Under Armour (UA) 10-Q 3 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 30, 2016shares
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	UA
Entity Registrant Name	UNDER ARMOUR, INC.
Entity Central Index Key	1,336,917
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Class A Common Stock [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding	183,388,910
Class B Convertible Common Stock [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding	34,450,000
Common Class C [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding	219,454,106

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015
Assets
Cash and cash equivalents	$ 121,216	$ 129,852	$ 149,085
Accounts receivable, net	460,955	433,638	353,406
Inventories	1,086,749	783,031	836,605
Prepaid expenses and other current assets	180,265	152,242	147,281
Deferred income taxes	0	0	71,559
Total current assets	1,849,185	1,498,763	1,557,936
Property and equipment, net	712,873	538,531	430,536
Goodwill	580,301	585,181	591,771
Intangible assets, net	70,689	75,686	83,746
Deferred income taxes	118,053	92,157	32,387
Other long term assets	95,823	75,652	62,533
Total assets	3,426,924	2,865,970	2,758,909
Liabilities and Stockholders' Equity
Revolving credit facility, current	150,000	0	0
Accounts payable	332,060	200,460	375,431
Accrued expenses	170,226	192,935	150,824
Current maturities of long term debt	27,000	42,000	42,737
Other current liabilities	30,068	43,415	22,303
Total current liabilities	709,354	478,810	591,295
Long term debt, net of current maturities	838,116	624,070	669,654
Other long term liabilities	108,106	94,868	82,380
Total liabilities	1,655,576	1,197,748	1,343,329
Commitments and contingencies (see Note 4)
Stockholders' equity
Additional paid-in capital	787,091	636,558	572,191
Retained earnings	1,029,371	1,076,533	870,640
Accumulated other comprehensive income	(45,260)	(45,013)	(27,395)
Total stockholders' equity	1,771,348	1,668,222	1,415,580
Total liabilities and stockholders' equity	3,426,924	2,865,970	2,758,909
Class A Common Stock [Member]
Stockholders' equity
Common Stock	62	61	60
Class B Convertible Common Stock [Member]
Stockholders' equity
Common Stock	11	11	12
Common Class C [Member]
Stockholders' equity
Common Stock	$ 73	$ 72	$ 72

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015
Class A Common Stock [Member]
Common Stock, Par or Stated Value Per Share	$ 0.0003	$ 0.0003	$ 0.0003
Common Stock, Shares Authorized	400,000,000	400,000,000	400,000,000
Entity Common Stock, Shares Outstanding	183,388,910
Shares issued		181,646,468	179,961,526
Shares outstanding		181,646,468	179,961,526
Class B Convertible Common Stock [Member]
Common Stock, Par or Stated Value Per Share	$ 0.0003	$ 0.0003	$ 0.0003
Common Stock, Shares Authorized		34,450,000	35,700,000
Entity Common Stock, Shares Outstanding	34,450,000
Shares issued		34,450,000	35,700,000
Shares outstanding		34,450,000	35,700,000
Common Class C [Member]
Common Stock, Par or Stated Value Per Share	$ 0.0003	$ 0.0003	$ 0.0003
Common Stock, Shares Authorized	400,000,000	400,000,000	400,000,000
Entity Common Stock, Shares Outstanding	219,454,106
Shares issued		216,096,468	215,661,526
Shares outstanding	219,454,106	216,096,468	215,661,526

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net revenues	$ 1,000,783	$ 783,577	$ 2,048,485	$ 1,588,518
Cost of goods sold	523,136	404,524	1,090,202	831,801
Gross profit	477,647	379,053	958,283	756,717
Selling, general and administrative expenses	458,269	347,152	904,022	697,149
Income from operations	19,378	31,901	54,261	59,568
Interest Income (Expense), Net	(5,754)	(4,262)	(10,286)	(6,472)
Other income (expense), net	(2,955)	41	(253)	(1,799)
Income before income taxes	10,669	27,680	43,722	51,297
Provision for income taxes	4,325	12,914	18,198	24,803
Net income	6,344	14,766	25,524	26,494
Dividends	59,000
Net Income (Loss) Attributable to Parent after Dividends Paid	$ (52,656)	$ 14,766	$ (33,476)	$ 26,494
Class A Common Stock And Class B Convertible Common Stock [Member]
Net income available per common share
Basic	$ (0.12)	$ 0.03	$ (0.08)	$ 0.06
Diluted	$ (0.12)	$ 0.03	$ (0.08)	$ 0.06
Weighted average common shares outstanding
Weighted Average Number of Shares Outstanding, Basic	217,711,000	215,590,000	217,262,000	215,146,000
Diluted	221,376,000	219,921,000	221,503,000	219,721,000
Common Class C [Member]
Dividends	$ 59,000	$ 0	$ 59,000	$ 0
Net income available per common share
Basic	$ 0.15	$ 0.03	$ 0.19	$ 0.06
Diluted	$ 0.15	$ 0.03	$ 0.19	$ 0.06
Weighted average common shares outstanding
Weighted Average Number of Shares Outstanding, Basic	217,832,000	215,590,000	217,323,000	215,146,000
Diluted	221,496,000	219,921,000	221,563,000	219,721,000

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net income	$ 6,344	$ 14,766	$ 25,524	$ 26,494
Other comprehensive income:
Foreign currency translation adjustment	(3,177)	603	4,265	(12,226)
Unrealized gain on cash flow hedge, net of tax	1,745	(884)	(4,512)	(361)
Total other comprehensive income	(1,432)	(281)	(247)	(12,587)
Comprehensive income	$ 4,912	$ 14,485	$ 25,277	$ 13,907

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax	$ 344,000	$ (127,000)	$ (2,423,000)	$ (192,000)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities
Net income	$ 25,524	$ 26,494
Adjustments to reconcile net income to net cash used in operating activities
Depreciation and amortization	67,737	46,064
Unrealized foreign currency exchange rate (gains) losses	(3,861)	19,223
Loss on disposal of property and equipment	463	260
Stock-based compensation	28,623	21,296
Deferred Income Taxes and Tax Credits	(23,739)	(15,539)
Changes in reserves and allowances	53,551	10,710
Changes in operating assets and liabilities:
Accounts receivable	(74,566)	(85,104)
Inventories	(296,654)	(312,745)
Prepaid expenses and other assets	3,786	(21,082)
Accounts payable	145,896	170,131
Accrued expenses and other liabilities	(32,518)	643
Income taxes payable and receivable	(42,980)	(40,264)
Net cash used in operating activities	(148,738)	(179,913)
Cash flows from investing activities
Purchase of property and equipment	(184,018)	(165,485)
Payments to Acquire Property, Plant, and Equipment from Related Parties	(70,288)	0
Payments to Acquire Businesses, Net of Cash Acquired	0	(539,460)
Payments to Acquire Available-for-sale Securities	(24,230)	(41,556)
Proceeds from Sale of Available-for-sale Securities, Equity	30,712	19,405
Payments to Acquire Productive Assets	(715)	(2,321)
Net cash used in investing activities	(248,539)	(729,417)
Cash flows from financing activities
Payment on Term Loan	1,162,474	450,000
Payments on long term debt	(807,250)	(18,461)
Excess tax benefits from stock-based compensation arrangements	37,138	37,672
Proceeds from exercise of stock options and other stock issuances	7,600	4,944
Payments of deferred financing costs	(5,250)	(947)
Dividends Paid, Cash	(2,927)	0
Payments for (Proceeds from) Previous Acquisition	(2,424)	0
Net cash provided by financing activities	389,361	473,208
Effect of exchange rate changes on cash and cash equivalents	(720)	(7,968)
Net decrease in cash and cash equivalents	(8,636)	(444,090)
Cash and cash equivalents
Beginning of period	129,852	593,175
End of period	121,216	149,085
Noncash or Part Noncash Acquisition, Fixed Assets Acquired	(14,662)	(5,693)
Noncash or Part Noncash Acquisition, Value of Assets Acquired	(56,073)	0
Noncash or Part Noncash Acquisition, Fixed Assets Acquired Under Build-to-Suit Leases	$ 0	$ 5,631

