Under Armour (UA) 10-Q 8 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 31, 2017
Entity Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
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		184,950,498
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		221,587,784

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Assets
Cash and cash equivalents	$ 165,685	$ 250,470	$ 121,216
Accounts receivable, net	602,795	622,685	460,955
Inventories	1,168,786	917,491	1,086,749
Prepaid expenses and other current assets	229,204	174,507	180,265
Total current assets	2,166,470	1,965,153	1,849,185
Property and equipment, net	875,005	804,211	712,873
Goodwill	580,446	563,591	580,301
Intangible assets, net	59,866	64,310	70,689
Deferred income taxes	125,358	136,862	118,053
Other long term assets	87,099	110,204	95,823
Total assets	3,894,244	3,644,331	3,426,924
Liabilities and Stockholders' Equity
Line of Credit Facility, Amount Outstanding, Current	150,000	0	150,000
Accounts payable	483,210	409,679	332,060
Accrued expenses	232,680	208,750	170,226
Current maturities of long term debt	27,000	27,000	27,000
Other current liabilities	43,649	40,387	30,068
Total current liabilities	936,539	685,816	709,354
Long term debt, net of current maturities	777,717	790,388	838,116
Other long term liabilities	156,217	137,227	108,106
Total liabilities	1,870,473	1,613,431	1,655,576
Stockholders' equity
Additional paid-in capital	852,230	823,484	787,091
Retained earnings	1,218,426	1,259,414	1,029,371
Accumulated other comprehensive income	(47,032)	(52,143)	(45,260)
Total stockholders' equity	2,023,771	2,030,900	1,771,348
Total liabilities and stockholders' equity	3,894,244	3,644,331	3,426,924
Class A Common Stock [Member]
Stockholders' equity
Common Stock	62	61	62
Class B Convertible Common Stock [Member]
Stockholders' equity
Common Stock	11	11	11
Common Class C [Member]
Stockholders' equity
Common Stock	$ 74	$ 73	$ 73

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Class A Common Stock [Member]
Common Stock, Par or Stated Value Per Share	$ 0.0003	$ 0.0003	$ 0.0003
Common Stock, Shares, Outstanding	184,938,771	183,814,911	183,388,910
Common Stock, Shares Authorized	400,000,000	400,000,000	400,000,000
Common Stock, Shares, Issued	184,938,771	183,814,911	183,388,910
Class B Convertible Common Stock [Member]
Common Stock, Par or Stated Value Per Share	$ 0.0003	$ 0.0003	$ 0.0003
Common Stock, Shares, Outstanding	34,450,000	34,450,000	34,450,000
Common Stock, Shares Authorized	34,450,000	34,450,000	34,450,000
Common Stock, Shares, Issued	34,450,000	34,450,000	34,450,000
Common Class C [Member]
Common Stock, Par or Stated Value Per Share	$ 0.0003	$ 0.0003	$ 0.0003
Common Stock, Shares, Outstanding	221,533,813	220,174,048	219,454,106
Common Stock, Shares Authorized	400,000,000	400,000,000	400,000,000
Common Stock, Shares, Issued	221,533,813	220,174,048	219,454,106

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenue, Net	$ 1,088,245	$ 1,000,783	$ 2,205,576	$ 2,048,485
Cost of goods sold	589,999	523,136	1,201,907	1,090,202
Gross profit	498,246	477,647	1,003,669	958,283
Selling, general and administrative expenses	503,031	458,269	1,000,918	904,022
Income from operations	(4,785)	19,378	2,751	54,261
Interest Income (Expense), Net	(7,840)	(5,754)
Other income (expense), net	(2,884)	(2,955)	(313)	(253)
Income before income taxes	(15,510)	10,669	(13,224)	43,722
Provision for income taxes	(3,202)	4,325	1,357	18,198
Net income	(12,308)	6,344	(14,581)	25,524
Net Income (Loss) Attributable to Parent after Dividends Paid	(12,308)	(52,656)	(14,581)	(33,476)
Dividends		59,000
Common Class C [Member]
Dividends	$ 0	$ (59,000)	$ 0	$ 59,000
Net income available per common share
Basic	$ (0.03)	$ 0.15	$ (0.03)	$ 0.19
Diluted	$ (0.03)	$ 0.15	$ (0.03)	$ 0.19
Weighted average common shares outstanding
Weighted Average Number of Shares Outstanding, Basic	221,255,000	217,832,000	220,956,000	217,323,000
Diluted	221,255,000	221,496,000	220,956,000	221,563,000
Class A Common Stock And Class B Convertible Common Stock [Member]
Net income available per common share
Basic	$ (0.03)	$ (0.12)	$ (0.03)	$ (0.08)
Diluted	$ (0.03)	$ (0.12)	$ (0.03)	$ (0.08)
Weighted average common shares outstanding
Weighted Average Number of Shares Outstanding, Basic	219,168,000	217,711,000	218,938,000	217,262,000
Diluted	219,168,000	221,376,000	218,938,000	221,503,000

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Net income	$ (12,308)	$ 6,344	$ (14,581)	$ 25,524
Other comprehensive income:
Foreign currency translation adjustment	5,364	(3,177)	15,183	4,265
Unrealized gain on cash flow hedge, net of tax	(4,896)	1,745	(11,790)	(4,512)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	711	0	1,718	0
Total other comprehensive income	1,179	(1,432)	5,111	(247)
Comprehensive income	$ (11,129)	$ 4,912	$ (9,470)	$ 25,277

