VF Corporation Annual report pursuant to Section 13 and 15(d)

Quarterly Results Of Operations (Tables)

12 Months Ended

Dec. 31, 2011

Note X — Quarterly Results of Operations (Unaudited)


	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Year
	In thousands, except per share amounts
2011 (a)
Total revenues	$	1,958,799	$	1,840,123	$	2,750,071	$	2,910,239	$	9,459,232
Operating income		274,643		188,671		430,118		351,359		1,244,791
Net income attributable to VF Corporation		200,703		129,368		300,700		257,318		888,089
Earnings per share attributable to VF Corporation common stockholders:
Basic	$	1.85	$	1.19	$	2.74	$	2.33	$	8.13
Diluted		1.82		1.17		2.69		2.28		7.98
Dividends per common share	$	0.63	$	0.63	$	0.63	$	0.72	$	2.61
2010 (b)
Total revenues	$	1,749,879	$	1,594,104	$	2,232,367	$	2,126,239	$	7,702,589
Operating income		223,260		169,524		354,545		73,531		820,860
Net income attributable to VF Corporation		163,516		110,835		242,787		54,224		571,362
Earnings per share attributable to VF Corporation common stockholders:
Basic	$	1.48	$	1.02	$	2.25	$	0.50	$	5.25
Diluted		1.46		1.00		2.22		0.49		5.18
Dividends per common share	$	0.60	$	0.60	$	0.60	$	0.63	$	2.43
	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Year
	In thousands, except per share amounts
2009 (c)
Total revenues	$	1,725,474	$	1,485,637	$	2,093,806	$	1,915,369	$	7,220,286
Operating income		161,448		119,738		317,891		137,740		736,817
Net income attributable to VF Corporation		100,939		75,527		217,920		66,885		461,271
Earnings per share attributable to VF Corporation common stockholders:
Basic	$	0.92	$	0.69	$	1.97	$	0.61	$	4.18
Diluted		0.91		0.68		1.94		0.60		4.13
Dividends per common share	$	0.59	$	0.59	$	0.59	$	0.60	$	2.37

(a)	Transaction and restructuring costs related to the acquisition of Timberland reduced operating results as follows:


	Third Quarter		Fourth Quarter		Year
	In millions, except per share amounts
Operating income	$	26.8	$	6.7	$	33.5
Net income		20.0		4.6		24.6
Earnings per share:
Basic	$	0.19	$	0.04	$	0.23
Diluted		0.18		0.04		0.22

(b)	Goodwill and trademark impairment charges in the fourth quarter of 2010 reduced operating results as follows: operating income — $201.7 million; net income — $141.8 million; basic earnings per share — $1.31 ($1.30 for year); and diluted earnings per share — $1.29. See Notes F, G and T.

(c)	Goodwill and trademark impairment changes in the fourth quarter of 2009 reduced operating results as follows: operating income — $122.0 million; net income — $114.4 million; basic earnings per share — $1.04; and diluted earnings per share — $1.02 ($1.03 for year). See Notes F, G and T.

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