Company: UAA
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001336917-25-000016
Chunk: 144

Company: Under Armour, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 8
Chunk 144
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29,691)Balance as of March 31, 2023Amount of gain (loss) recognized in other comprehensive income (loss) on derivativesAmount of gain (loss) reclassified from other comprehensive income (loss) into incomeBalance as of December 31, 2023Foreign currency contracts$(4,764)$(17,314)$7,182 $(29,260)Interest rate swaps(458)— (27)(431)Total designated as cash flow hedges$(5,222)$(17,314)$7,155 $(29,691)The following table presents the amounts in the Condensed Consolidated Statements of Operations in which the effects of undesignated derivative instruments are recorded and the effects of fair value hedge activity on these line items:Three Months Ended December 31,Nine Months Ended December 31,2024202320242023TotalAmount of Gain (Loss) on Fair Value Hedge ActivityTotalAmount of Gain (Loss) on Fair Value Hedge ActivityTotalAmount of Gain (Loss) on Fair Value Hedge ActivityTotalAmount of Gain (Loss) on Fair Value Hedge ActivityOther income (expense), net$(2,563)$(1,123)$47,927 $4,610 $(8,713)$3,469 $35,763 $39 Cash Flow HedgesThe Company is exposed to gains and losses resulting from fluctuations in foreign currency exchange rates relating to transactions generated by its international subsidiaries in currencies other than their local currencies. These gains and losses are driven by non-functional currency generated revenue, non-functional currency inventory purchases and certain other intercompany transactions. The Company enters into foreign currency contracts to reduce the risk associated with the foreign currency exchange rate fluctuations on these transactions. Certain contracts are designated as cash flow hedges. As of December 31, 2024, the aggregate notional value of the 

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Company's outstanding cash flow hedges was $850.5 million (March 31, 2024: $1,199.1 million), with contract maturities ranging from one to twenty-four months. The Company may enter into long-term debt arrangements with various lenders which bear a range of fixed and variable rates of interest. The nature and amount of the Company's long-term debt can be expected to vary as a result of future business requirements, market conditions and other factors. The Company may elect to enter into interest rate swap contracts to reduce the impact associated with interest rate fluctuations. The interest rate swap contracts are accounted for as cash flow