Company: UAA
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001336917-25-000198
Chunk: 86

Company: Under Armour, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 86
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 Annual Report on Form 10-K. The adoption is expected to expand the Company's disclosures, but is not expected to have a material impact on its consolidated financial statements.

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NOTE 3. PROPERTY AND EQUIPMENTSeptember 30, 2025March 31, 2025Leasehold and tenant improvements$397,199 $457,419 Furniture, fixtures and displays200,897 307,258 Buildings and building improvements245,104 271,888 Software277,310 282,478 Office equipment143,529 141,684 Plant equipment203,151 190,169 Land65,956 74,460 Construction in progress (1)21,280 24,176 Other25,615 19,391 Subtotal property and equipment1,580,041 1,768,923 Accumulated depreciation(974,720)(1,123,776)Property and equipment, net$605,321 $645,147 (1) Construction in progress primarily includes costs incurred for leasehold improvements and in-store fixtures and displays not yet placed in use.Depreciation expense related to property and equipment for the three and six months ended September 30, 2025 was $26.9 million and $55.6 million, respectively (three and six months ended September 30, 2024: $32.3 million and $64.8 million, respectively).

NOTE 4. LEASESThe Company enters into operating leases domestically and internationally to lease certain warehouse space, office facilities, space for its Brand and Factory House stores, and certain equipment under non-cancelable operating leases. The leases expire at various dates through 2038. Short-term lease payments were not material for the periods presented.Lease Costs and Other InformationThe Company recognizes lease expense on a straight-line basis over the lease term. There are no residual value guarantees that exist, and there are no restrictions or covenants imposed by leases. Operating and variable lease costs are included on the Company's Condensed Consolidated Statements of Operations within (i) Selling, general and administrative expenses, (ii) Restructuring charges, for certain operating and variable lease costs relating to restructured facilities; and (iii) Other income (expense), for certain operating and variable lease costs relating to lease assets held for sublet purposes. The following table presents total operating and variable lease costs for the periods indicated:Three Months Ended September 30,Six Months