -5.69% 7.9% 6.27%
Other Long-Term Liabilities $1.235B $1.272B $1.307B
YoY Change -2.91% 28.99% 47.51%
Total Long-Term Liabilities $3.322B $1.272B $3.459B
YoY Change 161.19% -58.12% 18.82%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.662B $3.139B $2.744B
Total Long-Term Liabilities $3.322B $1.272B $3.459B
Total Liabilities $6.058B $6.623B $6.239B
YoY Change -8.53% 35.92% 30.02%
SHAREHOLDERS EQUITY
Retained Earnings $1.180B $846.1M $1.024B
YoY Change 39.41% -59.78%
Common Stock $4.021B $3.706B $3.622B
YoY Change 8.5% 5.39%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 0.000 shares 0.000 shares 0.000 shares
Shareholders Equity $4.299B $3.688B $3.720B
YoY Change
Total Liabilities & Shareholders Equity $10.36B $10.31B $9.959B
YoY Change 0.44% 11.52% 2.25%

Cashflow Statement

Concept 2019 Q1 2018 Q1 2017 Q4
OPERATING ACTIVITIES
Net Income $128.8M $252.8M -$90.27M
YoY Change -49.05% 20.84% -134.15%
Depreciation, Depletion And Amortization $109.0M $71.50M $82.90M
YoY Change 52.45% 7.68% 21.91%
Cash From Operating Activities $227.5M -$243.2M $1.468B
YoY Change -193.54% 15.71% 4697.39%
INVESTING ACTIVITIES
Capital Expenditures -$84.00M -$73.70M -$56.90M
YoY Change 13.98% 19.84% -7.93%
Acquisitions $0.00
YoY Change
Other Investing Activities $12.00M -$17.92M -$744.4M
YoY Change -166.98% 163.47% -762.87%
Cash From Investing Activities -$72.10M -$55.99M -$801.4M
YoY Change 28.77% -18.02% -1686.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $250.3M
YoY Change
Debt Paid & Issued, Net $1.484M
YoY Change
Cash From Financing Activities -153.3M $406.8M -1.664B
YoY Change -137.69% -217.4% 12605.34%
NET CHANGE
Cash From Operating Activities 227.5M -$243.2M 1.468B
Cash From Investing Activities -72.10M -$55.99M -801.4M
Cash From Financing Activities -153.3M $406.8M -1.664B
Net Change In Cash 2.100M $119.8M -997.8M
YoY Change -98.25% -119.17% -1567.35%
FREE CASH FLOW
Cash From Operating Activities $227.5M -$243.2M $1.468B
Capital Expenditures -$84.00M -$73.70M -$56.90M
Free Cash Flow $311.5M -$169.5M $1.525B
YoY Change -283.75% 14.0% 1550.32%

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ProductWarrantyAccrual
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CY2016 us-gaap Restructuring Costs And Asset Impairment Charges
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CY2017 us-gaap Revenues
Revenues
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Revenues
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P3Y
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0.028
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0.029
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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0.026
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0.29
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
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0.3
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0.29
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
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0.29
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
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0.21
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
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0.23
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0.24
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
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0.22
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0.017
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
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0.024
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0.029
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
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0.032
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0.004
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0.007
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0.019
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0.021
CY2016 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
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0.24
CY2017 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.24
CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
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0.25
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
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0.25
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ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
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58.60
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86600000 USD
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106700000 USD
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57300000 USD
