Company: UAA
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001336917-25-000198
Chunk: 61

Company: Under Armour, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 61
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6 million during the six months ended September 30, 2024. This was primarily due to an increase in interest expense resulting from the issuance of the Senior Notes due 2030, partially offset by interest income earned on the restricted investments held to satisfy and discharge the Senior Notes due 2026.

Other Income (Expense), net

Other income (expense), net generally consists of unrealized and realized gains and losses on our foreign currency derivative financial instruments, and unrealized and realized gains and losses on adjustments that arise from fluctuations in foreign currency exchange rates relating to transactions generated by our international subsidiaries. Other income (expense), net also includes rent expense and associated sublease income relating to lease assets held solely for sublet purposes.

Three Months Ended September 30,Six Months Ended September 30,20252024Change ($)Change (%)20252024Change ($)Change (%)Other income (expense), net$(942)$(3,420)$2,478 72.5 %$(5,637)$(6,150)$513 8.3 %

Other expense, net decreased by $2.5 million to $0.9 million during the three months ended September 30, 2025 compared to $3.4 million during the three months ended September 30, 2024. This was primarily due an increase in sublease income, partially offset by net losses from foreign currency hedges. 

Other expense, net decreased by $0.5 million to $5.6 million during the six months ended September 30, 2025 compared to $6.2 million during the six months ended September 30, 2024. This was primarily due an increase in sublease income, offset by net losses from foreign currency hedges.

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Income Tax Expense (Benefit)

Three Months Ended September 30,Six Months Ended September 30,20252024Change ($)Change (%)20252024Change ($)Change (%)Income tax expense (benefit)$25,940 $(2,136)$28,076 1314.4 %$23,282 $3,013 $20,269 672.7 %

Income tax expense increased by $28.1 million to $25.9 million during the three months ended September 30, 2025 from income tax benefit of $2.1 million during the three months ended September 30, 2024. For three months ended September 30, 2025, our effective tax rate was 345.9%