Under Armour (UA) 10-Q 7 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2021	Apr. 30, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	001-33202
Entity Registrant Name	UNDER ARMOUR, INC.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	52-1990078
Entity Address, Address Line One	1020 Hull Street
Entity Address, City or Town	Baltimore
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	21230
City Area Code	410
Local Phone Number	454-6428
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001336917
Current Fiscal Year End Date	--12-31
Class A Common Stock
Document Information [Line Items]
Title of 12(b) Security	Class A Common Stock
Trading Symbol	UAA
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		188,622,016
Class B Convertible Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		34,450,000
Class C Common Stock
Document Information [Line Items]
Title of 12(b) Security	Class C Common Stock
Trading Symbol	UA
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		233,919,099

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020
Current assets
Cash and cash equivalents	$ 1,348,737	$ 1,517,361	$ 959,318
Accounts receivable, net	696,287	527,340	668,409
Inventories	851,829	895,974	940,236
Prepaid expenses and other current assets, net	260,865	282,300	300,044
Total current assets	3,157,718	3,222,975	2,868,007
Property and equipment, net	632,307	658,678	726,568
Operating lease right-of-use assets	511,130	536,660	583,418
Goodwill	497,970	502,214	485,672
Intangible assets, net	12,548	13,295	40,490
Deferred income taxes	23,796	23,930	39,576
Other long term assets	78,827	72,876	93,844
Total assets	4,914,296	5,030,628	4,837,575
Current liabilities
Revolving credit facility, current	0	0	600,000
Accounts payable	490,860	575,954	417,397
Accrued expenses	311,905	378,859	267,115
Customer refund liabilities	191,979	203,399	208,172
Operating lease liabilities	160,918	162,561	129,758
Other current liabilities	78,655	92,503	69,060
Total current liabilities	1,234,317	1,413,276	1,691,502
Long term debt, net of current maturities	1,009,951	1,003,556	593,281
Operating lease liabilities, non-current	801,292	839,414	913,754
Other long term liabilities	98,537	98,389	88,858
Total liabilities	3,144,097	3,354,635	3,287,395
Stockholders’ equity
Additional paid-in capital	1,072,401	1,061,173	985,831
Retained earnings	747,231	673,855	634,452
Accumulated other comprehensive loss	(49,584)	(59,185)	(70,253)
Total stockholders’ equity	1,770,199	1,675,993	1,550,180
Total liabilities and stockholders’ equity	4,914,296	5,030,628	4,837,575
Class A Common Stock
Stockholders’ equity
Common Stock	62	62	62
Class B Convertible Common Stock
Stockholders’ equity
Common Stock	11	11	11
Class C Common Stock
Stockholders’ equity
Common Stock	$ 78	$ 77	$ 77

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020
Class A Common Stock
Commons stock, par value (USD per share)	$ 0.0003	$ 0.0003	$ 0.0003
Common stock, authorized (in shares)	400,000,000	400,000,000	400,000,000
Common stock, shares issued (in shares)	188,622,010	188,603,686	188,450,989
Common stock, shares outstanding (in shares)	188,622,010	188,603,686	188,450,989
Class B Convertible Common Stock
Commons stock, par value (USD per share)	$ 0.0003	$ 0.0003	$ 0.0003
Common stock, authorized (in shares)	34,450,000	34,450,000	34,450,000
Common stock, shares issued (in shares)	34,450,000	34,450,000	34,450,000
Common stock, shares outstanding (in shares)	34,450,000	34,450,000	34,450,000
Class C Common Stock
Commons stock, par value (USD per share)	$ 0.0003	$ 0.0003	$ 0.0003
Common stock, authorized (in shares)	400,000,000	400,000,000	400,000,000
Common stock, shares issued (in shares)	233,934,560	231,953,667	231,150,002
Common stock, shares outstanding (in shares)	233,934,560	231,953,667	231,150,002

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Net revenues	$ 1,257,195	$ 930,240
Cost of goods sold	628,554	499,256
Gross profit	628,641	430,984
Selling, general and administrative expenses	514,638	552,701
Restructuring and impairment charges	7,113	436,463
Income (loss) from operations	106,890	(558,180)
Interest expense, net	(14,137)	(5,960)
Other income (expense), net	(7,180)	1,534
Income (loss) before income taxes	85,573	(562,606)
Income tax expense	9,881	21,547
Income (loss) from equity method investments	2,060	(5,528)
Net income (loss)	$ 77,752	$ (589,681)
Basic net income (loss) per share of Class A, B and C common stock (in dollars per share)	$ 0.17	$ (1.30)
Diluted net income (loss) per share of Class A, B and C common stock (in dollars per share)	$ 0.17	$ (1.30)
Weighted average common shares outstanding Class A, B and C common stock
Basic (in shares)	456,014	452,871
Diluted (in shares)	459,226	452,871

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 77,752	$ (589,681)
Other comprehensive income (loss):
Foreign currency translation adjustment	3,318	(47,679)
Unrealized gain on cash flow hedges, net of tax benefit (expense) of ($1,232) and $11,435 for the three months ended March 31, 2021 and 2020, respectively	8,798	32,545
Loss on intra-entity foreign currency transactions	(2,515)	(4,354)
Total other comprehensive income (loss)	9,601	(19,488)
Comprehensive income (loss)	$ 87,353	$ (609,169)

Unaudited Condensed Consolida_5

Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Cash flow hedge, tax benefit (expense)	$ (1,232)	$ 11,435

Unaudited Condensed Consolida_6

Unaudited Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common StockClass A Common Stock	Common StockClass B Convertible Common Stock	Common StockClass C Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance (shares) at Dec. 31, 2019		188,290	34,450	229,028
Beginning balance at Dec. 31, 2019	$ 2,150,087	$ 62	$ 11	$ 76	$ 973,717	$ 1,226,986	$ (50,765)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (shares)		143		131
Exercise of stock options	484				484
Shares withheld in consideration of employee tax obligations relative to stock-based compensation arrangements (shares)		(1)		(176)
Shares withheld in consideration of employee tax obligations relative to stock-based compensation arrangements	(2,853)					(2,853)
Issuance of common stock, net of forfeitures (shares)		19		2,167
Issuance of common stock, net of forfeitures	1,166			$ 1	1,165
Stock-based compensation expense	10,465				10,465
Comprehensive income (loss)	(609,169)					(589,681)	(19,488)
Ending balance (shares) at Mar. 31, 2020		188,451	34,450	231,150
Ending balance at Mar. 31, 2020	1,550,180	$ 62	$ 11	$ 77	985,831	634,452	(70,253)
Beginning balance (shares) at Dec. 31, 2020		188,603	34,450	231,954
Beginning balance at Dec. 31, 2020	1,675,993	$ 62	$ 11	$ 77	1,061,173	673,855	(59,185)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (shares)		3		3
Exercise of stock options	6				6
Shares withheld in consideration of employee tax obligations relative to stock-based compensation arrangements (shares)		0		(228)
Shares withheld in consideration of employee tax obligations relative to stock-based compensation arrangements	(4,376)					(4,376)
Issuance of common stock, net of forfeitures (shares)		16		2,206
Issuance of common stock, net of forfeitures	851			$ 1	850
Stock-based compensation expense	10,372				10,372
Comprehensive income (loss)	87,353					77,752	9,601
Ending balance (shares) at Mar. 31, 2021		188,622	34,450	233,935
Ending balance at Mar. 31, 2021	$ 1,770,199	$ 62	$ 11	$ 78	$ 1,072,401	$ 747,231	$ (49,584)

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities
Net income (loss)	$ 77,752	$ (589,681)
Adjustments to reconcile net income (loss) to net cash used in operating activities
Depreciation and amortization	35,512	48,565
Unrealized foreign currency exchange rate gain (loss)	14,702	12,976
Loss on disposal of property and equipment	575	129
Impairment charges	5,601	437,517
Amortization of bond premium	5,273	63
Stock-based compensation	10,372	10,465
Deferred income taxes	(9)	23,253
Changes in reserves and allowances	(9,262)	10,130
Changes in operating assets and liabilities:
Accounts receivable	(170,493)	27,596
Inventories	49,246	(59,701)
Prepaid expenses and other assets	22,295	27,153
Other non-current assets	19,467	(336,357)
Accounts payable	(80,092)	(192,651)
Accrued expenses and other liabilities	(121,841)	226,315
Customer refund liability	(10,949)	(8,334)
Income taxes payable and receivable	1,263	(4,150)
Net cash provided by (used in) operating activities	(150,588)	(366,712)
Cash flows from investing activities
Purchases of property and equipment	(8,465)	(31,498)
Sale of property and equipment	561	0
Purchase of businesses	0	(37,343)
Net cash used in investing activities	(7,904)	(68,841)
Cash flows from financing activities
Proceeds from long term debt and revolving credit facility	0	700,000
Payments on long term debt and revolving credit facility	0	(100,000)
Employee taxes paid for shares withheld for income taxes	(4,301)	(2,732)
Proceeds from exercise of stock options and other stock issuances	858	1,649
Other financing fees	0	35
Net cash provided by (used in) financing activities	(3,443)	598,952
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(6,900)	8,761
Net increase in (decrease in) cash, cash equivalents and restricted cash	(168,835)	172,160
Cash, cash equivalents and restricted cash
Beginning of period	1,528,515	796,008
End of period	1,359,680	968,168
Non-cash investing and financing activities
Change in accrual for property and equipment	$ (40)	$ (13,081)

Description of Business and Bas

Description of Business and Basis of Presentation	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION	DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Business Under Armour, Inc. (together with its wholly owned subsidiaries, the "Company") is a developer, marketer and distributor of branded athletic performance apparel, footwear, and accessories. The Company creates products engineered to solve problems and make athletes better, as well as digital health and fitness apps built to connect people and drive performance. The Company's products are made, sold and worn worldwide. Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of Under Armour Inc. and its wholly owned subsidiaries. Certain information in footnote disclosures normally included in annual financial statements was condensed or omitted for the interim periods presented in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) and accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim consolidated financial statements. These unaudited condensed consolidated financial statements are presented in U.S. Dollars. In the opinion of management, all adjustments consisting of normal, recurring adjustments considered necessary for a fair statement of the financial position and results of operations were included. Intercompany balances and transactions were eliminated upon consolidation. The unaudited condensed consolidated balance sheet as of March 31, 2021 is derived from the audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 ("Fiscal 2020"), filed with the SEC on February 24, 2021 ("Annual Report on Form 10-K for Fiscal 2020"), which should be read in conjunction with these unaudited condensed consolidated financial statements. The unaudited results for the three months ended March 31, 2021, are not necessarily indicative of the results to be expected for the fiscal year ending December 31, 2021 ("Fiscal 2021"), or any other portions thereof. Connected Fitness Prior to January 1, 2021, the Company's previously reported "Connected Fitness" segment was composed of digital subscription and advertising conducted through various platforms, predominantly the MyFitnessPal, MapMyFitness, consisting of applications such as MapMyRun and MapMyRide (collectively "MMR"), and Endomondo platforms. While the Company continues to operate the MMR platforms, MyFitnessPal was sold in December 2020 and Endomondo was wound down in December 2020 as part of the Company's 2020 restructuring plan. As a result of these changes, starting in the first quarter of Fiscal 2021 the Company no longer reports Connected Fitness as a discrete reportable segment. The operating results of MMR are now included within the Company’s Corporate Other segment. Where applicable, all prior period balances that used to reflect Connected Fitness discretely have been recast to be included within the Corporate Other reportable segment, to conform with current period presentation. Such reclassifications did not affect total consolidated net revenues, consolidated income from operations or consolidated net income. Management Estimates and COVID-19 Update The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates, judgments and assumptions are evaluated on an on-going basis. The Company bases its estimates on historical experience and on various other assumptions that it believes are reasonable at that time; however, actual results could differ from these estimates. Further, COVID-19 continues to significantly impact the global economy. As the impacts of the pandemic continue to evolve, estimates and assumptions about future events and their effects cannot be determined with certainty and therefore require increased judgment. The extent to which the evolving pandemic impacts the Company's financial statements will depend on a number of factors including, but not limited to, any new information that may emerge concerning the severity of COVID-19 and the actions that governments may take to contain the virus or treat its impact. While the Company believes it has made appropriate accounting estimates and assumptions based on the facts and circumstances available as of this reporting date, the Company may experience further impacts based on long-term effects on the Company's customers and the countries in which the

