Company: UAA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001336917-25-000136
Chunk: 121

Company: Under Armour, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 121
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 cash equivalents, offset by interest expense incurred on our debt facilities. See Note 7 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 June 30,20252024Change ($)Change (%)Interest income (expense), net$(4,051)$2,344 $(6,395)(272.8)%

Interest expense, net increased by $6.4 million to $4.1 million during the three months ended June 30, 2025 compared to interest income, net of $2.3 million during the three months ended June 30, 2024, primarily due to a decrease in interest income resulting from lower interest rates on lower cash balances. Additionally, interest expense increased slightly as a result of the issuance of the Senior Notes due 2030 in June 2025.

Other Income (Expense), net

Other income (expense), net generally consists of unrealized and realized gains and losses on our foreign currency derivative financial instruments, and unrealized and realized gains and losses on adjustments that arise from fluctuations in foreign currency exchange rates relating to transactions generated by our international subsidiaries. Other income (expense), net also includes rent expense and associated sublease income relating to lease assets held solely for sublet purposes.

Three Months Ended June 30,20252024Change ($)Change (%)Other income (expense), net$(4,695)$(2,730)$(1,965)(72.0)%

Other expense, net increased by $2.0 million to $4.7 million during the three months ended June 30, 2025 compared to $2.7 million during the three months ended June 30, 2024. This was primarily due to net losses from foreign currency hedges. 

Income Tax Expense (Benefit)

Three Months Ended June 30,20252024Change ($)Change (%)Income tax expense (benefit)$(2,658)$5,149 $(7,807)(151.6)%

Income tax expense decreased by $7.8 million to a tax benefit of $2.7 million during the three months ended June 30, 2025 from income tax expense of $5.1 million during the three months ended June 30, 2024. For three months ended June 30, 2025, our effective tax rate was 49.0% compared to (1.7)% for the three months 

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