V f corp (VFC)
CashFlow / Quarterly
Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Jan'16Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Dec'10Sep'10Jun'10Mar'10Dec'09Sep'09Jun'09Mar'09
OPERATING ACTIVITIES
Net income

465,003

649,001

49,221

128,804

463,509

507,121

160,358

252,793

-90,269

386,140

109,889

209,163

264,333

498,489

51,015

260,269

312,209

459,864

170,811

288,709

122,101

470,529

157,682

297,193

367,667

433,761

138,274

270,417

334,168

381,318

155,425

215,227

257,994

301,412

129,567

201,420

55,309

243,254

111,490

163,459

64,985

218,061

74,978

100,434

Income (loss) from discontinued operations, net of tax

12,256

-28

-48,000

-

54,389

90,997

98,994

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Income from continuing operations, net of tax

452,747

649,001

97,249

-

409,120

416,124

61,364

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Adjustments to reconcile net income to cash provided by operating activities:
Impairment of goodwill and intangible assets

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation and amortization

-116,788

161,951

159,178

108,956

62,790

76,363

52,896

71,532

82,913

75,682

65,470

66,438

76,086

68,019

69,442

68,030

73,771

69,039

63,385

65,880

74,364

69,318

67,184

64,017

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Depreciation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

39,401

37,098

36,490

44,341

34,124

35,440

35,064

41,805

28,307

26,995

30,096

35,219

29,133

25,089

27,396

34,591

26,348

30,233

22,035

Amortization of intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11,458

11,467

11,525

11,799

11,909

12,040

12,181

12,616

9,846

9,470

9,776

9,752

9,762

9,881

9,978

10,547

10,596

10,255

9,102

Other amortization

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

13,535

10,202

9,933

15,033

9,979

10,388

5,658

12,270

6,136

6,349

5,069

5,045

4,553

3,893

3,695

4,399

5,088

3,947

3,311

Stock-based compensation

23,885

37,950

33,469

37,580

20,908

21,709

24,960

25,440

23,932

23,248

19,420

15,041

12,829

13,373

20,409

21,151

284

22,823

24,367

25,946

26,873

23,860

26,624

26,956

16,860

22,379

24,670

23,209

19,665

26,633

23,594

22,922

22,492

21,270

19,275

13,702

15,947

16,238

16,579

14,774

9,040

7,159

8,171

11,668

Provision for doubtful accounts

3,358

4,073

2,161

11,140

4,699

4,266

2,448

2,660

9,775

4,913

3,793

2,690

1,090

5,620

4,758

5,815

4,130

3,504

2,027

2,345

-7,393

1,106

677

3,412

1,009

5,539

3,692

5,516

3,743

8,218

3,104

4,199

-

-

-

-

-

-

-

-

-

-

-

-

Pension expense in excess of contributions

15,553

-3,288

-2,837

-4,782

1,337

-942

2,537

1,413

7,421

4,614

5,206

7,781

55,139

13,905

10,230

9,731

11,630

9,013

10,348

-239,700

-39,655

12,118

11,750

5,923

17,567

20,325

20,860

-86,854

-77,872

19,377

20,468

17,829

14,193

10,124

11,212

10,817

-85,487

15,447

13,866

10,324

-78,729

-76,827

23,069

18,338

Deferred income taxes

-

-

-

-

-

-

-

-303

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Loss on sale of businesses, net of tax