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax	$ (2,112,000)	$ 344,000	$ (4,500)	$ (2,400)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities
Net income	$ (14,581)	$ 25,524
Adjustments to reconcile net income to net cash used in operating activities
Depreciation and amortization	83,367	67,737
Unrealized foreign currency exchange rate (gains) losses	(29,393)	(3,861)
Loss on disposal of property and equipment	715	463
Amortization of Debt Discount (Premium)	127	0
Stock-based compensation	24,776	28,623
Excess Tax Benefit from Share-based Compensation, Operating Activities	1,062	37,138
Deferred Income Taxes and Tax Credits	13,735	(23,739)
Changes in reserves and allowances	(8,581)	53,551
Changes in operating assets and liabilities:
Accounts receivable	33,787	(74,566)
Inventories	(227,190)	(296,654)
Prepaid expenses and other assets	(12,541)	3,786
Increase (Decrease) in Other Noncurrent Assets	451	0
Accounts payable	84,391	145,896
Accrued expenses and other liabilities	33,426	(18,833)
Income taxes payable and receivable	(46,320)	(42,980)
Net cash used in operating activities	(62,769)	(97,915)
Cash flows from investing activities
Purchase of property and equipment	(167,273)	(184,018)
Payments to Acquire Property, Plant, and Equipment from Related Parties	0	70,288
Payments to Acquire Available-for-sale Securities	0	(24,230)
Proceeds from Sale of Available-for-sale Securities, Equity	0	30,712
Payments to Acquire Productive Assets	0	715
Net cash used in investing activities	(167,273)	(248,539)
Cash flows from financing activities
Payment on Term Loan	380,000	1,162,474
Payments on long term debt	(243,500)	(807,250)
Excess tax benefits from stock-based compensation arrangements	(2,474)	(13,685)
Proceeds from exercise of stock options and other stock issuances	6,638	7,600
Payments of deferred financing costs	0	(5,250)
Payments for Previous Acquisition	0	2,424
Dividends Paid, Cash	0	(2,927)
Net cash provided by financing activities	140,664	338,538
Effect of exchange rate changes on cash and cash equivalents	4,593	(720)
Net decrease in cash and cash equivalents	(84,785)	(8,636)
Cash and cash equivalents
Beginning of period	250,470	129,852
End of period	165,685	121,216
Noncash or Part Noncash Acquisition, Fixed Assets Acquired	(23,811)	(14,662)
Non-cash Dividends Paid	$ 0	$ (56,073)

Description of the Business

Description of the Business	6 Months Ended
	Jun. 30, 2017
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, 2017
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, 2016 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, 2016 (the “ 2016 Form 10-K”), which should be read in conjunction with these consolidated financial statements. The results for the three and six months ended June 30, 2017, are not necessarily indicative of the results to be expected for the year ending December 31, 2017 or any other portions thereof. 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. 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 retailers. Credit is extended based on an evaluation of each customer’s financial condition and collateral is not required. The Company's largest customer accounted for 19.4% , 16.1% and 18.3% of accounts receivable as of June 30, 2017 , December 31, 2016 and June 30, 2016 , respectively. For the six months ended June 30, 2017 , no customer accounted for more than 10% of the Company's net revenues. For the six months ended June 30, 2016 , the Company's largest customer accounted for 11.1% of net revenues. Allowance for Doubtful Accounts As of June 30, 2017 , December 31, 2016 and June 30, 2016 , the allowance for doubtful accounts was $13.2 million , $11.3 million and $34.4 million , respectively. 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 $24.2 million and $19.3 million for the three months ended June 30, 2017 and 2016 , respectively, and $48.9 million and $39.4 million , for the six months ended June 30, 2017 and 2016 , 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 will adopt the guidance in this new ASU effective January 1, 2018, and has not yet determined its adoption method. While the Company has made progress on its scoping review and assessment phase, it is still evaluating the impact this ASU will have on its financial statements and related disclosures. At this time the Company’s key areas of focus include wholesale customer support costs, direct to consumer incentive programs and presentation of customer related returns reserves on the balance sheet. 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. The Company currently anticipates adopting the new standard effective January 1, 2019. The Company has formed a committee and initiated the review process for adoption of this ASU. While the Company is still in the process of completing its analysis on the complete impact this ASU will have on its consolidated financial statements and related disclosures, it expects the ASU to have a material impact on its consolidated balance sheet for recognition of lease-related assets and liabilities. In January 2017, the FASB issued ASU 2017-04, which simplifies how an entity is required to test goodwill for impairment by eliminating step two of the test. This ASU is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years, with early adoption permitted for annual or goodwill impairment tests performed on testing dates after January 1, 2017. The Company has not yet decided if it will early adopt the provisions in this ASU for its annual goodwill impairment test as of September 30, 2017. Recently Adopted Accounting Standards In March 2016, the FASB issued ASU 2016-09, which affects 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 and the classification of those taxes paid on the statement of cash flows. The Company adopted the provisions of this ASU on January 1, 2017 on a prospective basis and recorded an excess tax deficiency of $1.3 million as an increase in income tax expense related to share-based compensation for vested awards. Additionally, the Company made a policy election under the provisions of this ASU to account for forfeitures when they occur rather than estimating the number of awards that are expected to vest. As a result of this election, the Company recorded a $1.9 million cumulative-effect benefit to retained earnings as of the date of adoption. The Company adopted the provisions of this ASU related to changes on the Consolidated Statement of Cash Flows on a retrospective basis. Excess tax benefits and deficiencies have been classified within cash flows from operating activities and employee taxes paid for shares withheld for income taxes have been classified within cash flows from financing activities on the Consolidated Statement of Cash Flows. This resulted in an increase of $37.1 million and a decrease of $13.7 million to the cash flows from operating activities and cash flows from financing activities sections of the Consolidated Statement of Cash Flows for the six months ended June 30, 2016, respectively. In October 2016, the FASB issued ASU 2016-16, which requires an entity to recognize the income tax consequences of an intra-entity transfer of an asset, other than inventory, when the transfer occurs. The Company adopted the provisions of this ASU on a modified retrospective basis on January 1, 2017 resulting in a cumulative-effect benefit to retained earnings of $26.0 million as of the date of adoption.

