2021 Q1 Form 10-Q Financial Statement
#000133691721000027 Filed on May 07, 2021
Income Statement
Concept | 2021 Q1 | 2020 Q1 |
---|---|---|
Revenue | $1.257B | $930.2M |
YoY Change | 35.15% | -22.78% |
Cost Of Revenue | $628.6M | $499.3M |
YoY Change | 25.9% | -24.35% |
Gross Profit | $628.6M | $431.0M |
YoY Change | 45.86% | -20.89% |
Gross Profit Margin | 50.0% | 46.33% |
Selling, General & Admin | $514.6M | $552.7M |
YoY Change | -6.89% | 8.47% |
% of Gross Profit | 81.87% | 128.24% |
Research & Development | ||
YoY Change | ||
% of Gross Profit | ||
Depreciation & Amortization | $35.50M | $48.60M |
YoY Change | -26.95% | 4.52% |
% of Gross Profit | 5.65% | 11.28% |
Operating Expenses | $514.6M | $552.7M |
YoY Change | -6.89% | 8.47% |
Operating Profit | $106.9M | -$558.2M |
YoY Change | -119.15% | -1683.09% |
Interest Expense | -$14.10M | -$8.800M |
YoY Change | 60.23% | 144.44% |
% of Operating Profit | -13.19% | |
Other Income/Expense, Net | -$7.180M | $1.534M |
YoY Change | -568.06% | -329.99% |
Pretax Income | $85.57M | -$562.6M |
YoY Change | -115.21% | -1953.48% |
Income Tax | $9.881M | $21.55M |
% Of Pretax Income | 11.55% | |
Net Earnings | $77.75M | -$589.7M |
YoY Change | -113.19% | -2723.49% |
Net Earnings / Revenue | 6.18% | -63.39% |
Basic Earnings Per Share | $0.17 | -$1.30 |
Diluted Earnings Per Share | $0.17 | -$1.30 |
COMMON SHARES | ||
Basic Shares Outstanding | 456.0M shares | 452.9M shares |
Diluted Shares Outstanding | 459.2M shares | 452.9M shares |
Balance Sheet
Concept | 2021 Q1 | 2020 Q1 |
---|---|---|
SHORT-TERM ASSETS | ||
Cash & Short-Term Investments | $1.349B | $959.3M |
YoY Change | 40.59% | 232.28% |
Cash & Equivalents | $1.349B | $959.3M |
Short-Term Investments | ||
Other Short-Term Assets | $260.9M | $300.1M |
YoY Change | -13.06% | 0.33% |
Inventory | $851.8M | $940.2M |
Prepaid Expenses | ||
Receivables | $696.3M | $668.4M |
Other Receivables | $0.00 | $0.00 |
Total Short-Term Assets | $3.158B | $2.868B |
YoY Change | 10.1% | 29.97% |
LONG-TERM ASSETS | ||
Property, Plant & Equipment | $632.3M | $726.6M |
YoY Change | -12.97% | -10.35% |
Goodwill | $498.0M | $485.7M |
YoY Change | 2.53% | -11.49% |
Intangibles | $12.55M | $40.49M |
YoY Change | -69.01% | 0.95% |
Long-Term Investments | $0.00 | |
YoY Change | -100.0% | |
Other Assets | $78.83M | $93.84M |
YoY Change | -16.0% | -24.54% |
Total Long-Term Assets | $1.757B | $1.970B |
YoY Change | -10.81% | -11.65% |
TOTAL ASSETS | ||
Total Short-Term Assets | $3.158B | $2.868B |
Total Long-Term Assets | $1.757B | $1.970B |
Total Assets | $4.914B | $4.838B |
YoY Change | 1.59% | 9.05% |
SHORT-TERM LIABILITIES | ||
YoY Change | ||
Accounts Payable | $490.9M | $417.4M |
YoY Change | 17.6% | 10.6% |
Accrued Expenses | $311.9M | $267.1M |
YoY Change | 16.77% | -0.4% |
Deferred Revenue | ||
YoY Change | ||
Short-Term Debt | $0.00 | $600.0M |
YoY Change | -100.0% | |
Long-Term Debt Due | ||
YoY Change | ||
Total Short-Term Liabilities | $1.234B | $1.692B |
YoY Change | -27.03% | 54.61% |
LONG-TERM LIABILITIES | ||
Long-Term Debt | $1.010B | $593.3M |
YoY Change | 70.23% | 0.48% |
Other Long-Term Liabilities | $98.54M | $88.86M |
YoY Change | 10.89% | -17.12% |
Total Long-Term Liabilities | $1.108B | $682.1M |
YoY Change | 62.5% | -2.22% |
TOTAL LIABILITIES | ||
Total Short-Term Liabilities | $1.234B | $1.692B |
Total Long-Term Liabilities | $1.108B | $682.1M |
Total Liabilities | $3.144B | $3.287B |
YoY Change | -4.36% | 37.76% |
SHAREHOLDERS EQUITY | ||
Retained Earnings | $747.2M | $634.5M |
YoY Change | 17.78% | -45.23% |
Common Stock | $1.072B | $985.8M |
YoY Change | 8.78% | 5.85% |
Preferred Stock | ||
YoY Change | ||
Treasury Stock (at cost) | ||
YoY Change | ||
Treasury Stock Shares | ||
Shareholders Equity | $1.770B | $1.550B |
YoY Change | ||
Total Liabilities & Shareholders Equity | $4.914B | $4.838B |
YoY Change | 1.59% | 9.05% |
Cashflow Statement
Concept | 2021 Q1 | 2020 Q1 |
---|---|---|
OPERATING ACTIVITIES | ||
Net Income | $77.75M | -$589.7M |
YoY Change | -113.19% | -2723.49% |
Depreciation, Depletion And Amortization | $35.50M | $48.60M |
YoY Change | -26.95% | 4.52% |
Cash From Operating Activities | -$150.6M | -$366.7M |
YoY Change | -58.94% | 308.42% |
INVESTING ACTIVITIES | ||
Capital Expenditures | $8.465M | $31.50M |
YoY Change | -73.13% | -12.29% |
Acquisitions | ||
YoY Change | ||
Other Investing Activities | $600.0K | -$37.30M |
YoY Change | -101.61% | |
Cash From Investing Activities | -$7.904M | -$68.84M |
YoY Change | -88.52% | 91.7% |
FINANCING ACTIVITIES | ||
Cash Dividend Paid | ||
YoY Change | ||
Common Stock Issuance & Retirement, Net | ||
YoY Change | ||
Debt Paid & Issued, Net | $0.00 | $100.0M |
YoY Change | -100.0% | -37.98% |
Cash From Financing Activities | -$3.443M | $599.0M |
YoY Change | -100.57% | -522.88% |
NET CHANGE | ||
Cash From Operating Activities | -$150.6M | -$366.7M |
Cash From Investing Activities | -$7.904M | -$68.84M |
Cash From Financing Activities | -$3.443M | $599.0M |
Net Change In Cash | -$168.8M | $172.2M |
YoY Change | -198.07% | -164.26% |
FREE CASH FLOW | ||
Cash From Operating Activities | -$150.6M | -$366.7M |
Capital Expenditures | $8.465M | $31.50M |
Free Cash Flow | -$159.1M | -$398.2M |
YoY Change | -60.06% | 216.79% |
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|
77752000 | USD |
CY2020Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-589681000 | USD |
CY2021Q1 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
3318000 | USD |
CY2020Q1 | us-gaap |
Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
|
-47679000 | USD |
CY2021Q1 | us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax
|
1232000 | USD |
CY2020Q1 | us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax
|
-11435000 | USD |
CY2021Q1 | us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
|
8798000 | USD |
CY2020Q1 | us-gaap |
Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
|
32545000 | USD |
CY2021Q1 | ua |
Other Comprehensive Income Loss Foreign Currency Intra Entity Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyIntraEntityTransactionAndTranslationAdjustmentNetOfTax
|
-2515000 | USD |
CY2020Q1 | ua |
Other Comprehensive Income Loss Foreign Currency Intra Entity Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyIntraEntityTransactionAndTranslationAdjustmentNetOfTax
|
-4354000 | USD |
CY2021Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
9601000 | USD |
CY2020Q1 | us-gaap |
Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
|
-19488000 | USD |
CY2021Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
87353000 | USD |
CY2020Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-609169000 | USD |
CY2019Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
2150087000 | USD |
CY2020Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
484000 | USD |
CY2020Q1 | us-gaap |
Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
|
2853000 | USD |
CY2020Q1 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
1166000 | USD |
CY2020Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
10465000 | USD |
CY2020Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
-609169000 | USD |
CY2020Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1550180000 | USD |
CY2020Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1675993000 | USD |
CY2021Q1 | us-gaap |
Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
|
6000 | USD |
CY2021Q1 | us-gaap |
Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
|
4376000 | USD |
CY2021Q1 | us-gaap |
Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
|
851000 | USD |
CY2021Q1 | us-gaap |
Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
|
10372000 | USD |
CY2021Q1 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
87353000 | USD |
CY2021Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
1770199000 | USD |
CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
77752000 | USD |
CY2020Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-589681000 | USD |
CY2021Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
35512000 | USD |
CY2020Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
48565000 | USD |
CY2021Q1 | us-gaap |
Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
|
-14702000 | USD |
CY2020Q1 | us-gaap |
Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
|
-12976000 | USD |
CY2021Q1 | us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
-575000 | USD |
CY2020Q1 | us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
-129000 | USD |
CY2021Q1 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
5601000 | USD |
CY2020Q1 | us-gaap |
Asset Impairment Charges
AssetImpairmentCharges
|
437517000 | USD |
CY2021Q1 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
5273000 | USD |
CY2020Q1 | us-gaap |
Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
|
63000 | USD |
CY2021Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
10372000 | USD |
CY2020Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
10465000 | USD |
CY2021Q1 | us-gaap |
Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
|
-9000 | USD |
CY2020Q1 | us-gaap |
Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
|
23253000 | USD |
CY2021Q1 | ua |
Changes In Reserves And Allowances
ChangesInReservesAndAllowances
|
-9262000 | USD |
CY2020Q1 | ua |
Changes In Reserves And Allowances
ChangesInReservesAndAllowances
|
10130000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
170493000 | USD |
CY2020Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-27596000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
-49246000 | USD |
CY2020Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
59701000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-22295000 | USD |