Description of the Business

Description of the Business	6 Months Ended
	Jun. 30, 2016
Description of the Business	Description of the Business Under Armour, 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 TM 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.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2016
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements include the accounts of Under Armour, Inc. and its wholly owned subsidiaries (the “Company”). 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 for interim consolidated financial statements. 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. The consolidated balance sheet as of December 31, 2015 is derived from the audited financial statements included in the Company’s Annual Report on Form 10-K filed with the SEC for the year ended December 31, 2015 (the “ 2015 Form 10-K”), which should be read in conjunction with these consolidated financial statements. The results for the six months ended June 30, 2016 are not necessarily indicative of the results to be expected for the year ending December 31, 2016 or any other portions thereof. On March 16, 2016, the Board of Directors approved the issuance of the Company’s new Class C non-voting common stock, referred to as the Class C stock. The Class C stock was issued through a stock dividend on a one-for-one basis to all existing holders of the Company's Class A and Class B common stock. The shares of Class C stock were distributed on April 7, 2016, to stockholders of record of Class A and Class B common stock as of March 28, 2016. Stockholders' equity and all references to share and per share amounts in the accompanying consolidated financial statements have been retroactively adjusted to reflect this one-for-one stock dividend. On June 3, 2016, the Board of Directors approved the payment of a $59.0 million dividend to the holders of the Company's Class C stock in connection with shareholder litigation related to the creation of the Class C stock. The Company's Board of Directors approved the payment of this dividend in the form of additional shares of Class C stock, with cash in lieu of any fractional shares. This dividend was distributed on June 29, 2016, in the form of 1,470,256 shares of Class C stock and $2.9 million in cash. On January 5, 2015, the Company acquired 100% of the outstanding equity of Endomondo ApS (“Endomondo”), a Denmark-based digital connected fitness company. On March 17, 2015, the Company acquired 100% of the outstanding equity of MyFitnessPal, Inc. (“MFP”), a digital nutrition and connected fitness company. Both companies were acquired to expand the Under Armour Connected Fitness community. The Company identified a prior period error in the classification of available-for-sale securities (“AFS”) for the first and second quarters of 2015. The Company concluded that the error was not material to any of its previously issued financial statements. The Company has revised its financial statements to reflect the correct classification. The revision resulted in a reclassification from "Cash and cash equivalents" to "Prepaid expenses and other current assets" on the June 30, 2015 balance sheet of $22.2 million . Correspondingly, the revision resulted in the presentation of purchases and sales of AFS for the six months ended June 30, 2015 of $41.6 million and $19.4 million , respectively. Concentration of Credit Risk 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 sporting goods retailers. Credit is extended based on an evaluation of each customer’s financial condition and collateral is not required. The Company's largest customer in North America accounted for 18.3% , 18.7% and 20.8% of accounts receivable as of June 30, 2016 , December 31, 2015 and June 30, 2015 , respectively. The Company's largest customer accounted for 11.1% and 12.1% of net revenues for the six months ended June 30, 2016 and 2015 , respectively. Allowance for Doubtful Accounts As of June 30, 2016 , December 31, 2015 and June 30, 2015 , the allowance for doubtful accounts was $34.4 million , $5.9 million and $5.1 million , respectively. During the second quarter of 2016, the Company became aware of the liquidation of The Sports Authority’s business rather than a restructuring or sale, which had previously been anticipated. Due to this liquidation, the Company recorded an allowance of $21.4 million during the three months ended June 30, 2016. Shipping and Handling Costs The Company charges certain customers shipping and handling fees. These fees are recorded in net revenues. The Company includes the majority of outbound handling costs as a component of selling, general and administrative expenses. Outbound handling costs include costs associated with preparing goods to ship to customers and certain costs to operate the Company’s distribution facilities. These costs, included within selling, general and administrative expenses, were $19.3 million and $12.8 million for the three months ended June 30, 2016 and 2015 , respectively, and $39.4 million and $25.8 million for the six months ended June 30, 2016 and 2015 , respectively. The Company includes outbound freight costs associated with shipping goods to customers as a component of cost of goods sold. Management Estimates 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. Recently Issued Accounting Standards In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") 2014-09, which supersedes the most current revenue recognition requirements. This ASU requires entities to recognize revenue in a way that depicts the transfer of goods or services to customers in an amount that reflects the consideration which the entity expects to be entitled to in exchange for those goods or services. In 2016, the FASB issued ASUs 2016-08, 2016-10, 2016-11 and 2016-12, which provide supplemental adoption guidance and clarification to ASU 2014-09. These ASUs will be effective for annual and interim periods beginning after December 15, 2017 with early adoption for annual and interim periods beginning after December 15, 2016 permitted and should be applied retrospectively to each prior reporting period presented or as a cumulative effect adjustment as of the date of adoption. The Company is currently evaluating this pronouncement to determine the impact of its adoption on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, which amends the existing guidance for leases and will require recognition of operating leases with lease terms of more than twelve months and all financing leases on the balance sheet. For these leases, companies will record assets for the rights and liabilities for the obligations that are created by the leases. This ASU will require disclosures that provide qualitative and quantitative information for the lease assets and liabilities recorded in the financial statements. This ASU is effective for fiscal years beginning after December 15, 2018. The Company is currently evaluating this ASU to determine the impact of its adoption on its consolidated financial statements. In March 2016, the FASB issued ASU 2016-05, which clarifies that a change in counterparty of a derivative contract in a hedge accounting relationship does not, in and of itself, require dedesignation of that hedge accounting relationship. This ASU amends ASC 815 to clarify that such a change does not, in and of itself, represent a termination of the original derivative instrument or a change in the critical terms of the hedge relationship. The adoption of this ASU will not have a significant impact on the Company's consolidated financial statements. In March 2016, the FASB issued ASU 2016-09, which effects all entities that issue share-based payment awards to their employees. The amendments in this ASU cover such areas as the recognition of excess tax benefits and deficiencies, the classification of those excess tax benefits on the statement of cash flows, an accounting policy election for forfeitures, the amount an employer can withhold to cover income taxes and still qualify for equity classification and the classification of those taxes paid on the statement of cash flows. This ASU is effective for annual and interim periods beginning after December 15, 2016. This guidance can be applied either prospectively, retrospectively or using a modified retrospective transition method. Early adoption is permitted. The Company has not yet selected a transition date and is currently evaluating this ASU to determine the impact of its adoption on its consolidated financial statements. Recently Adopted Accounting Standards In November 2015, the FASB issued an Accounting Standards Update which requires deferred tax liabilities and assets to be classified as non-current in a classified statement of financial position. The guidance is effective for financial statements issued for annual periods beginning after December 15, 2017, and interim periods within annual periods beginning after December 15, 2018. Earlier adoption is permitted for all entities as of the beginning of an interim or annual reporting period. This amendment may be applied either prospectively or retrospectively to all periods presented. The Company adopted the provisions of this guidance prospectively in the fourth quarter of 2015, and did not retrospectively adjust the prior periods. Had the Company adopted this guidance retrospectively, $71.6 million would have been reclassified from deferred income taxes-current to deferred income taxes-long term for the six months ended June 30, 2015 . The adoption of this guidance will simplify the presentation of deferred income taxes and reduce complexity without decreasing the usefulness of information provided to users of financial statements. The adoption of this pronouncement did not have a significant impact on the Company's financial position, results of operations and cash flows. In April 2015, the FASB issued ASU 2015-03, which requires costs incurred to issue debt to be presented in the balance sheet as a direct deduction from the carrying value of the debt. This ASU is effective for annual and interim reporting periods beginning after December 15, 2015, with early adoption permitted. The Company adopted the provisions of this ASU in the first quarter of 2016, and reclassified approximately $2.9 million and $3.4 million from "Other long term assets" to "Long term debt, net of current maturities" as of December 31, 2015 and June 30, 2015 .

Credit Facility and Long Term D

Credit Facility and Long Term Debt	6 Months Ended
	Jun. 30, 2016
Credit Facility and Long Term Debt	Long Term Debt Credit Facility In January 2016, the Company amended its credit agreement to increase revolving credit facility commitments from $800.0 million to $1.25 billion . This amendment also extended the term of the revolving credit facility and the remaining outstanding term loans under the credit agreement, which as of June 30, 2016 totaled $198.8 million , from May 2019 to January 2021 . As of June 30, 2016 , the Company had $185.0 million outstanding under the revolving credit facility. The borrowings under the revolving credit facility have maturities of less than one year. However, $35.0 million in borrowings are classified as non-current as the Company has the intent and ability to refinance these obligations on a long-term basis. Up to $50.0 million of the facility may be used for the issuance of letters of credit. There were $1.4 million of letters of credit outstanding as of June 30, 2016 . The credit agreement contains negative covenants that, subject to significant exceptions, limit the ability of the Company and its subsidiaries to, among other things, incur additional indebtedness, make restricted payments, pledge their assets as security, make investments, loans, advances, guarantees and acquisitions, undergo fundamental changes and enter into transactions with affiliates. The Company is also required to maintain a ratio of consolidated EBITDA, as defined in the credit agreement, to consolidated interest expense of not less than 3.50 to 1.00 and is not permitted to allow the ratio of consolidated total indebtedness to consolidated EBITDA to be greater than 3.25 to 1.00 ("consolidated leverage ratio"). As of June 30, 2016 , the Company was in compliance with these ratios. In addition, the credit agreement contains events of default that are customary for a facility of this nature, and includes a cross default provision whereby an event of default under other material indebtedness, as defined in the credit agreement, will be considered an event of default under the credit agreement. Borrowings under the credit agreement bear interest at a rate per annum equal to, at the Company’s option, either (a) an alternate base rate, or (b) a rate based on the rates applicable for deposits in the interbank market for U.S. Dollars or the applicable currency in which the loans are made (“adjusted LIBOR”), plus in each case an applicable margin. The applicable margin for loans will be adjusted by reference to a grid (the “Pricing Grid”) based on the consolidated leverage ratio and ranges between 1.00% to 1.25% for adjusted LIBOR loans and 0.00% to 0.25% for alternate base rate loans. The weighted average interest rate under the outstanding term loans and revolving credit facility borrowings was 1.57% and 1.56% during the three and six months ended June 30, 2016 , respectively. The Company pays a commitment fee on the average daily unused amount of the revolving credit facility and certain fees with respect to letters of credit. As of June 30, 2016 , the commitment fee was 15.0 basis points. Since inception, the Company incurred and deferred $3.9 million in financing costs in connection with the credit agreement. 3.250% Senior Notes In June 2016, the Company issued $600.0 million aggregate principal amount of 3.250% senior unsecured notes due June 15, 2026 (the “Notes”). The proceeds were used to pay down amounts outstanding under the revolving credit facility. Interest is payable semi-annually on June 15 and December 15 beginning December 15, 2016. Prior to March 15, 2026 (three months prior to the maturity date of the Notes), the Company may redeem some or all of the Notes at any time or from time to time at a redemption price equal to the greater of 100% of the principal amount of the Notes to be redeemed or a “make-whole” amount applicable to such Notes as described in the indenture governing the Notes, plus accrued and unpaid interest to, but excluding, the redemption date. On or after March 15, 2026 (three months prior to the maturity date of the Notes), the Company may redeem some or all of the Notes at any time or from time to time at a redemption price equal to 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. The indenture governing the Notes contains covenants, including limitations that restrict the Company’s ability and the ability of certain of its subsidiaries to create or incur secured indebtedness and enter into sale and leaseback transactions and the Company’s ability to consolidate, merge or transfer all or substantially all of its properties or assets to another person, in each case subject to material exceptions described in the indenture. The Company incurred and deferred $5.3 million in financing costs in connection with the Notes. Other Long Term Debt In December 2012, the Company entered into a $50.0 million recourse loan collateralized by the land, buildings and tenant improvements comprising the Company's corporate headquarters. The loan has a seven year term and maturity date of December 2019 . The loan bears interest at one month LIBOR plus a margin of 1.50% , and allows for prepayment without penalty. The loan includes covenants and events of default substantially consistent with the Company's credit agreement discussed above. The loan also requires prior approval of the lender for certain matters related to the property, including transfers of any interest in the property. As of June 30, 2016 , December 31, 2015 and June 30, 2015 , the outstanding balance on the loan was $43.0 million , $44.0 million and $45.0 million , respectively. The weighted average interest rate on the loan was 1.95% and 1.91% for the three and six months ended June 30, 2016 , respectively. Interest expense, net was $5.8 million and $4.3 million for the three months ended June 30, 2016 and 2015 , respectively, and $10.3 million and $6.5 million for the six months ended June 30, 2016 and 2015 , respectively. Interest expense includes the amortization of deferred financing costs, bank fees, capital and built-to-suit lease interest and interest expense under the credit and other long term debt facilities . The Company monitors the financial health and stability of its lenders under the credit and other long term debt facilities, however during any period of significant instability in the credit markets lenders could be negatively impacted in their ability to perform under these facilities.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies	Commitments and Contingencies The Company leases office facilities, distribution centers and space for its retail stores and certain equipment under non-cancelable operating leases. The leases expire at various dates through 2031 , excluding extensions at the Company’s option, and include provisions for rental adjustments. The table below does not include contingent rent the Company may incur at its stores based on future sales above a specified minimum or payments made for maintenance, insurance and real estate taxes. Since the filing of the Company’s Form 10-K for the year ended December 31, 2015, there has been a material increase in the amount of future minimum lease payments for non-cancelable real property operating leases. The following schedule updates the information previously provided in the Company’s Form 10-K with respect to these future payments as of June 30, 2016: (In thousands) 2016 (remaining) $ 43,546 2017 86,894 2018 99,541 2019 110,170 2020 107,108 2021 and thereafter 697,322 Total future minimum lease payments $ 1,144,581 There were no additional significant changes to the contractual obligations reported in the 2015 Form 10-K other than the borrowings and repayments disclosed in Note 3 and changes which occur in the normal course of business. In connection with various contracts and agreements, the Company has agreed to indemnify counterparties against certain third party claims relating to the infringement of intellectual property rights and other items. Generally, such indemnification obligations do not apply in situations in which the counterparties are grossly negligent, engage in willful misconduct, or act in bad faith. Based on the Company’s historical experience and the estimated probability of future loss, the Company has determined that the fair value of such indemnifications is not material to its consolidated financial position or results of operations. From time to time, the Company is involved in litigation and other proceedings, including matters related to commercial and intellectual property disputes, as well as trade, regulatory and other claims related to its business. The Company believes that all current proceedings are routine in nature and incidental to the conduct of its business, and that the ultimate resolution of any such proceedings will not have a material adverse effect on its consolidated financial position, results of operations or cash flows.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2016
Fair Value Measurements	Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). The fair value accounting guidance outlines a valuation framework, creates a fair value hierarchy in order to increase the consistency and comparability of fair value measurements and the related disclosures, and prioritizes the inputs used in measuring fair value as follows: Level 1: Observable inputs such as quoted prices in active markets; Level 2: Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and Level 3: Unobservable inputs for which there is little or no market data, which require the reporting entity to develop its own assumptions. Financial assets and (liabilities) measured at fair value are set forth in the table below: June 30, 2016 December 31, 2015 June 30, 2015 (In thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Available-for-sale securities $ — $ — $ 6,534 $ — $ — $ 22,151 $ — $ — Derivative foreign currency contracts (see Note 7) — 463 — — 3,811 — — 1,396 — Interest rate swap contracts (see Note 7) — (5,126 ) — — (1,486 ) — — (1,032 ) — TOLI policies held by the Rabbi Trust — 4,650 — — 4,456 — — 4,717 — Deferred Compensation Plan obligations — (6,474 ) — — (5,072 ) — — (4,915 ) — Fair values of the financial assets and liabilities listed above are determined using inputs that use as their basis readily observable market data that are actively quoted and are validated through external sources, including third-party pricing services and brokers. The Company purchases marketable securities that are designated as available-for-sale. The foreign currency contracts represent gains and losses on derivative contracts, which is the net difference between the U.S. dollar value to be received or paid at the contracts’ settlement date and the U.S. dollar value of the foreign currency to be sold or purchased at the current market exchange rate. The interest rate swap contracts represent gains and losses on the derivative contracts, which is the net difference between the fixed interest to be paid and variable interest to be received over the term of the contract based on current market rates. The fair value of the trust owned life insurance (“TOLI”) policies held by the Rabbi Trust is based on the cash-surrender value of the life insurance policies, which are invested primarily in mutual funds and a separately managed fixed income fund. These investments are initially made in the same funds and purchased in substantially the same amounts as the selected investments of participants in the Under Armour, Inc. Deferred Compensation Plan (the “Deferred Compensation Plan”), which represent the underlying liabilities to participants in the Deferred Compensation Plan. Liabilities under the Deferred Compensation Plan are recorded at amounts due to participants, based on the fair value of participants’ selected investments. The carrying value of the Company's long term debt approximated its fair value as of June 30, 2016 and 2015 . The fair value of the Company's long term debt was estimated based upon quoted prices for similar instruments (Level 2 input).

