Company: UAA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001336917-25-000136
Chunk: 82

Company: Under Armour, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 82
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.Disaggregation of Income Statement ExpensesIn November 2024, the FASB issued ASU 2024-03 "Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures" ("ASU 2024-03"), which will require disaggregated disclosure of certain costs and expenses, including purchases of inventory, employee compensation, depreciation, amortization and depletion, within relevant income statement captions. ASU 2024-03 is effective for annual periods beginning after December 15, 2026 and interim periods after December 15, 2027. Early adoption is permitted. The Company is currently evaluating this ASU to determine the impact of adoption on its consolidated financial statements and related disclosures.Income TaxIn December 2023, the FASB issued ASU 2023-09 "Improvements to Income Tax Disclosures" ("ASU 2023-09"), which requires expanded income tax disclosures primarily related to an entity's effective tax rate reconciliation and income taxes paid. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024 and should be adopted on a prospective basis. The Company will adopt the annual disclosure requirements of ASU 2023-09 in its Fiscal 2026 Annual Report on Form 10-K. The adoption is expected to expand the Company's disclosures, but is not expected to have a material impact on its consolidated financial statements.

NOTE 3. PROPERTY AND EQUIPMENTAs of June 30, 2025As of March 31, 2025Leasehold and tenant improvements$408,769 $457,419 Furniture, fixtures and displays309,279 307,258 Buildings and building improvements234,397 271,888 Software279,210 282,478 Office equipment145,083 141,684 Plant equipment190,173 190,169 Land65,956 74,460 Construction in progress (1)28,200 24,176 Other23,314 19,391 Subtotal property and equipment1,684,381 1,768,923 Accumulated depreciation(1,071,207)(1,123,776)Property and equipment, net$613,174 $645,147 (1) Construction in progress primarily includes costs incurred for leasehold improvements and in-store fixtures and displays not yet placed in use.Depreciation expense related to property and equipment for the three months ended June 30, 202