Company: UAA
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001336917-25-000016
Chunk: 142

Company: Under Armour, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 8
Chunk 142
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 as its risk management objectives and strategies for undertaking hedge transactions. This process includes linking 

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all derivatives designated as hedges to forecasted cash flows and assessing, both at inception and on an ongoing basis, the effectiveness of the hedging relationships.The Company's foreign exchange risk management program consists of designated cash flow hedges and undesignated hedges. As of December 31, 2024, the Company has hedge instruments primarily for:•British Pound/U.S. Dollar; •Euro/U.S. Dollar; •U.S. Dollar/Chinese Renminbi;•U.S. Dollar/Canadian Dollar; •U.S. Dollar/Mexican Peso; and•U.S. Dollar/Korean Won.All derivatives are recognized on the Condensed Consolidated Balance Sheets at fair value and classified based on the instrument's maturity date.The following table presents the fair values of derivative instruments within the Condensed Consolidated Balance Sheets. Refer to Note 16 of these Condensed Consolidated Financial Statements for a discussion of the fair value measurements.Balance Sheet ClassificationDecember 31, 2024March 31, 2024Derivatives designated as hedging instruments under ASC 815Foreign currency contractsOther current assets$33,679 $10,477 Foreign currency contractsOther long-term assets1,985 2,760 Total derivative assets designated as hedging instruments$35,664 $13,237 Foreign currency contractsOther current liabilities$729 $17,761 Foreign currency contractsOther long-term liabilities— 1,171 Total derivative liabilities designated as hedging instruments$729 $18,932 Derivatives not designated as hedging instruments under ASC 815Foreign currency contractsOther current assets$203 $559 Total derivative assets not designated as hedging instruments$203 $559 Foreign currency contractsOther current liabilities$556 $600 Total derivative liabilities not designated as hedging instruments$556 $600 The following table presents the amounts in the Condensed Consolidated Statements of Operations in which the effects of cash flow hedges are recorded and the effects of cash flow hedge activity on these line items:Three Months Ended December 31,Nine Months Ended December 31,2024202320242023TotalAmount of Gain (Loss) on Cash Flow Hedge ActivityTotalAmount of Gain (Loss) on Cash Flow Hedge ActivityTotalAmount of Gain (Loss) on Cash Flow Hedge ActivityTotalAmount of Gain (Loss) on Cash Flow Hedge ActivityNet revenues$1,401,039