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117782 shares
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ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
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66.36
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101197 shares
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1764000 USD
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171532000 USD
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12.08
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9.90
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15.34
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16.82
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265734000 USD
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CY2018Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
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52.03
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56.15
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60.11
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38.94
CY2019 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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46.86
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74.80
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ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
81.01
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P10Y
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220251000 USD
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P6Y2M12D
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P6Y8M12D
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26700000 USD
CY2017 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
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28000000 USD
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28300000 USD
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
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26800000 USD
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665055000 USD
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28500000 USD
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-308000 USD
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283000 USD
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17200000 USD
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19000 USD
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0 shares
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23000 USD
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38000 USD
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204000 USD
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6937000 USD
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1103000 USD
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0 USD
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7673000 USD
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16320000 USD
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9943000 USD
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37000 USD
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169041000 USD
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22900000 USD
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35300000 USD
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219100000 USD
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191200000 USD
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182100000 USD
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258500000 USD
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46281000 USD
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416100000 USD
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15600000 USD
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13600000 USD
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15300000 USD
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47500000 USD
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43700000 USD
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152000000 USD
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8000000 USD
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248560000 USD
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13591000 USD
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27023000 USD
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0.88
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254216000 USD
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277145000 USD
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70920000 USD
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301005000 USD
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20771000 USD
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26741000 USD
