Company: UAA
Filing Date: 2025-05-22
Form Type: 10-K
Source: 0001336917-25-000078
Chunk: 27

Company: Under Armour, Inc.
Filing Date: 2025-05-22
Form: 10-K
Item: Item 8
Chunk 27
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 the customer. These procedures also included, among others, (i) testing the completeness, accuracy, and occurrence of revenue recognized for a sample of revenue transactions by obtaining and inspecting source documents, such as purchase orders, invoices, proof of shipment, and subsequent cash receipts; (ii) testing the completeness and accuracy of a sample of sales incentive transactions by obtaining and inspecting source documents, such as support for the nature of the incentive, amount, and agreement with the customer, and (iii) testing a sample of outstanding customer invoice balances as of March 31, 2025 by obtaining and inspecting source documents, such as invoices, proof of shipment, and subsequent cash receipts.

/s/ PricewaterhouseCoopers LLP

Baltimore, Maryland

May 22, 2025

We have served as the Company's auditor since 2003.

45

Under Armour, Inc. and Subsidiaries

Consolidated Balance Sheets 

(In thousands, except share data)

March 31, 2025March 31, 2024AssetsCurrent assetsCash and cash equivalents$501,361 $858,691        Accounts receivable, net (Note 3)675,822 757,339 Inventories945,836 958,495 Prepaid expenses and other current assets, net206,078 289,157 Total current assets2,329,097 2,863,682 Property and equipment, net (Note 4)645,147 664,503 Operating lease right-of-use assets (Note 5)384,341 434,699 Goodwill (Note 6)487,632 478,302 Intangible assets, net (Note 7)5,224 7,000 Deferred income taxes (Note 18)286,160 221,033 Other long-term assets163,270 91,515 Total assets$4,300,871 $4,760,734 Liabilities and Stockholders' EquityCurrent liabilitiesCurrent maturities of long-term debt (Note 9)$— $80,919 Accounts payable429,944 483,731 Accrued expenses348,747 287,853 Customer refund liabilities (Note 12)146,021 139,283 Operating lease liabilities (Note 5)130,050 139,331 Other current liabilities54,381 34,344 Total current liabilities1,109,143 1,