Company: UAA
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001336917-25-000016
Chunk: 160

Company: Under Armour, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 8
Chunk 160
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 additional details. These were partially offset by lower salaries expense and selling and distribution expenses. Additionally, legal expenses were lower due to a 

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$22.5 million accrual in the prior year related to the settlement of the Consolidated Securities Action as discussed in Note 10 to our Condensed Consolidated Financial Statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q. As a percentage of net revenues, other costs increased to 34.1% from 30.6%. 

As a percentage of net revenues, selling, general and administrative expenses increased to 45.5% during the three months ended December 31, 2024 as compared to 40.3% during the three months ended December 31, 2023.

Selling, general and administrative expenses increased by $197.5 million, or 11.0%, during the nine months ended December 31, 2024 as compared to the nine months ended December 31, 2023. Within selling, general and administrative expense:

•Marketing costs decreased $31.1 million or 7.1%, due to a reduction in marketing activities during the period. As a percentage of net revenues, marketing costs increased to 10.2% from 10.0%.

•Other costs increased $228.6 million or 16.8%, primarily driven by higher litigation expense, which includes a recovery of insurance proceeds related to the settlement of the Consolidated Securities Action as discussed in Note 10 to our Condensed Consolidated Financial Statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q. Additionally, other costs increased due to an impairment charge of $28.4 million related to vacating our previous global headquarters, higher incentive compensation expense, information technology related expenses and transformational charges recorded in connection with the 2025 restructuring plan. See Note 13 to our Condensed Consolidated Financial Statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q for additional details. These were partially offset by lower salaries expense and lower selling and distribution expenses. As a percentage of net revenues, other costs increased to 39.9% from 31.1%. 

As a percentage of net revenues, selling, general and administrative expenses increased to 50.1% during the nine months ended December 31, 2024 as compared to 41.1% during the nine months ended December 31, 2023.

Restructuring Charges

Restr