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83582000 USD
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2199000 USD
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4659000 USD
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9189000 USD
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96087000 USD
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18590000 USD
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10087000 USD
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3747000 USD
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2592000 USD
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2330000 USD
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0 USD
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25600000 USD
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1800000 USD
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3100000 USD
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8800000 USD
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8300000 USD
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13100000 USD
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108000000 USD
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7400000 USD
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11700000 USD
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12100000 USD
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16300000 USD
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18800000 USD
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79644000 USD
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104651000 USD
CY2018Q1 vfc Goodwilland Intangible Asset Impairment Including Discontinued Operations
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0 USD
CY2019 vfc Goodwilland Intangible Asset Impairment Including Discontinued Operations
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0 USD
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0 USD
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367500000 USD
CY2018Q1 vfc Maximum Amount Of Accounts Receivable Sold At Any Point In Time
MaximumAmountOfAccountsReceivableSoldAtAnyPointInTime
367500000 USD
CY2018Q3 vfc Maximum Amount Of Accounts Receivable Sold At Any Point In Time
MaximumAmountOfAccountsReceivableSoldAtAnyPointInTime
377500000 USD
CY2019Q1 vfc Notes Other And Capital Lease Future Minimum Payments Due Thereafter
NotesOtherAndCapitalLeaseFutureMinimumPaymentsDueThereafter
673495000 USD
CY2019Q1 vfc Notes Other And Capital Leases Due In Five Years
NotesOtherAndCapitalLeasesDueInFiveYears
955476000 USD
CY2019Q1 vfc Notes Other And Capital Leases Due In Four Years
NotesOtherAndCapitalLeasesDueInFourYears
1614000 USD
CY2019Q1 vfc Notes Other And Capital Leases Due In One Year
NotesOtherAndCapitalLeasesDueInOneYear
6293000 USD
CY2019Q1 vfc Notes Other And Capital Leases Due In Three Years
NotesOtherAndCapitalLeasesDueInThreeYears
502287000 USD
CY2019Q1 vfc Notes Other And Capital Leases Due In Two Years
NotesOtherAndCapitalLeasesDueInTwoYears
6040000 USD
CY2019Q1 vfc Notes Other And Capital Leases Future Minimum Payments Due
NotesOtherAndCapitalLeasesFutureMinimumPaymentsDue
2145205000 USD
CY2019 vfc Repurchase Price Percentage
RepurchasePricePercentage
1.00
CY2016Q4 vfc Restricted Cash And Restricted Cash Equivalents Included In Other Assets Current
RestrictedCashAndRestrictedCashEquivalentsIncludedInOtherAssetsCurrent
2469000 USD
CY2019Q1 vfc Notes Other And Capital Leases Future Minimum Payments Interest Included In Payments
NotesOtherAndCapitalLeasesFutureMinimumPaymentsInterestIncludedInPayments
7288000 USD
CY2019 vfc Number Of Largest Customers Accounted For Portion Of Revenue
NumberOfLargestCustomersAccountedForPortionOfRevenue
10 Customer
CY2017 vfc Sale Of Accounts Receivable Program Fee
SaleOfAccountsReceivableProgramFee
3900000 USD
CY2018Q1 vfc Sale Of Accounts Receivable Program Fee
SaleOfAccountsReceivableProgramFee
1100000 USD
CY2019 vfc Number Of Periods Amortized
NumberOfPeriodsAmortized
P5Y
CY2019 vfc Sale Of Accounts Receivable Program Fee
SaleOfAccountsReceivableProgramFee
5800000 USD
CY2018Q1 vfc Tax Cuts And Jobs Act Of2017 Income Tax Expense Benefit
TaxCutsAndJobsActOf2017IncomeTaxExpenseBenefit
-5100000 USD
CY2019 vfc Other Adjustments Net
OtherAdjustmentsNet
59609000 USD
CY2016 vfc Other Comprehensive Income Loss Defined Benefit Plan Curtailment Gain Lossbefore Tax
OtherComprehensiveIncomeLossDefinedBenefitPlanCurtailmentGainLossbeforeTax
0 USD
CY2017 vfc Other Comprehensive Income Loss Defined Benefit Plan Curtailment Gain Lossbefore Tax
OtherComprehensiveIncomeLossDefinedBenefitPlanCurtailmentGainLossbeforeTax
1671000 USD
CY2018Q1 vfc Other Comprehensive Income Loss Defined Benefit Plan Curtailment Gain Lossbefore Tax
