Company: UAA
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001336917-25-000016
Chunk: 23

Company: Under Armour, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 2
Chunk 23
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 the major components of our cash flows provided by and used in operating, investing and financing activities for the periods presented:Nine Months Ended December 31,(In thousands)20242023Change ($)Net cash provided by (used in):Operating activities$142,880 $476,863 $(333,983)Investing activities(99,194)(71,541)(27,653)Financing activities(154,455)(74,985)(79,470)Effect of exchange rate changes on cash and cash equivalents(20,982)136 (21,118)Net increase (decrease) in cash and cash equivalents$(131,751)$330,473 $(462,224)

Operating Activities

Cash flows from operating activities decreased by $334.0 million, as compared to the nine months ended December 31, 2023, primarily driven by decrease in net income before the impact of non-cash items of $305.0 million and a decrease from changes in working capital of $29.0 million.

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The changes in working capital were due to the following outflows:

•$221.9 million from changes in inventories;

•$77.2 million from changes in other non-current assets;

•$26.5 million from changes in accrued expenses and other liabilities; and

•$12.5 million from changes in income taxes payable and receivable, net.

These outflows were partially offset by the following working capital inflows:

•$140.4 million from changes in accounts payable;

•$78.6 million from changes in accounts receivable;

•$59.2 million from changes in prepaid expenses and other current assets; and

•$30.8 million from changes in customer refund liabilities.

Investing Activities

Cash flows used in investing activities increased by $27.7 million, as compared to the nine months ended December 31, 2023. This was primarily due to an increase in capital expenditures, the acquisition of UNLESS COLLECTIVE, Inc and the equity method investment in ISC Sport. These outflows were partially offset by a higher earn-out collected in connection with the sale of the MyFitnessPal platform and the proceeds from the sale of the MapMyFitness platform.

Total capital expenditures during the nine months ended December 31, 2024 were $139.9 million, or approximately 4% of net revenues, representing a $23.3 million increase from $116.5 million during the nine months ended December 31, 202