VF Corporation (VFC)

Debt-to-capital ratio

		Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019
Long-term debt	US$ in thousands	4,687,110	—	—	—	5,694,730	—	—	—	4,567,020	—	—	—	5,690,860	—	—	—	2,585,510	—	—	—
Total stockholders’ equity	US$ in thousands	1,658,360	2,109,190	2,210,040	2,716,760	2,910,710	3,319,630	3,085,640	3,352,490	3,530,360	3,653,400	3,598,480	3,274,030	3,056,160	3,138,170	2,945,240	2,912,600	3,357,330	4,567,590	4,647,620	4,151,610
Debt-to-capital ratio		0.74	0.00	0.00	0.00	0.66	0.00	0.00	0.00	0.56	0.00	0.00	0.00	0.65	0.00	0.00	0.00	0.44	0.00	0.00	0.00

March 31, 2024 calculation

Debt-to-capital ratio = Long-term debt ÷ (Long-term debt + Total stockholders’ equity)
= $4,687,110K ÷ ($4,687,110K + $1,658,360K)
= 0.74

The debt-to-capital ratio of VF Corporation has fluctuated over the periods presented. In general, a decreasing trend is observed with occasional spikes in the ratio. The ratio was notably high at 0.74 in March 2024 but dropped to 0.66 in the previous quarter. Prior to these spikes, the ratio was lower, with dips as low as 0.44 in March 2020. Additionally, there were periods where the debt-to-capital ratio was recorded as 0.00, indicating that there was either no debt or no capital during those specific quarters. Overall, the trend suggests that VF Corporation has been actively managing its debt levels relative to its capital structure.