$VFC
V F CORP

2016 Q2 Form 10-Q Financial Statement

#000119312516585493 Filed on May 10, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2 2015 Q1
Revenue $2.539B $2.750B $3.579B
YoY Change -7.68% 14.47% 28.7%
Cost Of Revenue $1.351B $1.447B $1.824B
YoY Change -6.63% 16.72% 29.65%
Gross Profit $1.188B $1.303B $1.755B
YoY Change -8.85% 12.08% 27.72%
Gross Profit Margin 46.79% 47.39% 49.04%
Selling, General & Admin $971.9M $992.9M $1.177B
YoY Change -2.11% 5.3% 21.23%
% of Gross Profit 81.82% 76.19% 67.07%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $68.00M $65.90M $74.30M
YoY Change 3.19% -1.93% 81.6%
% of Gross Profit 5.72% 5.06% 4.23%
Operating Expenses $971.9M $992.9M $1.177B
YoY Change -2.11% 5.3% 21.23%
Operating Profit $304.7M $391.3M $578.0M
YoY Change -22.13% 78.04% 43.36%
Interest Expense -$19.80M -$20.60M -$15.90M
YoY Change -3.88% -13.45% -21.29%
% of Operating Profit -6.5% -5.26% -2.75%
Other Income/Expense, Net $1.292M $828.0K -$5.500M
YoY Change 56.04% -262.99% 162.91%
Pretax Income $293.1M $378.9M $160.3M
YoY Change -22.66% 32.87% -65.07%
Income Tax $51.13M $90.20M $38.20M
% Of Pretax Income 17.45% 23.81% 23.83%
Net Earnings $260.3M $288.7M $122.1M
YoY Change -9.85% 83.1% -58.92%
Net Earnings / Revenue 10.25% 10.5% 3.41%
Basic Earnings Per Share $0.62 $0.68
Diluted Earnings Per Share $0.61 $0.67 $277.8K
COMMON SHARES
Basic Shares Outstanding 421.7M shares 426.3M shares 427.9M shares
Diluted Shares Outstanding 429.1M shares 434.1M shares

Balance Sheet

Concept 2016 Q2 2015 Q2 2015 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $586.0M $655.0M $972.0M
YoY Change -10.53% 37.61% 201.86%
Cash & Equivalents $585.4M $655.5M $971.9M
Short-Term Investments
Other Short-Term Assets $323.8M $365.2M $300.6M
YoY Change -11.32% -28.38% -22.9%
Inventory $1.614B $1.624B $1.483B
Prepaid Expenses
Receivables $1.222B $1.283B $1.276B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.973B $3.928B $4.032B
YoY Change 1.14% 3.92% 14.06%
LONG-TERM ASSETS
Property, Plant & Equipment $930.1M $911.5M $942.2M
YoY Change 2.05% -1.14% 2.19%
Goodwill $1.775B $1.795B $1.825B
YoY Change -1.11% -11.08% -9.75%
Intangibles $3.825B $4.263B $4.524B
YoY Change -10.26% -20.1% -15.81%
Long-Term Investments
YoY Change
Other Assets $894.0M $672.3M $613.0M
YoY Change 32.99% 17.3% 9.55%
Total Long-Term Assets $5.859B $5.671B $5.814B
YoY Change 3.33% -11.88% -9.87%
TOTAL ASSETS
Total Short-Term Assets $3.973B $3.928B $4.032B
Total Long-Term Assets $5.859B $5.671B $5.814B
Total Assets $9.832B $9.599B $9.845B
YoY Change 2.43% -6.04% -1.4%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $408.2M $457.7M $690.8M
YoY Change -10.83% -14.79% 47.75%
Accrued Expenses $950.3M $743.2M $897.4M
YoY Change 27.87% -0.6% 11.11%
Deferred Revenue
YoY Change
Short-Term Debt $1.137B $1.068B $21.82M
YoY Change 6.48% 83.78% -91.64%
Long-Term Debt Due $3.000M $3.000M $213.0K
YoY Change 0.0% -25.0% -95.74%
Total Short-Term Liabilities $2.529B $2.272B $1.614B
YoY Change 11.32% 21.49% 4.71%
LONG-TERM LIABILITIES
Long-Term Debt $1.401B $1.423B $1.402B
YoY Change -1.55% -0.14% -1.65%
Other Long-Term Liabilities $1.000B $1.009B $1.187B
YoY Change -0.85% -20.34% -6.05%
Total Long-Term Liabilities $1.000B $1.009B $2.589B
YoY Change -0.85% -20.34% 104.99%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.529B $2.272B $1.614B
Total Long-Term Liabilities $1.000B $1.009B $2.589B
Total Liabilities $4.938B $4.694B $4.214B
YoY Change 5.2% 49.66% 50.27%
SHAREHOLDERS EQUITY
Retained Earnings $2.500B $2.624B $3.232B
YoY Change -4.71% -9.61% 6.67%
Common Stock $3.344B $3.183B $3.101B
YoY Change 5.06% 2854.7% 2763.92%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 0.000 shares 0.000 shares 0.000 shares
Shareholders Equity $4.894B $4.904B $5.631B
YoY Change
Total Liabilities & Shareholders Equity $9.832B $9.599B $9.845B
YoY Change 2.43% -6.04% -1.4%