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2016
Stock-Based Compensation	Stock-Based Compensation During the six months ended June 30, 2016 , 2.2 million performance-based restricted stock units and 0.3 million performance-based options were awarded to certain officers and key employees under the Company's Second Amended and Restated 2005 Omnibus Long-Term Incentive Plan, as amended. These performance-based restricted stock units and options have weighted average fair values of $36.30 and $36.18 , respectively, and have vesting conditions tied to the achievement of certain combined annual operating income targets for 2016 and 2017. Upon the achievement of the targets, one third of the restricted stock units and options will vest each in February 2018 , February 2019 and February 2020 . If certain lower levels of combined annual operating income for 2016 and 2017 are achieved, fewer or no restricted stock units or options will vest and the remaining restricted stock units and options will be forfeited. The Company deemed the achievement of certain operating income targets for 2016 and 2017 probable during the six months ended June 30, 2016 . The Company assesses the probability of the achievement of the remaining operating income targets at the end of each reporting period. If it becomes probable that any remaining performance targets related to these performance-based restricted stock units and options will be achieved, a cumulative adjustment will be recorded as if ratable stock-based compensation expense had been recorded since the grant date. Additional stock based compensation of up to $6.5 million would have been recorded during the six months ended June 30, 2016 , for these performance-based restricted stock units and options had the achievement of the remaining operating income targets been deemed probable. During 2015, the Company granted performance-based restricted stock units and options with vesting conditions tied to the achievement of certain combined annual operating income targets for 2015 and 2016. Additional stock based compensation of up to $6.0 million would have been recorded during the six months ended June 30, 2016 for these performance-based restricted stock units and options had the achievement of the remaining operating income targets been deemed probable. In June 2016, the Company modified its performance-based restricted stock units and options it issued in 2015 and 2016 to reduce the operating income targets as a result of the liquidation of The Sports Authority. The modification of the targets did not result in a change in the probability assessment for any of the awards and therefore there was no impact on compensation expense previously recorded or incremental compensation expense recognized for these awards.

Risk Management and Derivatives

Risk Management and Derivatives	6 Months Ended
	Jun. 30, 2016
Foreign Currency Risk Management and Derivatives	Risk Management and Derivatives Foreign Currency Risk Management The Company is exposed to gains and losses resulting from fluctuations in foreign currency exchange rates relating to transactions generated by its international subsidiaries in currencies other than their local currencies. These gains and losses are primarily driven by intercompany transactions and inventory purchases denominated in currencies other than the functional currency of the purchasing entity. From time to time, the Company may elect to enter into foreign currency contracts to reduce the risk associated with foreign currency exchange rate fluctuations on intercompany transactions and projected inventory purchases for its international subsidiaries. As of June 30, 2016 , the aggregate notional value of the Company's outstanding foreign currency contracts was $608.8 million , which was comprised of Canadian Dollar/U.S. Dollar, Euro/U.S. Dollar, Yen/Euro, Mexican Peso/Euro and Pound Sterling/Euro currency pairs with contract maturities ranging from one to eleven months . A portion of the Company's foreign currency contracts are not designated as cash flow hedges, and accordingly, changes in their fair value are recorded in earnings. The Company also enters into foreign currency contracts designated as cash flow hedges. For foreign currency contracts designated as cash flow hedges, changes in fair value, excluding any ineffective portion, are recorded in other comprehensive income until net income is affected by the variability in cash flows of the hedged transaction. The effective portion is generally released to net income after the maturity of the related derivative and is classified in the same manner as the underlying exposure. During the three and six months ended June 30, 2016 , the Company reclassified $0.1 million and $1.0 million , respectively, from other comprehensive income to cost of goods sold related to foreign currency contracts designated as cash flow hedges. The fair values of the Company's foreign currency contracts were assets of $0.5 million , $3.8 million and $1.4 million as of June 30, 2016 , December 31, 2015 and June 30, 2015 , respectively, and were included in prepaid expenses and other current assets on the consolidated balance sheet. Refer to Note 5 for a discussion of the fair value measurements. Included in other income (expense), net were the following amounts related to changes in foreign currency exchange rates and derivative foreign currency contracts: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2016 2015 2016 2015 Unrealized foreign currency exchange rate gains (losses) $ (7,387 ) $ 2,193 $ 3,861 $ (19,223 ) Realized foreign currency exchange rate gains (losses) (138 ) 2,516 459 8,857 Unrealized derivative gains (losses) (1,128 ) (287 ) (917 ) (70 ) Realized derivative gains (losses) 7,145 (4,381 ) (2,841 ) 8,637 Interest Rate Risk Management In order to maintain liquidity and fund business operations, the Company enters into long term debt arrangements with various lenders which bear a range of fixed and variable rates of interest. The nature and amount of the Company's long-term debt can be expected to vary as a result of future business requirements, market conditions and other factors. The Company may elect to enter into interest rate swap contracts to reduce the impact associated with interest rate fluctuations. The Company utilizes interest rate swap contracts to convert a portion of variable rate debt to fixed rate debt. The contracts pay fixed and receive variable rates of interest. The interest rate swap contracts are accounted for as cash flow hedges and accordingly, the effective portion of the changes in their fair value are recorded in other comprehensive income and reclassified into interest expense over the life of the underlying debt obligation. Refer to Note 3 for a discussion of long term debt. As of June 30, 2016 , the notional value of the Company's outstanding interest rate swap contracts was $ 161.9 million . During the three months ended June 30, 2016 and 2015 , the Company recorded a $0.6 million and $0.7 million increase in interest expense, respectively, representing the effective portion of the contract reclassified from accumulated other comprehensive income. During the six months ended June 30, 2016 and 2015 , the Company recorded a $1.1 million and $1.4 million increase in interest expense, respectively, representing the effective portion of the contract reclassified from accumulated other comprehensive income. The fair values of the interest rate swap contracts were liabilities of $5.1 million , $1.5 million and $1.0 million as of June 30, 2016 , December 31, 2015 and June 30, 2015 , respectively, and was included in other long term liabilities on the consolidated balance sheet. The Company enters into derivative contracts with major financial institutions with investment grade credit ratings and is exposed to credit losses in the event of non-performance by these financial institutions. This credit risk is generally limited to the unrealized gains in the derivative contracts. However, the Company monitors the credit quality of these financial institutions and considers the risk of counterparty default to be minimal.