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Cash, Cash Equivalents and Restricted Cash The Company considers all highly liquid investments with an original maturity of three months or less at the date of purchase to be cash and cash equivalents. The Company's restricted cash is reserved for payments related to claims for its captive insurance program, which is included in prepaid expenses and other current assets on the Company's unaudited condensed consolidated balance sheets. The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the unaudited condensed consolidated balance sheets to the unaudited condensed consolidated statements of cash flows: (In thousands) March 31, 2021 December 31, 2020 March 31, 2020 Cash and cash equivalents $ 1,348,737 $ 1,517,361 $ 959,318 Restricted cash 10,943 11,154 8,850 Total Cash, cash equivalents and restricted cash $ 1,359,680 $ 1,528,515 $ 968,168 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 wholesale customers. None of the Company's customers accounted for more than 10% of accounts receivable as of March 31, 2021, December 31, 2020 and March 31, 2020, respectively. For the three months ended March 31, 2021 and 2020, no customer accounted for more than 10% of the Company's net revenues. The Company regularly evaluates the credit risk of the large wholesale customers which make up the majority of the Company's accounts receivable. Refer to the "Credit Losses - Allowance for Doubtful Accounts" below for a discussion of the evaluation of credit losses. Credit Losses - Allowance for Doubtful Accounts Credit losses are the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations. The Company is exposed to credit losses primarily through customer receivables associated with the sale of products within the Company's wholesale channels, recorded within accounts receivable, net on the Company's unaudited condensed consolidated balance sheet. The Company also has other receivables, including receivables from licensing arrangements recorded in prepaid expenses and other current assets on the Company's unaudited condensed consolidated balance sheet. Credit is extended to customers based on a credit review. The credit review considers each customer’s financial condition, including a review of the customers established credit rating or, if an established customer rating is not available, then the Company's assessment of the customer’s creditworthiness is based on their financial statements, local industry practices, and business strategy. A credit limit and terms of credit are established for each customer based on the outcome of this review. The Company actively monitors ongoing credit exposure through review of customer balances against terms and payments against due dates. To mitigate credit risk, the Company may require customers to provide security in the form of guarantees, letters of credit, or prepayment. The Company is also exposed to credit losses through credit card receivables associated with the sale of products within the Company's direct to consumer channel. The allowance for doubtful accounts is based on the Company’s assessment of the collectibility of customer accounts. The Company makes ongoing estimates relating to the collectibility of accounts receivable and records an allowance for estimated losses expected from the inability of its customers to make required payments. The Company establishes expected credit losses by evaluating historical levels of credit losses, current economic conditions that may affect a customer’s ability to pay, and creditworthiness of significant customers. These inputs are used to determine a range of expected credit losses and an allowance is recorded within the range. Accounts receivable are written off when there is no reasonable expectation of recovery. The following table illustrates the activity in the Company's allowance for doubtful accounts: (In thousands) Balance as of Increases (decreases) to Write-Offs Balance as of Allowance for doubtful accounts - $ 20,350 $ (1,316) $ (45) $ 18,989 Allowance for doubtful accounts - $ 7,029 $ — $ — $ 7,029 The allowance for doubtful accounts was established with information available as of March 31, 2021, including reasonable and supportable estimates of future risk. For the three months ended March 31, 2021, the decrease in the reserve is primarily due to the collection of account balances that were previously reserved for. Revenue Recognition The Company recognizes revenue pursuant to Accounting Standards Codification 606 ("ASC 606"). Net revenues consist of net sales of apparel, footwear and accessories, license revenues and revenues from digital subscriptions and advertising. The Company recognizes revenue when it satisfies its performance obligations by transferring control of promised products or services to its customers, which occurs either at a point in time or over time, depending on when the customer obtains the ability to direct the use of and obtain substantially all of the remaining benefits from the products or services. The amount of revenue recognized considers terms of sale that create variability in the amount of consideration that the Company ultimately expects to be entitled to in exchange for the products or services and is subject to an overall constraint that a significant revenue reversal will not occur in future periods. Sales taxes imposed on the Company’s revenues from product sales are presented on a net basis on the unaudited condensed consolidated statements of operations, and therefore do not impact net revenues or costs of goods sold. Revenue transactions associated with the sale of apparel, footwear, and accessories, comprise a single performance obligation, which consists of the sale of products to customers either through wholesale or direct to consumer channels. The Company satisfies the performance obligation and records revenues when transfer of control has passed to the customer, based on the terms of sale. In the Company’s wholesale channel, transfer of control is based upon shipment under free on board shipping point for most goods or upon receipt by the customer depending on the country of the sale and the agreement with the customer. The Company may also ship product directly from its supplier to wholesale customers and recognize revenue when the product is delivered to and accepted by the customer. In the Company’s direct to consumer channel, transfer of control takes place at the point of sale for brand and factory house customers and upon shipment to substantially all e-commerce customers. Payment terms for wholesale transactions are established in accordance with local and industry practices. Payment is generally required within 30 to 60 days of shipment to or receipt by the wholesale customer in the United States, and generally within 60 to 90 days of shipment to or receipt by the wholesale customer internationally. Payment is generally due at the time of sale for direct to consumer transactions. Gift cards issued to customers by the Company are recorded as contract liabilities until they are redeemed, at which point revenue is recognized. The Company also estimates and recognizes revenue for gift card balances not expected to ever be redeemed ("breakage") to the extent that it does not have a legal obligation to remit the value of such unredeemed gift cards to the relevant jurisdiction as unclaimed or abandoned property. Such estimates are based upon historical redemption trends, with breakage income recognized in proportion to the pattern of actual customer redemptions. Revenue from the Company's licensing arrangements is recognized over time during the period that licensees are provided access to the Company's trademarks and benefit from such access through their sales of licensed products. These arrangements require licensees to pay a sales-based royalty, which for most arrangements may be subject to a contractually guaranteed minimum royalty amount. Payments are generally due quarterly. The Company recognizes revenue for sales-based royalty arrangements (including those for which the royalty exceeds any contractually guaranteed minimum royalty amount) as licensed products are sold by the licensee. If a sales-based royalty is not ultimately expected to exceed a contractually guaranteed minimum royalty amount, the minimum is recognized as revenue over the contractual period, if all other criteria of revenue recognition have been met. This sales-based output measure of progress and pattern of recognition best represents the value transferred to the licensee over the term of the arrangement, as well as the amount of consideration that the Company is entitled to receive in exchange for providing access to its trademarks. Revenue from digital subscriptions is recognized on a gross basis and is recognized over the term of the subscription. The Company receives payments in advance of revenue recognition for subscriptions and these payments are recorded as contract liabilities in the Company's unaudited condensed consolidated balance sheet. Related commission cost is included in selling, general and administrative expense in the unaudited condensed consolidated statement of operations. Revenue from digital advertising is recognized as the Company satisfies performance obligations pursuant to customer insertion orders. The Company records reductions to revenue for estimated customer returns, allowances, markdowns and discounts. The Company bases its estimates on historical rates of customer returns and allowances as well as the specific identification of outstanding returns, markdowns and allowances that have not yet been received by the Company. The actual amount of customer returns and allowances, which is inherently uncertain, may differ from the Company’s estimates. If the Company determines that actual or expected returns or allowances are significantly higher or lower than the reserves it established, it would record a reduction or increase, as appropriate, to net sales in the period in which it makes such a determination. Provisions for customer specific discounts are based on negotiated arrangements with certain major customers. Reserves for returns, allowances, markdowns and discounts are included within customer refund liability and the value of inventory associated with reserves for sales returns are included within prepaid expenses and other current assets on the unaudited condensed consolidated balance sheet. At a minimum, the Company reviews and refines these estimates on a quarterly basis. The following table presents the customer refund liability, as well as the associated value of inventory for the periods indicated: (In thousands) Balance as of Balance as of Balance as of Customer refund liability $ 191,979 $ 203,399 $ 208,172 Inventory associated with the reserves $ 54,540 $ 57,867 $ 63,339 Contract Liabilities Contract liabilities are recorded when a customer pays consideration, or the Company has a right to an amount of consideration that is unconditional, before the transfer of a good or service to the customer, and thus represent the Company's obligation to transfer the good or service to the customer at a future date. The Company's contract liabilities primarily consist of payments received in advance of revenue recognition for subscriptions for the Company's digital fitness applications and royalty arrangements, included in other current liabilities, and gift cards, included in accrued expenses, on the Company's unaudited condensed consolidated balance sheets. As of March 31, 2021, December 31, 2020, and March 31, 2020, contract liabilities were $25.5 million, $26.7 million and $58.5 million, respectively. For the three months ended March 31, 2021, the Company recognized $4.3 million of revenue that was previously included in contract liabilities as of December 31, 2020. For the three months ended March 31, 2020, the Company recognized $20.3 million of revenue that was previously included in contract liabilities as of December 31, 2019. The change in the contract liabilities balance primarily results from the timing differences between the Company's satisfaction of performance obligations and the customer's payment. Commissions related to subscription revenue are capitalized and recognized over the subscription period. Shipping and Handling Costs The Company charges customers shipping and handling fees based on contractual terms, which are recorded in net revenues. The Company incurs freight costs associated with shipping goods to customers. These costs are recorded as a component of cost of goods sold. The Company also incurs outbound handling costs associated with preparing goods to ship to customers and certain costs to operate the Company’s distribution facilities. These costs are recorded as a component of selling, general and administrative expenses and were $23.3 million and $14.9 million for the three months ended March 31, 2021 and 2020, respectively. Equity Method Investment The Company has a common stock investment of 29.5% in Dome Corporation ("Dome"), the Company's Japanese licensee. The Company accounts for its investment in Dome under the equity method, given it has the ability to exercise significant influence, but not control, over Dome. The Company recorded its allocable share of Dome’s net income (loss) of $1.8 million and $(1.4) million for the three months ended March 31, 2021 and 2020, respectively, within income (loss) from equity method investment on the unaudited condensed consolidated statements of operations and as an adjustment to the invested balance within other long term assets on the unaudited condensed consolidated balance sheets. As of March 31, 2021, the carrying value of the Company's investment in Dome was $1.8 million. In addition to the investment in Dome, the Company has a license agreement with Dome. The Company recorded license revenues from Dome of $6.8 million and $6.7 million for the three months ended March 31, 2021 and 2020, respectively. As of March 31, 2021, December 31, 2020, and March 31, 2020, the Company had $5.4 million, $22.9 million, and $7.0 million, respectively, in licensing receivables outstanding, recorded in the prepaid expenses and other current assets line item within the Company's unaudited condensed consolidated balance sheets. On March 2, 2020, as part of the Company's acquisition of Triple Pte. Ltd., the Company assumed 49.5% of common stock ownership in UA Sports (Thailand) Co., Ltd. (“UA Sports Thailand”). The Company accounts for its investment in UA Sports Thailand under the equity method, given it has the ability to exercise significant influence, but not control, over UA Sports Thailand. For the three months ended March 31, 2021 and 2020, respectively, the Company recorded the allocable share of UA Sports Thailand’s net income of $0.2 million and net loss of $0.4 million, respectively, within income (loss) from equity method investment on the unaudited condensed consolidated statements of operations and as an adjustment to the invested balance within other long term assets on the unaudited condensed consolidated balance sheets. As of March 31, 2021, the carrying value of the Company’s investment in UA Sports Thailand was $5.2 million. Recently Issued Accounting Standards In August 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-06 "Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40)" ("ASU 2020-06"). The amendment in this update simplifies the accounting for convertible instruments by reducing the number of accounting models available for convertible debt instruments and convertible preferred stock. This update also amends the guidance for the derivatives scope exception for contracts in an entity's own equity to reduce form-over-substance-based accounting conclusions and requires the application of the if-converted method for calculating diluted earnings per share. The update also requires entities to provide expanded disclosures about the terms and features of convertible instruments, how the instruments have been reported in the entity’s financial statements, and information about events, conditions, and circumstances that can affect how to assess the amount or timing of an entity’s future cash flows related to those instruments. The guidance is effective for interim and annual periods beginning after December 15, 2021. The Company is currently evaluating this guidance to determine the impact it may have on its unaudited condensed consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of Effects of Reference Rate Reform on Financial Reporting and then issued a subsequent amendment to the initial guidance under ASU 2021-01 (collectively Topic 848). Topic 848 provides practical expedients and exceptions for applying GAAP to contracts, hedging relationships, derivatives and other transactions affected by reference rate reform if certain criteria are met. The expedients and exceptions provided by the amendments in this update apply only to contracts, hedging relationships, derivatives and other transactions that reference the London interbank offered rate (“LIBOR”) or another reference rate expected to be discontinued as a result of reference rate reform. Topic 848 is currently effective and upon adoption may be applied prospectively to contract modifications and hedging relationships made on or before December 31, 2022. The Company is currently evaluating this guidance to determine the impact it may have on its unaudited condensed consolidated financial statements.

Restructuring and Related Impai

Restructuring and Related Impairment Charges	3 Months Ended
	Mar. 31, 2021
Restructuring and Related Activities [Abstract]
RESTRUCTURING AND RELATED IMPAIRMENT CHARGES	RESTRUCTURING AND RELATED IMPAIRMENT CHARGESDuring Fiscal 2020, the Company's Board of Directors approved a restructuring plan ranging between $550 million to $600 million in costs ("2020 restructuring plan") designed to rebalance the Company’s cost base to further improve profitability and cash flow generation. The restructuring and related charges primarily consist of approximately: • $219 million of cash restructuring charges, comprised of approximately: $61 million in facility and lease termination costs, $30 million in employee severance and benefit costs, and $128 million in contract termination and other restructuring costs; and • $381 million of non-cash charges comprised of an impairment charge of $291 million related to the Company’s New York City flagship store and $90 million related to intangibles and other asset related impairments. The Company recorded $7.1 million and $301.1 million of restructuring and related impairment charges for the three months ended March 31, 2021 and 2020, respectively under the 2020 restructuring plan. As of March 31, 2021, $479.8 million of restructuring and related impairment charges under the 2020 restructuring plan have been recorded to date. Restructuring and related impairment charges and recoveries require the Company to make certain judgments and estimates regarding the amount and timing as to when these charges or recoveries occur. The estimated liability could change subsequent to its recognition, requiring adjustments to the expense and the liability recorded. On a quarterly basis, the Company conducts an evaluation of the related liabilities and expenses and revises its assumptions and estimates as appropriate, as new or updated information becomes available. The following table illustrates the costs recorded during the three months ended March 31, 2021, as well as the Company's current estimates of the amount expected to be incurred in connection with the 2020 restructuring plan: Restructuring and Impairment Charges Recorded Estimated Restructuring and Impairment Charges (1) (In thousands) Three months ended March 31, 2020 Three months ended March 31, 2021 Remaining to be Incurred Total to be Incurred under plan Costs recorded in cost of goods sold: Contract-based royalties $ — $ — $ — $ 11,608 Inventory write-offs — — 4,500 5,268 Total costs recorded in cost of goods sold — — 4,500 16,876 Net costs (recoveries) recorded in restructuring and related impairment charges: Property and equipment impairment 7,094 — 8,342 37,622 Intangible asset impairment — — — 4,351 Right-of-use asset impairment 290,813 — — 293,495 Employee related costs — (584) 2,005 30,000 Contract exit costs (2) — 434 86,242 165,684 Other asset write off — 1,298 16,300 30,672 Other restructuring costs 3,182 5,965 2,771 21,300 Total costs recorded in restructuring and impairment charges 301,089 7,113 115,660 583,124 Total restructuring and impairment charges $ 301,089 $ 7,113 $ 120,160 $ 600,000 (1) Estimated restructuring and impairment charges reflect the high-end of the range of the estimated charges expected by the Company in connection with the 2020 restructuring plan. (2) Contract exit costs are primarily comprised of proposed lease exits of certain brand and factory house stores and office facilities, and proposed marketing and other contract exits. All restructuring and related impairment charges are included in the Company's Corporate Other segment. For the three months ended March 31, 2021, approximately $2.6 million of the charges are North America related, $4.2 million are Latin America related, and $0.2 million are Asia-Pacific related. For the three months ended March 31, 2020, the charges were primarily North America related. A summary of the activity in the restructuring reserve related to the Company's 2020 restructuring plan, as well as prior restructuring plans in 2018 and 2017 are as follows: (In thousands) Employee Related Costs Contract Exit Costs Other Restructuring Related Costs Balance at January 1, 2021 $ 12,868 $ 61,642 $ 6,098 Net additions (recoveries) charged to expense (584) 3,581 520 Cash payments charged against reserve (2,922) (22,789) (3,005) Foreign exchange and other 155 735 77 Balance at March 31, 2021 $ 9,517 $ 43,169 $ 3,690 During the three months ended March 31, 2021, the Company also incurred net costs of $3.6 million associated with abandoned facilities and the write off of fixed assets under the 2020 restructuring plan.