OtherComprehensiveIncomeLossDefinedBenefitPlanCurtailmentGainLossbeforeTax
0 USD
CY2019 vfc Other Comprehensive Income Loss Defined Benefit Plan Curtailment Gain Lossbefore Tax
OtherComprehensiveIncomeLossDefinedBenefitPlanCurtailmentGainLossbeforeTax
9530000 USD
CY2016 vfc Other Comprehensive Income Loss Defined Benefit Plan Settlement Gain Lossbefore Tax
OtherComprehensiveIncomeLossDefinedBenefitPlanSettlementGainLossbeforeTax
50922000 USD
CY2017 vfc Other Comprehensive Income Loss Defined Benefit Plan Settlement Gain Lossbefore Tax
OtherComprehensiveIncomeLossDefinedBenefitPlanSettlementGainLossbeforeTax
0 USD
CY2018Q1 vfc Other Comprehensive Income Loss Defined Benefit Plan Settlement Gain Lossbefore Tax
OtherComprehensiveIncomeLossDefinedBenefitPlanSettlementGainLossbeforeTax
0 USD
CY2019 vfc Other Comprehensive Income Loss Defined Benefit Plan Settlement Gain Lossbefore Tax
OtherComprehensiveIncomeLossDefinedBenefitPlanSettlementGainLossbeforeTax
8856000 USD
CY2017Q4 vfc Partnership Stores And Shop In Shop Costs Accumulated Amortization
PartnershipStoresAndShopInShopCostsAccumulatedAmortization
118643000 USD
CY2018Q1 vfc Partnership Stores And Shop In Shop Costs Accumulated Amortization
PartnershipStoresAndShopInShopCostsAccumulatedAmortization
123812000 USD
CY2019Q1 vfc Partnership Stores And Shop In Shop Costs Accumulated Amortization
PartnershipStoresAndShopInShopCostsAccumulatedAmortization
100125000 USD
CY2017Q4 vfc Partnership Stores And Shop In Shop Costs Net
PartnershipStoresAndShopInShopCostsNet
34149000 USD
CY2018Q1 vfc Partnership Stores And Shop In Shop Costs Net
PartnershipStoresAndShopInShopCostsNet
33161000 USD
CY2019Q1 vfc Partnership Stores And Shop In Shop Costs Net
PartnershipStoresAndShopInShopCostsNet
31655000 USD
CY2016 vfc Payments Related To Tax Withholding For Sharebased Compensation And Proceeds From Issuance Of Shares Under Incentive And Sharebased Compensation Plans Including Stock Options
PaymentsRelatedToTaxWithholdingForSharebasedCompensationAndProceedsFromIssuanceOfSharesUnderIncentiveAndSharebasedCompensationPlansIncludingStockOptions
48918000 USD
CY2017 vfc Payments Related To Tax Withholding For Sharebased Compensation And Proceeds From Issuance Of Shares Under Incentive And Sharebased Compensation Plans Including Stock Options
PaymentsRelatedToTaxWithholdingForSharebasedCompensationAndProceedsFromIssuanceOfSharesUnderIncentiveAndSharebasedCompensationPlansIncludingStockOptions
89893000 USD
CY2018Q1 vfc Payments Related To Tax Withholding For Sharebased Compensation And Proceeds From Issuance Of Shares Under Incentive And Sharebased Compensation Plans Including Stock Options
PaymentsRelatedToTaxWithholdingForSharebasedCompensationAndProceedsFromIssuanceOfSharesUnderIncentiveAndSharebasedCompensationPlansIncludingStockOptions
44017000 USD
CY2019 vfc Payments Related To Tax Withholding For Sharebased Compensation And Proceeds From Issuance Of Shares Under Incentive And Sharebased Compensation Plans Including Stock Options
PaymentsRelatedToTaxWithholdingForSharebasedCompensationAndProceedsFromIssuanceOfSharesUnderIncentiveAndSharebasedCompensationPlansIncludingStockOptions
199296000 USD
CY2016 vfc Pension Expense And Pension Contributions
PensionExpenseAndPensionContributions
89005000 USD
CY2017 vfc Pension Expense And Pension Contributions
PensionExpenseAndPensionContributions
25022000 USD
CY2018Q1 vfc Pension Expense And Pension Contributions
PensionExpenseAndPensionContributions
1413000 USD
CY2019 vfc Pension Expense And Pension Contributions
PensionExpenseAndPensionContributions
-1850000 USD
CY2019Q1 vfc Percentage Of Domestic Defined Benefit Pension Plan Assets To Defined Benefit Pension Plan Assets
PercentageOfDomesticDefinedBenefitPensionPlanAssetsToDefinedBenefitPensionPlanAssets
0.91
CY2019 vfc Plan Assets Or Projected Benefit Obligations Unamortized Maximum
PlanAssetsOrProjectedBenefitObligationsUnamortizedMaximum
0.10
CY2019 vfc Portion Of Foreign Operating Loss Carry Forwards With Unlimited Carry Forward Life
PortionOfForeignOperatingLossCarryForwardsWithUnlimitedCarryForwardLife
171300000 USD
CY2019 vfc Project Benefit Obligations Amortized Over Five Years Minimum
ProjectBenefitObligationsAmortizedOverFiveYearsMinimum
0.20
CY2019 vfc Projected Benefit Obligations Amortized Over Expected Average Remaining Service Of Active Participants Maximum
ProjectedBenefitObligationsAmortizedOverExpectedAverageRemainingServiceOfActiveParticipantsMaximum
0.20
CY2019 vfc Projected Benefit Obligations Amortized Over Expected Average Remaining Service Of Active Participants Minimum
ProjectedBenefitObligationsAmortizedOverExpectedAverageRemainingServiceOfActiveParticipantsMinimum
0.1
CY2019 vfc Projected Benefit Obligations Amortized Over Expected Average Remaining Service Of Active Participants Minimum
