2016 Q2 Form 10-Q Financial Statement

#000133691716000099 Filed on August 03, 2016

View on sec.gov

Income Statement

Concept 2016 Q2 2015 Q2
Revenue $1.001B $751.9M
YoY Change 33.1% 27.55%
Cost Of Revenue $523.1M $404.5M
YoY Change 29.32% 30.62%
Gross Profit $477.6M $379.1M
YoY Change 26.01% 26.37%
Gross Profit Margin 47.73% 50.41%
Selling, General & Admin $458.3M $347.2M
YoY Change 32.01% 30.87%
% of Gross Profit 95.94% 91.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $35.70M $24.80M
YoY Change 43.95% 45.88%
% of Gross Profit 7.47% 6.54%
Operating Expenses $458.3M $347.2M
YoY Change 32.01% 30.87%
Operating Profit $19.38M $31.90M
YoY Change -39.26% -8.05%
Interest Expense -$7.300M -$4.200M
YoY Change 73.81% 320.0%
% of Operating Profit -37.67% -13.17%
Other Income/Expense, Net -$2.955M $41.00K
YoY Change -7307.32% -83.4%
Pretax Income $10.67M $27.68M
YoY Change -61.46% -17.9%
Income Tax $4.325M $12.91M
% Of Pretax Income 40.54% 46.65%
Net Earnings $6.344M $14.77M
YoY Change -57.04% -16.53%
Net Earnings / Revenue 0.63% 1.96%
Basic Earnings Per Share $0.07
Diluted Earnings Per Share $14.47K $0.07
COMMON SHARES
Basic Shares Outstanding 215.6M shares
Diluted Shares Outstanding 219.9M shares

Balance Sheet

Concept 2016 Q2 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $121.2M $171.2M
YoY Change -29.21% -43.01%
Cash & Equivalents $121.2M $149.1M
Short-Term Investments
Other Short-Term Assets $180.3M $196.7M
YoY Change -8.34% 44.21%
Inventory $1.087B $836.6M
Prepaid Expenses
Receivables $461.0M $353.4M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.849B $1.558B
YoY Change 18.69% 13.86%
LONG-TERM ASSETS
Property, Plant & Equipment $712.9M $430.5M
YoY Change 65.58% 68.83%
Goodwill $580.3M $591.8M
YoY Change -1.94% 379.57%
Intangibles $70.69M $83.75M
YoY Change -15.59% 172.11%
Long-Term Investments
YoY Change
Other Assets $95.82M $62.53M
YoY Change 53.24% 28.32%
Total Long-Term Assets $1.578B $1.201B
YoY Change 31.37% 142.31%
TOTAL ASSETS
Total Short-Term Assets $1.849B $1.558B
Total Long-Term Assets $1.578B $1.201B
Total Assets $3.427B $2.759B
YoY Change 24.21% 48.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $332.1M $375.4M
YoY Change -11.55% 12.4%
Accrued Expenses $170.2M $150.8M
YoY Change 12.86% 36.31%
Deferred Revenue
YoY Change
Short-Term Debt $150.0M $0.00
YoY Change
Long-Term Debt Due $27.00M $42.74M
YoY Change -36.82% 117.49%
Total Short-Term Liabilities $709.4M $591.3M
YoY Change 19.97% 23.12%
LONG-TERM LIABILITIES
Long-Term Debt $838.1M $669.7M
YoY Change 25.16% 278.36%
Other Long-Term Liabilities $108.1M $82.38M
YoY Change 31.23% 24.91%
Total Long-Term Liabilities $946.2M $752.0M
YoY Change 25.82% 209.55%
TOTAL LIABILITIES
Total Short-Term Liabilities $709.4M $591.3M
Total Long-Term Liabilities $946.2M $752.0M
Total Liabilities $1.656B $1.343B
YoY Change 23.24% 85.75%
SHAREHOLDERS EQUITY
Retained Earnings $1.029B $870.6M
YoY Change 18.23% 27.78%
Common Stock $787.1M $572.2M
YoY Change 37.56% 24.7%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.771B $1.416B
YoY Change
Total Liabilities & Shareholders Equity $3.427B $2.759B
YoY Change 24.21% 48.01%

