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I need help completing this comparison analysis. I need to turn this in by Sunday 8/6.

Created by EDGAR Online, Inc. UNDER ARMOUR, INC. Table_Of_Contents Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents Table Of Contents ----------------------------------------------------------------------------------TABLE1 TABLE2 TABLE3 TABLE4 TABLE5 TABLE6 TABLE7 TABLE8 TABLE9 TABLE10 TABLE11 NAME AND TITLE BENEFICIAL OWNERS TABLE12 TABLE13 TABLE14 TABLE15 TABLE16 TABLE17 TABLE18 TABLE19 TABLE20 TABLE21 TABLE22 TABLE23 TABLE24 TABLE25 TABLE26 TABLE27 TABLE28 TABLE29 TABLE30 TABLE31 TABLE32 TABLE33 TABLE34 TABLE35 BALANCE SHEET INCOME STATEMENT TABLE36 STOCKHOLDERS EQUITY CASH FLOW TABLE37 TABLE38 TABLE39 TABLE40 TABLE41 TABLE42 TABLE43 TABLE44 TABLE45 TABLE46 TABLE47 TABLE48 TABLE49 TABLE50 TABLE51 TABLE52 TABLE53 TABLE54 TABLE55 TABLE56 TABLE57 TABLE58 TABLE59 TABLE60 TABLE61 VALUATION AND QUALIFYING ACCOUNTS TABLE62 TABLE63 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE1 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents UNDER ARMOUR, INC. (Exact name of registrant as specified in its charter) _____________________________________________ Maryland 52-1990078 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 1020 Hull Street Baltimore, Maryland 21230 (410) 454-6428 (Address of principal executive (Registrant's Telephone Number, offices) (Zip Code) Including Area Code) Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE2 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents Large accelerated filer Non-accelerated filer (Do not check if a smaller reporting company) Accelerated filer Smaller reporting company Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE3 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents Year ended December 31, 2013 (In thousands) North America Other foreign countries and businesses Total net revenues 2012 % of Net Revenues Net Revenues Net Revenues $ 2,193,739 94.10% $ 1,726,733 $ 138,312 2,332,051 5.90 100.00% $ 108,188 1,834,921 ar ended December 31, 2012 2011 % of % of Net Revenues Net Revenues Net Revenues 94.10% $ 1,383,346 93.90% 5.90 100.00% $ 89,338 1,472,684 6.10 100.00% Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE4 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents changes in general economic or market conditions that could affect consumer spending and the financial health of our retail customers; our ability to effectively manage our growth and a more complex global business; our ability to effectively develop and launch new, innovative and updated products; our ability to accurately forecast consumer demand for our products and manage our inventory in response to changing demands; increased competition causing us to lose market share or reduce the prices of our products or to increase significantly our marketing efforts; Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE5 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents loss of key suppliers or manufacturers or failure of our suppliers or manufacturers to produce or deliver our products in a timely or cost-effective manner; our ability to further expand our business globally and to drive brand awareness and consumer acceptance of our products in other countries; our ability to accurately anticipate and respond to seasonal or quarterly fluctuations in our operating results; Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE6 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents the availability, integration and effective operation of management information systems and other technology; our ability to effectively integrate new businesses and investments into our company; Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE7 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents unanticipated changes in general market conditions or other factors, which may result in cancellations of advance orders or a reduction or increase in the rate of reorders placed by retailers; Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE8 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents weakening of economic conditions or consumer confidence in future economic conditions, which could reduce demand for discretionary items, such as our products; and terrorism or acts of war, or the threat thereof, or political or labor instability or unrest which could adversely affect consumer confidence and spending or interrupt production and distribution of product and raw materials. Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE9 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents devoting resources to the marketing and sale of their products, including significant advertising, media placement, partnerships and product endorsement; Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE10 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents political or labor unrest, terrorism and economic instability resulting in the disruption of trade from foreign countries in which our products are manufactured; Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE11 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents the imposition of new laws and regulations, including those relating to labor conditions, quality and safety standards, imports, trade restrictions and restrictions on the transfer of funds, as well as rules and regulations regarding climate change; Created by EDGAR Online, Inc. UNDER ARMOUR, INC. NAME_AND_TITLE Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents EXECUTIVE OFFICERS OF THE REGISTRANT Our executive officers are: Name Age Kevin A. Plank 41 Brad Dickerson 49 Kip J. Fulks 41 James H. Hardy, Jr. 54 Karl-Heinz Maurath 52 Matthew C. Mirchin 54 Adam Peake 45 Henry B. Stafford 39 c. EXECUTIVE OFFICERS OF THE REGISTRANT Position Chairman and Chief Executive Officer Chief Financial Officer Chief Operating Officer and President of Product Chief Supply Chain Officer President, International Executive Vice President, Global Marketing Senior Vice President of Sales, North America President, North America Created by EDGAR Online, Inc. UNDER ARMOUR, INC. BENEFICIAL_OWNERS Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents High 2013 First Quarter (January 1 - March 31) Second Quarter (April 1 - June 30) Third Quarter (July 1 - September 30) Fourth Quarter (October 1 - December 31) 2012 First Quarter (January 1 - March 31) Second Quarter (April 1 - June 30) Third Quarter (July 1 - September 30) Fourth Quarter (October 1 - December 31) Low $ $ $ $ 51.94 65.55 81.64 87.92 $ $ $ $ 44.32 50.29 59.45 75.44 $ $ $ $ 49.68 53.93 60.96 60.20 $ $ $ $ 35.13 44.30 44.07 46.11 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE12 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents Plan Category Equity compensation plans approved by security holders Equity compensation plans not approved by security holders Number of securities to be issued upon exercise of outstanding options, warrants and rights (a) 4,935,598 960,000 Weighted-average exercise price of outstanding options, warrants and rights (b) Weighted-average exercise price of outstanding options, warrants and rights (b) $ 16.22 $ 18.50 Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) (c) 11,146,678 - Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE13 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents Under Armour, Inc. NYSE Market Index S&P 500 Apparel, Accessories & Luxury Goods [[Image Removed]] 12/31/2008 12/31/2009 12/31/2010 $ 100.00 $ 114.43 $ 230.03 $ 100.00 $ 128.95 $ 146.69 $ 100.00 $ 162.72 $ 229.76 12/31/2011 12/31/2012 12/31/2013 $ 301.17 $ 407.13 $ 732.38 $ 141.46 $ 164.45 $ 207.85 $ 285.74 $ 293.11 $ 366.17 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE14 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents (In thousands, except per share amounts) Net revenues Cost of goods sold Gross profit Selling, general and administrative expenses Income from operations Interest expense, net Other expense, net Income before income taxes Provision for income taxes Net income Net income available per common share Basic Diluted Weighted average common shares outstanding Basic Diluted Dividends declared (In thousands) Cash and cash equivalents Working capital (1) Inventories Total assets Total debt, including current maturities Total stockholders' equity 2013 2,332,051 $ 1,195,381 1,136,670 2012 1,834,921 955,624 879,297 $ 871,572 265,098 (2,933) (1,172) 260,993 98,663 162,330 $ 670,602 208,695 (5,183) (73) 203,439 74,661 128,778 $ $ 1.54 1.50 $ $ 1.23 1.21 $ 105,348 107,979 $ 104,343 106,380 - 2013 347,489 $ 