Company: UAA
Filing Date: 2025-05-22
Form Type: 10-K
Source: 0001336917-25-000078
Chunk: 82

Company: Under Armour, Inc.
Filing Date: 2025-05-22
Form: 10-K
Item: Item 7A
Chunk 82
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ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Foreign Currency and Interest Rate Risk

We are exposed to global market risks, including the effects of changes in foreign currency and interest rates. We use derivative instruments to manage financial exposures that occur in the normal course of business and do not hold or issue derivatives for trading or speculative purposes. 

We may elect to designate certain derivatives as hedging instruments under U.S. GAAP. We formally document all relationships between designated hedging instruments and hedged items, as well as our risk management objectives and strategies for undertaking hedged transactions. This process includes linking all derivatives designated as hedges to forecasted cash flows and assessing, both at inception and on an ongoing basis, the effectiveness of the hedging relationships.

Our foreign exchange risk management program consists of designated cash flow hedges and undesignated hedges. As of March 31, 2025, we have hedge instruments, primarily for British Pound/U.S. Dollar, Euro/U.S. Dollar, U.S. Dollar/Chinese Renminbi, U.S. Dollar/Canadian Dollar, U.S. Dollar/Mexican Peso, U.S. Dollar/Korean Won, and U.S. Dollar/Japanese Yen currency pairs. All derivatives are recognized on the Consolidated Balance Sheets at fair value and classified based on the instruments' maturity dates. The table below provides information about our foreign currency forward exchange agreements for the currencies listed above and presents the notional amounts and weighted average exchange rates by contractual maturity dates: 

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Table of Contents            

Fiscal year ending March 31,Fair Value as of (In thousands)20262027202820292030 and thereafterTotalMarch 31, 2025March 31, 2024On-Balance Sheet Financial InstrumentsUSD Functional CurrencyEURNotional$201,615 $112,327 $— $— $— $313,942 $(3,384)$668 Weighted Average Exchange Rate1.09 1.08 1.09 GBPNotional281,402 115,102 — — — 396,504 (3,800)(3,721)Weighted Average Exchange Rate1.28 1.26 1.27 JPYNotional25,191 12,413 — — — 37,604 777 2,705 Weighted Average Exchange Rate0.01 0.01