Company: UAA
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001336917-25-000016
Chunk: 161

Company: Under Armour, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 8
Chunk 161
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ucturing charges within our operating expenses primarily consist of employee severance and benefit costs, various transformational initiatives and facility, software and other asset-related charges and impairments. 

Three Months Ended December 31,Nine Months Ended December 31,(In thousands)20242023Change ($)Change (%)20242023Change ($)Change (%)Restructuring charges$13,945 $— $13,945 100.0 %$42,243 $— $42,243 100.0 %

Restructuring charges increased by $13.9 million during the three months ended December 31, 2024 compared to the three months ended December 31, 2023 primarily due to $1.6 million of employee-related charges, $5.7 million of facility-related charges, and $6.7 million of other restructuring charges.

Restructuring charges increased by $42.2 million during the nine months ended December 31, 2024 compared to the nine months ended December 31, 2023 primarily due to $13.3 million of employee-related charges, $18.2 million of facility-related charges, and $10.7 million of other restructuring charges. 

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.

Interest Income (Expense), net

Interest income (expense), net is primarily comprised of interest income earned on our cash and cash equivalents, offset by interest incurred on our debt facilities. See Note 9 to our Condensed Consolidated Financial Statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q for additional details.

Three Months Ended December 31,Nine Months Ended December 31,(In thousands)20242023Change ($)Change (%)20242023Change ($)Change (%)Interest income (expense), net$(3,391)$(211)$(3,180)(1507.1)%$(2,794)$(2,210)$(584)(26.4)%

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Interest expense, net increased by $3.2 million to $3.4 million during the three months ended December 31, 2024, primarily due to a decrease in interest income resulting from lower interest rates.

Interest expense, net increased by $0.6 million to $2.8 million during the nine months ended December 31, 2024, primarily due to a reduction in capitalized interest, partially