Company: UAA
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001336917-25-000016
Chunk: 65

Company: Under Armour, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 1
Chunk 65
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 for which there is little or no market data, which require the reporting entity to develop its own assumptions.Financial assets and liabilities measured at fair value on a recurring basisThe Company's financial assets (liabilities) measured at fair value on a recurring basis consisted of the following types of instruments as of the following periods:December 31, 2024March 31, 2024Level 1Level 2Level 3Level 1Level 2Level 3Derivative foreign currency contracts (see Note 17)$— $34,582 $— $— $(4,643)$— TOLI policies held by the Rabbi Trust (see Note 14)$— $8,983 $— $— $9,105 $— Deferred Compensation Plan obligations (see Note 14)$— $(17,986)$— $— $(16,151)$— Fair values of the financial assets and liabilities listed above are determined using inputs that use as their basis readily observable market data that are actively quoted and are validated through external sources, including third-party pricing services and brokers. The foreign currency contracts represent unrealized gains and losses on derivative contracts, which is the net difference between the U.S. dollar value to be received or paid at the contracts' settlement date and the U.S. dollar value of the foreign currency to be sold or purchased at the current market exchange rate. The fair value of the TOLI policies held by the Rabbi Trust are based on the cash-surrender value of the life insurance policies, which are invested primarily in mutual funds and a separately managed fixed income fund. These investments are initially made in the same funds and purchased in substantially the same amounts as the selected investments of participants in the Deferred Compensation Plan, which represent the underlying liabilities to participants. Liabilities under the Deferred Compensation Plan are recorded at amounts due to participants, based on the fair value of participants' selected investments.Fair value of Long-Term DebtThe fair value of long-term debt is estimated based upon quoted prices for similar instruments or quoted prices for identical instruments in inactive markets (Level 2). As of December 31, 2024, the fair value of the Senior Notes was $579.7 million (March 31, 2024: $569.1 million).Assets and liabilities measured at fair value on a non-recurring basisCertain assets are not remeasured to fair value on an ongoing basis but are subject to fair value adjustments only in