Leases

Leases	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
LEASES	LEASES The Company enters into operating leases both domestically and internationally, to lease certain warehouse space, office facilities, space for its brand and factory house stores and certain equipment under non-cancelable operating leases. The leases expire at various dates through 2035, excluding extensions at the Company's option, and include provisions for rental adjustments. The Company accounts for a contract as a lease when it has the right to direct the use of the asset for a period of time while obtaining substantially all of the asset’s economic benefits. The Company determines the initial classification and measurement of its right-of-use ("ROU") assets and lease liabilities at the lease commencement date and thereafter if modified. ROU assets represent the Company’s right to control the underlying assets under lease, over the contractual term. ROU assets and lease liabilities are recognized on the unaudited condensed consolidated balance sheets based on the present value of future minimum lease payments to be made over the lease term. ROU assets and lease liabilities are established on the unaudited condensed consolidated balance sheets for leases with an expected term greater than one year. Short-term lease payments were not material for the three months ended March 31, 2021 and 2020. As the rate implicit in a lease is not readily determinable, the Company uses its secured incremental borrowing rate to determine the present value of the lease payments. The Company calculates the incremental borrowing rate based on the current market yield curve and adjusts for foreign currency impacts for international leases. Fixed lease costs are included in the recognition of ROU assets and lease liabilities. Variable lease costs are not included in the measurement of the lease liability. These variable lease payments are recognized in the unaudited condensed consolidated statements of operations in the period in which the obligation for those payments is incurred. Variable lease payments primarily consist of payments dependent on sales in brand and factory house stores. The Company has elected to combine lease and non-lease components in the determination of lease costs for its leases. The lease liability includes lease payments related to options to extend or renew the lease term only if the Company is reasonably certain to exercise those options. As a result of the impacts of COVID-19, the Company sought concessions from landlords for certain leases of brand and factory house stores in the form of rent deferrals or rent waivers. Consistent with updated guidance from the FASB in April 2020, the Company elected to account for treating these concessions as though the enforceable rights and obligations to the deferrals existed in the respective contracts at lease inception and will not account for the concessions as lease modifications, unless the concession results in a substantial change in the Company's obligations. The Company's rent deferrals had no impact to rent expense during the three months ended March 31, 2021 and amounts deferred and payable in future periods have been included in short term lease liability on the Company's unaudited condensed consolidated balance sheet as of March 31, 2021. The Company's rent waivers, which were recorded as a reduction of rent expense, were not material for the three months ended March 31, 2021 and 2020, respectively. Lease Costs and Other Information The Company recognizes lease expense on a straight-line basis over the lease term. The following table illustrates operating and variable lease costs, included in selling, general and administrative expenses within the Company's unaudited condensed consolidated statement of operations, for the periods indicated: Three months ended March 31, (In thousands) 2021 2020 Operating lease costs $ 34,935 $ 37,872 Variable lease costs $ 2,920 $ 1,986 There are no residual value guarantees that exist, and there are no restrictions or covenants imposed by leases. The Company rents or subleases excess office facilities and warehouse space to third parties. Sublease income is not material. The weighted average remaining lease term and discount rate for the periods indicated below were as follows: March 31, 2021 December 31, 2020 March 31, 2020 Weighted average remaining lease term (in years) 9.05 9.12 9.64 Weighted average discount rate 3.82 % 3.83 % 3.99 % Supplemental Cash Flow Information The following table presents supplemental information relating to cash flow arising from lease transactions: Three months ended March 31, (In thousands) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities Operating cash outflows from operating leases $ 45,909 $ 36,547 Leased assets obtained in exchange for new operating lease liabilities $ 4,074 $ 72,963 Maturity of Lease Liabilities The following table presents the future minimum lease payments under our operating lease liabilities as of March 31, 2021: (In thousands) 2021 $ 150,290 2022 163,805 2023 143,554 2024 124,776 2025 96,576 2026 and thereafter 467,029 Total lease payments $ 1,146,030 Less: Interest 183,820 Total present value of lease liabilities (1) $ 962,210 As of March 31, 2021, the Company has additional operating lease obligations that have not yet commenced of approximatel y $5.5 million w