CY2020Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-27153000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
-19467000 | USD |
CY2020Q1 | us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
336357000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-80092000 | USD |
CY2020Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-192651000 | USD |
CY2021Q1 | ua |
Increase Decrease In Accrued Expenses And Other Liabilities
IncreaseDecreaseInAccruedExpensesAndOtherLiabilities
|
-121841000 | USD |
CY2020Q1 | ua |
Increase Decrease In Accrued Expenses And Other Liabilities
IncreaseDecreaseInAccruedExpensesAndOtherLiabilities
|
226315000 | USD |
CY2021Q1 | ua |
Increase Decrease In Customer Refund Liability
IncreaseDecreaseInCustomerRefundLiability
|
-10949000 | USD |
CY2020Q1 | ua |
Increase Decrease In Customer Refund Liability
IncreaseDecreaseInCustomerRefundLiability
|
-8334000 | USD |
CY2021Q1 | us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
1263000 | USD |
CY2020Q1 | us-gaap |
Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
|
-4150000 | USD |
CY2021Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-150588000 | USD |
CY2020Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-366712000 | USD |
CY2021Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
8465000 | USD |
CY2020Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
31498000 | USD |
CY2021Q1 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
561000 | USD |
CY2020Q1 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
0 | USD |
CY2021Q1 | us-gaap |
Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
|
0 | USD |
CY2020Q1 | us-gaap |
Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
|
37343000 | USD |
CY2021Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-7904000 | USD |
CY2020Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-68841000 | USD |
CY2021Q1 | us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
0 | USD |
CY2020Q1 | us-gaap |
Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
|
700000000 | USD |
CY2021Q1 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
0 | USD |
CY2020Q1 | us-gaap |
Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
|
100000000 | USD |
CY2021Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
4301000 | USD |
CY2020Q1 | us-gaap |
Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
|
2732000 | USD |
CY2021Q1 | us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
|
858000 | USD |
CY2020Q1 | us-gaap |
Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
|
1649000 | USD |
CY2021Q1 | us-gaap |
Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
|
0 | USD |
CY2020Q1 | us-gaap |
Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
|
35000 | USD |
CY2021Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-3443000 | USD |
CY2020Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
598952000 | USD |
CY2021Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
-6900000 | USD |
CY2020Q1 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
8761000 | USD |
CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-168835000 | USD |
CY2020Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
172160000 | USD |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1528515000 | USD |
CY2019Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
796008000 | USD |
CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1359680000 | USD |
CY2020Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
968168000 | USD |
CY2021Q1 | us-gaap |
Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
|
40000 | USD |
CY2020Q1 | us-gaap |
Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
|
13081000 | USD |
CY2021Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION<div style="margin-top:2pt;text-align:justify"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Business</span></div><div style="margin-top:5pt;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Under Armour, Inc. (together with its wholly owned subsidiaries, the "Company") is a developer, marketer and distributor of branded athletic performance apparel, footwear, and accessories. The Company creates products engineered to solve problems and make athletes better, as well as digital health and fitness apps built to connect people and drive performance. The Company's products are made, sold and worn worldwide.