Company: UAA
Filing Date: 2025-05-22
Form Type: 10-K
Source: 0001336917-25-000078
Chunk: 83

Company: Under Armour, Inc.
Filing Date: 2025-05-22
Form: 10-K
Item: Item 7A
Chunk 83
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0.01 CNY Functional CurrencyUSDNotional84,249 — — — — 84,249 2,295 3,158 Weighted Average Exchange Rate6.96 6.96 CAD Functional CurrencyUSDNotional86,105 68,978 — — — 155,083 3,307 1,299 Weighted Average Exchange Rate1.36 1.39 1.37 MXN Functional CurrencyUSDNotional74,244 34,803 — — — 109,047 1,297 (10,452)Weighted Average Exchange Rate19.58 21.75 20.27 KRW Functional CurrencyUSDNotional17,200 — — — — 17,200 1,212 1,740 Weighted Average Exchange Rate1,296.24 1,296.24 

We currently generate a majority of our consolidated net revenues in the United States, and the reporting currency for our Consolidated Financial Statements is the U.S. dollar. As our net revenues and expenses generated outside of the United States increase, our results of operations could be adversely impacted by changes in foreign currency exchange rates. For example, as we recognize foreign revenues in local foreign currencies and if the U.S. dollar strengthens, it could have a negative impact on our foreign revenues upon translation of those results into the U.S. dollar upon consolidation of our financial statements. In addition, we are exposed to gains and losses resulting from fluctuations in foreign currency exchange rates relating to transactions generated by our 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, investments in U.S. dollar denominated available-for-sale debt securities, and certain other intercompany transactions. As of March 31, 2025, the aggregate notional value of our outstanding cash flow hedges was $1.1 billion, with contract maturities ranging from one to twenty-four months.

In order to maintain liquidity and fund business operations, we 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 our long term debt can be expected to vary as a result of future business requirements, market conditions and other factors. We may elect to enter into interest rate swap contracts to reduce the impact associated with interest rate fluctuations from time to time. Our