Credit Facility and Long Term D

Credit Facility and Long Term Debt	6 Months Ended
	Jun. 30, 2017
Credit Facility and Long Term Debt	Long Term Debt Credit Facility The Company is party to a credit agreement that provides revolving credit commitments for up to $1.25 billion of borrowings, as well as term loan commitments, in each case maturing in January 2021 . As of June 30, 2017 , there was $150.0 million outstanding under the revolving credit facility and $173.8 million of term loan borrowings outstanding. At the Company's request and the lender's consent, revolving and or term loan borrowings may be increased by up to $300.0 million in aggregate, subject to certain conditions as set forth in the credit agreement, as amended. Incremental borrowings are uncommitted and the availability thereof will depend on market conditions at the time the Company seeks to incur such borrowings. The borrowings under the revolving credit facility have maturities of less than one year. Up to $50.0 million of the facility may be used for the issuance of letters of credit. There were $3.7 million of letters of credit outstanding as of June 30, 2017 . 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, 2017 , 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 rates under the outstanding term loans and revolving credit facility borrowings were 2.2% and 2.0% during the three and six months ended June 30, 2017 , 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, 2017 , 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, 2017 , December 31, 2016 and June 30, 2016 , the outstanding balance on the loan was $41.0 million , $42.0 million and $43.0 million , respectively. The weighted average interest rate on the loan was 2.50% and 2.40% for the three and six months ended June 30, 2017 , respectively. Interest expense, net was $7.8 million and $5.8 million for the three months ended June 30, 2017 and 2016 , respectively, and $15.7 million and $10.3 million for the six months ended June 30, 2017 , and 2016 , 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 monitor s 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, 2017
Commitments and Contingencies	Commitments and Contingencies There were no significant changes to the contractual obligations reported in the 2016 Form 10-K other than those 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. Other than as described below, 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. On March 23, 2017, three separate securities cases previously filed against the Company in the United States District Court for the District of Maryland were consolidated under the caption In re Under Armour Securities Litigation , Case No. 17-cv-00388-RDB (the “Consolidated Action”). On August 4, 2017, the lead plaintiff in the Consolidated Action, North East Scotland Pension Fund (“NESFP”), filed a consolidated amended complaint (the “Amended Complaint”) against the Company, the Company’s Chief Executive Officer and former Chief Financial Officers, Lawrence Molloy and Brad Dickerson. The Amended Complaint alleges violations of Section 10(b) (and Rule 10b-5) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and Section 20(a) control person liability under the Exchange Act against the officers named in the Amended Complaint, claiming that the defendants made material misstatements and omissions regarding, among other things, the Company's growth and consumer demand for certain of the Company's products. The class period identified in the Amended Complaint is September 16, 2015 through January 30, 2017. A new plaintiff, Bucks County Employees Retirement Fund (“Bucks County”), joined NESFP in filing the Amended Complaint. In addition to joining the claims noted above, Bucks County also asserts claims under Sections 11 and 15 of the Securities Act of 1933, as amended (the “Securities Act”), in connection with the Company’s public offering of senior unsecured notes in June 2016. The Securities Act claims are asserted against the Company, the Company’s Chief Executive Officer, Mr. Molloy, the Company’s directors who signed the registration statement pursuant to which the offering was made and the underwriters that participated in the offering. Bucks County alleges that the offering materials utilized in connection with the offering contained false and/or misleading statements and omissions regarding, among other things, the Company’s growth and consumer demand for certain of the Company’s products. The Company believes that the claims asserted in the Consolidated Action are without merit and intends to defend the lawsuit vigorously. However, because of the inherent uncertainty as to the outcome of this proceeding, the Company is unable at this time to estimate the possible impact of the outcome of this matter.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2017
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, 2017 December 31, 2016 June 30, 2016 (In thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Derivative foreign currency contracts (see Note 8) — (4,554 ) — — 15,238 — — 463 — Interest rate swap contracts (see Note 8) — (35 ) — — (420 ) — — (5,126 ) — TOLI policies held by the Rabbi Trust — 5,258 — — 4,880 — — 4,650 — Deferred Compensation Plan obligations — (8,753 ) — — (7,023 ) — — (6,474 ) — 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. As of June 30, 2017 , the fair value of the Company's Senior Notes was $562.4 million , and as of June 30, 2016, the carrying value approximated the fair value. The carrying value of the Company's other long term debt approximated its fair value as of June 30, 2017 and 2016 . The fair value of long-term debt is estimated based upon quoted prices for similar instruments or quoted prices for identical instruments in inactive markets (Level 2).

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2017
Stock-Based Compensation	Stock-Based Compensation During the six months ended June 30, 2017 , 3.2 million time-based restricted stock units, 0.2 million time-based stock options, 1.3 million performance-based restricted stock units and 0.5 million performance-based stock options for shares of our Class C common stock were awarded to certain officers and key employees under the Company's Second Amended and Restated 2005 Omnibus Long-Term Incentive Plan, as amended. The time-based restricted stock units and options have weighted average grant date fair values of $19.03 and $8.17 , respectively, and vest in four equal annual installments. The performance-based restricted stock units and options have weighted average grant date fair values of $19.02 and $8.17 , respectively, and have vesting conditions tied to the achievement of certain combined annual revenue and operating income targets for 2017 and 2018. Upon the achievement of the targets, one half of the restricted stock units and options will vest each in February 2019 and February 2020 . If certain lower levels of combined annual revenue and operating income for 2017 and 2018 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 2017 and 2018 probable during the six months ended June 30, 2017 . 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 $2.3 million would have been recorded during the six months ended June 30, 2017 , for these performance-based restricted stock units and options had the achievement of the remaining revenue and operating income targets been deemed probable. During 2016, 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 2016 and 2017. As of June 30, 2017 , the Company deems the achievement of these operating income targets improbable. As such, no expense for these awards has been recorded during the three and six months ended June 30, 2017.

Risk Management and Derivatives

Risk Management and Derivatives	6 Months Ended
	Jun. 30, 2017
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, 2017 , the aggregate notional value of the Company's outstanding foreign currency contracts was $540.5 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 fourteen 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, 2017 , the Company reclassified $0.9 million and $1.7 million from other comprehensive income to cost of goods sold related to foreign currency contracts designated as cash flow hedges, respectively. The fair values of the Company's foreign currency contracts were a liability of $4.6 million as of June 30, 2017 , and were included in accrued expenses on the consolidated balance sheet. The fair values of the Company's foreign currency contracts were assets of $15.2 million and $0.5 million as of December 31, 2016 and June 30, 2016 , respectively, and were included in prepaid expenses and other current assets on the consolidated balance sheet. Refer to Note 6 for a discussion of the fair value measurements. Included in other 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) 2017 2016 2017 2016 Unrealized foreign currency exchange rate gains (losses) $ 21,080 $ (7,387 ) $ 29,393 $ 3,861 Realized foreign currency exchange rate gains (losses) (2,084 ) (138 ) (2,356 ) 459 Unrealized derivative gains (losses) (521 ) (1,128 ) (1,225 ) (917 ) Realized derivative gains (losses) (16,425 ) 7,145 (22,790 ) (2,841 ) 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. 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 4 for a discussion of long term debt. As of June 30, 2017 , the notional value of the Company's outstanding interest rate swap contracts was $144.4 million . During the three months ended June 30, 2017 and 2016 , the Company recorded a $0.3 million and $0.6 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, 2017 and 2016 , the Company recorded a $0.6 million and $1.1 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 less than $0.1 million as of June 30, 2017 , and were included in other long term liabilities on the consolidated balance sheet. The fair values of the interest rate swap contracts were liabilities of $5.1 million as of June 30, 2016 , and were 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, 2017
Provision for Income Taxes	Provision for Income Taxes Provision for income taxes decreased $16.8 million to $1.4 million during the six months ended June 30, 2017 from $18.2 million during the same period in 2016 . For the six months ended June 30, 2017 , the Company's effective tax rate was (10.3)% compared to 41.6% for the same period in 2016 . The effective tax rate for the six months ended June 30, 2017 was lower than the effective tax rate for the six months ended June 30, 2016 primarily due to reserves for net operating losses in foreign markets which are discrete events in the period .

