|3 Months Ended|
Jun. 29, 2019
|Retirement Benefits [Abstract]|
|PENSION PLANS||PENSION PLANS
The components of pension (income) cost for VF’s defined benefit plans were as follows:
The amounts reported in these disclosures for prior periods have not been segregated between continuing and discontinued operations.
VF has reported the service cost component of net periodic pension (income) cost in operating income and the other components (which include interest cost, expected return on plan assets, amortization of prior service costs or credits and actuarial gains and losses) in the other income (expense), net line item in the Consolidated Statements of Income.
VF contributed $1.8 million to its defined benefit plans during the three months ended June 2019, and intends to make approximately $22.6 million of contributions during the remainder of Fiscal 2020.
In the first quarter of Fiscal 2019, VF approved a freeze of all future benefit accruals under the U.S. qualified defined benefit pension
plan and the supplemental defined benefit pension plan, effective December 31, 2018. Accordingly, the Company recognized a $9.5 million pension curtailment loss in the other income (expense), net line item in the Consolidated Statement of Income for the three months ended June 2018.Additionally, VF reported $6.8 million in settlement charges in the other income (expense), net line item in the Consolidated Statement of Income for the three months ended June 2018 related to the recognition of deferred actuarial losses resulting from lump sum payments of retirement benefits in the supplemental defined benefit pension plan.
The entire disclosure for pension and other postretirement benefits.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef