Annual report pursuant to Section 13 and 15(d)

TRANSACTIONS WITH FORMER PARENT (Tables)

v3.20.1
TRANSACTIONS WITH FORMER PARENT (Tables)
 12 Months Ended
Dec. 28, 2019
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
The following table presents components of the transfers to and from VF:
(In thousands)
 
December 2019 (a)
 
 
December 2018
 
December 2017
General financing activities
 
$
(723,155
)
 
 
$
(32,498
)
 
$
(436,910
)
Corporate allocations
 
47,903

 
 
113,581

 
146,042

Stock-based compensation expense
 
9,582

 
 
14,894

 
13,021

Pension (benefit) costs
 
(2,246
)
 
 
6,260

 
6,748

Purchases from parent
 
3,193

 
 
998

 
2,357

Sales to parent
 
(13,988
)
 
 
(50,962
)
 
(45,483
)
Other income tax
 
10,863

 
 
64,150

 
97,121

Transition tax related to the Tax Act
 
3,937

 
 
5,716

 
110,562

Cash dividend to former parent
 
(1,032,948
)
 
 
—

 
—

Total net transfers to former parent
 
$
(1,696,859
)
 
 
$
122,139

 
$
(106,542
)
 
 
 
 
 
 
 
 
(a) Activity reflected through the Separation date.
 
 
 
 
 
 
 

The following table presents components of due from former parent, current:
(In thousands)
 
December 2019
 
 
December 2018
Sale of trade accounts receivable
 
$
—

 
 
$
544,858

Hedging agreements with VF
 
—

 
 
2,832

 
 
$
—

 
 
$
547,690


The following table presents components of due from former parent, noncurrent:
(In thousands)
 
December 2019
 
 
December 2018
Hedging agreements with VF
 
$
—

 
 
$
611


The following table presents components of due to former parent, current:
(In thousands)
 
December 2019
 
 
December 2018
Sourcing payable
 
$
—

 
 
$
16,140