-

-

-

-

-

-

-

-18,065

-24,905

250

-2,771

-2,415

0

-3,801

-100,556

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other, net

24,294

112,447

-12,685

-4,781

57,997

-15,398

-6,206

7,148

97,031

15,649

-11,526

-19,310

37,698

-41,424

-3,831

22,789

35,388

-22,891

15,882

6,405

82,129

-81,431

21,695

-26,505

51,434

-8,666

-3,861

-53,213

41,119

1,955

15,014

-17,157

-116,104

76,916

3,908

2,615

-83,826

35,953

-8,716

27,410

-87,524

83,984

-25,508

22,125

Changes in operating assets and liabilities:
Accounts receivable

-358,874

708,399

-164,266

-45,971

-387,097

778,771

27,309

-38,686

-518,491

668,845

-127,500

84,229

-548,288

626,120

-81,781

-43,153

-529,297

688,323

-83,664

48,886

-468,253

641,847

-132,760

-41,688

-300,659

589,542

-142,768

8,938

-390,930

573,573

-144,563

73,491

-419,024

476,349

-4,466

101,628

-319,052

335,277

-28,501

25,230

161,760

-213,130

128,463

-152,542

Inventories

-341,555

246,297

228,120

65,888

-314,882

244,923

139,170

156,292

-407,424

182,435

48,272

159,712

-405,905

227,498

80,904

134,713

-412,571

298,827

123,348

165,494

-324,309

234,662

102,469

117,718

-352,156

220,885

116,248

62,263

-405,381

181,264

81,323

55,174

-320,821

128,680

98,139

101,511

-135,259

88,052

165,408

-3,867

-207,494

58,405

-87,632

27,282

Other current assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-15,155

-8,391

68,034

-

-21,565

38,762

6,657

62,558

-59,233

15,850

-726

1,105

-2,598

4,809

4,373

-75,538

-20,688

-21,158

40,211

Accounts payable

-97,573

-31,107

7,148

57,372

-69,795

44,583

79,518

-187,553

132,770

46,857

49,100

-207,233

107,247

63,657

82,710

-263,167

114,758

78,982

46,451

-225,966

23,747

146,901

69,330

-170,171

-21,173

99,350

124,035

-127,139

25,807

26,774

62,074

-188,949

-13,217

54,042

20,444

-94,167

30,088

46,375

138,416

-74,409

9,665

-22,815

53,338

-109,748

Income taxes

2,990

-54,949

7,867

23,961

47,248

-17,625

-73,558

-65,234

537,475

49,914

-92,983

-34,056

11,688

21,595

-167,270

4,413

-17,245

108,963

-103,389

15,877

133,694

60,850

-123,255

-50,996

77,631

44,032

-86,244

-18,791

43,308

67,415

-91,752

7,242

-10,567

83,393

-71,468

14,651

-12,759

40,230

-68,333

26,213

11,165

23,473

-16,017

-3,858

Accrued liabilities

43,002

107,660

-233,610

40,434

110,913

226,249

107,262

-172,396

-94,319

196,376

-47,408

-22,721

-27,151

139,105

5,164

-88,214

-89,350

139,544

6,969

-71,668

-57,053

191,087

-18,690

-73,355

-49,174

157,879

-57,005

32,772

-77,990

117,816

-45,279

-30,459

-50,072

78,121

-47,805

8,922

-65,765

72,064

-13,722

58,312

-28,776

53,179

-46,991

-2,594

Operating lease right-of-use assets and liabilities

91,027

125,023

102,586

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accrued compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

48,667

30,029

-68,880

-

45,462

27,838

-93,453

1,191

51,479

14,091

-64,313

3,142

38,800

17,423

-31,548

-28,842

24,706

1,404

-8,982

Other assets and liabilities

-7,383

-21,576

-3,738

12,072

27,501

-12,756

-2,183

65,492

-4,490

13,987

396

25,049

-7,596

-15,239

19,566

49,247

-16,510

-45,034

17,175

41,584

-89,811

33,432

-6,035

39,800

18,269

-16,943

16,111

-9,498

-54,476

-15,933

-4,207

1,433

-26,485

-5,116

21,971

-30,960

-17,318

-9,046

-20,196

25,714

69,221

1,664

-16,518

-12,145

Cash provided by operating activities - continuing operations

1,207,104

-299,299

-79,392

-

1,207,411

-195,022

99,337

-

-

-

-

-

-

-

-

-

-

-

-

-400,946

-

147,259

205,933

13,654

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash provided by operating activities - discontinued operations

0

1

13,212

-

126,301

20,829

177,807

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash provided by operating activities

1,207,104

-299,298

-66,180

227,560

1,333,712

-174,193

277,144

-243,223

1,467,977

11,229

205,616

-210,162

1,433,371

30,609

162,156

-145,568

-

-

-

-

-

-

-

-

-

-

-

11,674

-

29,476

185,266

-112,137

1,110,204

13,488

-9,456

-32,865

552,658

140,124

124,346

184,154

709,611

179,203

120,034

-35,363

INVESTING ACTIVITIES
Business acquisitions, net of cash received

0

0

0

0

0

-990

321,395

0

740,541

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-156

0

9,335

29,111

5,120

0

0

207,219

Proceeds from sale of businesses, net of cash sold

0

0

0

13

142,000

0

288,273

0

1,474

5,279

208,215

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Capital expenditures

77,685

62,326

46,270

70,393

50,659

67,098

62,484

54,374

45,160

46,182

37,355

40,856

45,893

47,305

46,306

36,336

67,220

61,777

92,476

33,028

62,471

75,762

46,535

49,309

67,684

48,015

53,227

102,227

61,663

71,297

93,840

25,140

72,721

34,151

30,415

33,607

38,048

28,283

27,970

17,339

28,113

21,203

19,560

16,983

Trademarks acquisition

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

55,500

-

-

0

0

-

-

-

-

Software purchases

11,757

11,064

14,512

13,674

9,823

11,196

21,514

19,289

11,726

19,720

13,074

20,657

12,383

14,482

11,026

6,335

10,230

9,603

6,742

36,708

1,128

10,773

11,388

44,654

12,066

13,208

18,168

10,547

18,381

4,717

-5,578

13,370

5,266

6,615

965

7,256

7,785

2,888

2,236

701

386

2,640

4,869

1,840

Other, net

7,102

3,391

-62,478

7,483

6,210

15,352

-5,373

-17,673

5,390

3,410

324

6,824

3,334

3,700

710

587

8,188

7,481

-14

-10,617

10,623

4,911

6,531

5,170

15,235

5,589

2,082

2,225

4,801

7,283

2,487

-6,341

560

2,173

1,160

-53

10,098

2,885

1,471

2,486

13,118

-177

-3,405

-593

Cash used by investing activities - continuing operations

-96,544

-76,781

1,696

-

75,308

-92,656

-111,747

-

-

-

-

-

-

-

-

-

-

-

-

-59,119

-

-91,446

-64,454

-99,133

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash used by investing activities - discontinued operations