ProjectedBenefitObligationsAmortizedOverExpectedAverageRemainingServiceOfActiveParticipantsMinimum
0.10
CY2019Q1 vfc Purchase Obligation Duein Fifth Yearand Thereafter
PurchaseObligationDueinFifthYearandThereafter
0 USD
CY2019 vfc Ratio Of Consolidated Indebtedness To Consolidated Capitalization Maximum
RatioOfConsolidatedIndebtednessToConsolidatedCapitalizationMaximum
0.60
CY2017Q4 vfc Restricted Cash And Restricted Cash Equivalents Included In Other Assets Current
RestrictedCashAndRestrictedCashEquivalentsIncludedInOtherAssetsCurrent
2452000 USD
CY2018Q1 vfc Restricted Cash And Restricted Cash Equivalents Included In Other Assets Current
RestrictedCashAndRestrictedCashEquivalentsIncludedInOtherAssetsCurrent
3804000 USD
CY2019Q1 vfc Restricted Cash And Restricted Cash Equivalents Included In Other Assets Current
RestrictedCashAndRestrictedCashEquivalentsIncludedInOtherAssetsCurrent
3645000 USD
CY2016Q4 vfc Restricted Cash And Restricted Cash Equivalents Included In Other Assets Noncurrent
RestrictedCashAndRestrictedCashEquivalentsIncludedInOtherAssetsNoncurrent
695000 USD
CY2017Q4 vfc Restricted Cash And Restricted Cash Equivalents Included In Other Assets Noncurrent
RestrictedCashAndRestrictedCashEquivalentsIncludedInOtherAssetsNoncurrent
870000 USD
CY2018Q1 vfc Restricted Cash And Restricted Cash Equivalents Included In Other Assets Noncurrent
RestrictedCashAndRestrictedCashEquivalentsIncludedInOtherAssetsNoncurrent
2294000 USD
CY2019Q1 vfc Restricted Cash And Restricted Cash Equivalents Included In Other Assets Noncurrent
RestrictedCashAndRestrictedCashEquivalentsIncludedInOtherAssetsNoncurrent
9931000 USD
CY2016 vfc Sale Of Accounts Receivable Program Fee
SaleOfAccountsReceivableProgramFee
3400000 USD
CY2019 vfc Tax Cuts And Jobs Act Of2017 Income Tax Expense Benefit
TaxCutsAndJobsActOf2017IncomeTaxExpenseBenefit
-23300000 USD
CY2019 vfc Tax Cuts And Jobs Act Of2017 Incomplete Accounting Provisional Income Tax Expense Benefit
TaxCutsAndJobsActOf2017IncompleteAccountingProvisionalIncomeTaxExpenseBenefit
483700000 USD
CY2018 vfc Tax Cuts And Jobs Act Of2017 Measurement Period Adjustment Change In Tax Rate Deferred Tax Liability Foreign Income And Dividends
TaxCutsAndJobsActOf2017MeasurementPeriodAdjustmentChangeInTaxRateDeferredTaxLiabilityForeignIncomeAndDividends
4200000 USD
CY2018 vfc Tax Cuts And Jobs Act Of2017 Measurement Period Adjustment Change In Tax Rate Deferred Tax Liability Provisional Income Tax Benefit
TaxCutsAndJobsActOf2017MeasurementPeriodAdjustmentChangeInTaxRateDeferredTaxLiabilityProvisionalIncomeTaxBenefit
300000 USD
CY2019Q1 vfc Tax Cuts And Jobs Act Of2017 Measurement Period Adjustment Change In Tax Rate Deferred Tax Liability Provisional Income Tax Benefit
TaxCutsAndJobsActOf2017MeasurementPeriodAdjustmentChangeInTaxRateDeferredTaxLiabilityProvisionalIncomeTaxBenefit
6800000 USD
CY2018 vfc Tax Cuts And Jobs Act Of2017 Measurement Period Adjustment Income Tax Expense Benefit
TaxCutsAndJobsActOf2017MeasurementPeriodAdjustmentIncomeTaxExpenseBenefit
18200000 USD
CY2019Q1 vfc Tax Cuts And Jobs Act Of2017 Measurement Period Adjustment Income Tax Expense Benefit
TaxCutsAndJobsActOf2017MeasurementPeriodAdjustmentIncomeTaxExpenseBenefit
13900000 USD
CY2018 vfc Tax Cuts And Jobs Act Of2017 Measurement Period Adjustment Transition Tax For Accumulated Foreign Earnings Provisional Income Tax Expense
TaxCutsAndJobsActOf2017MeasurementPeriodAdjustmentTransitionTaxForAccumulatedForeignEarningsProvisionalIncomeTaxExpense
14300000 USD
CY2019Q1 vfc Tax Cuts And Jobs Act Of2017 Measurement Period Adjustment Transition Tax For Accumulated Foreign Earnings Provisional Income Tax Expense
TaxCutsAndJobsActOf2017MeasurementPeriodAdjustmentTransitionTaxForAccumulatedForeignEarningsProvisionalIncomeTaxExpense
20700000 USD
CY2016 vfc Treasury Stock Shares Restored
TreasuryStockSharesRestored
16055057 shares
CY2017 vfc Treasury Stock Shares Restored
TreasuryStockSharesRestored
22335314 shares
CY2018Q1 vfc Treasury Stock Shares Restored
TreasuryStockSharesRestored
3361101 shares
CY2019 vfc Treasury Stock Shares Restored
TreasuryStockSharesRestored
2153719 shares
CY2019 vfc Valuation Allowance Deferred Tax Asset And Foreign Carryforwards Change In Amount
ValuationAllowanceDeferredTaxAssetAndForeignCarryforwardsChangeInAmount
-17100000 USD
CY2019 vfc Valuation Allowance State Carryforwards Change In Amount
ValuationAllowanceStateCarryforwardsChangeInAmount
1700000 USD
