Company: UAA
Filing Date: 2025-05-22
Form Type: 10-K
Source: 0001336917-25-000078
Chunk: 7

Company: Under Armour, Inc.
Filing Date: 2025-05-22
Form: 10-K
Item: Item 7
Chunk 7
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10-K. Additionally, other costs increased due to an impairment charge of $28.4 million related to vacating our previous global headquarters and transformational charges of $31.2 million recorded in connection with the 2025 restructuring plan. See Note 13 to our Consolidated Financial Statements included in Part II, Item 8 of this Annual Report on Form 10-K for additional details. As a percentage of net revenues, other costs increased to 39.7% from 32.1%. 

As a percentage of net revenues, selling, general and administrative expenses increased to 50.4% during Fiscal 2025 as compared to 42.1% during Fiscal 2024.

Restructuring Charges

Restructuring charges within our operating expenses primarily consist of employee severance and benefit costs, various transformational initiatives and facility, software and other asset-related charges and impairments. See Note 13 to our Consolidated Financial Statements included in Part II, Item 8 of this Annual Report on Form 10-K for additional details.

Year Ended March 31,(In thousands)20252024Change ($)Change (%)Restructuring charges$57,969 $— $57,969 100.0 %

Restructuring charges increased by $58.0 million during Fiscal 2025 compared to Fiscal 2024 due to $14.8 million of employee-related charges, $25.5 million of facility-related charges, and $17.7 million of other restructuring charges. 

Interest Income (Expense), net

Interest income (expense), net is primarily comprised of interest income earned on our cash and cash equivalents, offset by interest expense incurred on our debt facilities. See Note 9 to our Consolidated Financial Statements included in Part II, Item 8 of this Annual Report on Form 10-K for additional details.

Year Ended March 31,(In thousands)20252024Change ($)Change (%)Interest income (expense), net$(6,115)$268 $(6,383)(2381.7)%

Interest expense, net increased by $6.4 million to $6.1 million during Fiscal 2025 compared to interest income, net of $0.3 million during Fiscal 2024. This was primarily due to a decrease in interest income resulting from lower interest rates on a lower cash balance and a reduction in capitalized interest. These were partially offset by a decrease in interest expense from our Convertible Senior Notes, which matured during Fiscal 2025.

Other Income (Expense