Earnings per Share

Earnings per Share	6 Months Ended
	Jun. 30, 2017
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) 2017 2016 2017 2016 Numerator Net income (loss) $ (12,308 ) $ 6,344 $ (14,581 ) $ 25,524 Adjustment payment to Class C capital stockholders — 59,000 — 59,000 Net loss available to all stockholders $ (12,308 ) $ (52,656 ) $ (14,581 ) $ (33,476 ) Denominator Weighted average common shares outstanding Class A and B 219,168 217,711 218,938 217,262 Effect of dilutive securities Class A and B — 3,665 — 4,241 Weighted average common shares and dilutive securities outstanding Class A and B 219,168 221,376 218,938 221,503 Weighted average common shares outstanding Class C 221,255 217,832 220,956 217,323 Effect of dilutive securities Class C — 3,664 — 4,240 Weighted average common shares and dilutive securities outstanding Class C 221,255 221,496 220,956 221,563 Basic net loss per share of Class A and B common stock $ (0.03 ) $ (0.12 ) $ (0.03 ) $ (0.08 ) Basic net income (loss) per share of Class C common stock $ (0.03 ) $ 0.15 $ (0.03 ) $ 0.19 Diluted net loss per share of Class A and B common stock $ (0.03 ) $ (0.12 ) $ (0.03 ) $ (0.08 ) Diluted net income (loss) per share of Class C common stock $ (0.03 ) $ 0.15 $ (0.03 ) $ 0.19 Effects of potentially dilutive securities are presented only in periods in which they are dilutive. As the Company incurred net losses for the three and six months ended June 30, 2017 , there were no warrants, stock options or restricted stock units included in the computation of diluted earnings per share, as their effect would have been anti-dilutive. For the three months ended June 30, 2016 , stock options and restricted stock units representing 25.2 thousand shares of Class A common stock outstanding and 49.5 thousand shares of Class C common stock outstanding were excluded from the computation of diluted earnings per share because their effect would have been anti-dilutive. For the six months ended June 30, 2016 , stock options and restricted stock units representing 195.1 thousand shares of Class A common stock outstanding and 217.5 thousand shares of Class C common stock outstanding 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, 2017
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. 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. Intercompany balances were eliminated for separate disclosure. The majority of corporate service costs within North America have not been allocated to the Company's other segments. As the Company continues to grow its business outside of North America, a larger portion of its corporate overhead costs have begun to support global functions. Due to the individual materiality of our Asia-Pacific segment, the Company has separately presented its Asia-Pacific, EMEA and Latin America segments, and will no longer combine these segments for presentation purposes. Net revenues and operating income by segment presented for prior periods have been conformed to the current presentation. Total expenditures for additions to long-lived assets are not disclosed as this information is not regularly provided to the CODM. Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2017 2016 2017 2016 Net revenues North America $ 829,805 $ 827,132 $ 1,701,076 $ 1,707,727 EMEA 103,896 66,193 206,751 132,460 Asia-Pacific 93,574 49,553 179,392 103,175 Latin America 38,001 34,408 76,455 63,875 Connected Fitness 22,969 23,497 41,902 41,998 Intersegment eliminations — — — (750 ) Total net revenues $ 1,088,245 $ 1,000,783 $ 2,205,576 $ 2,048,485 Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2017 2016 2017 2016 Operating income (loss) North America $ (5,417 ) $ 28,149 $ (1,703 ) $ 68,244 EMEA (4,616 ) (2,956 ) (2,987 ) (35 ) Asia-Pacific 15,249 9,913 34,877 27,247 Latin America (8,093 ) (8,194 ) (15,952 ) (17,200 ) Connected Fitness (1,908 ) (7,534 ) (11,484 ) (23,995 ) Total operating income (loss) (4,785 ) 19,378 2,751 54,261 Interest expense, net (7,841 ) (5,754 ) (15,662 ) (10,286 ) Other expense, net (2,884 ) (2,955 ) (313 ) (253 ) Income (loss) before income taxes $ (15,510 ) $ 10,669 $ (13,224 ) $ 43,722 Net revenues by product category are as follows: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2017 2016 2017 2016 Net Revenues Apparel $ 680,653 $ 612,840 $ 1,396,090 $ 1,279,411 Footwear 236,925 242,706 506,583 506,952 Accessories 122,588 100,734 211,686 180,435 Total net sales 1,040,166 956,280 2,114,359 1,966,798 License revenues 25,110 21,006 49,315 40,439 Connected Fitness 22,969 23,497 41,902 41,998 Intersegment eliminations — — — (750 ) Total net revenues $ 1,088,245 $ 1,000,783 $ 2,205,576 $ 2,048,485

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Concentration of Credit Risk	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 retailers. Credit is extended based on an evaluation of each customer’s financial condition and collateral is not required. The Company's largest customer accounted for 19.4% , 16.1% and 18.3% of accounts receivable as of June 30, 2017 , December 31, 2016 and June 30, 2016 , respectively. For the six months ended June 30, 2017 , no customer accounted for more than 10% of the Company's net revenues.
Allowance For Doubtful Accounts	Allowance for Doubtful Accounts As of June 30, 2017 , December 31, 2016 and June 30, 2016 , the allowance for doubtful accounts was $13.2 million , $11.3 million and $34.4 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 $24.2 million and $19.3 million for the three months ended June 30, 2017 and 2016 , respectively, and $48.9 million and $39.4 million , for the six months ended June 30, 2017 and 2016 , 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.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2017
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, 2017 December 31, 2016 June 30, 2016 (In thousands) Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Derivative foreign currency contracts (see Note 8) — (4,554 ) — — 15,238 — — 463 — Interest rate swap contracts (see Note 8) — (35 ) — — (420 ) — — (5,126 ) — TOLI policies held by the Rabbi Trust — 5,258 — — 4,880 — — 4,650 — Deferred Compensation Plan obligations — (8,753 ) — — (7,023 ) — — (6,474 ) —

Risk Management and Derivativ20

Risk Management and Derivatives (Tables)	6 Months Ended
	Jun. 30, 2017
Changes in Foreign Currency Exchange Rates and Derivative Foreign Currency Forward Contracts	Included in other 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) 2017 2016 2017 2016 Unrealized foreign currency exchange rate gains (losses) $ 21,080 $ (7,387 ) $ 29,393 $ 3,861 Realized foreign currency exchange rate gains (losses) (2,084 ) (138 ) (2,356 ) 459 Unrealized derivative gains (losses) (521 ) (1,128 ) (1,225 ) (917 ) Realized derivative gains (losses) (16,425 ) 7,145 (22,790 ) (2,841 )

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Jun. 30, 2017
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) 2017 2016 2017 2016 Numerator Net income (loss) $ (12,308 ) $ 6,344 $ (14,581 ) $ 25,524 Adjustment payment to Class C capital stockholders — 59,000 — 59,000 Net loss available to all stockholders $ (12,308 ) $ (52,656 ) $ (14,581 ) $ (33,476 ) Denominator Weighted average common shares outstanding Class A and B 219,168 217,711 218,938 217,262 Effect of dilutive securities Class A and B — 3,665 — 4,241 Weighted average common shares and dilutive securities outstanding Class A and B 219,168 221,376 218,938 221,503 Weighted average common shares outstanding Class C 221,255 217,832 220,956 217,323 Effect of dilutive securities Class C — 3,664 — 4,240 Weighted average common shares and dilutive securities outstanding Class C 221,255 221,496 220,956 221,563 Basic net loss per share of Class A and B common stock $ (0.03 ) $ (0.12 ) $ (0.03 ) $ (0.08 ) Basic net income (loss) per share of Class C common stock $ (0.03 ) $ 0.15 $ (0.03 ) $ 0.19 Diluted net loss per share of Class A and B common stock $ (0.03 ) $ (0.12 ) $ (0.03 ) $ (0.08 ) Diluted net income (loss) per share of Class C common stock $ (0.03 ) $ 0.15 $ (0.03 ) $ 0.19

