Company: UAA
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001336917-25-000198
Chunk: 14

Company: Under Armour, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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 the FASB issued ASU 2024-03 "Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures" ("ASU 2024-03"), which will require disaggregated disclosure of certain costs and expenses, including purchases of inventory, employee compensation, depreciation, amortization and depletion, within relevant income statement captions. ASU 2024-03 is effective for annual periods beginning after December 15, 2026 and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating this ASU to determine the impact of adoption on its consolidated financial statements and related disclosures.Income TaxIn December 2023, the FASB issued ASU 2023-09 "Improvements to Income Tax Disclosures" ("ASU 2023-09"), which requires expanded income tax disclosures primarily related to an entity's effective tax rate reconciliation and income taxes paid. ASU 2023-09 is effective for fiscal years beginning after December 15, 2024 and should be adopted on a prospective basis. The Company will adopt the annual disclosure requirements of ASU 2023-09 in its Fiscal 2026 Annual Report on Form 10-K. The adoption is expected to expand the Company's disclosures, but is not expected to have a material impact on its consolidated financial statements.

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NOTE 3. PROPERTY AND EQUIPMENTSeptember 30, 2025March 31, 2025Leasehold and tenant improvements$397,199 $457,419 Furniture, fixtures and displays200,897 307,258 Buildings and building improvements245,104 271,888 Software277,310 282,478 Office equipment143,529 141,684 Plant equipment203,151 190,169 Land65,956 74,460 Construction in progress (1)21,280 24,176 Other25,615 19,391 Subtotal property and equipment1,580,041 1,768,923 Accumulated depreciation(974,720)(1,123,776)Property and equipment, net$605,321 $645,147 (1) Construction in progress primarily includes costs incurred for leasehold improvements and in-store fixtures and displays not yet placed in use.Depreciation expense related to property and equipment for the three and six months ended September 30, 2025 was $26.9 million and $