Credit Facility and Other Long

Credit Facility and Other Long Term Debt	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
CREDIT FACILITY AND OTHER LONG TERM DEBT	CREDIT FACILITY AND OTHER LONG TERM DEBT Credit Facility On March 8, 2019, the Company entered into an amended and restated credit agreement by and among the Company, as borrower, JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders and arrangers party thereto (the “credit agreement”). The credit agreement has a term of five years, maturing in March 2024, with permitted extensions under certain circumstances. In May 2020, the Company entered into an amendment to the credit agreement (the “amendment” and, the credit agreement as amended, the “amended credit agreement” or the “revolving credit facility”), pursuant to which the prior revolving credit commitments were reduced from $1.25 billion to $1.1 billion of borrowings. As of March 31, 2021 and December 31, 2020, there were no amounts outstanding under the revolving credit facility, respectively. As of March 31, 2020, there was $600.0 million outstanding under the revolving credit facility (prior to its amendment), which the Company had borrowed as a precautionary measure in connection with the uncertain conditions created by COVID-19 in early calendar year 2020. Except during the covenant suspension period (as defined below), at the Company's request and the lender's consent, commitments under the amended credit agreement may be increased by up to $300.0 million in aggregate, subject to certain conditions as set forth in the amended credit agreement. Incremental borrowings are uncommitted and the availability thereof will depend on market conditions at the time the Company seeks to incur such borrowings. Borrowings, if any, 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. As of March 31, 2021, there was $4.3 million of letters of credit outstanding. (December 31, 2020 and March 31, 2020 had $4.3 million and $5.0 million, respectively). The obligations of the Company under the amended credit agreement are guaranteed by certain domestic significant subsidiaries of Under Armour, Inc., subject to customary exceptions (the “subsidiary guarantors”) and primarily secured by a first-priority security interest in substantially all of the assets of Under Armour, Inc. and the subsidiary guarantors, excluding real property, capital stock in and debt of subsidiaries of Under Armour Inc. holding certain real property and other customary exceptions. The amended credit agreement contains negative covenants that, subject to significant exceptions, limit the Company's ability to, among other things: incur additional secured and unsecured indebtedness; pledge the assets as security; make investments, loans, advances, guarantees and acquisitions, (including investments in and loans to non-guarantor subsidiaries); undergo fundamental changes; sell assets outside the ordinary course of business; enter into transactions with affiliates; and make restricted payments (including a temporary suspension of certain voluntary restricted payments during the covenant suspension period (as defined below)). The Company is also required to comply with specific consolidated leverage and interest coverage ratios during specified periods. Under the amended credit agreement, the Company is required to maintain a ratio of consolidated EBITDA, to consolidated interest expense of not less than 3.50 to 1.0 (the "interest coverage covenant") and the Company is not permitted to allow the ratio of consolidated total indebtedness to consolidated EBITDA to be greater than 3.25 to 1.0 (the "leverage covenant"), as described in more detail in the amended credit agreement. However, the amended credit agreement provides for suspensions of and adjustments to the leverage covenant (including definitional changes impacting the calculation of the ratio) and the interest coverage covenant beginning with the quarter ended June 30, 2020, and ending on the date on which financial statements for the quarter ended June 30, 2022 are delivered to lenders under the amended credit agreement (the "covenant suspension period"), as summarized below and described in more detail in the amended credit agreement: • For the fiscal quarters ending March 31, 2021 and June 30, 2021, compliance with the interest coverage covenant and the leverage covenant are both suspended. Beginning on September 30, 2020 through and including December 31, 2021, the Company must instead maintain minimum liquidity of $550.0 million (the “liquidity covenant”) (with liquidity being the sum of certain cash and cash equivalents held by the Company and its subsidiaries and available borrowing capacity under the amended credit agreement). • For the fiscal quarter ending September 30, 2021, the interest coverage covenant is suspended, the leverage covenant will require that the ratio of consolidated total indebtedness to consolidated EBITDA be less than or equal to 4.5 to 1.0 and the Company must comply with the liquidity covenant. • For the fiscal quarter ending December 31, 2021, the interest coverage covenant is suspended, the leverage covenant will require that the ratio of consolidated total indebtedness to consolidated EBITDA be less than or equal to 4.0 to 1.0 and the Company must comply with the liquidity covenant. • Beginning on January 1, 2022, the liquidity covenant is terminated. For the fiscal quarter ending March 31, 2022, the leverage covenant will require that the ratio of consolidated total indebtedness to consolidated EBITDA be less than or equal to 3.5 to 1.0 and the interest coverage covenant will require that the ratio of consolidated EBITDA to consolidated interest expense be greater than or equal to 3.5 to 1.0. As of March 31, 2021, the Company was in compliance with the applicable covenants. In addition, the amended credit agreement contains events of default that are customary for a facility of this nature and similar to the prior credit agreement, and includes a cross default provision whereby an event of default under other material indebtedness, as defined in the amended credit agreement, will be considered an event of default under the amended credit agreement. During the covenant suspension period, the applicable margin for loans is 2.00% for adjusted LIBOR loans and 1.00% for alternate base rate loans. Otherwise, borrowings under the amended 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 1.25% to 1.75% for adjusted LIBOR loans and 0.25% to 0.75% for alternate base rate loans. During the covenant suspension period, the commitment fee rate is 0.40% per annum. Otherwise, the Company pays a commitment fee determined in accordance with the pricing grid on the average daily unused amount of the revolving credit facility and certain fees with respect to letters of credit. For the three months ended March 31, 2021 and 2020, the weighted average interest rate under the revolving credit facility borrowings was nil and 3.2%, respectively. As of March 31, 2021, the commitment fee was 15.0 basis points. The Company incurred and deferred $7.2 million in financing costs in connection with the amended credit agreement. 1.50% Convertible Senior Notes In May 2020, the Company issued $500.0 million aggregate principal amount of 1.50% convertible senior notes due 2024 (the “Convertible Senior Notes”). The Convertible Senior Notes bear interest at the rate of 1.50% per annum, payable semiannually in arrears on June 1 and December 1 of each year, beginning December 1, 2020. The Convertible Senior Notes will mature on June 1, 2024, unless earlier converted in accordance with their terms, redeemed in accordance with their terms or repurchased. The net proceeds from the offering (including the net proceeds from the exercise of the over-allotment option) was $488.8 million, after deducting the initial purchasers’ discount and estimated offering expenses paid by the Company, of which the Company used $47.9 million to pay the cost of the capped call transactions described below. The Company utilized $439.9 million to repay indebtedness that was outstanding under its revolving credit facility at the time, and to pay related fees and expenses. The Convertible Senior Notes are not secured and are not guaranteed by any of the Company’s subsidiaries. The indenture governing the Convertible Senior Notes does not contain any financial or operating covenants or restrictions on the payments of dividends, the incurrence of indebtedness or the issuance or repurchase of securities by the Company or any of its subsidiaries. The Convertible Senior Notes are convertible into cash, shares of the Company’s Class C common stock or a combination of cash and shares of Class C common stock, at the Company’s election, as described further below. The initial conversion rate is 101.8589 shares of the Company’s Class C common stock per $1,000 principal amount of Convertible Senior Notes (equivalent to an initial conversion price of approximately $9.82 per share of Class C common stock), subject to adjustment if certain events occur. Prior to the close of business on the business day immediately preceding January 1, 2024, holders may (at their option) convert their Convertible Senior Notes only upon satisfaction of one or more of the following conditions: • during any calendar quarter commencing after the calendar quarter ended on September 30, 2020 (and only during such calendar quarter), if the last reported sale price of the Company’s Class C common stock for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day; • during the five five • upon the occurrence of specified corporate events or distributions on the Company’s Class C common stock; or • if the Company calls any Convertible Senior Notes for redemption prior to the close of business on the business day immediately preceding January 1, 2024. On or after January 1, 2024, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert all or any portion of their Convertible Senior Notes at the conversion rate at any time irrespective of the foregoing conditions. On or after December 6, 2022, the Company may redeem for cash all or any part of the Convertible Senior Notes, at its option, if the last reported sale price of the Company’s Class C common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides notice of redemption at a redemption price equal to 100% of the aggregate principal amount of the Convertible Senior Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date. If the Company undergoes a fundamental change (as defined in the indenture governing the Convertible Senior Notes) prior to the maturity date, subject to certain conditions, holders may require the Company to repurchase for cash all or any portion of their Convertible Senior Notes in principal amounts of $1,000 or an integral multiple thereof at a price which will be equal to 100% of the aggregate principal amount of the Convertible Senior Notes to be repurchased, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. Concurrently with the offering of the Convertible Senior Notes, the Company entered into privately negotiated capped call transactions with JPMorgan Chase Bank, National Association, HSBC Bank USA, National Association and Citibank, N.A. (the “option counterparties”). The capped call transactions are expected generally to reduce potential dilution to the Company’s Class C common stock upon any conversion of Convertible Senior Notes and/or offset any cash payments the Company is required to make in excess of the aggregate principal amount of converted Convertible Senior Notes upon any conversion thereof, as the case may be, with such reduction and/or offset subject to a cap based on the cap price. The cap price of the capped call transactions is initially $13.4750 per share of the Company’s Class C common stock, representing a premium of 75% above the last reported sale price of the Company’s Class C common stock on May 21, 2020, and is subject to certain adjustments under the terms of the capped call transactions. The Convertible Senior Notes contain a cash conversion feature, and as a result, the Company has separated it into liability and equity components. The Company valued the liability component based on its borrowing rate for a similar debt instrument that does not contain a conversion feature. The equity component, which is recognized as a debt discount, was valued as the difference between the face value of the Convertible Senior Notes and the fair value of the liability component. In connection with the Convertible Senior Notes issuance, the Company incurred deferred financing costs of $12.3 million, primarily related to fees paid to the initial purchasers of the offering, as well as legal and accounting fees. These costs were allocated on a pro rata basis, with $10.0 million allocated to the debt component and $2.2 million allocated to the equity component. The debt discount and the debt portion of the deferred financing costs are being amortized to interest expense over the term of the Convertible Senior Notes using the effective interest rate method. The effective interest rate for the three months ended March 31, 2021 was 6.8%. The following table illustrates the components of the Convertible Senior Notes for the periods indicated: Balance As of (In thousands) March 31, 2021 December 31, 2020 Liability component Principal $ 500,000 $ 500,000 Unamortized debt discount (73,821) (79,031) Unamortized issuance costs (7,879) (8,501) Net carrying amount $ 418,300 $ 412,468 Equity component, net of issuance costs $ 71,646 $ 88,672 The following table illustrates the components of interest expense relating to the Convertible Senior Notes. There was no such comparable interest expense recorded for the same period in the prior fiscal year as the Convertible Senior Notes were not yet outstanding. Three months ended March 31, (In thousands) 2021 Coupon interest $ 1,875 Non-cash amortization of debt discount 5,210 Amortization of deferred financing costs 622 Convertible senior notes interest expense $7,707 3.250% Senior Notes In June 2016, the Company issued $600 million aggregate principal amount of 3.250% senior unsecured notes due June 15, 2026 (the “Senior Notes”). Interest is payable semi-annually on June 15 and December 15 beginning December 15, 2016. The Company may redeem some or all of the Senior Notes at any time, or from time to time, at redemption prices described in the indenture governing the Senior Notes. The indenture governing the Senior Notes contains negative covenants that limit the Company’s ability to engage in certain transactions and are subject to material exceptions described in the indenture. The Company incurred and deferred $5.4 million in financing costs in connection with the Senior Notes. Interest Expense Interest expense, net, was $14.1 million and $6.0 million for the three months ended March 31, 2021 and 2020, respectively, inclusive of amounts related to the Senior Convertible Notes, as detailed above. Interest expense includes 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.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES 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. Under Armour Securities Litigation On March 23, 2017, three separate securities cases previously filed against the Company in the United States District Court for the District of Maryland (the “District Court”) were consolidated under the caption In re Under Armour Securities Litigation, Case No. 17-cv-00388-RDB (the “Consolidated Securities Action”). On August 4, 2017, the lead plaintiff in the Consolidated Securities Action, Aberdeen City Council as Administrating Authority for the North East Scotland Pension Fund (“Aberdeen”), joined by named plaintiff Bucks County Employees Retirement Fund (“Bucks County”), filed a consolidated amended complaint (the “Amended Complaint”) against the Company, the Company’s then-Chief Executive Officer, Kevin Plank, and former Chief Financial Officers Lawrence Molloy and Brad Dickerson. The Amended Complaint alleged 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. The Amended Complaint also asserted 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 were asserted against the Company, Mr. Plank, 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. The Amended Complaint alleged 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. On November 9, 2017, the Company and the other defendants filed motions to dismiss the Amended Complaint. On September 19, 2018, the District Court dismissed the Securities Act claims with prejudice and the Exchange Act claims without prejudice. Lead plaintiff Aberdeen, joined by named plaintiff Monroe County Employees’ Retirement Fund (“Monroe”), filed a Second Amended Complaint on November 16, 2018, asserting claims under the Exchange Act and naming the Company and Mr. Plank as the remaining defendants. The remaining defendants filed a motion to dismiss the Second Amended Complaint on January 17, 2019. On August 19, 2019, the District Court dismissed the Second Amended Complaint with pre judice. In September 2019, plaintiffs Aberdeen and Bucks County filed an appeal in the United States Court of Appeals for the Fourth Circuit challenging the decisions by the District Court on September 19, 2018 and August 19, 2019 (the “Appeal”). The Appeal was fully briefed as of January 16, 2020. On November 6 and December 17, 2019, two purported shareholders of the Company filed putative securities class actions in the District Court against the Company and certain of its current and former executives (captioned Patel v. Under Armour, Inc ., No. 1:19-cv-03209-RDB (“ Patel ”), and Waronker v. Under Armour, Inc. , No. 1:19-cv-03581-RDB (“ Waronker ”), respectively). The complaints in Patel and Waronker alleged violations of Section 10(b) (and Rule 10b-5) of the Exchange Act, against all defendants, and Section 20(a) control person liability under the Exchange Act against the current and former officers named in the complaints. The complaints claimed that the defendants’ disclosures and statements supposedly misrepresented or omitted that the Company was purportedly shifting sales between quarterly periods allegedly to appear healthier and that the Company was under investigation by and cooperating with the United States Department of Justice (“DOJ”) and the United States Securities and Exchange Commission (“SEC”) since July 2017. On November 18, 2019, Aberdeen, the lead plaintiff in the Consolidated Securities Action, filed in the District Court a motion for an indicative ruling under Federal Rule of Civil Procedure 62.1 (the “Rule 62.1 Motion”) seeking relief from the final judgment pursuant to Federal Rule of Civil Procedure 60(b). The Rule 62.1 Motion alleged that purported newly discovered evidence entitled Aberdeen to relief from the District Court’s final judgment. Aberdeen also filed motions seeking (i) to consolidate the Patel and Waronker cases with the Consolidated Securities Action, and (ii) to be appointed lead plaintiff over the consolidated cases. On January 22, 2020, the District Court granted Aberdeen’s Rule 62.1 motion and indicated that it would grant a motion for relief from the final judgment and provide Aberdeen with the opportunity to file a third amended complaint if the Fourth Circuit remanded for that purpose. The District Court further stated that it would, upon remand, consolidate the Patel and Waronker cases with the Consolidated Securities Action and appoint Aberdeen as the lead plaintiff over the consolidated cases. On August 13, 2020, the Fourth Circuit remanded the Appeal to the District Court for the limited purpose of allowing the District Court to rule on Aberdeen’s motion seeking relief from the final judgment pursuant to Federal Rule of Civil Procedure 60(b). On September 14, 2020, the District Court issued an order granting that relief. The District Court’s order also consolidated the Patel and Waronker cases into the Consolidated Securities Action and appointed Aberdeen as lead plaintiff over the Consolidated Securities Action. On December 4, 2020, the Company and Mr. Plank filed a motion to dismiss the TAC for failure to state a claim. That motion is currently pending. State Court Derivative Complaints In June and July 2018, two purported stockholder derivative complaints were filed in Maryland state court (in cases captioned Kenney v. Plank, et al. (filed June 29, 2018) and Luger v. Plank, et al. (filed July 26, 2018), respectively). The cases were consolidated on October 19, 2018 under the caption Kenney v. Plank, et. al. The consolidated complaint in the Kenney matter names Mr. Plank, certain other current and former members of the Company’s Board of Directors, certain former Company executives, and Sagamore Development Company, LLC (“Sagamore”) as defendants, and names the Company as a nominal defendant. The consolidated complaint asserts breach of fiduciary duty, unjust enrichment, and corporate waste claims against the individual defendants and asserts a claim against Sagamore for aiding and abetting certain of the alleged breaches of fiduciary duty. The consolidated complaint seeks damages on behalf of the Company and certain corporate governance related actions. The consolidated complaint includes allegations similar to those in the Amended Complaint in the Consolidated Securities Action matter discussed above, challenging, among other things, the Company’s disclosures related to growth and consumer demand for certain of the Company’s products, as well as stock sales by certain individual defendants. The consolidated complaint also makes allegations related to the Company’s purchase of certain parcels of land from entities controlled by Mr. Plank (through Sagamore). Sagamore purchased the parcels in 2014. Its total investment in the parcels was approximately $72.0 million, which included the initial $35.0 million purchase price for the property, an additional $30.6 million to terminate a lease encumbering the property and approximately $6.4 million of development costs. As previously disclosed, in June 2016, the Company purchased the unencumbered parcels for $70.3 million in order to further expand the Company’s corporate headquarters to accommodate its growth needs. The Company negotiated a purchase price for the parcels that it determined represented the fair market value of the parcels and approximated the cost to the seller to purchase and develop the parcels. In connection with its evaluation of the potential purchase, the Company engaged an independent third-party to appraise the fair market value of the parcels, and the Audit Committee of the Company’s Board of Directors engaged its own independent appraisal firm to assess the parcels. The Audit Committee determined that the terms of the purchase were reasonable and fair, and the transaction was approved by the Audit Committee in accordance with the Company’s policy on transactions with related persons. On March 29, 2019, the court in the consolidated Kenney action granted the Company’s and the defendants’ motion to stay that case pending the outcome of both the Consolidated Securities Action and an earlier-filed derivative action asserting similar claims relating to the Company’s purchase of parcels in Port Covington (which action has since been dismissed in its entirety). The court ordered stay in the consolidated Kenney action remains in effect at this time. Prior to the filing of the derivative complaints in Kenney v. Plank, et al. and Luger v. Plank, et al., both of the purported stockholders had sent the Company’s Board of Directors a letter demanding that the Company pursue claims similar to the claims asserted in the derivative complaints. Following an investigation, a majority of disinterested and independent directors of the Company determined that the claims should not be pursued by the Company and informed both of these purported stockholders of that determination. Between August 11, 2020 and October 21, 2020, three additional purported shareholder derivative complaints were filed in Maryland state court (in cases captioned Cordell v. Plank, et al. (filed August 11, 2020), Klein v. Plank, et al. (filed October 2, 2020), and Salo v. Plank, et al. (filed October 21, 2020), respectively). The complaints in these cases name Mr. Plank, certain other current and former members of the Company’s Board of Directors, and certain current and former Company executives as defendants, and name the Company as a nominal defendant. The complaints in these actions assert allegations similar to those in the TAC filed in the Consolidated Securities Action matter discussed above, including allegations challenging (i) the Company’s disclosures related to growth and consumer demand for certain of the Company’s products; (ii) the Company’s practice of shifting sales between quarterly periods supposedly to appear healthier and its purported failure to disclose that practice; (iii) the Company’s internal controls with respect to revenue recognition and inventory management; (iv) the Company’s supposed failure to timely disclose investigations by the SEC and DOJ; (v) the compensation paid to the Company’s directors and executives while the alleged wrongdoing was occurring; and/or (vi) stock sales by certain individual defendants. The complaints assert breach of fiduciary duty, unjust enrichment, and corporate waste claims against the individual defendants. These complaints seek damages on behalf of the Company and certain corporate governance related actions. Prior to the filing of the derivative complaints in these three actions, none of the purported stockholders made a demand that the Company’s Board of Directors pursue the claims asserted in the complaints. In February 2021, the court issued notices of contemplated dismissal for lack of jurisdiction without prejudice pursuant to Maryland Rule 2-507 in the Klein matter (as to the individual defendants and Under Armour) and in the Cordell matter (as to the individual defendants). Consistent with these notices, in March 2021, the court issued (i) an order dismissing the Klein matter as to the individual defendants and Under Armour for lack of jurisdiction without prejudice; and (ii) an order dismissing the Cordell matter as to the individual defendants for lack of jurisdiction without prejudice. On March 16, 2021, the court issued a notice of contemplated dismissal for lack of jurisdiction without prejudice pursuant to Maryland Rule 2-507 in the Salo matter (as to the individual defendants and Under Armour). On March 23, 2021, the plaintiff in the Salo matter filed a motion to defer entry of an order of dismissal. That motion is currently pending. The Company believes that the claims asserted in the derivative complaints filed in Maryland state court are without merit and intends to defend these matters vigorously. However, because of the inherent uncertainty as to the outcome of these proceedings, the Company is unable at this time to estimate the possible impact of the outcome of these matters. Federal Court Derivative Complaints In July 2018, a stockholder derivative complaint was filed in the United States District Court for the District of Maryland, in a case captioned Andersen v. Plank, et al. The complaint in the Andersen matter names Mr. Plank, certain other current and former members of the Company’s Board of Directors and certain former Company executives as defendants, and names the Company as a nominal defendant. The complaint asserts breach of fiduciary duty and unjust enrichment claims against the individual defendants, and seeks damages on behalf of the Company and certain corporate governance related actions. The complaint includes allegations similar to those in the Amended Complaint in the Consolidated Securities Action matter discussed above, challenging, among other things, the Company’s disclosures related to growth and consumer demand for certain of the Company’s products and stock sales by certain individual defendants. The Andersen action was stayed from December 2018 to August 2019 and again from September 2019 to September 2020 (the “2019 Stay Order”). Pursuant to a series of court ordered stipulations, the terms of the 2019 Stay Order remained in effect through and including January 19, 2021. The stay expired on January 19, 2021. Prior to the filing of the complaint in the Andersen action, the plaintiff had sent the Company’s Board of Directors a letter demanding that the Company pursue claims similar to the claims asserted in the complaint. Following an investigation, a majority of disinterested and independent directors of the Company determined that the claims should not be pursued by the Company and informed the plaintiff of that determination. During the pendency of the Andersen action , the plaintiff sent the Company’s Board of Directors a second letter demanding that the Company pursue claims similar to the claims asserted in the TAC in the Consolidated Securities Action. Following an investigation, a majority of disinterested and independent directors of the Company determined that the claims should not be pursued by the Company and informed the plaintiff of that determination. In September 2020, two additional derivative complaints were filed in the United States District Court for the District of Maryland (in cases captioned Olin v. Plank, et al. (filed September 1, 2020), and Smith v. Plank, et al. (filed September 8, 2020), respectively). Prior to the filing of the derivative complaints in these two actions, neither of the purported stockholders made a demand that the Company’s Board of Directors pursue the claims asserted in the complaints. On November 20, 2020, another derivative complaint was filed in the United States District Court for the District of Maryland, in a case captioned Viskovich v. Plank, et al. Prior to filing his derivative complaint, the plaintiff in the Viskovich matter made a demand that the Company’s Board of Directors pursue the claims asserted in the complaint but filed suit before the Board had responded to the demand. The complaints in the Olin, Smith, and Viskovich cases name Mr. Plank, certain other current and former members of the Company’s Board of Directors, and certain current and former Company executives as defendants, and name the Company as a nominal defendant. The complaints in these actions assert allegations similar to those in the TAC filed in the Consolidated Securities Action matter discussed above, including allegations challenging (i) the Company’s disclosures related to growth and consumer demand for certain of the Company’s products; (ii) the Company’s practice of shifting sales between quarterly periods supposedly to appear healthier and its purported failure to disclose that practice; (iii) the Company’s internal controls with respect to revenue recognition and inventory management; (iv) the Company’s supposed failure to timely disclose investigations by the SEC and DOJ; and/or (v) the compensation paid to the Company’s directors and executives while the alleged wrongdoing was occurring. The complaints assert breach of fiduciary duty, unjust enrichment, gross mismanagement, and/or corporate waste claims against the individual defendants. The Viskovich complaint also asserts a contribution claim against certain defendants under the federal securities laws. These complaints seek damages on behalf of the Company and certain corporate governance related actions. On January 27, 2021, the court entered an order consolidating for all purposes the Andersen, Olin, Smith and Viskovich actions into a single action under the caption Andersen v. Plank, et al. (the “Federal Court Derivative Action”). In February 2021, counsel for the Smith and Olin plaintiffs, on the one hand, and counsel for the Andersen and Viskovich plaintiffs, on the other hand, filed motions seeking to be appointed as lead counsel in the Federal Court Derivative Action. These motions are currently pending. The Company believes that the claims asserted in the Federal Court Derivative Action are without merit and intends to defend this matter 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. Wells Notices On May3, 2021, the Company announced that it entered into a settlement with the SEC resolving the previously announced SEC investigation related to disclosure and the impact of certain “pull forward” sales for the third quarter of 2015 through the fourth quarter of 2016. The Company agreed to pay a civil monetary penalty of $9.0 million and to cease and desist from c ommitting or causing any violations and any future violations of Section 17(a)(2) and (a)(3) of the Securities Act and Sections 13(a) or the Exchange Act and specific rules thereunder while neither admitting nor denying the SEC’s findings. The SEC Staff has confirmed that it does not intend to recommend that any enforcement action be taken against the Company’s Executive Chairman, Chief Financial Officer or any other member of management in connection with this investigation.This settlement resolves all outstanding SEC claims with respect to the investigation that was the subject of the previously disclosed Wells Notices received by the Company and its Executive Chairman and Chief Financial Officer. As previously announced, the Company had also received requests for documents and information from the U.S. Department of Justice (the “DOJ”) arising out of substantially the same matters. The Company has not received any requests from the DOJ since the second quarter of 2020, and although there can be no assurance, absent new information, the Company does not currently anticipate additional engagement with the DOJ relating to this matter.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTSFair 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. Our financial assets (liabilities) measured at fair value on a recurring basis consisted of the following types of instruments as of March 31, 2021, December 31, 2020 and March 31, 2020: March 31, 2021 December 31, 2020 March 31, 2020 (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) $ — $ (13,173) $ — $ — $ (22,122) $ — $ — $ 35,971 $ — TOLI policies held by the Rabbi Trust $ — $ 8,001 $ — $ — $ 7,697 $ — $ — $ 5,471 $ — Deferred Compensation Plan obligations $ — $ (14,641) $ — $ — $ (14,314) $ — $ — $ (10,443) $ — 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 foreign currency contracts represent unrealized 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 fair value of the trust owned life insurance (“TOLI”) policies held by the Rabbi Trust are 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 March 31, 2021 and December 31, 2020 the fair value of the Company's Convertible Senior Notes was $982.9 million and $828.2 million, respectively. The Company did not have Convertible Senior Notes as of March 31, 2020. As of March 31, 2021 , December 31, 2020, and March 31, 2020, the fair value of the Company's Senior Notes was $602.2 million, $602.6 million and $551.5 million, respectively. The carrying value of the Company's other long term debt approximated its fair value as of March 31, 2021 , December 31, 2020 and March 31, 2020, respectively. 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). Some assets are not measured at fair value on an ongoing basis but are subject to fair value adjustments only in certain circumstances. These assets can include long-lived assets and goodwill that have been reduced to fair value when impaired. Assets that are written down to fair value when impaired are not subsequently adjusted to fair value unless further impairment occurs.