Segment Data and Related Info22

Segment Data and Related Information (Tables)	6 Months Ended
	Jun. 30, 2017
Reconciliation of Revenue from Segments to Consolidated	Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2017 2016 2017 2016 Net revenues North America $ 829,805 $ 827,132 $ 1,701,076 $ 1,707,727 EMEA 103,896 66,193 206,751 132,460 Asia-Pacific 93,574 49,553 179,392 103,175 Latin America 38,001 34,408 76,455 63,875 Connected Fitness 22,969 23,497 41,902 41,998 Intersegment eliminations — — — (750 ) Total net revenues $ 1,088,245 $ 1,000,783 $ 2,205,576 $ 2,048,485
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2017 2016 2017 2016 Operating income (loss) North America $ (5,417 ) $ 28,149 $ (1,703 ) $ 68,244 EMEA (4,616 ) (2,956 ) (2,987 ) (35 ) Asia-Pacific 15,249 9,913 34,877 27,247 Latin America (8,093 ) (8,194 ) (15,952 ) (17,200 ) Connected Fitness (1,908 ) (7,534 ) (11,484 ) (23,995 ) Total operating income (loss) (4,785 ) 19,378 2,751 54,261 Interest expense, net (7,841 ) (5,754 ) (15,662 ) (10,286 ) Other expense, net (2,884 ) (2,955 ) (313 ) (253 ) Income (loss) before income taxes $ (15,510 ) $ 10,669 $ (13,224 ) $ 43,722
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) 2017 2016 2017 2016 Net Revenues Apparel $ 680,653 $ 612,840 $ 1,396,090 $ 1,279,411 Footwear 236,925 242,706 506,583 506,952 Accessories 122,588 100,734 211,686 180,435 Total net sales 1,040,166 956,280 2,114,359 1,966,798 License revenues 25,110 21,006 49,315 40,439 Connected Fitness 22,969 23,497 41,902 41,998 Intersegment eliminations — — — (750 ) Total net revenues $ 1,088,245 $ 1,000,783 $ 2,205,576 $ 2,048,485

Summary Of Significant Accoun23

Summary Of Significant Accounting Policies (Schedule Of Customers That Accounted For A Large Portion Of Net Revenues And Accounts Receivable) (Detail)	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Customer A [Member] | Accounts Receivable [Member]
Concentration Risk [Line Items]
Concentration Credit Risk, Percentage	19.40%	16.10%	18.30%

Summary Of Significant Accoun24

Summary Of Significant Accounting Policies (Narrative) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Summary Of Significant Accounting Policies [Line Items]
Dividends		$ 59,000
Dividends Paid, Cash		2,900	$ 0	$ 2,927
Allowance for doubtful accounts receivable	$ 13,200	34,400	13,200	34,400	$ 11,300
Shipping and handling costs	24,200	19,300
Payments to Acquire Available-for-sale Securities			0	24,230
Proceeds from Sale of Available-for-sale Securities, Equity			0	30,712
Common Class C [Member]
Summary Of Significant Accounting Policies [Line Items]
Dividends	$ 0	$ (59,000)	$ 0	$ 59,000
Stock Dividends, Shares		1,470,256
Accounts Receivable [Member] | Customer A [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration Credit Risk, Percentage	19.40%	18.30%	19.40%	18.30%	16.10%
Sales Revenue, Net [Member] | Customer A [Member]
Summary Of Significant Accounting Policies [Line Items]
Concentration Risk, Percentage				11.10%
Senior Notes [Member]
Summary Of Significant Accounting Policies [Line Items]
Debt Issuance Costs, Line of Credit Arrangements, Gross		$ 5,300		$ 5,300
Revolving Credit Facility [Member]
Summary Of Significant Accounting Policies [Line Items]
Debt Issuance Costs, Line of Credit Arrangements, Gross	$ 3,900		$ 3,900
Debt Instrument, Unused Borrowing Capacity, Amount	300,000		300,000
Line of Credit Facility, Maximum Borrowing Capacity	1,250,000		1,250,000
Accounting Standards Update 2016-09 [Member] | Retained Earnings [Member]
Summary Of Significant Accounting Policies [Line Items]
Cumulative Effect of New Accounting Principle in Period of Adoption	1,300		1,300
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	1,900		1,900
Accounting Standards Update 2016-16 [Member] | Retained Earnings [Member]
Summary Of Significant Accounting Policies [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets	$ 26,000		$ 26,000
Operating Activities [Member] | Accounting Standards Update 2016-09 [Member]
Summary Of Significant Accounting Policies [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets		37,100		37,100
Financing Activities [Member] | Accounting Standards Update 2016-09 [Member]
Summary Of Significant Accounting Policies [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets		$ 13,700		$ 13,700