CY2019 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;text-align:justify;font-size:9pt;"><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;font-style:italic;font-weight:bold;">Concentration of Risks</font></div><div style="line-height:120%;padding-top:6px;text-align:justify;font-size:9pt;"><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;">VF markets products to a broad customer base throughout the world. Products are sold at a range of price points through multiple wholesale and direct-to-consumer channels. VF&#8217;s </font><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;">ten</font><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;"> largest customers, all U.S.-based retailers, accounted for </font><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;">19%</font><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;"> of Fiscal </font><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;">2019</font><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;"> total revenues. Sales to VF&#8217;s largest customer accounted for </font><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;">8%</font><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;"> of Fiscal </font><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;">2019</font><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;"> total revenues, the majority of which were derived from the Jeans segment. Sales are generally made on an unsecured basis under customary terms that may vary by product, channel of distribution or geographic region. VF continuously monitors the creditworthiness of its customers and has established internal policies regarding customer credit limits. The breadth of product offerings, combined with the large number and geographic diversity of its customers, limits VF&#8217;s concentration of risks.</font></div></div>
CY2019 us-gaap Fiscal Period
FiscalPeriod
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;text-align:justify;font-size:9pt;"><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;font-style:italic;font-weight:bold;">Fiscal Year</font></div><div style="line-height:120%;padding-top:6px;text-align:justify;font-size:9pt;"><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;">VF operates and reports using a 52/53 week fiscal year ending on the Saturday closest to March&#160;31 of each year. VF previously used a 52/53 week fiscal year ending on the Saturday closest to December 31 of each year. VF's current fiscal year ran from April 1, 2018 through March 30, 2019 ("Fiscal 2019"). All references to the periods ended March </font><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;">2019</font><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;">, December </font><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;">2017</font><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;"> and December </font><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;">2016</font><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;"> relate to the 52-week fiscal years ended </font><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;">March&#160;30, 2019</font><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;">, </font><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;">December&#160;30, 2017</font><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;"> and </font><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;">December&#160;31, 2016</font><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;">, respectively. All references to the period ended March 2018 relate to the 13-week transition period ended March 31, 2018. Certain foreign subsidiaries reported using a December&#160;31 year-end for the years ended December 2017 and December 2016, and using a March 31 year-end for Fiscal 2019 due to local statutory requirements. </font></div></div>
CY2019 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;text-align:justify;font-size:9pt;"><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;font-style:italic;font-weight:bold;">Reclassifications</font></div><div style="line-height:120%;padding-top:6px;text-align:justify;font-size:9pt;"><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;">Certain prior year amounts have been reclassified to conform with the Fiscal </font><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;">2019</font><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;"> presentation, as discussed below in the "Recently Adopted Accounting Standards" section.</font></div></div>
CY2019 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:18px;text-align:justify;font-size:9pt;"><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:6px;text-align:justify;font-size:9pt;"><font style="font-family:DIN-Regular,sans-serif;font-size:9pt;color:#6d6e71;">In preparing the consolidated financial statements in accordance with GAAP, management makes estimates and assumptions that affect amounts reported in the consolidated financial statements and accompanying notes. Actual results may differ from those estimates.</font></div></div>

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