</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span></div><div style="margin-top:5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Basis of Presentation</span></div><div style="margin-top:5pt;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The accompanying unaudited condensed consolidated financial statements include the accounts of Under Armour Inc. and its wholly owned subsidiaries. Certain information in footnote disclosures normally included in annual financial statements was condensed or omitted for the interim periods presented in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) and accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim consolidated financial statements. These unaudited condensed consolidated financial statements are presented in U.S. Dollars. In the opinion of management, all adjustments consisting of normal, recurring adjustments considered necessary for a fair statement of the financial position and results of operations were included. Intercompany balances and transactions were eliminated upon consolidation. The unaudited condensed consolidated balance sheet as of March 31, 2021 is derived from the audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 ("Fiscal 2020"), filed with the SEC on February 24, 2021 ("Annual Report on Form 10-K for Fiscal 2020"), which should be read in conjunction with these unaudited condensed consolidated financial statements. The unaudited results for the three months ended March 31, 2021, are not necessarily indicative of the results to be expected for the fiscal year ending December 31, 2021 ("Fiscal 2021"), or any other portions thereof. </span></div><div style="margin-top:5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Connected Fitness</span></div><div style="margin-top:5pt;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Prior to January 1, 2021, the Company's previously reported "Connected Fitness" segment was composed of digital subscription and advertising conducted through various platforms, predominantly the MyFitnessPal, MapMyFitness, consisting of applications such as MapMyRun and MapMyRide (collectively "MMR"), and Endomondo platforms. While the Company continues to operate the MMR platforms, MyFitnessPal was sold in December 2020 and Endomondo was wound down in December 2020 as part of the Company's 2020 restructuring plan. As a result of these changes, starting in the first quarter of Fiscal 2021 the Company no longer reports Connected Fitness as a discrete reportable segment. The operating results of MMR are now included within the Company’s Corporate Other segment. Where applicable, all prior period balances that used to reflect Connected Fitness discretely have been recast to be included within the Corporate Other reportable segment, to conform with current period presentation. Such reclassifications did not affect total consolidated net revenues, consolidated income from operations or consolidated net income.</span></div><div style="margin-top:5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Management Estimates and COVID-19 Update</span></div><div style="margin-top:5pt;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates, judgments and assumptions are evaluated on an on-going basis. The Company bases its estimates on historical experience and on various other assumptions that it believes are reasonable at that time; however, actual results could differ from these estimates. </span></div><div style="margin-top:5pt;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Further, COVID-19 continues to significantly impact the global economy. As the impacts of the pandemic continue to evolve, estimates and assumptions about future events and their effects cannot be determined with certainty and therefore require increased judgment. The extent to which the evolving pandemic impacts the Company's financial statements will depend on a number of factors including, but not limited to, any new information that may emerge concerning the severity of COVID-19 and the actions that governments may take to contain the virus or treat its impact. While the Company believes it has made appropriate accounting estimates and assumptions based on the facts and circumstances available as of this reporting date, the Company may experience further impacts based on long-term effects on the Company's customers and the countries in which the </span></div>Company operates. Please see the risk factors discussed in Part I, Item 1A "Risk Factors" in the Company's Annual Report on Form 10-K for Fiscal 2020. | |