Credit Facility And Long Term25

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, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2012	Dec. 31, 2016
Debt Disclosure [Line Items]
Long term debt, net of current maturities		$ 777,717	$ 838,116	$ 777,717	$ 838,116		$ 790,388
Letters of Credit Outstanding, Amount		$ 3,700		3,700
Commitment fee as percentage of the committed line amount less outstanding borrowings and letters of credit		15.00%
Senior Notes			600,000		600,000
Line of Credit Facility, Amount Outstanding, Current		$ 150,000	150,000	150,000	150,000		0
Repayments of Long-term Debt				$ 243,500	807,250
Interest Income (Expense), Net		$ (7,840)	(5,754)
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
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
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
Term Loan Facility [Member]
Debt Disclosure [Line Items]
Weighted Average Interest Rate		2.20%		2.00%
Long term debt agreements principal outstanding		$ 173,800		$ 173,800
Revolving Credit Facility [Member]
Debt Disclosure [Line Items]
Credit facility maximum borrowing capacity		1,250,000		1,250,000
Debt Issuance Costs, Line of Credit Arrangements, Gross		3,900		3,900
Debt Instrument, Unused Borrowing Capacity, Amount		$ 300,000		$ 300,000
Secured Debt [Member]
Debt Disclosure [Line Items]
Debt Facility Term Period	7 years
Weighted Average Interest Rate		2.50%		2.40%
Debt Instrument, Maturity Date	Dec. 1, 2019
Secured Debt	$ 50,000	$ 41,000	$ 43,000	$ 41,000	$ 43,000	$ 50,000	$ 42,000
Secured Debt [Member] | LIBOR Rate [Member]
Debt Disclosure [Line Items]
Debt Instrument, Basis Spread on Variable Rate						1.50%

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, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
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]
Foreign Currency Contract, Asset, Fair Value Disclosure		463		463	15,238
Foreign Currency Contracts, Liability, Fair Value Disclosure	4,554		4,554
TOLI policies held by the Rabbi Trust	5,258	4,650	5,258	4,650	4,880
Deferred Compensation Plan obligations	(8,753)	(6,474)	(8,753)	(6,474)	(7,023)
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
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	300	600	600	1,100
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	(35)	(5,126)	(35)	(5,126)	(420)
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 ($)	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	$ 562,400,000
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) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017
Time-Based Restricted Stock Units Granted in 2017 [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		3.2
Time-Based Options Granted in 2017 [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		0.2
Performance-Based Restricted Stock Units Granted in 2017 [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		1.3
Share-based Compensation Arrangement by Share-based Payment Award, Annual Vesting Percentage	50.00%
Performance-Based Options Granted in 2017 [Domain]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Annual Vesting Percentage	0.00%
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		0.5
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, Weighted Average Grant Date Fair Value	$ 19.02
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, Weighted Average Grant Date Fair Value	8.17
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		$ 2.3
Time Based Restricted Stock Units Granted in 2016 [Member] | 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, Weighted Average Grant Date Fair Value	$ 19.03

Risk Management And Derivativ29

Risk Management And Derivatives (Narrative) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Derivative [Line Items]
Maturity of foreign currency forward contract	14 months
Foreign Currency Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	$ 900		$ 1,700
Notional Amount of Interest Rate Derivatives	$ 540,500		540,500
Derivative, Lower Remaining Maturity Range	1 month
Interest Rate Swap [Member]
Derivative [Line Items]
Notional Amount of Interest Rate Derivatives	$ 144,400		144,400
Derivative Instruments, Gain (Loss) Recognized in Income, Net	300	$ 600	600	$ 1,100
Fair Value, Inputs, Level 2 [Member]
Derivative [Line Items]
Foreign Currency Contracts, Liability, Fair Value Disclosure	(4,554)		(4,554)
Foreign Currency Contract, Asset, Fair Value Disclosure		(463)		(463)	$ (15,238)
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Interest Rate Derivatives, at Fair Value, Net	$ (35)	$ (5,126)	$ (35)	$ (5,126)	$ (420)

Risk Management And Derivativ30

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, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Foreign Currency Exchange Gain Loss [Line Items]
Maturity of foreign currency forward contract	14 months
Unrealized foreign currency exchange rate gains (losses)			$ 29,393	$ 3,861
Foreign Currency Exchange Rates [Member]
Foreign Currency Exchange Gain Loss [Line Items]
Unrealized foreign currency exchange rate gains (losses)	$ 21,080	$ (7,387)	29,393	3,861
Realized foreign currency exchange rate gains (losses)	(2,084)	(138)	(2,356)	459
Gain (Loss) on Derivative Instruments [Member]
Foreign Currency Exchange Gain Loss [Line Items]
Unrealized derivative gains (losses)	(521)	(1,128)	(1,225)	(917)
Realized derivative gains (losses)	$ (16,425)	7,145	$ (22,790)	(2,841)
Fair Value, Inputs, Level 2 [Member]
Foreign Currency Exchange Gain Loss [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure		$ 463		$ 463	$ 15,238

Provision For Income Taxes (Det

Provision For Income Taxes (Detail)	6 Months Ended
	Jun. 30, 2017Rate	Jun. 30, 2016Rate
Provision For Income Taxes [Line Items]
Effective tax rate	(10.25787%)	41.60%

