Company: UAA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001336917-25-000136
Chunk: 98

Company: Under Armour, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 98
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) Includes approximately $8.5 million of revenue from gift cards, including breakage, and subscription revenues that were previously included in contract liabilities as of March 31, 2025. Loyalty points are not separately identifiable and therefore revenues recognized from the redemption of loyalty points consists of both points that were included in the liability balance at the beginning of the period and those that were issued during the period.

NOTE 11. RESTRUCTURING AND RELATED CHARGESDuring Fiscal 2025, the Company's Board of Directors approved a restructuring plan (the "2025 restructuring plan") designed to strengthen and support the Company's financial and operational efficiencies. The 2025 restructuring plan is expected to range between $140 million to $160 million of pre-tax restructuring and related charges, including (i) up to $90 million in cash-related charges, consisting of approximately $27 million in employee severance and benefits costs and $63 million related to various transformational initiatives; and (ii) up to $70 million in non-cash charges, including approximately $7 million in employee severance and benefits costs and $63 million in facility, software, and other asset-related charges and impairments. The 2025 restructuring plan is expected to be substantially complete by the end of Fiscal 2026. Restructuring and related charges are included in the Company's Corporate Other non-operating segment. The following table summarizes the costs recorded during the periods indicated, as well as the current estimate of remaining charges expected to be incurred in connection with the 2025 restructuring plan:Three Months Ended June 30,Estimated Charges Remaining to be Incurred(1)20252024Costs recorded in restructuring charges: Employee-related costs $4,649 $10,345 Facility-related costs6,311 8,038 Other restructuring costs1,868 6,703 Total costs recorded in restructuring charges$12,828 $25,086 $30,203 Costs recorded in selling, general and administrative expenses:Employee related costs— 8,522 Other transformation initiatives8,259 135 Total costs recorded in selling, general and administrative expenses$8,259 $8,657 $19,548 Total restructuring and related charges$21,087 $33,743 $49,751 (1) Estimated restructuring and related charges reflect the high-end of the range of the total estimated charges expected to be incurred by the Company in connection with the