Provision for Income Taxes

Provision for Income Taxes	6 Months Ended
	Jun. 30, 2016
Provision for Income Taxes	Provision for Income Taxes The effective rates for income taxes were 41.6% and 48.4% for the six months ended June 30, 2016 and 2015 , respectively. The effective tax rate for the six months ended June 30, 2016 was lower than the effective tax rate for the six months ended June 30, 2015 primarily due to a tax benefit related to our prior period acquisitions.

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2016
Earnings per Share	Earnings per Share The following represents a reconciliation from basic earnings per share to diluted earnings per share: Three Months Ended June 30, Six Months Ended June 30, (In thousands, except per share amounts) 2016 2015 2016 2015 Numerator Net income $ 6,344 $ 14,766 $ 25,524 $ 26,494 Adjustment payment to Class C capital stockholders 59,000 — 59,000 — Net income (loss) available to all stockholders (52,656 ) 14,766 (33,476 ) 26,494 Denominator Weighted average common shares outstanding Class A and B 217,711 215,590 217,262 215,146 Effect of dilutive securities Class A and B 3,665 4,331 4,241 4,575 Weighted average common shares and dilutive securities outstanding Class A and B 221,376 219,921 221,503 219,721 Weighted average common shares outstanding Class C 217,832 215,590 217,323 215,146 Effect of dilutive securities Class C 3,664 4,331 4,240 4,575 Weighted average common shares and dilutive securities outstanding Class C 221,496 219,921 221,563 219,721 Basic earnings per share Class A and B $ (0.12 ) $ 0.03 $ (0.08 ) $ 0.06 Basic earnings per share Class C $ 0.15 $ 0.03 $ 0.19 $ 0.06 Dilutive earnings per share Class A and B $ (0.12 ) $ 0.03 $ (0.08 ) $ 0.06 Dilutive earnings per share Class C $ 0.15 $ 0.03 $ 0.19 $ 0.06 Effects of potentially dilutive securities are presented only in periods in which they are dilutive. Stock options and restricted stock units representing 25.2 thousand and 18.6 thousand shares of Class A common stock outstanding for the three months ended June 30, 2016 and 2015 , respectively, were excluded from the computation of diluted earnings per share because their effect would have been anti-dilutive. Stock options and restricted stock units representing 49.5 thousand and 18.6 thousand shares of Class C common stock outstanding for the three months ended June 30, 2016 and 2015 , respectively, were excluded from the computation of diluted earnings per share because their effect would have been anti-dilutive. Stock options and restricted stock units representing 195.1 thousand and 436.4 thousand shares of Class A common stock outstanding for the six months ended June 30, 2016 and 2015 , respectively, were excluded from the computation of diluted earnings per share because their effect would have been anti-dilutive. Stock options and restricted stock units representing 217.5 thousand and 436.4 thousand shares of Class C common stock outstanding for the six months ended June 30, 2016 and 2015 , respectively, were excluded from the computation of diluted earnings per share because their effect would have been anti-dilutive.

Segment Data and Related Inform

Segment Data and Related Information	6 Months Ended
	Jun. 30, 2016
Segment Data and Related Information	Segment Data and Related Information The Company’s operating segments are based on how the Chief Operating Decision Maker (“CODM”) makes decisions about allocating resources and assessing performance. As such, the CODM receives discrete financial information for the Company's principal business by geographic region based on the Company’s strategy to become a global brand. These geographic regions include North America; Latin America; Europe, the Middle East and Africa (“EMEA”); and Asia-Pacific. Each geographic segment operates exclusively in one industry: the development, marketing and distribution of branded performance apparel, footwear and accessories. The CODM also receives discrete financial information for the Company's Connected Fitness business. Intersegment revenue is generated by Connected Fitness which runs advertising campaigns for the Company's e-commerce business in North America. The Company accounts for this intersegment revenue as if the sales were made to third parties making similar purchases. Due to the insignificance of the Latin America, EMEA and Asia-Pacific operating segments, they continue to be combined into International for disclosure purposes. The net revenues and operating income (loss) associated with the Company's segments are summarized in the following tables. Net revenues represent sales to external customers for each segment. In addition to net revenues, operating income (loss) is a primary financial measure used by the Company to evaluate performance of each segment. Corporate service costs are primarily included in North America and have not been allocated to International or Connected Fitness. Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2016 2015 2016 2015 Net revenues North America $ 827,132 $ 680,776 $ 1,707,727 $ 1,381,288 International 150,154 89,239 299,510 185,237 Connected Fitness 23,497 13,562 41,998 21,993 Intersegment eliminations — — (750 ) — Total net revenues $ 1,000,783 $ 783,577 $ 2,048,485 $ 1,588,518 Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2016 2015 2016 2015 Operating income (loss) North America $ 28,149 $ 52,352 $ 68,244 $ 90,721 International (1,237 ) (4,388 ) 10,012 (54 ) Connected Fitness (7,534 ) (16,063 ) (23,995 ) (31,099 ) Total operating income 19,378 31,901 54,261 59,568 Interest expense, net (5,754 ) (4,262 ) (10,286 ) (6,472 ) Other income (expense), net (2,955 ) 41 (253 ) (1,799 ) Income before income taxes $ 10,669 $ 27,680 $ 43,722 $ 51,297 Net revenues by product category are as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2016 2015 2016 2015 Apparel $ 612,840 $ 515,252 $ 1,279,411 $ 1,070,707 Footwear 242,706 153,619 506,952 314,585 Accessories 100,734 83,040 180,435 146,191 Total net sales 956,280 751,911 1,966,798 1,531,483 License revenues 21,006 18,104 40,439 35,042 Connected Fitness 23,497 13,562 41,998 21,993 Intersegment eliminations — — (750 ) — Total net revenues $ 1,000,783 $ 783,577 $ 2,048,485 $ 1,588,518

Related Party Transactions (Not

Related Party Transactions (Notes)	6 Months Ended
	Jun. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	Related Party Transactions In June 2016, the Company entered into a purchase agreement with Sagamore Development Holdings, LLC, an entity controlled by the Company’s CEO, to purchase parcels of land to be utilized to expand the Company’s corporate headquarters to accommodate its growth needs. The purchase price for these parcels totaled $70.3 million . The Company determined that the purchase price for the land represented the fair market value of the parcels and approximated the cost to the seller to purchase and develop the parcels, including costs related to the termination of a lease encumbering the parcels.