0

0

-2,327

-

-5,527

3,559

-17,483

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Cash used by investing activities

-96,544

-76,781

-631

-72,086

69,781

-89,097

-129,230

-55,990

-801,343

-64,033

157,462

-68,337

-61,610

50,496

-58,042

-43,258

-

-

-

-

-

-

-

-

-

-

-

-114,999

-

-84,792

-22,485

-32,169

-80,081

-2,250,004

-33,638

-96,310

-55,775

-34,056

-41,012

-49,637

-46,737

-23,666

-21,024

-225,449

FINANCING ACTIVITIES
Net decrease in short-term borrowings

-428,138

417,056

-585,477

-11,630

-892,766

254,602

-214,383

795,908

-1,272,882

1,064,627

632,552

262,156

-708,828

-666,665

268,439

685,985

-835,884

129,043

91,443

1,047,660

-633,025

75,471

319,729

242,586

-448,824

423,073

-134,971

169,754

-728,183

59,007

2,571

397,595

-876,981

1,121,553

2,825

3,427

-7,947

-4,345

5,388

-2,837

207,818

103,518

-64,405

-235,912

Payments on long-term debt

1,628

1,389

1,479

1,589

1,568

1,550

1,557

1,484

251,565

928

917

904

891

849

841

10,695

812

960

789

1,414

1,211

852

1,598

1,099

2,731

400,724

710

707

697

681

700

698

806

672

710

550

679

200,665

658

1,061

660

744

728

1,110

Payment of debt issuance costs

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from long-term debt

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Purchases of treasury stock

-

-

-

-

-

-

-

250,282

0

52

762,007

438,297

238

166,384

120,079

713,767

687

409

716

730,811

259

0

213,758

513,778

-1,409

1,847

216

281,370

860

7,326

88,256

210,840

479

1,775

2,713

2,453

89,632

4,295

199,910

118,001

-

-

-

-

Cash dividends paid

188,694

171,066

202,538

201,885

201,325

182,334

181,517

181,373

181,686

165,387

164,893

172,713

173,588

152,823

153,999

155,584

157,591

136,165

135,607

135,912

138,243

113,065

112,849

114,776

115,346

95,330

95,197

96,263

95,709

78,939

78,657

79,924

79,445

69,095

68,707

68,475

68,282

64,659

65,116

66,224

66,132

65,533

65,051

64,966

Cash received from Kontoor Brands, net of cash transferred of $126.8 million

0

0

906,148

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Proceeds from issuance of Common Stock, net of shares withheld for taxes

84,427

43,460

7,199

61,826

7,356

76,614

53,500

44,017

41,749

33,431

11,430

3,283

8,251

28,250

8,315

4,102

7,703

19,416

7,859

-4,107

25,436

5,100

15,299

-10,966

17,127

4,833

33,667

-7,598

17,102

38,488

9,344

-2,164

24,341

25,826

37,809

46,036

57,052

5,190

23,096

52,394

15,172

52,285

1,873

-6,740

Tax benefits of stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

8,591

7,422

31,773

6,194

4,013

13,711

24,222

7,758

14,212

3,188

22,055

11,116

7,319

6,334

8,384

5,319

522

1,089

1,669

1,816

6,669

417

-2,438

Cash used by financing activities

-1,034,036

288,061

123,853

-153,278

-1,240,622

146,852

-343,957

406,786

-1,664,384

931,691

-283,835

-346,475

-875,294

-13,134

1,508

-189,959

-987,271

10,925

-39,285

175,416

-795,088

-24,755

14,245

-366,260

-542,171

-65,982

-183,716

-191,962

-800,790

24,761

-152,510

126,024

-1,024,491

1,975,529

-25,162

-13,631

-107,997

-259,562

-246,887

-128,386

-317,088

-163,829

916

160,658

Effect of foreign currency rate changes on cash, cash equivalents and restricted cash

458

-10,463

5,078

15,492

16,589

2,728

-19,998

12,220

16,879

-5,559

-10,583

2,228

-7,663

-7,324

-10,691

19,033

-31,723

2,258

-5,452

-31,763

-50,515

-10,449

-1,505

-2,992

9,933

1,680

-2,871

-1,737

2,098

4,646

-5,408

2,703

-1,795

-13,100

6,771

23,530

490

16,166

-14,890

-19,046

6,615

2,238

8,848

-5,262

Net change in cash, cash equivalents and restricted cash

76,982

-98,481

62,120

17,688

179,460

-113,710

-216,041

119,793

-980,871

873,328

68,660

-622,746

488,804

60,647

94,931

-359,752

379,195

-93,171

4,287

-316,412

475,395

20,609

154,219

-454,731

460,742

-4,451

19,675

-297,024

292,858

-25,909

4,863

-15,579

3,837

-274,087

-61,485

-119,276

389,376

-137,328

-178,443

-12,915

352,401

-6,054

108,774

-105,416