Cashflow Statement

Concept 2016 Q2 2015 Q2
OPERATING ACTIVITIES
Net Income $6.344M $14.77M
YoY Change -57.04% -16.53%
Depreciation, Depletion And Amortization $35.70M $24.80M
YoY Change 43.95% 45.88%
Cash From Operating Activities $70.40M -$3.400M
YoY Change -2170.59% -103.34%
INVESTING ACTIVITIES
Capital Expenditures -$150.4M -$96.70M
YoY Change 55.53% 231.16%
Acquisitions
YoY Change
Other Investing Activities $5.100M -$400.0K
YoY Change -1375.0%
Cash From Investing Activities -$145.3M -$97.10M
YoY Change 49.64% 232.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 39.20M 44.00M
YoY Change -10.91% -6.58%
NET CHANGE
Cash From Operating Activities 70.40M -3.400M
Cash From Investing Activities -145.3M -97.10M
Cash From Financing Activities 39.20M 44.00M
Net Change In Cash -35.70M -56.50M
YoY Change -36.81% -147.2%
FREE CASH FLOW
Cash From Operating Activities $70.40M -$3.400M
Capital Expenditures -$150.4M -$96.70M
Free Cash Flow $220.8M $93.30M
YoY Change 136.66% -28.78%

Facts In Submission

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62533000 USD
CY2015Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
75652000 USD
CY2016Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
95823000 USD
CY2015Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
603000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-12226000 USD
CY2016Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-3177000 USD
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
4265000 USD
CY2015Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-281000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-12587000 USD
CY2016Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-1432000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-247000 USD
CY2015Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-884000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-361000 USD
CY2016Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
1745000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax
-4512000 USD
CY2015Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-127000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-192000 USD
CY2016Q2 us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
344000 USD
us-gaap Other Comprehensive Income Unrealized Gain Loss On Derivatives Arising During Period Tax
OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodTax
-2423000 USD
CY2015Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
22303000 USD
CY2015Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
43415000 USD
CY2016Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
30068000 USD
CY2015Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
82380000 USD
CY2015Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
94868000 USD
CY2016Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
108106000 USD
CY2015Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
41000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-1799000 USD
CY2016Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-2955000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
41600000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
41556000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
24230000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
539460000 USD
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
2321000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
715000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
165485000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
184018000 USD
CY2015Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
147281000 USD
CY2015Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
152242000 USD
CY2016Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
180265000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
450000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
1162474000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
4944000 USD
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
7600000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
19405000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
19400000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities Equity
ProceedsFromSaleOfAvailableForSaleSecuritiesEquity
30712000 USD
CY2015Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
430536000 USD
CY2015Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
538531000 USD
CY2016Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
712873000 USD
CY2016Q2 us-gaap Related Party Transaction Purchases From Related Party
RelatedPartyTransactionPurchasesFromRelatedParty
70300000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
18461000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
807250000 USD
CY2015Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
870640000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1076533000 USD
CY2016Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
1029371000 USD
CY2015Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
783577000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
1588518000 USD
CY2016Q2 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
1000783000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
2048485000 USD
CY2015Q2 us-gaap Sales Revenue Net
SalesRevenueNet
751911000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1531483000 USD
CY2016Q2 us-gaap Sales Revenue Net
SalesRevenueNet
956280000 USD
us-gaap Sales Revenue Net
SalesRevenueNet
1966798000 USD
CY2015Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
347152000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
697149000 USD
CY2016Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
458269000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
904022000 USD
CY2016Q2 us-gaap Senior Notes
SeniorNotes
600000000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
21296000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
28623000 USD
CY2015Q2 us-gaap Stockholders Equity
StockholdersEquity
1415580000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
1668222000 USD
CY2016Q2 us-gaap Stockholders Equity
StockholdersEquity
1771348000 USD
CY2015Q2 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-287000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-70000 USD
CY2016Q2 us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-1128000 USD
us-gaap Unrealized Gain Loss On Derivatives
UnrealizedGainLossOnDerivatives
-917000 USD
us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Description of the Business</font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Under Armour,&#160;Inc. is a developer, marketer and distributor of branded performance apparel, footwear and accessories. These products are sold worldwide and worn by athletes at all levels, from youth to professional on playing fields around the globe, as well as by consumers with active lifestyles. The Under Armour Connected Fitness</font><font style="font-family:inherit;font-size:10pt;"><sup style="vertical-align:top;line-height:120%;font-size:7pt">TM</sup></font><font style="font-family:inherit;font-size:10pt;"> platform powers the world's largest digital health and fitness community. The Company uses this platform to engage its consumers and increase awareness and sales of its products.</font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;">Management Estimates</font></div><div style="line-height:120%;padding-top:6px;text-indent:32px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates.</font></div></div>

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