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2016
Concentration of Credit Risk	The Company identified a prior period error in the classification of available-for-sale securities (“AFS”) for the first and second quarters of 2015. The Company concluded that the error was not material to any of its previously issued financial statements. The Company has revised its financial statements to reflect the correct classification. The revision resulted in a reclassification from "Cash and cash equivalents" to "Prepaid expenses and other current assets" on the June 30, 2015 balance sheet of $22.2 million . Correspondingly, the revision resulted in the presentation of purchases and sales of AFS for the
Allowance For Doubtful Accounts	Allowance for Doubtful Accounts As of June 30, 2016 , December 31, 2015 and June 30, 2015 , the allowance for doubtful accounts was $34.4 million , $5.9 million and $5.1 million , respectively.
Shipping and Handling Costs	Shipping and Handling Costs The Company charges certain customers shipping and handling fees. These fees are recorded in net revenues. The Company includes the majority of outbound handling costs as a component of selling, general and administrative expenses. Outbound handling costs include costs associated with preparing goods to ship to customers and certain costs to operate the Company’s distribution facilities. These costs, included within selling, general and administrative expenses, were $19.3 million and $12.8 million for the three months ended June 30, 2016 and 2015 , respectively, and $39.4 million and $25.8 million for the six months ended June 30, 2016 and 2015 , respectively. The Company includes outbound freight costs associated with shipping goods to customers as a component of cost of goods sold.
Management Estimates	Management Estimates 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.

Commitments and Contingencies O

Commitments and Contingencies Operating Leases, Future Minimum Payments (Tables)	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Lease Payments for Operating Leases [Table Text Block]	The following schedule updates the information previously provided in the Company’s Form 10-K with respect to these future payments as of June 30, 2016: (In thousands) 2016 (remaining) $ 43,546 2017 86,894 2018 99,541 2019 110,170 2020 107,108 2021 and thereafter 697,322 Total future minimum lease payments $ 1,144,581

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2016
Financial Assets And (Liabilities) Measured At Fair Value	Financial assets and (liabilities) measured at fair value are set forth in the table below: June 30, 2016 December 31, 2015 June 30, 2015 (In thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Available-for-sale securities $ — $ — $ 6,534 $ — $ — $ 22,151 $ — $ — Derivative foreign currency contracts (see Note 7) — 463 — — 3,811 — — 1,396 — Interest rate swap contracts (see Note 7) — (5,126 ) — — (1,486 ) — — (1,032 ) — TOLI policies held by the Rabbi Trust — 4,650 — — 4,456 — — 4,717 — Deferred Compensation Plan obligations — (6,474 ) — — (5,072 ) — — (4,915 ) —

Risk Management and Derivativ22

Risk Management and Derivatives (Tables)	6 Months Ended
	Jun. 30, 2016
Changes in Foreign Currency Exchange Rates and Derivative Foreign Currency Forward Contracts	Included in other income (expense), net were the following amounts related to changes in foreign currency exchange rates and derivative foreign currency contracts: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2016 2015 2016 2015 Unrealized foreign currency exchange rate gains (losses) $ (7,387 ) $ 2,193 $ 3,861 $ (19,223 ) Realized foreign currency exchange rate gains (losses) (138 ) 2,516 459 8,857 Unrealized derivative gains (losses) (1,128 ) (287 ) (917 ) (70 ) Realized derivative gains (losses) 7,145 (4,381 ) (2,841 ) 8,637

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Schedule of Reconciliation of Basic Earnings per Share to Diluted Earnings per Share	The following represents a reconciliation from basic earnings per share to diluted earnings per share: Three Months Ended June 30, Six Months Ended June 30, (In thousands, except per share amounts) 2016 2015 2016 2015 Numerator Net income $ 6,344 $ 14,766 $ 25,524 $ 26,494 Adjustment payment to Class C capital stockholders 59,000 — 59,000 — Net income (loss) available to all stockholders (52,656 ) 14,766 (33,476 ) 26,494 Denominator Weighted average common shares outstanding Class A and B 217,711 215,590 217,262 215,146 Effect of dilutive securities Class A and B 3,665 4,331 4,241 4,575 Weighted average common shares and dilutive securities outstanding Class A and B 221,376 219,921 221,503 219,721 Weighted average common shares outstanding Class C 217,832 215,590 217,323 215,146 Effect of dilutive securities Class C 3,664 4,331 4,240 4,575 Weighted average common shares and dilutive securities outstanding Class C 221,496 219,921 221,563 219,721 Basic earnings per share Class A and B $ (0.12 ) $ 0.03 $ (0.08 ) $ 0.06 Basic earnings per share Class C $ 0.15 $ 0.03 $ 0.19 $ 0.06 Dilutive earnings per share Class A and B $ (0.12 ) $ 0.03 $ (0.08 ) $ 0.06 Dilutive earnings per share Class C $ 0.15 $ 0.03 $ 0.19 $ 0.06

Segment Data and Related Info24

Segment Data and Related Information (Tables)	6 Months Ended
	Jun. 30, 2016
Reconciliation of Revenue from Segments to Consolidated	Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2016 2015 2016 2015 Net revenues North America $ 827,132 $ 680,776 $ 1,707,727 $ 1,381,288 International 150,154 89,239 299,510 185,237 Connected Fitness 23,497 13,562 41,998 21,993 Intersegment eliminations — — (750 ) — Total net revenues $ 1,000,783 $ 783,577 $ 2,048,485 $ 1,588,518
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2016 2015 2016 2015 Operating income (loss) North America $ 28,149 $ 52,352 $ 68,244 $ 90,721 International (1,237 ) (4,388 ) 10,012 (54 ) Connected Fitness (7,534 ) (16,063 ) (23,995 ) (31,099 ) Total operating income 19,378 31,901 54,261 59,568 Interest expense, net (5,754 ) (4,262 ) (10,286 ) (6,472 ) Other income (expense), net (2,955 ) 41 (253 ) (1,799 ) Income before income taxes $ 10,669 $ 27,680 $ 43,722 $ 51,297
Net Revenues by Product Category	Net revenues by product category are as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2016 2015 2016 2015 Apparel $ 612,840 $ 515,252 $ 1,279,411 $ 1,070,707 Footwear 242,706 153,619 506,952 314,585 Accessories 100,734 83,040 180,435 146,191 Total net sales 956,280 751,911 1,966,798 1,531,483 License revenues 21,006 18,104 40,439 35,042 Connected Fitness 23,497 13,562 41,998 21,993 Intersegment eliminations — — (750 ) — Total net revenues $ 1,000,783 $ 783,577 $ 2,048,485 $ 1,588,518