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, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income	$ (12,308)	$ 6,344	$ (14,581)	$ 25,524
Dividends		59,000
Net Income (Loss) Attributable to Parent after Dividends Paid	$ (12,308)	$ (52,656)	(14,581)	(33,476)
Effect of dilutive securities	0	3,665,000
Common Class C [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Dividends	$ 0	$ (59,000)	$ 0	$ 59,000
Weighted Average Number of Shares Outstanding, Basic	221,255,000	217,832,000	220,956,000	217,323,000
Effect of dilutive securities	0	3,664,000	0	4,240,000
Weighted Average Number of Shares Outstanding, Diluted	221,255,000	221,496,000	220,956,000	221,563,000
Earnings Per Share, Basic	$ (0.03)	$ 0.15	$ (0.03)	$ 0.19
Earnings Per Share, Diluted	$ (0.03)	$ 0.15	$ (0.03)	$ 0.19
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	219,168,000	217,711,000	218,938,000	217,262,000
Effect of dilutive securities			0	4,241,000
Weighted Average Number of Shares Outstanding, Diluted	219,168,000	221,376,000	218,938,000	221,503,000
Earnings Per Share, Basic	$ (0.03)	$ (0.12)	$ (0.03)	$ (0.08)
Earnings Per Share, Diluted	$ (0.03)	$ (0.12)	$ (0.03)	$ (0.08)

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net Income (Loss) Attributable to Parent	$ (12,308)	$ 6,344	$ (14,581)	$ 25,524
Dividends		$ 59,000
Weighted Average Number Diluted Shares Outstanding Adjustment	0	3,665,000
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		0		200,000
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		0		200,000
Dividends	$ 0	$ (59,000)	$ 0	$ 59,000
Weighted Average Number of Shares Outstanding, Basic	221,255,000	217,832,000	220,956,000	217,323,000
Weighted Average Number Diluted Shares Outstanding Adjustment	0	3,664,000	0	4,240,000
Weighted Average Number of Shares Outstanding, Diluted	221,255,000	221,496,000	220,956,000	221,563,000
Earnings Per Share, Basic	$ (0.03)	$ 0.15	$ (0.03)	$ 0.19
Earnings Per Share, Diluted	$ (0.03)	$ 0.15	$ (0.03)	$ 0.19

Segment Data And Related Info34

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, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Segment Reporting Information [Line Items]
Net revenues	$ 1,040,166	$ 956,280	$ 2,114,359	$ 1,966,798
Revenue, Net	1,088,245	1,000,783	2,205,576	2,048,485
Total operating income	(4,785)	19,378	2,751	54,261
Interest Income (Expense), Net	(7,840)	(5,754)
Other income (expense), net	(2,884)	(2,955)	(313)	(253)
Income before income taxes	(15,510)	10,669	(13,224)	43,722
North America [Member]
Segment Reporting Information [Line Items]
Net revenues	829,805	827,132	1,701,076	1,707,727
Total operating income	(5,417)	28,149	(1,703)	68,244
EMEA [Member]
Segment Reporting Information [Line Items]
Net revenues	103,896	66,193	206,751	132,460
Total operating income	(4,616)	(2,956)	(2,987)	(35)
Asia Pacific [Member]
Segment Reporting Information [Line Items]
Net revenues	93,574	49,553	179,392	103,175
Total operating income	15,249	9,913	34,877	27,247
Latin America [Member]
Segment Reporting Information [Line Items]
Net revenues	38,001	34,408	76,455	63,875
Total operating income	(8,093)	(8,194)	(15,952)	(17,200)
Connected Fitness [Member]
Segment Reporting Information [Line Items]
Net revenues	22,969	23,497	41,902	41,998
Total operating income	(1,908)	(7,534)	(11,484)	(23,995)
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net revenues	$ 0	$ 0
Revenue, Net			$ 0	$ (750)

Segment Data And Related Info35

Segment Data And Related Information (Net Revenues By Product Category) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Segment Reporting Information [Line Items]
Operating Income (Loss)	$ (4,785)	$ 19,378	$ 2,751	$ 54,261
Revenue, Net	1,088,245	1,000,783	2,205,576	2,048,485
License revenues	25,110	21,006	49,315	40,439
Net revenues	1,040,166	956,280	2,114,359	1,966,798
Interest Income (Expense), Net	(7,840)	(5,754)
Other Nonoperating Income (Expense)	(2,884)	(2,955)	(313)	(253)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	(15,510)	10,669	(13,224)	43,722
Apparel [Member]
Segment Reporting Information [Line Items]
Net revenues	680,653	612,840	1,396,090	1,279,411
Footwear [Member]
Segment Reporting Information [Line Items]
Net revenues	236,925	242,706	506,583	506,952
Accessories [Member]
Segment Reporting Information [Line Items]
Net revenues	122,588	100,734	211,686	180,435
North America [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)	(5,417)	28,149	(1,703)	68,244
Net revenues	829,805	827,132	1,701,076	1,707,727
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue, Net			0	(750)
Net revenues	0	0
Connected Fitness [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)	(1,908)	(7,534)	(11,484)	(23,995)
Net revenues	22,969	23,497	41,902	41,998
EMEA [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)	(4,616)	(2,956)	(2,987)	(35)
Net revenues	103,896	66,193	206,751	132,460
Asia Pacific [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)	15,249	9,913	34,877	27,247
Net revenues	93,574	49,553	179,392	103,175
Latin America [Member]
Segment Reporting Information [Line Items]
Operating Income (Loss)	(8,093)	(8,194)	(15,952)	(17,200)
Net revenues	$ 38,001	$ 34,408	$ 76,455	$ 63,875

Restructuring (Details)

Restructuring (Details) $ in Millions	3 Months Ended
	Jun. 30, 2017USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 3.1
Severance Costs	0.6
Other Restructuring Costs	$ 2.5