Under Armour Files 2024 10-K

Ticker: UA · Form: 10-K · Filed: May 29, 2024 · CIK: 1336917

Under Armour, Inc. 10-K Filing Summary
FieldDetail
CompanyUnder Armour, Inc. (UA)
Form Type10-K
Filed DateMay 29, 2024
Risk Levelmedium
Pages15
Reading Time17 min
Key Dollar Amounts$3.2 billion
Sentimentneutral

Sentiment: neutral

Topics: 10-K, annual-report, apparel

TL;DR

UA's 2024 10-K is in, check the financials for the year ending March 31.

AI Summary

Under Armour, Inc. filed its 10-K for the fiscal year ending March 31, 2024, reporting on its financial performance and business operations. The company, headquartered in Baltimore, MD, is involved in the apparel industry. This filing provides a comprehensive overview of its fiscal year, including financial statements and risk factors.

Why It Matters

This filing provides investors and analysts with a detailed look at Under Armour's financial health and strategic direction for the past fiscal year, influencing investment decisions.

Risk Assessment

Risk Level: medium — 10-K filings inherently carry medium risk due to the detailed financial and operational information that can reveal potential challenges or opportunities.

Key Players & Entities

  • Under Armour, Inc. (company) — Filer of the 10-K
  • 2024-03-31 (date) — Fiscal year end date
  • Baltimore, MD (location) — Company headquarters and mailing address
  • 0001336917 (company_id) — Central Index Key for Under Armour, Inc.

FAQ

What is the fiscal year end date for this 10-K filing?

The fiscal year end date for this 10-K filing is March 31, 2024.

What is the company's Central Index Key (CIK)?

The Central Index Key for Under Armour, Inc. is 0001336917.

Where is Under Armour, Inc. headquartered?

Under Armour, Inc. is headquartered at 1020 Hull Street, 3rd Floor, Baltimore, MD 21230.

What is the SEC Act under which this filing is made?

This filing is made under the 1934 Act.

What is the SEC File Number for Under Armour, Inc.?

The SEC File Number for Under Armour, Inc. is 001-33202.

Filing Stats: 4,358 words · 17 min read · ~15 pages · Grade level 16.4 · Accepted 2024-05-29 16:38:44

Key Financial Figures

  • $3.2 billion — our products in the United States were $3.2 billion for Fiscal 2024. No single customer acc

Filing Documents

Forward Looking Statements

Forward Looking Statements 1 Item 1.

Business

Business 2 General 2 Products 3 Marketing and Promotion 3 Sales and Distribution 4 Product Design and Development 5 Sourcing, Manufacturing and Quality Assurance 5 Inventory Management 6 Intellectual Property 6 Competition 7 Sustainability 7 Human Capital Management 8 Information About Our Executive Officers 9 Available Information 10 Item 1A.

Risk Factors

Risk Factors 11 Item 1B. Unresolved Staff Comments 24 Item 1C. Cybersecurity 24 Item 2.

Properties

Properties 25 Item 3.

Legal Proceedings

Legal Proceedings 26 Item 4. Mine Safety Disclosures 26 P ART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 27 Item 6. Reserved 28 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operation s

Management's Discussion and Analysis of Financial Condition and Results of Operation s 28 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 41 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 43 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 91 Item 9A.

Controls and Procedures

Controls and Procedures 91 Item 9B. Other Information 93 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspection 93 PART III Item 10. Directors, Executive Officers and Corporate Governance 93 Item 11.

Executive Compensation

Executive Compensation 94 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 94 Item 13. Certain Relationships and Related Transactions, and Director Independence 94 Item 14. Principal Accountant Fees and Services 94 PART IV Item 15. Exhibits and Financial Statement Schedules 95 Item 16. Form 10-K Summary 99

SIGNATURES

SIGNATURES 100 Table of Contents PART I.

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS Some of the statements contained in this Annual Report on Form 10-K constitute forward-looking statements. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts, such as statements regarding our share repurchase program, our future financial condition or results of operations, our prospects and strategies for future growth, potential restructuring efforts, including the scope of these restructuring efforts and the amount of potential charges and costs, the timing of these measures and the anticipated benefits of our restructuring plans, expectations regarding promotional activities, freight, product cost pressures and foreign currency impacts, the impact of global economic conditions and inflation on our results of operations, our liquidity and use of capital resources, the development and introduction of new products, the implementation of our marketing and branding strategies, the future benefits and opportunities from significant investments and the impact of litigation or other proceedings. In many cases, you can identify forward-looking statements by terms such as "may," "will," "could," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "outlook," "potential" or the negative of these terms or other comparable terminology . The forward-looking statements contained in this Annual Report on Form 10-K reflect our current views about future events and are subject to risks, uncertainties, assumptions and changes in circumstances that may cause events or our actual activities or results to differ significantly from those expressed in any forward-looking statement. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future events, results, actions, levels of activity, performance or achievemen

BUSINESS

ITEM 1. BUSINESS General Our principal business activities are developing, marketing and distributing branded performance apparel, footwear and accessories for men, women and youth. Our performance products are engineered in many designs and styles for use in nearly every climate and are worn worldwide by athletes at all levels, from youth to professional, on various playing fields around the globe and by consumers with active lifestyles. We generate net revenues from the sale of our products globally to national, regional, independent and specialty wholesalers and distributors. We also generate net revenue from the sale of our products through our direct-to-consumer sales channel, which includes our owned Brand and Factory House stores and e-commerce websites. We plan to continue to grow our business over the long term through increased sales of our apparel, footwear and accessories; growth in our direct-to-consumer sales channel; and expansion of our wholesale distribution. We believe that achievement of our long-term growth objectives depends, in part, on our ability to execute strategic initiatives in key areas including our wholesale, footwear, women's and direct-to-consumer businesses. Additionally, our digital strategy is focused on supporting these long-term objectives, emphasizing connection and engagement with our consumers. We were incorporated as a Maryland corporation in 1996. We have registered trademarks around the globe, including UNDER ARMOUR, HEATGEAR, COLDGEAR, HOVR and the Under Armour UA Logo , and we have applied to register many other trademarks. This Annual Report on Form 10-K also contains additional trademarks and tradenames of our Company and our subsidiaries. All trademarks and trade names appearing in this Annual Report on Form 10-K are the property of their respective holders. 2 Table of Contents Products Our product offerings consist of apparel, footwear and accessories for men, women and youth. We market our products at mul

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