Company: UAA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001336917-25-000136
Chunk: 29

Company: Under Armour, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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 related to property and equipment for the three months ended June 30, 2025 was $28.6 million (three months ended June 30, 2024: $32.5 million).

NOTE 4. LEASESThe Company enters into operating leases domestically and internationally to lease certain warehouse space, office facilities, space for its Brand and Factory House stores, and certain equipment under non-cancelable operating leases. The leases expire at various dates through 2038. Short-term lease payments were not material for the periods presented.Lease Costs and Other InformationThe Company recognizes lease expense on a straight-line basis over the lease term. There are no residual value guarantees that exist, and there are no restrictions or covenants imposed by leases. Operating and variable lease costs are included on the Company's Condensed Consolidated Statements of Operations within (i) Selling, 

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general and administrative expenses, (ii) Restructuring charges, for certain operating and variable lease costs relating to restructured facilities; and (iii) Other income (expense), for certain operating and variable lease costs relating to lease assets held for sublet purposes. The following table presents total operating and variable lease costs for the periods indicated:Three Months Ended June 30,20252024Operating lease costs$41,035 $37,793 Variable lease costs$18,289 $21,501 The Company subleases certain excess office facilities, retail space and warehouse space to third parties. Sublease income was $3.4 million for the three months ended June 30, 2025 (three months ended June 30, 2024: $1.0 million).The weighted average remaining lease term and discount rate for the periods indicated below were as follows:As of June 30, 2025As of March 31, 2025Weighted average remaining lease term (in years)7.047.13Weighted average discount rate4.81 %4.88 %Supplemental Cash Flow InformationThe following table presents supplemental information relating to cash flow arising from lease transactions:Three Months Ended June 30,20252024Operating cash outflows from operating leases$43,200 $46,589 Leased assets obtained in exchange for new operating lease liabilities$9,930 $13,555 Maturity of Lease LiabilitiesThe following table presents the future minimum lease payments under the Company's operating lease liabilities as of June 30, 2025:Fiscal year ending March 31