702,181 469,006 1,577,741 2012 341,841 651,370 319,286 1,157,083 $ $ $ 152,923 1,053,354 $ 61,889 816,922 Year Ended December 31, 2011 1,472,684 $ 759,848 712,836 2010 1,063,927 $ 533,420 530,507 2009 856,411 446,286 410,125 $ 550,069 162,767 (3,841) (2,064) 156,862 59,943 96,919 $ 418,152 112,355 (2,258) (1,178) 108,919 40,442 68,477 $ 324,852 85,273 (2,344) (511) 82,418 35,633 46,785 $ $ 0.94 0.92 0.67 0.67 $ $ $ $ $ $ 0.47 0.46 103,140 105,052 - 101,595 102,563 ### $ 99,696 101,301 - 2011 175,384 $ 506,056 324,409 919,210 2010 203,870 $ 406,703 215,355 675,378 2009 187,297 327,838 148,488 545,588 77,724 636,432 15,942 496,966 20,223 399,997 At December 31, $ $ $ $ Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE15 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents (In thousands) Net revenues Cost of goods sold Gross profit Selling, general and administrative expenses Income from operations Interest expense, net Other expense, net Income before income taxes Provision for income taxes Net income $ $ 2013 2,332,051 1,195,381 1,136,670 871,572 265,098 (2,933) (1,172) 260,993 98,663 162,330 Year Ended December 31, $ $ 2012 1,834,921 $ 955,624 879,297 670,602 208,695 (5,183) (73) 203,439 74,661 128,778 $ 2011 1,472,684 759,848 712,836 550,069 162,767 (3,841) (2,064) 156,862 59,943 96,919 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE16 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents (As a percentage of net revenues) Net revenues Cost of goods sold Gross profit Selling, general and administrative expenses Income from operations Interest expense, net Other expense, net Income before income taxes Provision for income taxes Net income Year Ended December 31, 2013 2012 100.00% 100.00% 51.30 52.10 48.70 47.90 37.30 36.50 11.40 11.40 (0.10) (0.30) (0.10) 11.20 11.10 4.20 4.10 7.00% 7.00% ed December 31, 2011 100.00% 51.60 48.40 37.30 11.10 (0.30) (0.10) 10.70 4.10 6.60% Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE17 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents (In thousands) Apparel Footwear Accessories Total net sales License and other revenues Total net revenues $ $ 2013 1,762,150 $ 298,825 216,098 2,277,073 54,978 2,332,051 $ Year Ended December 31, 2012 $ Change 1,385,350 $ 376,800 238,955 59,870 165,835 50,263 1,790,140 486,933 44,781 10,197 1,834,921 $ 497,130 % Change 27.20% 25.10 30.30 27.20 22.80 27.10% Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE18 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents $176.8 million, or 33.2%, increase in direct to consumer sales, which includes 18 additional retail stores, or a 16.5% growth, since December 31, 2012, and continued growth in our ecommerce business; unit growth driven by increased distribution and new offerings in multiple product categories, most significantly in our training and hunting apparel product categories, including our new UA HEATGEAR Sonic and UA COLDGEAR Infrared product lines along with continued growth in our UA Storm and Charged Cotton platforms, and running apparel and footwear, including UA Spine; and increased average selling prices driven primarily from our higher priced apparel products, including our mountain category and women's UA Studio line. Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE19 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents approximate 50 basis point increase driven by lower North American apparel and accessories product input costs. We expect North American wholesale product input costs will continue to positively impact year over year margins during the first half of 2014, but on a more limited basis. Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE20 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents Selling costs increased $63.9 million to $239.9 million in 2013 from $176.0 million in 2012. This increase was primarily due to higher personnel and other costs incurred primarily for the continued expansion of our direct to consumer distribution channel. As a percentage of net revenues, selling costs increased to 10.3% in 2013 from 9.6% in 2012. Product innovation and supply chain costs increased $50.7 million to $209.2 million in 2013 from $158.5 million in 2012 primarily due to higher incentive compensation as well as higher personnel costs to support our growth in net revenues. As a percentage of net revenues, product innovation and supply chain costs increased to 9.0% in 2013 from 8.6% in 2012. Corporate services costs increased $45.3 million to $176.0 million in 2013 from $130.7 million in 2012. This increase was primarily attributable to higher incentive compensation as well as higher corporate personnel costs necessary to support our growth. As a percentage of net revenues, corporate services costs increased to 7.5% in 2013 from 7.1% in 2012. Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE21 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents (In thousands) Apparel Footwear Accessories Total net sales License revenues Total net revenues $ $ 2012 1,385,350 $ 238,955 165,835 1,790,140 44,781 1,834,921 $ Year Ended December 31, 2011 $ Change % Change 1,122,031 $ 263,319 23.50% 181,684 57,271 31.50 132,400 33,435 25.30 1,436,115 354,025 24.70 36,569 8,212 22.50 1,472,684 $ 362,237 24.60% Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE22 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents $134.7 million, or 33.8%, increase in direct to consumer sales, which includes 22 additional factory house stores, or a 27.5% increase, since December 31, 2011; and unit growth driven by increased distribution and new offerings in multiple product categories, most significantly in our training, hunting, running, baselayer and studio apparel product categories and running footwear category, including the launch of coldblack apparel, Armour Bra and Under Armour scent control products and our UA Spine footwear; and increased average selling prices due to a higher mix in the current year period of direct to consumer sales, along with increasing sales of our higher priced products such as Fleece, our women's UA Studio line and UA Spine footwear. Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE23 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents approximate 25 basis point decrease driven by higher inbound freight, partially due to supply chain challenges, required to meet customer demand. Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE24 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents Selling costs increased $37.2 million to $176.0 million in 2012 from $138.8 million in 2011. This increase was primarily due to higher personnel and other costs incurred primarily for the continued expansion of our direct to consumer distribution channel. As a percentage of net revenues, selling costs increased slightly to 9.6% in 2012 from 9.4% in 2011. Product innovation and supply chain costs increased $29.4 million to $158.5 million in 2012 from $129.1 million in 2011 primarily due to higher distribution facilities operating and personnel costs to support our growth in net revenues and higher personnel costs for the design and sourcing of our expanding apparel, footwear and accessory lines. As a percentage of net revenues, product innovation and supply chain costs decreased slightly to 8.6% in 2012 from 8.8% in 2011. Corporate services costs increased $16.4 million to $130.7 million in 2012 from $114.3 million in 2011. This increase was primarily attributable to higher corporate personnel cost and information technology initiatives necessary to support our growth. As a percentage of net revenues, corporate services costs decreased to 7.1% in 2012 from 7.7% in 2011 primarily due to decreased corporate personnel costs as a percentage of net revenues in 2012. Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE25 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents (In thousands) North America Other foreign countries and businesses Total net revenues $ $ 2013 2,193,739 $ 138,312 2,332,051 $ Year Ended December 31, 2012 1,726,733 108,188 1,834,921 ear Ended December 31, $ Change % Change $ 467,006 27.00% 30,124 27.80 $ 497,130 27.10% Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE26 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents (In thousands) North America Other foreign countries and businesses Total operating income $ $ 2013 271,338 $ (6,240) 265,098 $ Year Ended December 31, 2012 200,084 8,611 208,695 ear Ended December 31, $ Change % Change $ 71,254 35.60% (14,851) (172.50) $ 56,403 27.00% Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE27 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents (In thousands) North America Other foreign countries Total net revenues $ $ 2012 1,726,733 $ 108,188 1,834,921 $ Year Ended December 31, 2011 $ Change 1,383,346 $ 343,387 89,338 18,850 1,472,684 $ 362,237 % Change 24.80% 21.10 24.60% Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE28 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents (In thousands) North America Other foreign countries Total operating income $ $ 2012 200,084 $ 8,611 208,695 $ Year Ended December 31, 2011 $ Change 150,559 $ 49,525 12,208 (3,597) 162,767 $ 45,928 % Change 32.90% (29.50) 28.20% Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE29 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents (In thousands) Net revenues Gross profit Marketing SG&A expenses Other SG&A expenses Income from operations (As a percentage of annual totals) Net revenues Gross profit Marketing SG&A expenses Other SG&A expenses Income from operations Mar 31, 2013 Jun 30, 2013 Sep 30, 2013 $ 471,608 $ 454,541 $ 723,146 216,551 219,631 350,135 62,841 48,952 74,175 140,218 138,369 155,131 13,492 32,310 120,829 20.20% 19.10% 19.50% 19.30% 31.00% 30.80% 25.40% 19.90% 30.10% 22.40% 22.20% 24.80% 5.10% 12.20% 45.60% Quarter Ended Dec 31, 2013 Mar 31, 2012 Jun 30, 2012 Sep 30, 2012 Dec 31, 2012 $ 682,756 $ 384,389 $ 369,473 $ 575,196 $ 505,863 350,353 175,204 169,467 280,391 254,235 60,521 44,167 46,651 65,629 48,929 191,365 106,634 111,096 123,782 123,714 98,467 24,403 11,720 90,980 81,592 29.30% 30.80% 20.90% 19.90% 20.10% 19.30% 31.40% 31.90% 27.60% 28.90% 24.60% 21.50% 22.70% 32.00% 23.80% 30.60% 22.90% 23.90% 26.60% 26.60% 37.10% 11.70% 5.60% 43.60% 39.10% Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE30 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents (In thousands) Net cash provided by (used in): Operating activities Investing activities Financing activities Effect of exchange rate changes on cash and cash equivalents Net increase (decrease) in cash and cash equivalents 2013 $ 120,070 (238,102) 126,795 (3,115) $ 5,648 Year Ended December 31, 2012 $ 2011 199,761 $ (46,931) 12,297 1,330 $ 166,457 15,218 (89,436) 45,807 (75) $ (28,486) Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE31 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents an increase in inventory investments of $161.6 million. Inventory grew in 2013 at a rate higher than revenue growth primarily due to supplier delivery challenges experienced in the prior year period, early deliveries of product in the current period to manage supplier capacity and improve fill rates, along with incremental inventory investments to support our growing international and direct to consumer businesses. Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE32 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents a larger increase in accrued expenses and other liabilities of $34.5 million in 2013 as compared to 2012, primarily due to higher accruals for our performance incentive plan as compared to the prior period. Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE33 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents a decrease in inventory investments of $119.3 million primarily driven by success around our inventory management initiatives, along with delays in product receipts due to certain supplier challenges; and a larger decrease in prepaid expenses and other assets of $38.6 million in 2012 as compared to 2011, primarily due to income taxes paid during 2011 related to our tax planning strategies currently being recognized in income tax expense and timing of payments for our marketing investments. Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE34 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents Payments Due by Period (in thousands) Contractual obligations Long term debt obligations (1) Operating lease obligations (2) Product purchase obligations (3) Sponsorships and other (4) Total Less Than 1 Year Total $ $ 52,923 323,924 703,447 272,689 1,352,983 $ $ 1 4,972 44,292 703,447 80,875 833,586 Payments Due by Period to 3 Years $ $ More Than 5 Years 3 to 5 Years 5,951 81,424 94,572 181,947 $ $ 4,000 61,879 46,546 112,425 $ $ 38,000 136,329 50,696 225,025 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE35 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents (In thousands) Unrealized foreign currency exchange rate gains (losses) Realized foreign currency exchange rate gains (losses) Unrealized derivative gains (losses) Realized derivative gains (losses) 2013 $ (1,905) 477 13 243 Year Ended December 31, 2012 $ 2,464 (182) 675 (3,030) 2011 $ (4,027) 298 (31) 1,696 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. BALANCE_SHEET Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents Under Armour, Inc. and Subsidiaries Consolidated Balance Sheets (In thousands, except share data) Assets Current assets Cash and cash equivalents Accounts receivable, net Inventories Prepaid expenses and other current assets Deferred income taxes Total current assets Property and equipment, net Goodwill Intangible assets, net Deferred income taxes Other long term assets Total assets Liabilities and Stockholders' Equity Current liabilities Revolving credit facility Accounts payable Accrued expenses Current maturities of long term debt Other current liabilities Total current liabilities Long term debt, net of current maturities Other long term liabilities Total liabilities Commitments and contingencies (see Note 7) Stockholders' equity Class A Common Stock, $0.0003 1/3 par value; 200,000,000 shares authorized as of December 31, 2013 and 2012; 85,814,354 shares issued and outstanding as of December 31, 2013 and 83,461,106 shares issued and outstanding as of December 31, 2012. Class B Convertible Common Stock, $0.0003 1/3 par value; 20,000,000 shares authorized, issued and outstanding as of December 31, 2013 and 21,300,000 shares authorized, issued and outstanding as of December 31, 2012. Additional paid-in capital Retained earnings Accumulated other comprehensive income Total stockholders' equity Total liabilities and stockholders' equity December 31, December 31, 2013 $ $ $ 347,489 209,952 469,006 63,987 38,377 1,128,811 223,952 122,244 24,097 31,094 47,543 1,577,741 2012 $ $ 341,841 175,524 319,286 43,896 23,051 903,598 180,850 4,483 22,606 45,546 1,157,083 100,000 $ 165,456 133,729 4,972 22,473 426,630 47,951 49,806 524,387 143,689 85,077 9,132 14,330 252,228 52,757 35,176 340,161 28 28 7 397,283 653,842 2,194 7 321,338 493,181 2,368 $ 1,053,354 1,577,741 $ 816,922 1,157,083 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. INCOME_STATEMENT Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents Under Armour, Inc. and Subsidiaries Consolidated Statements of Income (In thousands, except per share amounts) Net revenues Cost of goods sold Gross profit Selling, general and administrative expenses Income from operations Interest expense, net Other expense, net Income before income taxes Provision for income taxes Net income Net income available per common share Basic Diluted Weighted average common shares outstanding Basic Diluted $ $ $ $ 2013 2,332,051 1,195,381 1,136,670 871,572 265,098 (2,933) (1,172) 260,993 98,663 162,330 1.54 1.50 105,348 107,979 Year Ended December 31, $ $ $ $ 2012 1,834,921 $ 955,624 879,297 670,602 208,695 (5,183) (73) 203,439 74,661 128,778 $ 1.23 1.21 104,343 106,380 $ $ 2011 1,472,684 759,848 712,836 550,069 162,767 (3,841) (2,064) 156,862 59,943 96,919 0.94 0.92 103,140 105,052 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE36 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents Under Armour, Inc. and Subsidiaries Consolidated Statements of Comprehensive Income (In thousands) Net income Other comprehensive income (loss): Foreign currency translation adjustment Unrealized gain (loss) on cash flow hedge, net of tax of $505 and $58 for the year ended December 31, 2013 and 2012, respectively Total other comprehensive income (loss) Comprehensive income $ 2013 162,330 (897) $ 723 (174) 162,156 Year Ended December 31, $ 2012 128,778 $ 423 $ (83) 340 129,118 $ 2011 96,919 (13) (13) 96,906 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. STOCKHOLDERS_EQUITY Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents Under Armour, Inc. and Subsidiaries Consolidated Statements of Stockholders' Equity (In thousands) Class A Common Stock Shares Balance as of December 31, 2010 Exercise of stock options Shares withheld in consideration of employee tax obligations relative to stock-based compensation arrangements Issuance of Class A Common Stock, net of forfeitures Class B Convertible Common Stock