Summary Of Significant Accoun25

Summary Of Significant Accounting Policies (Schedule Of Customers That Accounted For A Large Portion Of Net Revenues And Accounts Receivable) (Detail) - Customer A [Member]	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Net Revenues [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	11.10%	12.10%
Accounts Receivable [Member]
Concentration Risk [Line Items]
Concentration Credit Risk, Percentage	18.30%	20.80%	18.70%

Summary Of Significant Accoun26

Summary Of Significant Accounting Policies (Narrative) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Mar. 17, 2015	Jan. 05, 2015
Summary Of Significant Accounting Policies [Line Items]
Dividends	$ 59,000
Dividends Paid, Cash			$ (2,927)	$ 0
Allowance for doubtful accounts receivable	34,400	$ 5,100	34,400	5,100	$ 5,900
Shipping and handling costs	19,300	12,800	39,400	25,800
Payments to Acquire Available-for-sale Securities			24,230	41,556
Proceeds from Sale of Available-for-sale Securities, Equity			30,712	19,405
Endomondo [Member]
Summary Of Significant Accounting Policies [Line Items]
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage							100.00%
MyFitnessPal [Member]
Summary Of Significant Accounting Policies [Line Items]
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage						100.00%
Cash and Cash Equivalents [Member] | Prepaid Expenses and Other Current Assets [Member]
Summary Of Significant Accounting Policies [Line Items]
Prior Period Reclassification Adjustment				22,200
Deferred Income Taxes Current [Member] | Deferred Income Taxes Long Term [Member]
Summary Of Significant Accounting Policies [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Net Assets had the Company Adopted the Guidance Retrospectively		71,600		71,600
Other Noncurrent Assets [Member] | Long-term Debt [Member]
Summary Of Significant Accounting Policies [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Prior Period Disclosures, Balance Sheet Reclassification Adjustment		3,400		3,400	$ 2,900
Common Class C [Member]
Summary Of Significant Accounting Policies [Line Items]
Dividends	$ 59,000	$ 0	$ 59,000	$ 0
Stock Dividends, Shares	1,470,256
The Sports Authority [Member]
Summary Of Significant Accounting Policies [Line Items]
Allowance for Doubtful Accounts Receivable, Period Increase (Decrease)	$ 21,400

Credit Facility And Long Term27

Credit Facility And Long Term Debt (Detail) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Dec. 31, 2012	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2012	Dec. 31, 2015
Debt Disclosure [Line Items]
Long term debt, net of current maturities		$ 838,116	$ 669,654	$ 838,116	$ 669,654		$ 624,070
Letters of Credit Outstanding, Amount		1,400		$ 1,400
Commitment fee as percentage of the committed line amount less outstanding borrowings and letters of credit				15.00%
Senior Notes		600,000		$ 600,000
Repayments of Long-term Debt				807,250	18,461
Interest Income (Expense), Net		$ (5,754)	(4,262)	$ (10,286)	$ (6,472)
LIBOR Rate [Member]
Debt Disclosure [Line Items]
Interest rate margin, minimum		1.00%		1.00%
Interest rate margin, maximum		1.25%		1.25%
Prime Rate [Member]
Debt Disclosure [Line Items]
Interest rate margin, minimum		0.00%		0.00%
Interest rate margin, maximum		0.25%		0.25%
Letter of Credit [Member]
Debt Disclosure [Line Items]
Credit facility maximum borrowing capacity		$ 50,000		$ 50,000
Senior Notes [Member]
Debt Disclosure [Line Items]
Debt Issuance Costs, Line of Credit Arrangements, Gross		$ 5,300		$ 5,300
Debt Instrument, Interest Rate, Stated Percentage		3.25%		3.25%
Debt Instrument, Maturity Date				Jun. 15, 2026
March 2015 Credit Agreement [Member]
Debt Disclosure [Line Items]
Debt Instrument, Maturity Date					May 1, 2019
January 2016 Credit Agreement [Member]
Debt Disclosure [Line Items]
Debt Instrument, Maturity Date				Jan. 1, 2021
Term Loan Facility [Member]
Debt Disclosure [Line Items]
Weighted Average Interest Rate		1.57%		1.56%
Long term debt agreements principal outstanding		$ 198,800		$ 198,800
Revolving Credit Facility [Member]
Debt Disclosure [Line Items]
Credit facility maximum borrowing capacity		1,250,000		1,250,000			800,000
Long term debt, net of current maturities		$ 35,000		$ 35,000
Weighted Average Interest Rate		1.57%		1.56%
Debt Issuance Costs, Line of Credit Arrangements, Gross		$ 3,900		$ 3,900
Long term debt agreements principal outstanding		185,000		185,000
Secured Debt [Member]
Debt Disclosure [Line Items]
Debt Facility Term Period	7 years
Debt Instrument, Maturity Date	Dec. 1, 2019
Secured Debt	$ 50,000	$ 43,000	$ 45,000	$ 43,000	$ 45,000	$ 50,000	$ 44,000
Secured Debt [Member] | LIBOR Rate [Member]
Debt Disclosure [Line Items]
Debt Instrument, Basis Spread on Variable Rate						1.50%
Debt [Member]
Debt Disclosure [Line Items]
Line of Credit Facility, Covenant Terms				3.25
EBITDA [Member]
Debt Disclosure [Line Items]
Line of Credit Facility, Covenant Terms				1
EBITDA [Member]
Debt Disclosure [Line Items]
Line of Credit Facility, Covenant Terms				3.50
Interest Expense [Member]
Debt Disclosure [Line Items]
Line of Credit Facility, Covenant Terms				1

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2016USD ($)
Other Commitments [Line Items]
Operating Leases, Future Minimum Payments Due, Next Six Months	$ 43,546
Operating Leases, Maximum Termination Date	2,031
Operating Leases, Future Minimum Payments, Due in Two Years	$ 86,894
Operating Leases, Future Minimum Payments, Due in Rolling Year Three	99,541
Operating Leases, Future Minimum Payments, Due in Four Years	110,170
Operating Leases, Future Minimum Payments, Due in Five Years	107,108
Operating Leases, Future Minimum Payments, Due Thereafter	697,322
Operating Leases, Future Minimum Payments Due	$ 1,144,581

Fair Value Measurements (Financ

Fair Value Measurements (Financial Assets And (Liabilities) Measured At Fair Value) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	$ 0	$ 22,151	$ 0	$ 22,151	$ 6,534
Foreign Currency Contract, Asset, Fair Value Disclosure	0	0	0	0	0
TOLI policies held by the Rabbi Trust	0	0	0	0	0
Deferred Compensation Plan obligations	0	0	0	0	0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities		0		0	0
Foreign Currency Contract, Asset, Fair Value Disclosure	463	1,396	463	1,396	3,811
TOLI policies held by the Rabbi Trust	4,650	4,717	4,650	4,717	4,456
Deferred Compensation Plan obligations	(6,474)	(4,915)	(6,474)	(4,915)	(5,072)
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale Securities	0	0	0	0	0
Foreign Currency Contract, Asset, Fair Value Disclosure	0	0	0	0	0
TOLI policies held by the Rabbi Trust	0	0	0	0	0
Deferred Compensation Plan obligations	0	0	0	0	0
Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Net	600	700	1,100	1,400
Interest Rate Swap [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest Rate Derivatives, at Fair Value, Net	0	0	0	0	0
Interest Rate Swap [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest Rate Derivatives, at Fair Value, Net	(5,126)	(1,032)	(5,126)	(1,032)	(1,486)
Interest Rate Swap [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest Rate Derivatives, at Fair Value, Net	$ 0	$ 0	$ 0	$ 0	$ 0