Risk Management and Derivatives

Risk Management and Derivatives	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
RISK MANAGEMENT AND DERIVATIVES	RISK MANAGEMENT AND DERIVATIVES The Company is exposed to global market risks, including the effects of changes in foreign currency and interest rates. The Company uses derivative instruments to manage financial exposures that occur in the normal course of business and does not hold or issue derivatives for trading or speculative purposes. The Company may elect to designate certain derivatives as hedging instruments under U.S. GAAP. The Company formally documents all relationships between designated hedging instruments and hedged items, as well as its risk management objectives and strategies for undertaking hedge transactions. This process includes linking all derivatives designated as hedges to forecasted cash flows and assessing, both at inception and on an ongoing basis, the effectiveness of the hedging relationships. The Company's foreign exchange risk management program consists of designated cash flow hedges and undesignated hedges. As of March 31, 2021, the Company has hedge instruments primarily for: • British Pound/U.S. Dollar; • Euro/U.S. Dollar; • U.S. Dollar/Chinese Renminbi; • U.S. Dollar/Canadian Dollar; • U.S. Dollar/Mexican Peso; and • U.S. Dollar/Japanese Yen currency pairs. All derivatives are recognized on the unaudited condensed consolidated balance sheets at fair value and classified based on the instrument’s maturity date. The following table presents the fair values of derivative instruments within the unaudited condensed consolidated balance sheets. Refer to Note 7 of the unaudited condensed consolidated financial statements for a discussion of the fair value measurements. (In thousands) Balance Sheet Classification March 31, 2021 December 31, 2020 March 31, 2020 Derivatives designated as hedging instruments under ASC 815 Foreign currency contracts Other current assets $ 1,759 $ — $ 35,087 Foreign currency contracts Other long term assets 727 — 4,791 Total derivative assets designated as hedging instruments $ 2,486 $ — $ 39,878 Foreign currency contracts Other current liabilities $ 13,021 $ 17,601 $ 789 Foreign currency contracts Other long term liabilities 3,331 6,469 — Total derivative liabilities designated as hedging instruments $ 16,352 $ 24,070 $ 789 Derivatives not designated as hedging instruments under ASC 815 Foreign currency contracts Other current assets $ 5,114 $ 2,384 $ 8,582 Total derivative assets not designated as hedging instruments $ 5,114 $ 2,384 $ 8,582 Foreign currency contracts Other current liabilities $ 1,087 $ 6,464 $ 1,740 Total derivative liabilities not designated as hedging instruments $ 1,087 $ 6,464 $ 1,740 The following table presents the amounts in the unaudited condensed consolidated statements of operations in which the effects of cash flow hedges are recorded and the effects of cash flow hedge activity on these line items. Three months ended March 31, 2021 2020 (In thousands) Total Amount of Gain (Loss) on Cash Flow Hedge Activity Total Amount of Gain (Loss) on Cash Flow Hedge Activity Net revenues $ 1,257,195 $ (3,147) $ 930,240 $ 1,788 Cost of goods sold $ 628,554 $ (2,218) $ 499,256 $ 1,117 Interest expense, net $ (14,137) $ (9) $ (5,960) $ (9) Other income (expense), net $ (7,180) $ — $ 1,534 $ 21 The following tables present the amounts affecting the unaudited statements of comprehensive income (loss). (In thousands) Balance as of December 31, 2020 Amount of gain (loss) recognized in other comprehensive income (loss) on derivatives Amount of gain (loss) reclassified from other comprehensive income (loss) into income Balance as of March 31, 2021 Derivatives designated as cash flow hedges Foreign currency contracts $ (25,908) $ 4,656 $ (5,365) $ (15,886) Interest rate swaps (541) — (9) (531) Total designated as cash flow hedges $ (26,449) $ 4,656 $ (5,374) $ (16,417) (In thousands) Balance as of Amount of gain (loss) recognized in other comprehensive income (loss) on derivatives Amount of gain (loss) reclassified from other comprehensive income (loss) into income Balance as of March 31, 2020 Derivatives designated as cash flow hedges Foreign currency contracts $ (6,005) $ 46,876 $ 2,905 $ 37,965 Interest rate swaps (577) — (9) (568) Total designated as cash flow hedges $ (6,582) $ 46,876 $ 2,896 $ 37,397 The following table presents the amounts in the unaudited condensed consolidated statements of operations in which the effects of undesignated derivative instruments are recorded and the effects of fair value hedge activity on these line items. Three months ended March 31, 2021 2020 (In thousands) Total Amount of Gain (Loss) on Fair Value Hedge Activity Total Amount of Gain (Loss) on Fair Value Hedge Activity Other income (expense), net $ (7,180) $ (2,737) $ 1,534 $ (2,826) Cash Flow Hedges 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 driven by non-functional currency generated revenue, non-functional currency inventory purchases, investments in U.S. Dollar denominated available-for-sale debt securities, and certain other intercompany transactions. The Company enters into foreign currency contracts to reduce the risk associated with the foreign currency exchange rate fluctuations on these transactions. Certain contracts are designated as cash flow hedges. As of March 31, 2021, December 31, 2020 and March 31, 2020, the aggregate notional value of the Company's outstanding cash flow hedges was $688.9 million, $812.5 million and $681.5 million, respectively, with contract maturities ranging from one The Company may enter 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 interest rate swap contracts are accounted for as cash flow hedges. Refer to Note 5 of the unaudited condensed consolidated financial statements for a discussion of long term debt. As of March 31, 2021, December 31, 2020 and March 31, 2020, the Company had no outstanding interest rate swap contracts, respectively. For contracts designated as cash flow hedges, the changes in fair value are reported as other comprehensive income (loss) and are recognized in current earnings in the period or periods during which the hedged transaction affects current earnings. Effective hedge results are classified in the unaudited condensed consolidated statements of operations in the same manner as the underlying exposure. Undesignated Derivative Instruments The Company may elect to enter into foreign exchange forward contracts to mitigate the change in fair value of specific assets and liabilities on the unaudited condensed consolidated balance sheets. These undesignated instruments are recorded at fair value as a derivative asset or liability on the unaudited condensed consolidated balance sheets with their corresponding change in fair value recognized in other expense, net, together with the re-measurement gain or loss from the hedged balance sheet position. As of March 31, 2021, December 31, 2020 and March 31, 2020, the total notional value of the Company's outstanding undesignated derivative instruments was $317.7 million, $313.1 million and $303.0 million, respectively. Credit Risk 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	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
PROVISION FOR INCOME TAXES	PROVISION FOR INCOME TAXES Provision for Income Taxes The Company computes its quarterly income tax provision under the effective tax rate method by applying an estimated anticipated annual effective rate to our year-to-date income, except for significant unusual or extraordinary transactions. Losses from jurisdictions for which no benefit can be recognized are excluded from the overall computations of the estimated annual effective tax rate and a separate estimated annual effective tax rate is computed and applied to ordinary income or loss in the loss jurisdiction. Income taxes for any significant and unusual or extraordinary transactions are computed and recorded in the period in which the specific transaction occurs. For the period ended March 31, 2021, the United States and certain other foreign jurisdictions, primarily in Latin America, were considered loss jurisdictions.These jurisdictions are treated discretely and were excluded from the annual effective tax rate computation for purposes of computing the interim tax provision and a separate annual effective rate was computed for each of these jurisdictions and applied against their respective year-to-date ordinary income or loss. For the comparable period ended March 31, 2020, all global jurisdictions were included in the estimated annual effective tax rate. The effective rates for income taxes were 11.5% and (3.8)% for the three months ended March 31, 2021 and 2020, respectively. The change in the Company’s effective tax rate was primarily driven by the income tax effect of the United States being considered a loss jurisdiction as of the three months ended March 31, 2021 and the non-recurring recording of valuation allowances on certain previously recognized deferred tax assets in the United States and China during the three months ended March 31, 2021. Valuation Allowance The Company evaluates on a quarterly basis whether the deferred tax assets are realizable which requires significant judgment. The Company considers all available positive and negative evidence, including historical operating performance and expectations of future operating performance. To the extent the Company believes it is more likely than not that all or some portion of the asset will not be realized, valuation allowances are established against the Company's deferred tax assets, which increase income tax expense in the period when such a determination is made.

Earnings per Share

Earnings per Share	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following represents a reconciliation from basic income (loss) per share to diluted income (loss) per share: Three Months Ended March 31, (In thousands, except per share amounts) 2021 2020 Numerator Net income (loss) $ 77,752 $ (589,681) Denominator Weighted average common shares outstanding Class A, B and C 456,014 452,871 Effect of dilutive securities Class A, B, and C 3,212 — Weighted average common shares and dilutive securities outstanding Class A, B, and C 459,226 452,871 Basic net income (loss) per share of Class A, B and C common stock $ 0.17 $ (1.30) Diluted net income (loss) per share of Class A, B and C common stock $ 0.17 $ (1.30) Effects of potentially dilutive securities are presented only in periods in which they are dilutive. Stock options and restricted stock units representing 4.3 million shares of Class A and C common stock outstanding for the three months ended March 31, 2021, were excluded from the computation of diluted earnings per share because their effect would have been anti-dilutive. Due to the Company being in a net loss position for the three months ended March 31, 2020, there were no stock options or restricted stock units included in the computation of diluted earnings per share, as their effect would have been anti-dilutive.

Segment Data and Disaggregated

Segment Data and Disaggregated Revenue	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
SEGMENT DATA AND DISAGGREGATED REVENUE	SEGMENT DATA AND DISAGGREGATED REVENUE 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, Europe, the Middle East and Africa (“EMEA”), Asia-Pacific, and Latin America. Each geographic segment operates exclusively in one industry: the development, marketing and distribution of branded performance apparel, footwear and accessories. Total expenditures for additions to long-lived assets are not disclosed as this information is not regularly provided to the CODM. Prior to the sale of MyFitnessPal in December 2020, the CODM also received discrete financial information for the Connected Fitness Segment. However, starting January 1, 2021, the Company no longer reports Connected Fitness as a discrete reportable operating segment (see Note 1 to the unaudited condensed consolidated financial statements). All prior period balances have been recast to conform to current period presentation. Such reclassifications did not affect total consolidated revenues, consolidated income from operations or consolidated net income. The Company excludes certain corporate costs from its segment profitability measures. The Company reports these costs within Corporate Other, along with the revenue and costs related to the Company's remaining MMR platforms, which is designed to provide increased transparency and comparability of the Company's operating segments' performance. Furthermore, the majority of the costs included within Corporate Other consists largely of general and administrative expenses not allocated to an operating segment, including expenses associated with centrally managed departments such as global marketing, global IT, global supply chain, innovation and other corporate support functions; costs related to the Company's global assets and global marketing; costs related to the Company’s headquarters such as restructuring and restructuring related charges; and certain foreign currency hedge gains and losses. The following tables summarize the Company's net revenues and operating income (loss) by its geographic segments. Intercompany balances were eliminated for separate disclosure. Three Months Ended March 31, (In thousands) 2021 2020 Net revenues North America $ 805,727 $ 608,980 EMEA 193,883 137,904 Asia-Pacific 210,220 95,686 Latin America 48,311 53,088 Corporate Other (1) (946) 34,582 Total net revenues $ 1,257,195 $ 930,240 Three Months Ended March 31, (In thousands) 2021 2020 Operating income (loss) North America $ 210,562 $ (3,773) EMEA 26,686 3,704 Asia-Pacific 46,513 (36,841) Latin America 1,457 (48,184) Corporate Other (1) (178,328) (473,086) Total operating income (loss) 106,890 (558,180) Interest expense, net (14,137) (5,960) Other income (expense), net (7,180) 1,534 Income (loss) before income taxes $ 85,573 $ (562,606) The following tables summarize the Company's net revenues by product category and distribution channels. Three Months Ended March 31, (In thousands) 2021 2020 Apparel $ 810,041 $ 598,287 Footwear 309,047 209,688 Accessories 117,396 67,748 Net Sales 1,236,484 875,723 License revenues 21,657 19,935 Corporate Other (1) (946) 34,582 Total net revenues $ 1,257,195 $ 930,240 Three Months Ended March 31, (In thousands) 2021 2020 Wholesale $ 799,587 $ 591,772 Direct to Consumer 436,897 283,951 Net Sales 1,236,484 875,723 License revenues 21,657 19,935 Corporate Other (1) (946) 34,582 Total net revenues $ 1,257,195 $ 930,240 (1) Prior to Fiscal 2021, the Company's Connected Fitness segment was discretely disclosed, however, effective January 1, 2021 Corporate Other now includes the remaining Connected Fitness business consisting of MMR for Fiscal 2021 and the entire

