Company: UAA
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001336917-25-000198
Chunk: 108

Company: Under Armour, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 108
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 income targets. As of September 30, 2025, the Company continued to deem the achievement of the targets for these awards to be improbable and as such, no stock-based compensation expense was recorded during the three and six months ended September 30, 2025.The Company assesses the probability of the achievement of the revenue and operating income targets at the end of each reporting period and based on that assessment cumulative adjustments may be recorded in future periods.

NOTE 13. FAIR VALUE MEASUREMENTSFair value is defined as the price that would be received to sell an asset or the exit price that would be paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value accounting guidance outlines a valuation framework, creates a fair value hierarchy in order to increase the consistency and comparability of fair value measurements and the related disclosures, and prioritizes the inputs used in measuring fair value as follows:Level 1:Observable inputs are based upon unadjusted quoted prices for identical instruments traded in active markets.Level 2:Inputs, other than quoted prices in active markets included within level 1, that are directly or indirectly observable. Level 3:Unobservable inputs for which there is little or no market data and which require the reporting entity to develop its own assumptions.Financial assets and liabilities measured at fair value on a recurring basisThe Company's financial assets (liabilities) measured at fair value on a recurring basis consisted of the following types of instruments as of the following periods:September 30, 2025March 31, 2025Level 1Level 2Level 3Level 1Level 2Level 3Derivative foreign currency contracts (Note 14)$— $(42,814)$— $— $192 $— Deferred Compensation Plan obligations$— $(18,420)$— $— $(16,830)$— TOLI policies held by the Rabbi Trust$— $10,168 $— $— $8,726 $— Fair values of the financial assets and liabilities listed above are determined using inputs that use as their basis readily observable market data that are actively quoted and are validated through external sources, including third-party pricing services and brokers. The foreign currency contracts represent unrealized gains and losses on derivative contracts, which is the net difference between the U.S. dollar value to be received or paid at the contracts' settlement date and the U.S. dollar value of the foreign currency to be sold