Cashflow Statement

Concept 2016 Q2 2015 Q2 2015 Q1
OPERATING ACTIVITIES
Net Income $260.3M $288.7M $122.1M
YoY Change -9.85% 83.1% -58.92%
Depreciation, Depletion And Amortization $68.00M $65.90M $74.30M
YoY Change 3.19% -1.93% 81.6%
Cash From Operating Activities -$145.6M -$400.9M $1.331B
YoY Change -63.69% -294.71% 9646.59%
INVESTING ACTIVITIES
Capital Expenditures -$42.70M -$69.70M -$63.60M
YoY Change -38.74% 20.38% -32.34%
Acquisitions
YoY Change
Other Investing Activities $587.0K -$10.62M -$10.60M
YoY Change -105.53% 63.34% -305.03%
Cash From Investing Activities -$43.26M -$59.10M -$74.30M
YoY Change -26.81% -8.37% -25.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $713.8M $730.8M
YoY Change -2.33%
Debt Paid & Issued, Net $10.70M $1.414M
YoY Change 656.36%
Cash From Financing Activities -$190.0M 175.4M -730.6M
YoY Change -208.3% 1126.57% 99.48%
NET CHANGE
Cash From Operating Activities -$145.6M -400.9M 1.331B
Cash From Investing Activities -$43.26M -59.10M -74.30M
Cash From Financing Activities -$190.0M 175.4M -730.6M
Net Change In Cash -$359.8M -284.6M 525.9M
YoY Change 26.41% -282.79% -216.42%
FREE CASH FLOW
Cash From Operating Activities -$145.6M -$400.9M $1.331B
Capital Expenditures -$42.70M -$69.70M -$63.60M
Free Cash Flow -$102.9M -$331.2M $1.394B
YoY Change -68.94% -225.55% 1195.26%

Facts In Submission

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CY2016Q2 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-43258000
CY2016Q2 us-gaap Cost Of Goods Sold
CostOfGoodsSold
1472006000
CY2016Q2 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
713700000
CY2016Q2 vfc Accounts Receivable Sold Gross
AccountsReceivableSoldGross
328200000
CY2016Q2 vfc Treasury Stock Shares Restored
TreasuryStockSharesRestored
11300000 shares
CY2016Q2 vfc Sale Of Accounts Receivable Program Fee
SaleOfAccountsReceivableProgramFee
800000
CY2016Q2 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
4102000
CY2016Q2 vfc Common Stock Purchased For Trust Value
CommonStockPurchasedForTrustValue
100000
CY2016Q2 vfc Pension Expense And Pension Contributions
PensionExpenseAndPensionContributions
9731000

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