CY2021Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="margin-top:5pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Management Estimates and COVID-19 Update</span></div><div style="margin-top:5pt;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates, judgments and assumptions are evaluated on an on-going basis. The Company bases its estimates on historical experience and on various other assumptions that it believes are reasonable at that time; however, actual results could differ from these estimates. </span></div><div style="margin-top:5pt;text-indent:36pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Further, COVID-19 continues to significantly impact the global economy. As the impacts of the pandemic continue to evolve, estimates and assumptions about future events and their effects cannot be determined with certainty and therefore require increased judgment. The extent to which the evolving pandemic impacts the Company's financial statements will depend on a number of factors including, but not limited to, any new information that may emerge concerning the severity of COVID-19 and the actions that governments may take to contain the virus or treat its impact. While the Company believes it has made appropriate accounting estimates and assumptions based on the facts and circumstances available as of this reporting date, the Company may experience further impacts based on long-term effects on the Company's customers and the countries in which the </span></div>Company operates. Please see the risk factors discussed in Part I, Item 1A "Risk Factors" in the Company's Annual Report on Form 10-K for Fiscal 2020. | |
CY2021Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
1348737000 | USD |
CY2020Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
1517361000 | USD |
CY2020Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
959318000 | USD |
CY2021Q1 | us-gaap |
Restricted Cash
RestrictedCash
|
10943000 | USD |
CY2020Q4 | us-gaap |
Restricted Cash
RestrictedCash
|
11154000 | USD |
CY2020Q1 | us-gaap |
Restricted Cash
RestrictedCash
|
8850000 | USD |
CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1359680000 | USD |
CY2020Q4 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
1528515000 | USD |
CY2020Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
968168000 | USD |
CY2021Q1 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<div style="margin-top:14pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentration of Credit Risk</span></div><div style="margin-top:5pt;text-indent:24pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that subject the Company to significant concentration of credit risk consist primarily of accounts receivable. The majority of the Company’s accounts receivable is due from large wholesale customers. None of the Company's customers accounted for more than 10% of accounts receivable as of March 31, 2021, December 31, 2020 and March 31, 2020, respectively. For the three months ended March 31, 2021 and 2020, no customer accounted for more than 10% of the Company's net revenues. The Company regularly evaluates the credit risk of the large wholesale customers which make up the majority of the Company's accounts receivable. Refer to the "Credit Losses - Allowance for Doubtful Accounts" below for a discussion of the evaluation of credit losses.</span></div> | |
CY2020Q4 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
20350000 | USD |
CY2021Q1 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
-1316000 | USD |
CY2021Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
|
45000 | USD |
CY2021Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
18989000 | USD |
CY2020Q4 | ua |
Prepaid Expense And Other Current Assets Allowance For Credit Loss
PrepaidExpenseAndOtherCurrentAssetsAllowanceForCreditLoss
|
7029000 | USD |
CY2021Q1 | ua |
Prepaid Expenses And Other Current Assets Credit Loss Expense Reversal
PrepaidExpensesAndOtherCurrentAssetsCreditLossExpenseReversal
|
0 | USD |
CY2021Q1 | ua |
Prepaid Expense And Other Current Assets Allowance For Credit Loss Recovery
PrepaidExpenseAndOtherCurrentAssetsAllowanceForCreditLossRecovery
|
0 | USD |
CY2021Q1 | ua |
Prepaid Expense And Other Current Assets Allowance For Credit Loss
PrepaidExpenseAndOtherCurrentAssetsAllowanceForCreditLoss
|
7029000 | USD |
CY2021Q1 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
25500000 | USD |
CY2020Q4 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
26700000 | USD |
CY2020Q1 | us-gaap |
Contract With Customer Liability
ContractWithCustomerLiability
|
58500000 | USD |
CY2021Q1 | us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
4300000 | USD |
CY2020Q1 | us-gaap |
Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
|
20300000 | USD |
CY2021Q1 | ua |
Handling Costs
HandlingCosts
|
23300000 | USD |
CY2020Q1 | ua |
Handling Costs
HandlingCosts
|
14900000 | USD |
CY2021Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
34935000 | USD |
CY2020Q1 | us-gaap |
Operating Lease Cost
OperatingLeaseCost
|
37872000 | USD |
CY2021Q1 | us-gaap |
Variable Lease Payment
VariableLeasePayment
|
2920000 | USD |
CY2020Q1 | us-gaap |
Variable Lease Payment
VariableLeasePayment
|
1986000 | USD |
CY2021Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P9Y18D | |
CY2020Q4 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P9Y1M13D | |
CY2020Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P9Y7M20D | |
CY2021Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0382 | |
