Quarterly report pursuant to Section 13 or 15(d)

PENSION PLANS

v3.19.2
PENSION PLANS
 3 Months Ended
Mar. 30, 2019
Retirement Benefits [Abstract]  
PENSION PLANS PENSION PLANS
Certain Company employees participate in U.S. and international defined benefit pension plans sponsored by VF (the "Shared Plans"), which include participants of other VF operations. The Company accounts for its participation in the Shared Plans as a multi-employer benefit plan. Accordingly, net periodic pension benefits specifically related to Company employees are reflected in the combined statements of income and the Company does not record an asset or liability in relation to the funded or unfunded status of the Shared Plans.
The Company recognized the following net pension benefits for the Shared Plans:
 
 
Three Months Ended
 
 
 
 
 
 
(In thousands)
 
March 2019
 
 
March 2018
Service cost
 
$
336

 
 
$
1,366

Non-service components
 
(965
)
 
 
(2,095
)
Net periodic pension benefit
 
$
(629
)
 
 
$
(729
)


The service cost component of net periodic pension benefit is reflected in the combined statements of income within "cost of goods sold" and "selling, general and administrative expenses". The non-service components of net periodic pension benefit is reflected in the combined statements of income within "selling, general and administrative expenses."