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of Under Armour Inc. and its wholly owned subsidiaries. Certain information in footnote disclosures normally included in annual financial statements was condensed or omitted for the interim periods presented in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”) and accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim consolidated financial statements. These unaudited condensed consolidated financial statements are presented in U.S. Dollars. In the opinion of management, all adjustments consisting of normal, recurring adjustments considered necessary for a fair statement of the financial position and results of operations were included. Intercompany balances and transactions were eliminated upon consolidation. The unaudited condensed consolidated balance sheet as of March 31, 2021 is derived from the audited financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 ("Fiscal 2020"), filed with the SEC on February 24, 2021 ("Annual Report on Form 10-K for Fiscal 2020"), which should be read in conjunction with these unaudited condensed consolidated financial statements. The unaudited results for the three months ended March 31, 2021, are not necessarily indicative of the results to be expected for the fiscal year ending December 31, 2021 ("Fiscal 2021"), or any other portions thereof. Connected Fitness Prior to January 1, 2021, the Company's previously reported "Connected Fitness" segment was composed of digital subscription and advertising conducted through various platforms, predominantly the MyFitnessPal, MapMyFitness, consisting of applications such as MapMyRun and MapMyRide (collectively "MMR"), and Endomondo platforms. While the Company continues to operate the MMR platforms, MyFitnessPal was sold in December 2020 and Endomondo was wound down in December 2020 as part of the Company's 2020 restructuring plan. As a result of these changes, starting in the first quarter of Fiscal 2021 the Company no longer reports Connected Fitness as a discrete reportable segment. The operating results of MMR are now included within the Company’s Corporate Other segment. Where applicable, all prior period balances that used to reflect Connected Fitness discretely have been recast to be included within the Corporate Other reportable segment, to conform with current period presentation. Such reclassifications did not affect total consolidated net revenues, consolidated income from operations or consolidated net income.
Management Estimates and COVID-19 Update	Management Estimates and COVID-19 Update The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the unaudited condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates, judgments and assumptions are evaluated on an on-going basis. The Company bases its estimates on historical experience and on various other assumptions that it believes are reasonable at that time; however, actual results could differ from these estimates. Further, COVID-19 continues to significantly impact the global economy. As the impacts of the pandemic continue to evolve, estimates and assumptions about future events and their effects cannot be determined with certainty and therefore require increased judgment. The extent to which the evolving pandemic impacts the Company's financial statements will depend on a number of factors including, but not limited to, any new information that may emerge concerning the severity of COVID-19 and the actions that governments may take to contain the virus or treat its impact. While the Company believes it has made appropriate accounting estimates and assumptions based on the facts and circumstances available as of this reporting date, the Company may experience further impacts based on long-term effects on the Company's customers and the countries in which the
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted CashThe Company considers all highly liquid investments with an original maturity of three months or less at the date of purchase to be cash and cash equivalents. The Company's restricted cash is reserved for payments related to claims for its captive insurance program, which is included in prepaid expenses and other current assets on the Company's unaudited condensed consolidated balance sheets.
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 wholesale customers. None of the Company's customers accounted for more than 10% of accounts receivable as of March 31, 2021, December 31, 2020 and March 31, 2020, respectively. For the three months ended March 31, 2021 and 2020, no customer accounted for more than 10% of the Company's net revenues. The Company regularly evaluates the credit risk of the large wholesale customers which make up the majority of the Company's accounts receivable. Refer to the "Credit Losses - Allowance for Doubtful Accounts" below for a discussion of the evaluation of credit losses.
Credit Losses - Allowance for Doubtful Accounts	Credit Losses - Allowance for Doubtful Accounts Credit losses are the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations. The Company is exposed to credit losses primarily through customer receivables associated with the sale of products within the Company's wholesale channels, recorded within accounts receivable, net on the Company's unaudited condensed consolidated balance sheet. The Company also has other receivables, including receivables from licensing arrangements recorded in prepaid expenses and other current assets on the Company's unaudited condensed consolidated balance sheet. Credit is extended to customers based on a credit review. The credit review considers each customer’s financial condition, including a review of the customers established credit rating or, if an established customer rating is not available, then the Company's assessment of the customer’s creditworthiness is based on their financial statements, local industry practices, and business strategy. A credit limit and terms of credit are established for each customer based on the outcome of this review. The Company actively monitors ongoing credit exposure through review of customer balances against terms and payments against due dates. To mitigate credit risk, the Company may require customers to provide security in the form of guarantees, letters of credit, or prepayment. The Company is also exposed to credit losses through credit card receivables associated with the sale of products within the Company's direct to consumer channel. The allowance for doubtful accounts is based on the Company’s assessment of the collectibility of customer accounts. The Company makes ongoing estimates relating to the collectibility of accounts receivable and records an allowance for estimated losses expected from the inability of its customers to make required payments. The Company establishes expected credit losses by evaluating historical levels of credit losses, current economic conditions that may affect a customer’s ability to pay, and creditworthiness of significant customers. These inputs are used to determine a range of expected credit losses and an allowance is recorded within the range. Accounts receivable are written off when there is no reasonable expectation of recovery. The following table illustrates the activity in the Company's allowance for doubtful accounts: (In thousands) Balance as of Increases (decreases) to Write-Offs Balance as of Allowance for doubtful accounts - $ 20,350 $ (1,316) $ (45) $ 18,989 Allowance for doubtful accounts - $ 7,029 $ — $ — $ 7,029 The allowance for doubtful accounts was established with information available as of March 31, 2021, including reasonable and supportable estimates of future risk.
Revenue Recognition	Revenue Recognition The Company recognizes revenue pursuant to Accounting Standards Codification 606 ("ASC 606"). Net revenues consist of net sales of apparel, footwear and accessories, license revenues and revenues from digital subscriptions and advertising. The Company recognizes revenue when it satisfies its performance obligations by transferring control of promised products or services to its customers, which occurs either at a point in time or over time, depending on when the customer obtains the ability to direct the use of and obtain substantially all of the remaining benefits from the products or services. The amount of revenue recognized considers terms of sale that create variability in the amount of consideration that the Company ultimately expects to be entitled to in exchange for the products or services and is subject to an overall constraint that a significant revenue reversal will not occur in future periods. Sales taxes imposed on the Company’s revenues from product sales are presented on a net basis on the unaudited condensed consolidated statements of operations, and therefore do not impact net revenues or costs of goods sold. Revenue transactions associated with the sale of apparel, footwear, and accessories, comprise a single performance obligation, which consists of the sale of products to customers either through wholesale or direct to consumer channels. The Company satisfies the performance obligation and records revenues when transfer of control has passed to the customer, based on the terms of sale. In the Company’s wholesale channel, transfer of control is based upon shipment under free on board shipping point for most goods or upon receipt by the customer depending on the country of the sale and the agreement with the customer. The Company may also ship product directly from its supplier to wholesale customers and recognize revenue when the product is delivered to and accepted by the customer. In the Company’s direct to consumer channel, transfer of control takes place at the point of sale for brand and factory house customers and upon shipment to substantially all e-commerce customers. Payment terms for wholesale transactions are established in accordance with local and industry practices. Payment is generally required within 30 to 60 days of shipment to or receipt by the wholesale customer in the United States, and generally within 60 to 90 days of shipment to or receipt by the wholesale customer internationally. Payment is generally due at the time of sale for direct to consumer transactions. Gift cards issued to customers by the Company are recorded as contract liabilities until they are redeemed, at which point revenue is recognized. The Company also estimates and recognizes revenue for gift card balances not expected to ever be redeemed ("breakage") to the extent that it does not have a legal obligation to remit the value of such unredeemed gift cards to the relevant jurisdiction as unclaimed or abandoned property. Such estimates are based upon historical redemption trends, with breakage income recognized in proportion to the pattern of actual customer redemptions. Revenue from the Company's licensing arrangements is recognized over time during the period that licensees are provided access to the Company's trademarks and benefit from such access through their sales of licensed products. These arrangements require licensees to pay a sales-based royalty, which for most arrangements may be subject to a contractually guaranteed minimum royalty amount. Payments are generally due quarterly. The Company recognizes revenue for sales-based royalty arrangements (including those for which the royalty exceeds any contractually guaranteed minimum royalty amount) as licensed products are sold by the licensee. If a sales-based royalty is not ultimately expected to exceed a contractually guaranteed minimum royalty amount, the minimum is recognized as revenue over the contractual period, if all other criteria of revenue recognition have been met. This sales-based output measure of progress and pattern of recognition best represents the value transferred to the licensee over the term of the arrangement, as well as the amount of consideration that the Company is entitled to receive in exchange for providing access to its trademarks. Revenue from digital subscriptions is recognized on a gross basis and is recognized over the term of the subscription. The Company receives payments in advance of revenue recognition for subscriptions and these payments are recorded as contract liabilities in the Company's unaudited condensed consolidated balance sheet. Related commission cost is included in selling, general and administrative expense in the unaudited condensed consolidated statement of operations. Revenue from digital advertising is recognized as the Company satisfies performance obligations pursuant to customer insertion orders. The Company records reductions to revenue for estimated customer returns, allowances, markdowns and discounts. The Company bases its estimates on historical rates of customer returns and allowances as well as the specific identification of outstanding returns, markdowns and allowances that have not yet been received by the Company. The actual amount of customer returns and allowances, which is inherently uncertain, may differ from the Company’s estimates. If the Company determines that actual or expected returns or allowances are significantly higher or lower than the reserves it established, it would record a reduction or increase, as appropriate, to net sales in the period in which it makes such a determination. Provisions for customer specific discounts are based on negotiated arrangements with certain major customers. Reserves for returns, allowances, markdowns and discounts are included within customer refund liability and the value of inventory associated with reserves for sales returns are included within prepaid expenses and other current assets on the unaudited condensed consolidated balance sheet. At a minimum, the Company reviews and refines these estimates on a quarterly basis. The following table presents the customer refund liability, as well as the associated value of inventory for the periods indicated: (In thousands) Balance as of Balance as of Balance as of Customer refund liability $ 191,979 $ 203,399 $ 208,172 Inventory associated with the reserves $ 54,540 $ 57,867 $ 63,339 Contract Liabilities Contract liabilities are recorded when a customer pays consideration, or the Company has a right to an amount of consideration that is unconditional, before the transfer of a good or service to the customer, and thus represent the Company's obligation to transfer the good or service to the customer at a future date. The Company's contract liabilities primarily consist of payments received in advance of revenue recognition for subscriptions for the Company's digital fitness applications and royalty arrangements, included in other current liabilities, and gift cards, included in accrued expenses, on the Company's unaudited condensed consolidated balance sheets. As of March 31, 2021, December 31, 2020, and March 31, 2020, contract liabilities were $25.5 million, $26.7 million and $58.5 million, respectively. For the three months ended March 31, 2021, the Company recognized $4.3 million of revenue that was previously included in contract liabilities as of December 31, 2020. For the three months ended March 31, 2020, the Company recognized $20.3 million of revenue that was previously included in contract liabilities as of December 31, 2019. The change in the contract liabilities balance primarily results from the timing differences between the Company's satisfaction of performance obligations and the customer's payment. Commissions related to subscription revenue are capitalized and recognized over the subscription period. Shipping and Handling Costs The Company charges customers shipping and handling fees based on contractual terms, which are recorded in net revenues. The Company incurs freight costs associated with shipping goods to customers. These costs are recorded as a component of cost of goods sold.
Equity Method Investment	Equity Method Investment The Company has a common stock investment of 29.5% in Dome Corporation ("Dome"), the Company's Japanese licensee. The Company accounts for its investment in Dome under the equity method, given it has the ability to exercise significant influence, but not control, over Dome. The Company recorded its allocable share of Dome’s net income (loss) of $1.8 million and $(1.4) million for the three months ended March 31, 2021 and 2020, respectively, within income (loss) from equity method investment on the unaudited condensed consolidated statements of operations and as an adjustment to the invested balance within other long term assets on the unaudited condensed consolidated balance sheets. As of March 31, 2021, the carrying value of the Company's investment in Dome was $1.8 million. In addition to the investment in Dome, the Company has a license agreement with Dome. The Company recorded license revenues from Dome of $6.8 million and $6.7 million for the three months ended March 31, 2021 and 2020, respectively. As of March 31, 2021, December 31, 2020, and March 31, 2020, the Company had $5.4 million, $22.9 million, and $7.0 million, respectively, in licensing receivables outstanding, recorded in the prepaid expenses and other current assets line item within the Company's unaudited condensed consolidated balance sheets. On March 2, 2020, as part of the Company's acquisition of Triple Pte. Ltd., the Company assumed 49.5% of common stock ownership in UA Sports (Thailand) Co., Ltd. (“UA Sports Thailand”). The Company accounts for its investment in UA Sports Thailand under the equity method, given it has the ability to exercise significant influence, but not control, over UA Sports Thailand. For the three months ended March 31, 2021 and 2020, respectively, the Company recorded the allocable share of UA Sports Thailand’s net income of $0.2 million and net loss of $0.4 million, respectively, within income (loss) from equity method investment on the unaudited condensed consolidated statements of operations and as an adjustment to the invested balance within other long term assets on the unaudited condensed consolidated balance sheets. As of March 31, 2021, the carrying value of the Company’s investment in UA Sports Thailand was $5.2 million.
Recently Issued Accounting Standards/Recently Adopted Accounting Standards	Recently Issued Accounting Standards In August 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-06 "Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40)" ("ASU 2020-06"). The amendment in this update simplifies the accounting for convertible instruments by reducing the number of accounting models available for convertible debt instruments and convertible preferred stock. This update also amends the guidance for the derivatives scope exception for contracts in an entity's own equity to reduce form-over-substance-based accounting conclusions and requires the application of the if-converted method for calculating diluted earnings per share. The update also requires entities to provide expanded disclosures about the terms and features of convertible instruments, how the instruments have been reported in the entity’s financial statements, and information about events, conditions, and circumstances that can affect how to assess the amount or timing of an entity’s future cash flows related to those instruments. The guidance is effective for interim and annual periods beginning after December 15, 2021. The Company is currently evaluating this guidance to determine the impact it may have on its unaudited condensed consolidated financial statements. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of Effects of Reference Rate Reform on Financial Reporting and then issued a subsequent amendment to the initial guidance under ASU 2021-01 (collectively Topic 848). Topic 848 provides practical expedients and exceptions for applying GAAP to contracts, hedging relationships, derivatives and other transactions affected by reference rate reform if certain criteria are met. The expedients and exceptions provided by the amendments in this update apply only to contracts, hedging relationships, derivatives and other transactions that reference the London interbank offered rate (“LIBOR”) or another reference rate expected to be discontinued as a result of reference rate reform. Topic 848 is currently effective and upon adoption may be applied prospectively to contract modifications and hedging relationships made on or before December 31, 2022. The Company is currently evaluating this guidance to determine the impact it may have on its unaudited condensed consolidated financial statements.
Fair Value of Financial Instruments	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.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Schedule of Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the unaudited condensed consolidated balance sheets to the unaudited condensed consolidated statements of cash flows: (In thousands) March 31, 2021 December 31, 2020 March 31, 2020 Cash and cash equivalents $ 1,348,737 $ 1,517,361 $ 959,318 Restricted cash 10,943 11,154 8,850 Total Cash, cash equivalents and restricted cash $ 1,359,680 $ 1,528,515 $ 968,168
Schedule of Accounts Receivable and Prepaid Expense and Other Current Assets Allowance for Doubtful Accounts	(In thousands) Balance as of Increases (decreases) to Write-Offs Balance as of Allowance for doubtful accounts - $ 20,350 $ (1,316) $ (45) $ 18,989 Allowance for doubtful accounts - $ 7,029 $ — $ — $ 7,029
Schedule of Customer Refund Liability and Inventory Associated with the Reserves	The following table presents the customer refund liability, as well as the associated value of inventory for the periods indicated: (In thousands) Balance as of Balance as of Balance as of Customer refund liability $ 191,979 $ 203,399 $ 208,172 Inventory associated with the reserves $ 54,540 $ 57,867 $ 63,339

Restructuring and Related Imp_2

Restructuring and Related Impairment Charges (Tables)	3 Months Ended
	Mar. 31, 2021
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The following table illustrates the costs recorded during the three months ended March 31, 2021, as well as the Company's current estimates of the amount expected to be incurred in connection with the 2020 restructuring plan: Restructuring and Impairment Charges Recorded Estimated Restructuring and Impairment Charges (1) (In thousands) Three months ended March 31, 2020 Three months ended March 31, 2021 Remaining to be Incurred Total to be Incurred under plan Costs recorded in cost of goods sold: Contract-based royalties $ — $ — $ — $ 11,608 Inventory write-offs — — 4,500 5,268 Total costs recorded in cost of goods sold — — 4,500 16,876 Net costs (recoveries) recorded in restructuring and related impairment charges: Property and equipment impairment 7,094 — 8,342 37,622 Intangible asset impairment — — — 4,351 Right-of-use asset impairment 290,813 — — 293,495 Employee related costs — (584) 2,005 30,000 Contract exit costs (2) — 434 86,242 165,684 Other asset write off — 1,298 16,300 30,672 Other restructuring costs 3,182 5,965 2,771 21,300 Total costs recorded in restructuring and impairment charges 301,089 7,113 115,660 583,124 Total restructuring and impairment charges $ 301,089 $ 7,113 $ 120,160 $ 600,000 (1) Estimated restructuring and impairment charges reflect the high-end of the range of the estimated charges expected by the Company in connection with the 2020 restructuring plan. (2) Contract exit costs are primarily comprised of proposed lease exits of certain brand and factory house stores and office facilities, and proposed marketing and other contract exits.
Summary of Activity in the Restructuring Reserve	A summary of the activity in the restructuring reserve related to the Company's 2020 restructuring plan, as well as prior restructuring plans in 2018 and 2017 are as follows: (In thousands) Employee Related Costs Contract Exit Costs Other Restructuring Related Costs Balance at January 1, 2021 $ 12,868 $ 61,642 $ 6,098 Net additions (recoveries) charged to expense (584) 3,581 520 Cash payments charged against reserve (2,922) (22,789) (3,005) Foreign exchange and other 155 735 77 Balance at March 31, 2021 $ 9,517 $ 43,169 $ 3,690