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015
Fair Value, Inputs, Level 1 [Member]
Debt Instrument [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure	$ 0	$ 0	$ 0

Stock-Based Compensation (Detai

Stock-Based Compensation (Detail) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)$ / sharesshares
Performance-Based Restricted Stock Units Granted in 2015 [Domain]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares	2.2
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares	$ 36.30
Performance-Based Options Granted in 2015 [Domain]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares	0.3
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares	$ 36.18
Performance-Based Awards Granted in 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional stock-based compensation that would have been recorded if operating income targets had been deemed probable | $	$ 6.5
Performance-Based Awards Granted in 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Additional stock-based compensation that would have been recorded if operating income targets had been deemed probable | $	$ 6
Stock Vesting In February Two Thousand Eighteen [Domain] | Performance-Based Awards Granted in 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Annual Vesting Percentage	33.33%
Stock Vesting In February Two Thousand Nineteen [Domain] | Performance-Based Awards Granted in 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Annual Vesting Percentage	33.33%
Stock Vesting In February Two Thousand Twenty [Domain] | Performance-Based Awards Granted in 2016 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Annual Vesting Percentage	33.33%

Risk Management And Derivativ32

Risk Management And Derivatives (Narrative) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Derivative [Line Items]
Maturity of foreign currency forward contract			11 months
Foreign Currency Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	$ 100		$ 1,000
Notional Amount of Interest Rate Derivatives	608,800		$ 608,800
Derivative, Lower Remaining Maturity Range			1 month
Interest Rate Swap [Member]
Derivative [Line Items]
Notional Amount of Interest Rate Derivatives	161,900		$ 161,900
Derivative Instruments, Gain (Loss) Recognized in Income, Net	600	$ 700	1,100	$ 1,400
Fair Value, Inputs, Level 2 [Member]
Derivative [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure	463	1,396	463	1,396	$ 3,811
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Interest Rate Derivatives, at Fair Value, Net	$ (5,126)	$ (1,032)	$ (5,126)	$ (1,032)	$ (1,486)

Risk Management And Derivativ33

Risk Management And Derivatives (Changes In Foreign Currency Exchange Rates And Derivative Foreign Currency Forward Contracts) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Foreign Currency Exchange Gain Loss [Line Items]
Maturity of foreign currency forward contract			11 months
Unrealized foreign currency exchange rate gains (losses)	$ (7,387)	$ 2,193	$ 3,861	$ (19,223)
Realized foreign currency exchange rate gains (losses)	(138)	2,516	459	8,857
Unrealized derivative gains (losses)	(1,128)	(287)	(917)	(70)
Realized derivative gains (losses)	7,145	(4,381)	(2,841)	8,637
Fair Value, Inputs, Level 2 [Member]
Foreign Currency Exchange Gain Loss [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure	$ 463	$ 1,396	$ 463	$ 1,396	$ 3,811

Provision For Income Taxes (Det

Provision For Income Taxes (Detail)	6 Months Ended
	Jun. 30, 2016Rate	Jun. 30, 2015Rate
Provision For Income Taxes [Line Items]
Effective tax rate	41.60%	48.40%

Earnings Per Share (Schedule Of

Earnings Per Share (Schedule Of Reconciliation Of Basic Earnings Per Share To Diluted Earnings Per Share) (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income	$ 6,344	$ 14,766	$ 25,524	$ 26,494
Dividends	59,000
Net Income (Loss) Attributable to Parent after Dividends Paid	(52,656)	14,766	(33,476)	26,494
Common Class C [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Dividends	$ 59,000	$ 0	$ 59,000	$ 0
Weighted Average Number of Shares Outstanding, Basic	217,832,000	215,590,000	217,323,000	215,146,000
Effect of dilutive securities	3,664,000	4,331,000	4,240,000	4,575,000
Weighted Average Number of Shares Outstanding, Diluted	221,496,000	219,921,000	221,563,000	219,721,000
Earnings per share - basic	$ 0.15	$ 0.03	$ 0.19	$ 0.06
Earnings per share - diluted	$ 0.15	$ 0.03	$ 0.19	$ 0.06
Class A Common Stock And Class B Convertible Common Stock [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Weighted Average Number of Shares Outstanding, Basic	217,711,000	215,590,000	217,262,000	215,146,000
Effect of dilutive securities	3,665,000	4,331,000	4,241,000	4,575,000
Weighted Average Number of Shares Outstanding, Diluted	221,376,000	219,921,000	221,503,000	219,721,000
Earnings per share - basic	$ (0.12)	$ 0.03	$ (0.08)	$ 0.06
Earnings per share - diluted	$ (0.12)	$ 0.03	$ (0.08)	$ 0.06

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Class A Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from the computation of diluted earnings per share	25,200	18,600	195,100	436,400
Common Class C [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from the computation of diluted earnings per share	49,500	18,600	217,500	436,400

Segment Data And Related Info37

Segment Data And Related Information (Geographic Distribution Of The Company's Net Revenues And Operating Income) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting Information [Line Items]
Net revenues	$ 1,000,783	$ 783,577	$ 2,048,485	$ 1,588,518
Total operating income	19,378	31,901	54,261	59,568
Interest Income (Expense), Net	(5,754)	(4,262)	(10,286)	(6,472)
Other income (expense), net	(2,955)	41	(253)	(1,799)
Income before income taxes	10,669	27,680	43,722	51,297
North America [Member]
Segment Reporting Information [Line Items]
Net revenues	827,132	680,776	1,707,727	1,381,288
Total operating income	28,149	52,352	68,244	90,721
Other Foreign Countries [Member]
Segment Reporting Information [Line Items]
Net revenues	150,154	89,239	299,510	185,237
Total operating income	(1,237)	(4,388)	10,012	(54)
Connected Fitness [Member]
Segment Reporting Information [Line Items]
Net revenues	23,497	13,562	41,998	21,993
Total operating income	(7,534)	(16,063)	(23,995)	(31,099)
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net revenues	$ 0	$ 0	$ (750)	$ 0

Segment Data And Related Info38

Segment Data And Related Information (Net Revenues By Product Category) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Segment Reporting Information [Line Items]
Total net sales	$ 956,280	$ 751,911	$ 1,966,798	$ 1,531,483
License revenues	21,006	18,104	40,439	35,042
Net revenues	1,000,783	783,577	2,048,485	1,588,518
Apparel [Member]
Segment Reporting Information [Line Items]
Total net sales	612,840	515,252	1,279,411	1,070,707
Footwear [Member]
Segment Reporting Information [Line Items]
Total net sales	242,706	153,619	506,952	314,585
Accessories [Member]
Segment Reporting Information [Line Items]
Total net sales	100,734	83,040	180,435	146,191
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Total net sales	0	0	(750)	0
Net revenues	0	0	(750)	0
Connected Fitness [Member]
Segment Reporting Information [Line Items]
Total net sales	23,497	13,562	41,998	21,993
Net revenues	$ 23,497	$ 13,562	$ 41,998	$ 21,993

Related Party Transactions (Det

Related Party Transactions (Details) $ in Millions	3 Months Ended
	Jun. 30, 2016USD ($)
Related Party Transactions [Abstract]
Related Party Transaction, Purchases from Related Party	$ 70.3