North Face 2015 Annual Report Download - page 116

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VF CORPORATION
Notes to Consolidated Financial Statements
December 2015
Coalition assets, for internal management purposes, are those used directly in or resulting from the
operations of each business unit, such as accounts receivable, inventories and property, plant and equipment.
Corporate assets primarily include corporate facilities, investments held in trust for deferred compensation plans
and information systems.
Financial information for VF’s reportable segments is as follows:
2015 2014 2013
In thousands
Coalition revenues:
Outdoor & Action Sports ................... $ 7,400,446 $ 7,198,994 $ 6,379,167
Jeanswear ............................... 2,792,244 2,801,754 2,810,994
Imagewear ............................... 1,082,565 1,104,038 1,065,952
Sportswear ............................... 635,056 650,203 624,693
Contemporary Brands ...................... 344,089 400,431 415,053
Other ................................... 122,344 126,741 123,789
Total coalition revenues .................... $12,376,744 $12,282,161 $11,419,648
Coalition profit:
Outdoor & Action Sports (a) ................. $ 1,266,763 $ 1,312,963 $ 1,106,384
Jeanswear ............................... 535,385 527,972 544,882
Imagewear ............................... 157,959 164,352 152,203
Sportswear ............................... 78,879 77,972 88,157
Contemporary Brands ...................... 5,845 23,420 38,825
Other (b) ................................. 15,135 (2,600) (562)
Total coalition profit ....................... 2,059,966 2,104,079 1,929,889
Impairment of goodwill and intangible assets (c) ...... (143,562) (396,362) —
Corporate and other expenses .................... (253,753) (275,537) (286,767)
Interest expense, net ........................... (82,262) (79,814) (80,632)
Income before income taxes ..................... $ 1,580,389 $ 1,352,366 $ 1,562,490
(a) Includes Timberland acquisition-related expenses of $10.7 million in 2013.
(b) Includes a $16.6 million gain recognized on the sale of a VF Outlet®location in 2015.
(c) Reflects impairment charges in 2015 and 2014 related to the Contemporary Brands coalition. See Notes E, F
and S for additional information.
F-40