Company: UAA
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001336917-25-000016
Chunk: 96

Company: Under Armour, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 96
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 shares of Class C Common Stock, which were immediately retired. As a result, $65.3 million was recorded to retained earnings to reflect the difference between the market price of the Class C Common Stock repurchased and its par value.

As of the date of this Quarterly Report on Form 10-Q, we repurchased a total of $65 million or 8.7 million outstanding shares of Class C Common Stock, leaving approximately $435 million remaining under our current share repurchase program. 

During the three and nine months ended December 31, 2023, we repurchased and immediately retired 3.1 million and 10.7 million, Class C Common Stock, respectively, under our previously approved $500 million share repurchase program which was completed in December 2023. 

Cash Flows

The following table presents the major components of our cash flows provided by and used in operating, investing and financing activities for the periods presented:Nine Months Ended December 31,(In thousands)20242023Change ($)Net cash provided by (used in):Operating activities$142,880 $476,863 $(333,983)Investing activities(99,194)(71,541)(27,653)Financing activities(154,455)(74,985)(79,470)Effect of exchange rate changes on cash and cash equivalents(20,982)136 (21,118)Net increase (decrease) in cash and cash equivalents$(131,751)$330,473 $(462,224)

Operating Activities

Cash flows from operating activities decreased by $334.0 million, as compared to the nine months ended December 31, 2023, primarily driven by decrease in net income before the impact of non-cash items of $305.0 million and a decrease from changes in working capital of $29.0 million.

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The changes in working capital were due to the following outflows:

•$221.9 million from changes in inventories;

•$77.2 million from changes in other non-current assets;

•$26.5 million from changes in accrued expenses and other liabilities; and

•$12.5 million from changes in income taxes payable and receivable, net.

These outflows were partially offset by the following working capital inflows:

•$140.4 million from changes in accounts payable;

•$78.6 million from changes in accounts receivable;

•$59.2 million from changes in prepaid expenses and other