CY2020Q4 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0383 | |
CY2020Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0399 | |
CY2021Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
45909000 | USD |
CY2020Q2 | us-gaap |
Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
|
439900000 | USD |
CY2020Q1 | us-gaap |
Operating Lease Payments
OperatingLeasePayments
|
36547000 | USD |
CY2021Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
4074000 | USD |
CY2020Q1 | us-gaap |
Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
|
72963000 | USD |
CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
|
150290000 | USD |
CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
|
163805000 | USD |
CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
143554000 | USD |
CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
124776000 | USD |
CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
96576000 | USD |
CY2021Q1 | ua |
Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
|
467029000 | USD |
CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
1146030000 | USD |
CY2021Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
183820000 | USD |
CY2021Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
962210000 | USD |
CY2021Q1 | ua |
Lessee Operating Lease Leases Not Yet Commenced Liability
LesseeOperatingLeaseLeasesNotYetCommencedLiability
|
5500000 | USD |
CY2021Q1 | us-gaap |
Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
|
0.068 | |
CY2021Q1 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-14100000 | USD |
CY2020Q1 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-6000000.0 | USD |
CY2021Q1 | us-gaap |
Revenues
Revenues
|
1257195000 | USD |
CY2020Q1 | us-gaap |
Revenues
Revenues
|
930240000 | USD |
CY2021Q1 | us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
628554000 | USD |
CY2020Q1 | us-gaap |
Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
|
499256000 | USD |
CY2021Q1 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-14137000 | USD |
CY2020Q1 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-5960000 | USD |
CY2021Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-7180000 | USD |
CY2020Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
1534000 | USD |
CY2021Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-7180000 | USD |
CY2020Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
1534000 | USD |
CY2021Q1 | us-gaap |
Maximum Remaining Maturity Of Foreign Currency Derivatives1
MaximumRemainingMaturityOfForeignCurrencyDerivatives1
|
P24M | |
CY2021Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.115 | |
CY2020Q1 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
-0.038 | |
CY2021Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
77752000 | USD |
CY2020Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-589681000 | USD |
CY2021Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
456014000 | shares |
CY2020Q1 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
452871000 | shares |
CY2021Q1 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
3212000 | shares |
CY2020Q1 | us-gaap |
Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
|
0 | shares |
CY2021Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
459226000 | shares |
CY2021Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
459226000 | shares |
CY2020Q1 | us-gaap |
Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
|
452871000 | shares |
CY2021Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.17 | |
CY2020Q1 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
-1.30 | |
CY2021Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
0.17 | |
CY2020Q1 | us-gaap |
Earnings Per Share Diluted
EarningsPerShareDiluted
|
-1.30 | |
CY2021Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
4300000 | shares |
CY2020Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
0 | shares |
CY2021Q1 | us-gaap |
Revenues
Revenues
|
1257195000 | USD |
CY2020Q1 | us-gaap |
Revenues
Revenues
|
930240000 | USD |
CY2021Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
106890000 | USD |
CY2020Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-558180000 | USD |
CY2021Q1 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-14137000 | USD |
CY2020Q1 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-5960000 | USD |
CY2021Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-7180000 | USD |
CY2020Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
1534000 | USD |
CY2021Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
85573000 | USD |
CY2020Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-562606000 | USD |
CY2021Q1 | us-gaap |
Revenues
Revenues
|
1257195000 | USD |
CY2020Q1 | us-gaap |
Revenues
Revenues
|
930240000 | USD |
CY2021Q1 | us-gaap |
Revenues
Revenues
|
1257195000 | USD |
CY2020Q1 | us-gaap |
Revenues
Revenues
|
930240000 | USD |