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Lease costs	The following table illustrates operating and variable lease costs, included in selling, general and administrative expenses within the Company's unaudited condensed consolidated statement of operations, for the periods indicated: Three months ended March 31, (In thousands) 2021 2020 Operating lease costs $ 34,935 $ 37,872 Variable lease costs $ 2,920 $ 1,986 The weighted average remaining lease term and discount rate for the periods indicated below were as follows: March 31, 2021 December 31, 2020 March 31, 2020 Weighted average remaining lease term (in years) 9.05 9.12 9.64 Weighted average discount rate 3.82 % 3.83 % 3.99 % Supplemental Cash Flow Information The following table presents supplemental information relating to cash flow arising from lease transactions: Three months ended March 31, (In thousands) 2021 2020 Cash paid for amounts included in the measurement of lease liabilities Operating cash outflows from operating leases $ 45,909 $ 36,547 Leased assets obtained in exchange for new operating lease liabilities $ 4,074 $ 72,963
Operating lease liability maturity	: (In thousands) 2021 $ 150,290 2022 163,805 2023 143,554 2024 124,776 2025 96,576 2026 and thereafter 467,029 Total lease payments $ 1,146,030 Less: Interest 183,820 Total present value of lease liabilities (1) $ 962,210

Credit Facility and Other Lon_2

Credit Facility and Other Long Term Debt (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Components of Convertible Senior Notes	The following table illustrates the components of the Convertible Senior Notes for the periods indicated: Balance As of (In thousands) March 31, 2021 December 31, 2020 Liability component Principal $ 500,000 $ 500,000 Unamortized debt discount (73,821) (79,031) Unamortized issuance costs (7,879) (8,501) Net carrying amount $ 418,300 $ 412,468 Equity component, net of issuance costs $ 71,646 $ 88,672
Schedule of Interest Expense Related to Convertible Senior Notes	Three months ended March 31, (In thousands) 2021 Coupon interest $ 1,875 Non-cash amortization of debt discount 5,210 Amortization of deferred financing costs 622 Convertible senior notes interest expense $7,707

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Financial Assets and (Liabilities) Measured at Fair Value	Our financial assets (liabilities) measured at fair value on a recurring basis consisted of the following types of instruments as of March 31, 2021, December 31, 2020 and March 31, 2020: March 31, 2021 December 31, 2020 March 31, 2020 (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) $ — $ (13,173) $ — $ — $ (22,122) $ — $ — $ 35,971 $ — TOLI policies held by the Rabbi Trust $ — $ 8,001 $ — $ — $ 7,697 $ — $ — $ 5,471 $ — Deferred Compensation Plan obligations $ — $ (14,641) $ — $ — $ (14,314) $ — $ — $ (10,443) $ —

Risk Management and Derivativ_2

Risk Management and Derivatives (Tables)	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives Balance Sheet Location	The following table presents the fair values of derivative instruments within the unaudited condensed consolidated balance sheets. Refer to Note 7 of the unaudited condensed consolidated financial statements for a discussion of the fair value measurements. (In thousands) Balance Sheet Classification March 31, 2021 December 31, 2020 March 31, 2020 Derivatives designated as hedging instruments under ASC 815 Foreign currency contracts Other current assets $ 1,759 $ — $ 35,087 Foreign currency contracts Other long term assets 727 — 4,791 Total derivative assets designated as hedging instruments $ 2,486 $ — $ 39,878 Foreign currency contracts Other current liabilities $ 13,021 $ 17,601 $ 789 Foreign currency contracts Other long term liabilities 3,331 6,469 — Total derivative liabilities designated as hedging instruments $ 16,352 $ 24,070 $ 789 Derivatives not designated as hedging instruments under ASC 815 Foreign currency contracts Other current assets $ 5,114 $ 2,384 $ 8,582 Total derivative assets not designated as hedging instruments $ 5,114 $ 2,384 $ 8,582 Foreign currency contracts Other current liabilities $ 1,087 $ 6,464 $ 1,740 Total derivative liabilities not designated as hedging instruments $ 1,087 $ 6,464 $ 1,740
Effects of Cash Flow Hedges	The following table presents the amounts in the unaudited condensed consolidated statements of operations in which the effects of cash flow hedges are recorded and the effects of cash flow hedge activity on these line items. Three months ended March 31, 2021 2020 (In thousands) Total Amount of Gain (Loss) on Cash Flow Hedge Activity Total Amount of Gain (Loss) on Cash Flow Hedge Activity Net revenues $ 1,257,195 $ (3,147) $ 930,240 $ 1,788 Cost of goods sold $ 628,554 $ (2,218) $ 499,256 $ 1,117 Interest expense, net $ (14,137) $ (9) $ (5,960) $ (9) Other income (expense), net $ (7,180) $ — $ 1,534 $ 21
Cash Flows in AOCI	The following tables present the amounts affecting the unaudited statements of comprehensive income (loss). (In thousands) Balance as of December 31, 2020 Amount of gain (loss) recognized in other comprehensive income (loss) on derivatives Amount of gain (loss) reclassified from other comprehensive income (loss) into income Balance as of March 31, 2021 Derivatives designated as cash flow hedges Foreign currency contracts $ (25,908) $ 4,656 $ (5,365) $ (15,886) Interest rate swaps (541) — (9) (531) Total designated as cash flow hedges $ (26,449) $ 4,656 $ (5,374) $ (16,417) (In thousands) Balance as of Amount of gain (loss) recognized in other comprehensive income (loss) on derivatives Amount of gain (loss) reclassified from other comprehensive income (loss) into income Balance as of March 31, 2020 Derivatives designated as cash flow hedges Foreign currency contracts $ (6,005) $ 46,876 $ 2,905 $ 37,965 Interest rate swaps (577) — (9) (568) Total designated as cash flow hedges $ (6,582) $ 46,876 $ 2,896 $ 37,397
Schedule of Fair Value Hedging Activity	The following table presents the amounts in the unaudited condensed consolidated statements of operations in which the effects of undesignated derivative instruments are recorded and the effects of fair value hedge activity on these line items. Three months ended March 31, 2021 2020 (In thousands) Total Amount of Gain (Loss) on Fair Value Hedge Activity Total Amount of Gain (Loss) on Fair Value Hedge Activity Other income (expense), net $ (7,180) $ (2,737) $ 1,534 $ (2,826)

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of Reconciliation of Basic Earnings per Share to Diluted Earnings per Share	The following represents a reconciliation from basic income (loss) per share to diluted income (loss) per share: Three Months Ended March 31, (In thousands, except per share amounts) 2021 2020 Numerator Net income (loss) $ 77,752 $ (589,681) Denominator Weighted average common shares outstanding Class A, B and C 456,014 452,871 Effect of dilutive securities Class A, B, and C 3,212 — Weighted average common shares and dilutive securities outstanding Class A, B, and C 459,226 452,871 Basic net income (loss) per share of Class A, B and C common stock $ 0.17 $ (1.30) Diluted net income (loss) per share of Class A, B and C common stock $ 0.17 $ (1.30)

Segment Data and Disaggregate_2

Segment Data and Disaggregated Revenue (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated	Intercompany balances were eliminated for separate disclosure. Three Months Ended March 31, (In thousands) 2021 2020 Net revenues North America $ 805,727 $ 608,980 EMEA 193,883 137,904 Asia-Pacific 210,220 95,686 Latin America 48,311 53,088 Corporate Other (1) (946) 34,582 Total net revenues $ 1,257,195 $ 930,240
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	Three Months Ended March 31, (In thousands) 2021 2020 Operating income (loss) North America $ 210,562 $ (3,773) EMEA 26,686 3,704 Asia-Pacific 46,513 (36,841) Latin America 1,457 (48,184) Corporate Other (1) (178,328) (473,086) Total operating income (loss) 106,890 (558,180) Interest expense, net (14,137) (5,960) Other income (expense), net (7,180) 1,534 Income (loss) before income taxes $ 85,573 $ (562,606)
Net Revenues by Product Category	Three Months Ended March 31, (In thousands) 2021 2020 Apparel $ 810,041 $ 598,287 Footwear 309,047 209,688 Accessories 117,396 67,748 Net Sales 1,236,484 875,723 License revenues 21,657 19,935 Corporate Other (1) (946) 34,582 Total net revenues $ 1,257,195 $ 930,240 Three Months Ended March 31, (In thousands) 2021 2020 Wholesale $ 799,587 $ 591,772 Direct to Consumer 436,897 283,951 Net Sales 1,236,484 875,723 License revenues 21,657 19,935 Corporate Other (1) (946) 34,582 Total net revenues $ 1,257,195 $ 930,240 (1) Prior to Fiscal 2021, the Company's Connected Fitness segment was discretely disclosed, however, effective January 1, 2021 Corporate Other now includes the remaining Connected Fitness business consisting of MMR for Fiscal 2021 and the entire

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - Customer Concentration Risk - None	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Accounts Receivable
Business Acquisition [Line Items]
Concentration risk, percentage	10.00%	10.00%	10.00%
Net Revenue
Business Acquisition [Line Items]
Concentration risk, percentage	10.00%	10.00%

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Cash and cash equivalents	$ 1,348,737	$ 1,517,361	$ 959,318
Restricted cash	10,943	11,154	8,850
Total Cash, cash equivalents and restricted cash	$ 1,359,680	$ 1,528,515	$ 968,168	$ 796,008

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Accounts Receivable and Doubtful Accounts (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 20,350
Increases (decreases) to Costs and Expenses	(1,316)
Write-Offs Net of Recoveries	(45)
Ending Balance	18,989
Prepaid Expense and Other Current Assets, Allowance for Credit Loss [Roll Forward]
Beginning Balance	7,029
Increases (decreases) to Costs and Expenses	0
Write-Offs Net of Recoveries	0
Ending Balance	7,029
Allowance for doubtful accounts receivable	$ 18,989

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Revenue Recognition/Advertising Costs/Equity Method Investments (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Mar. 02, 2020
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Contract liability	$ 25,500,000	$ 58,500,000	$ 26,700,000
Revenue recognized	4,300,000	20,300,000
Shipping and handling costs	23,300,000	14,900,000
Loss from equity method investments	(2,060,000)	5,528,000
Net revenues	$ 1,257,195,000	930,240,000
Dome Corporation
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Ownership percentage	29.50%
Loss from equity method investments	$ (1,800,000)	1,400,000
Investment	1,800,000
Dome Corporation | Licensing Receivable
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounts receivable, net	5,400,000	7,000,000	22,900,000
Dome Corporation | License
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net revenues	6,800,000	6,700,000
UA Sports (Thailand) Co., Ltd
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Ownership percentage				49.50%
Loss from equity method investments	200,000	400,000
Investment	5,200,000
Customer Refund Liability
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserves for customer returns allowances markdowns and discounts	191,979,000	208,172,000	203,399,000
Inventory Associated with the Reserves
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reserves for customer returns allowances markdowns and discounts	$ 54,540,000	$ 63,339,000	$ 57,867,000

Restructuring and Related Imp_3

Restructuring and Related Impairment Charges - 2020 restructuring Plan (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Non-Cash Charges
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs			$ 381,000
2020 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring and related impairment charges	$ 7,113	$ 301,089
Restructuring and related impairment charges recorded to date	$ 479,800
2020 Restructuring Plan | Cash Restructuring Charges
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs			219,000
2020 Restructuring Plan | Facilities and Lease Terminations
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs			61,000
2020 Restructuring Plan | Employee Related Costs
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs			30,000
2020 Restructuring Plan | Contract Termination And Other Restructuring
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs			128,000
2020 Restructuring Plan | Long-Lived Asset Impairment
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs			291,000
2020 Restructuring Plan | Intangible and Other Asset Impairment
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs			90,000
2020 Restructuring Plan | Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs			550,000
2020 Restructuring Plan | Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs			$ 600,000

Restructuring and Related Imp_4

Restructuring and Related Impairment Charges - Summary of Costs (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Mar. 31, 2020	Jun. 30, 2021
Restructuring Cost and Reserve [Line Items]
Total costs recorded in restructuring and impairment charges		$ 7,113	$ 436,463
Corporate Other | North America
Restructuring Cost and Reserve [Line Items]
Total costs recorded in restructuring and impairment charges		2,600
Corporate Other | Latin America
Restructuring Cost and Reserve [Line Items]
Total costs recorded in restructuring and impairment charges		4,200
Corporate Other | Asia-Pacific
Restructuring Cost and Reserve [Line Items]
Total costs recorded in restructuring and impairment charges		200
2020 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Contract-based royalties		0	0
Inventory Write-down		0	0
Property and equipment impairment		0	7,094
Intangible asset impairment		0	0
Right-of-use asset impairment		0	290,813
Employee related costs		(584)	0
Contract exit costs		434	0
Other asset write off		1,298	0
Other restructuring costs		5,965	3,182
Restructuring and related impairment charges		7,113	301,089
2020 Restructuring Plan | Cost of goods sold
Restructuring Cost and Reserve [Line Items]
Total costs recorded in restructuring and impairment charges		0	0
2020 Restructuring Plan | Restructuring and impairment charges
Restructuring Cost and Reserve [Line Items]
Total costs recorded in restructuring and impairment charges		$ 7,113	$ 301,089
2020 Restructuring Plan | Forecast
Restructuring Cost and Reserve [Line Items]
Contract-based royalties	$ 0			$ 11,608
Inventory Write-down	4,500			5,268
Property and equipment impairment	8,342			37,622
Intangible asset impairment	0			4,351
Right-of-use asset impairment	0			293,495
Employee related costs	2,005			30,000
Contract exit costs	86,242			165,684
Other asset write off	16,300			30,672
Other restructuring costs	2,771			21,300
Restructuring and related impairment charges	120,160			600,000
2020 Restructuring Plan | Forecast | Cost of goods sold
Restructuring Cost and Reserve [Line Items]
Total costs recorded in restructuring and impairment charges	4,500			16,876
2020 Restructuring Plan | Forecast | Restructuring and impairment charges
Restructuring Cost and Reserve [Line Items]
Total costs recorded in restructuring and impairment charges	$ 115,660			$ 583,124

Restructuring and Related Imp_5

Restructuring and Related Impairment Charges - Restructuring Reserve (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Employee Related Costs | Restructuring Plan, 2020, 2018 and 2017
Restructuring Reserve [Roll Forward]
Balance at January 1, 2021	$ 12,868
Net additions (recoveries) charged to expense	(584)
Cash payments charged against reserve	(2,922)
Foreign exchange and other	155
Balance at March 31, 2021	9,517
Contract Exit Costs | Restructuring Plan, 2020, 2018 and 2017
Restructuring Reserve [Roll Forward]
Balance at January 1, 2021	61,642
Net additions (recoveries) charged to expense	3,581
Cash payments charged against reserve	(22,789)
Foreign exchange and other	735
Balance at March 31, 2021	43,169
Other Restructuring Related Costs | Restructuring Plan, 2020, 2018 and 2017
Restructuring Reserve [Roll Forward]
Balance at January 1, 2021	6,098
Net additions (recoveries) charged to expense	520
Cash payments charged against reserve	(3,005)
Foreign exchange and other	77
Balance at March 31, 2021	3,690
Abandoned Facilities and Write Off of Fixed Assets | 2020 Restructuring Plan
Restructuring Reserve [Roll Forward]
Net additions (recoveries) charged to expense	$ 3,600

Leases - Leases Costs (Details)

Leases - Leases Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Leases [Abstract]
Operating lease costs	$ 34,935	$ 37,872
Variable lease payments	$ 2,920	$ 1,986
Weighted average remaining lease term (in years)	9 years 18 days	9 years 7 months 20 days	9 years 1 month 13 days
Weighted average discount rate	3.82%	3.99%	3.83%
Operating cash outflows from operating leases	$ 45,909	$ 36,547
Leased assets obtained in exchange for new operating lease liabilities	4,074	$ 72,963
Leases not yet commenced	$ 5,500

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) $ in Thousands	Mar. 31, 2021USD ($)
Leases [Abstract]
2021	$ 150,290
2022	163,805
2023	143,554
2024	124,776
2025	96,576
2026 and thereafter	467,029
Total lease payments	1,146,030
Less: Interest	183,820
Total present value of lease liabilities	$ 962,210

Credit Facility and Other Lon_3

Credit Facility and Other Long Term Debt - Credit Facility (Details)	Mar. 08, 2019	May 31, 2020USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Mar. 31, 2020USD ($)
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 1,250,000,000
LIBOR | Minimum
Debt Instrument [Line Items]
Variable rate			1.25%
LIBOR | Maximum
Debt Instrument [Line Items]
Variable rate			1.75%
Prime Rate | Minimum
Debt Instrument [Line Items]
Variable rate			0.25%
Prime Rate | Maximum
Debt Instrument [Line Items]
Variable rate			0.75%
Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 300,000,000
Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Credit agreement, term	5 years
Maximum borrowing capacity		$ 1,100,000,000
Outstanding under credit facility			$ 0	$ 0	$ 600,000,000
Liquidity covenant, minimum		$ 550,000,000
Covenant, consolidated EBITDA to consolidated interest expense ratio, greater than or equal		3.50
Debt, leverage covenant, consolidated total indebtedness to consolidated EBITDA ratio less than or equal		3.25
Weighted average interest rate (percent)			0.00%		3.20%
Commitment fee percentage		0.40%	0.15%
Debt financing costs			$ 7,200,000
Credit Agreement | Revolving Credit Facility | Quarter ending September 30, 2021
Debt Instrument [Line Items]
Debt, leverage covenant, consolidated total indebtedness to consolidated EBITDA ratio less than or equal		4.5
Credit Agreement | Revolving Credit Facility | Quarter ending December 31, 2021
Debt Instrument [Line Items]
Debt, leverage covenant, consolidated total indebtedness to consolidated EBITDA ratio less than or equal		4
Credit Agreement | Revolving Credit Facility | Quarter ending March, 31, 2022
Debt Instrument [Line Items]
Covenant, consolidated EBITDA to consolidated interest expense ratio, greater than or equal		3.5
Debt, leverage covenant, consolidated total indebtedness to consolidated EBITDA ratio less than or equal		3.5
Credit Agreement | LIBOR
Debt Instrument [Line Items]
Variable rate		2.00%
Credit Agreement | Base Rate
Debt Instrument [Line Items]
Variable rate		1.00%
Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 50,000,000
Letters of credit outstanding			$ 4,300,000	$ 4,300,000	$ 5,000,000

Credit Facility and Other Lon_4

Credit Facility and Other Long Term Debt - Senior Notes, Capped Call Transaction and Interest Expense (Details)	1 Months Ended	3 Months Ended
	May 31, 2020USD ($)d$ / shares	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
Repayment of credit facility	$ 439,900,000
Effective interest rate,percentage		6.80%
Interest expense, net		$ (14,137,000)	$ (5,960,000)
1.50% Convertible Senior Notes
Debt Instrument [Line Items]
Stated interest rate, percentage	1.50%
Aggregate principal	$ 500,000,000
Proceeds from debt offering	488,800,000
Payment of cap call transaction	$ 47,900,000
Initial conversion rate	0.1018589
Debt conversion price (in usd per share) | $ / shares	$ 9.82
Trading days (whether or not consecutive) | d	20
Consecutive trading days | d	30
Percentage of stock price	130.00%
Business period	5 days
Measurement period	5 days
Measurement period, percentage	98.00%
Redemption price, percentage of principal repurchased	100.00%
Cap call transaction cap price per share (in usd per share) | $ / shares	$ 13.4750
Premium over last reported sale price, percentage	75.00%
Deferred financing costs	$ 10,000,000	$ 7,879,000		$ 8,501,000
1.50% Convertible Senior Notes | Additional Paid-in Capital
Debt Instrument [Line Items]
Deferred financing costs	2,200,000
1.50% Convertible Senior Notes | Senior Notes
Debt Instrument [Line Items]
Deferred financing costs	$ 12,300,000
3.250% Senior Notes | Senior Notes
Debt Instrument [Line Items]
Stated interest rate, percentage		3.25%			3.25%
Aggregate principal					$ 600,000,000
Deferred financing costs					$ 5,400,000

Credit Facility and Other Lon_5

Credit Facility and Other Long Term Debt - Components of Convertible Senior Notes (Details) - 1.50% Convertible Senior Notes - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	May 31, 2020
Debt Instrument [Line Items]
Principal	$ 500,000	$ 500,000
Unamortized debt discount	(73,821)	(79,031)
Unamortized issuance costs	(7,879)	(8,501)	$ (10,000)
Net carrying amount	418,300	412,468
Equity component, net of issuance costs	$ 71,646	$ 88,672

Credit Facility and Other Lon_6

Credit Facility and Other Long Term Debt - Interest Expense Related to Convertible Senior Notes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Debt Instrument [Line Items]
Non-cash amortization of debt discount	$ 5,273	$ 63
1.50% Convertible Senior Notes
Debt Instrument [Line Items]
Coupon interest	1,875
Non-cash amortization of debt discount	5,210
Amortization of deferred financing costs	622
Convertible senior notes interest expense	$ 7,707

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Thousands	May 03, 2021USD ($)	Sep. 30, 2020case	Dec. 17, 2019plaintiff	Oct. 21, 2020case	Jul. 31, 2018case	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2020USD ($)	Mar. 23, 2017d
Loss Contingencies [Line Items]
Investment in parcels						$ 632,307	$ 726,568		$ 658,678
Purchases of land						8,465	31,498
Property and equipment, net						$ 632,307	$ 726,568		$ 658,678
Land
Loss Contingencies [Line Items]
Purchases of land								$ 70,300
Land | Sagamore
Loss Contingencies [Line Items]
Investment in parcels								72,000
Purchases of land								35,000
Property and equipment, net								72,000
Payment for lease termination								30,600
Development costs								$ 6,400
Under Armour Securities Litigation, Case No. 17-cv-00388-RDB | Pending Litigation
Loss Contingencies [Line Items]
Pending claims | d										3
Securities Class Actions
Loss Contingencies [Line Items]
Number of plaintiffs | plaintiff			2
Derivative Complaints
Loss Contingencies [Line Items]
Number of complaints | case		2		3	2
Wells Notices | Subsequent Event
Loss Contingencies [Line Items]
Civil money penalty	$ 9,000

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets And (Liabilities) Measured At Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
TOLI policies held by the Rabbi Trust	$ 0	$ 0	$ 0
Deferred Compensation Plan obligations	0	0	0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
TOLI policies held by the Rabbi Trust	8,001	7,697	5,471
Deferred Compensation Plan obligations	(14,641)	(14,314)	(10,443)
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
TOLI policies held by the Rabbi Trust	0	0	0
Deferred Compensation Plan obligations	0	0	0
Foreign currency contracts | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities)	0	0	0
Foreign currency contracts | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities)	(13,173)	(22,122)	35,971
Foreign currency contracts | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets (liabilities)	$ 0	$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020
Convertible Senior Notes
Debt Instrument [Line Items]
Fair value	$ 982.9	$ 828.2
Senior Notes
Debt Instrument [Line Items]
Fair value	$ 602.2	$ 602.6	$ 551.5

Risk Management and Derivativ_3

Risk Management and Derivatives - Balance Sheet Location (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative assets	$ 2,486	$ 0	$ 39,878
Derivative liabilities	16,352	24,070	789
Designated as Hedging Instrument | Foreign currency contracts | Other current assets
Derivatives, Fair Value [Line Items]
Derivative assets	1,759	0	35,087
Designated as Hedging Instrument | Foreign currency contracts | Other long term assets
Derivatives, Fair Value [Line Items]
Derivative assets	727	0	4,791
Designated as Hedging Instrument | Foreign currency contracts | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities	13,021	17,601	789
Designated as Hedging Instrument | Foreign currency contracts | Other long term liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities	3,331	6,469	0
Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative assets	5,114	2,384	8,582
Derivative liabilities	1,087	6,464	1,740
Not Designated as Hedging Instrument | Foreign currency contracts | Other current assets
Derivatives, Fair Value [Line Items]
Derivative assets	5,114	2,384	8,582
Not Designated as Hedging Instrument | Foreign currency contracts | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities	$ 1,087	$ 6,464	$ 1,740

Risk Management and Derivativ_4

Risk Management and Derivatives - Hedging Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Net revenues	$ 1,257,195	$ 930,240
Cost of goods sold	628,554	499,256
Interest expense, net	(14,137)	(5,960)
Other income (expense), net	(7,180)	1,534
Net revenues
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) on Cash Flow Hedge Activity	(3,147)	1,788
Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) on Cash Flow Hedge Activity	(2,218)	1,117
Interest expense, net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) on Cash Flow Hedge Activity	(9)	(9)
Other income (expense), net
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) on Cash Flow Hedge Activity	$ 0	$ 21

Risk Management and Derivativ_5

Risk Management and Derivatives - Derivative Other Comprehensive Income Rollforward (Details) - Cash Flow Hedges - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Derivative Asset (Liability) Rollforward [Roll Forward]
Derivative assets (liabilities), beginning	$ (26,449)	$ (6,582)
Amount of gain (loss) recognized in other comprehensive income (loss) on derivatives	4,656	46,876
Amount of gain (loss) reclassified from other comprehensive income (loss) into income	(5,374)	2,896
Derivative assets (liabilities), ending	(16,417)	37,397
Foreign currency contracts
Derivative Asset (Liability) Rollforward [Roll Forward]
Derivative assets (liabilities), beginning	(25,908)	(6,005)
Amount of gain (loss) recognized in other comprehensive income (loss) on derivatives	4,656	46,876
Amount of gain (loss) reclassified from other comprehensive income (loss) into income	(5,365)	2,905
Derivative assets (liabilities), ending	(15,886)	37,965
Interest rate swaps
Derivative Asset (Liability) Rollforward [Roll Forward]
Derivative assets (liabilities), beginning	(541)	(577)
Amount of gain (loss) recognized in other comprehensive income (loss) on derivatives	0	0
Amount of gain (loss) reclassified from other comprehensive income (loss) into income	(9)	(9)
Derivative assets (liabilities), ending	$ (531)	$ (568)

Risk Management and Derivativ_6

Risk Management and Derivatives - Effects of Undesignated Derivatives and Fair Value Hedge Activities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Derivative [Line Items]
Other income (expense), net	$ (7,180)	$ 1,534
Other income (expense), net
Derivative [Line Items]
Gain (Loss) on Fair Value Hedge Activity	$ (2,737)	$ (2,826)

Risk Management and Derivativ_7

Risk Management and Derivatives - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)d	Dec. 31, 2020USD ($)d	Mar. 31, 2020USD ($)d
Derivative [Line Items]
Minimum maturity	1 month
Maximum maturity	24 months
Interest rate swaps
Derivative [Line Items]
Number of derivative contracts outstanding | d	0	0	0
Not Designated as Hedging Instrument | Foreign currency contracts
Derivative [Line Items]
Notional amount	$ 317.7	$ 313.1	$ 303
Cash Flow Hedges | Foreign currency contracts
Derivative [Line Items]
Notional amount	$ 688.9	$ 812.5	$ 681.5

Provision for Income Taxes (Det

Provision for Income Taxes (Details)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Effective tax rate	11.50%	(3.80%)

Earnings per Share - Schedule O

Earnings per Share - Schedule Of Reconciliation Of Basic Earnings Per Share To Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Numerator
Net income (loss)	$ 77,752	$ (589,681)
Denominator
Weighted average common shares outstanding Class A, B and C (in shares)	456,014	452,871
Effect of dilutive securities Class A, B, and C (in shares)	3,212	0
Weighted average common shares and dilutive securities outstanding Class A, B, and C (in shares)	459,226	452,871
Basic net income (loss) per share of Class A, B and C common stock (in dollars per share)	$ 0.17	$ (1.30)
Diluted net income (loss) per share of Class A, B and C common stock (in dollars per share)	$ 0.17	$ (1.30)
Antidilutive securities (in shares)	4,300	0

Segment Data and Disaggregate_3

Segment Data and Disaggregated Revenue - Geographic Distribution Of The Company's Net Revenues And Operating Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Net revenues	$ 1,257,195	$ 930,240
Operating income (loss)	106,890	(558,180)
Interest expense, net	(14,137)	(5,960)
Other income (expense), net	(7,180)	1,534
Income (loss) before income taxes	85,573	(562,606)
Corporate Other
Segment Reporting Information [Line Items]
Net revenues	(946)	34,582
Operating income (loss)	(178,328)	(473,086)
North America | Operating Segments
Segment Reporting Information [Line Items]
Net revenues	805,727	608,980
Operating income (loss)	210,562	(3,773)
EMEA | Operating Segments
Segment Reporting Information [Line Items]
Net revenues	193,883	137,904
Operating income (loss)	26,686	3,704
Asia-Pacific | Operating Segments
Segment Reporting Information [Line Items]
Net revenues	210,220	95,686
Operating income (loss)	46,513	(36,841)
Latin America | Operating Segments
Segment Reporting Information [Line Items]
Net revenues	48,311	53,088
Operating income (loss)	$ 1,457	$ (48,184)

Segment Data and Disaggregate_4

Segment Data and Disaggregated Revenue - Net Revenues By Product Category and Distribution Channel (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Net revenues	$ 1,257,195	$ 930,240
Corporate Other
Segment Reporting Information [Line Items]
Net revenues	(946)	34,582
Wholesale
Segment Reporting Information [Line Items]
Revenues	799,587	591,772
Direct to Consumer
Segment Reporting Information [Line Items]
Revenues	436,897	283,951
Apparel
Segment Reporting Information [Line Items]
Revenues	810,041	598,287
Footwear
Segment Reporting Information [Line Items]
Revenues	309,047	209,688
Accessories
Segment Reporting Information [Line Items]
Revenues	117,396	67,748
Net Sales
Segment Reporting Information [Line Items]
Revenues	1,236,484	875,723
License revenues
Segment Reporting Information [Line Items]
Revenues	$ 21,657	$ 19,935