converted to Class A Common Stock Stock-based compensation expense Net excess tax benefits from stock-based compensation arrangements Comprehensive income Balance as of December 31, 2011 Exercise of stock options Shares withheld in consideration of employee tax obligations relative to stock-based compensation arrangements Issuance of Class A Common Stock, net of forfeitures Class B Convertible Common Stock converted to Class A Common Stock Stock-based compensation expense Net excess tax benefits from stock-based compensation arrangements Comprehensive income Class B Convertible Common Stock Shares Amount 77,320 1,126 $ 26 - 25,000 - (23) - - 69 - - 2,500 1 (2,500) - ### - - ### ### - 80,992 1,218 27 1 22,500 - (38) - - 89 - - 1,200 - (1,200) - ### - - ### ### - Balance as of December 31, 2012 Exercise of stock options Shares withheld in consideration of employee tax obligations relative to stock-based compensation arrangements Issuance of Class A Common Stock, net of forfeitures Class B Convertible Common Stock converted to Class A Common Stock Stock-based compensation expense Net excess tax benefits from stock-based compensation arrangements Comprehensive income (loss) Balance as of December 31, 2013 83,461 911 28 - 21,300 - (24) - - 166 - - 1,300 - (1,300) - ### - - ### - - ### - 85,814 $ 28 20,000 Additional Paid-In Capital Amount $8 $ - - Retained Earnings 224,870 12,853 - - 2,041 (1) Accumulated Other Comprehensive Income (Loss) - $ 270,021 - $ Total Stockholders' Equity 2,041 - $ 496,966 12,853 (776) - (776) - - 2,041 - - - - 18,063 - - 18,063 - 10,379 - 96,919 (13) 10,379 96,906 268,206 12,370 366,164 - 2,028 - 636,432 12,371 7 - - - 3,247 - - 19,845 - 17,670 - (1,761) - (1,761) - - 3,247 - - - - 19,845 340 17,670 129,118 128,778 - 7 321,338 12,159 - - - - 2,368 - (1,669) 3,439 - - 816,922 12,159 - (1,669) - - 3,439 - - - - 43,184 - - 43,184 - 17,163 - - 17,163 (174) 162,156 $7 493,181 - $ 397,283 162,330 $ 653,842 $ 2,194 $ 1,053,354 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. CASH_FLOW Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents Under Armour, Inc. and Subsidiaries Consolidated Statements of Cash Flows (In thousands) 2013 Cash flows from operating activities Net income Adjustments to reconcile net income to net cash provided by operating activities Depreciation and amortization Unrealized foreign currency exchange rate (gains) losses Loss on disposal of property and equipment Stock-based compensation Gain on bargain purchase of corporate headquarters (excludes transaction costs of $1.9 million) Deferred income taxes Changes in reserves and allowances Changes in operating assets and liabilities, net of effects of acquisitions: Accounts receivable Inventories Prepaid expenses and other assets Accounts payable Accrued expenses and other liabilities Income taxes payable and receivable Net cash provided by operating activities Cash flows from investing activities Purchases of property and equipment Purchases of businesses, net of cash acquired Purchases of other assets Purchase of long term investment Change in loans receivable Change in restricted cash Net cash used in investing activities Cash flows from financing activities Proceeds from revolving credit facility Payments on revolving credit facility Proceeds from term loan Payments on term loan Proceeds from long term debt Payments on long term debt Excess tax benefits from stock-based compensation arrangements $ 162,330 50,549 1,905 332 43,184 (18,832) 13,945 (35,960) (156,900) (19,049) 14,642 56,481 7,443 120,070 (87,830) (148,097) (475) (1,700) (238,102) 100,000 (5,471) 17,167 Proceeds from exercise of stock options and other stock issuances Payments of debt financing costs Net cash provided by financing activities Effect of exchange rate changes on cash and cash equivalents Net increase in cash and cash equivalents Cash and cash equivalents Beginning of period End of period Non-cash investing and financing activities Debt assumed and property and equipment acquired in connection with purchase of corporate headquarters Increase in accrual for property and equipment Other supplemental information Cash paid for income taxes Cash paid for interest 15,099 126,795 (3,115) 5,648 $ $ 341,841 347,489 3,786 85,570 1,505 Year Ended December 31, 2012 $ 128,778 2011 $ 96,919 43,082 36,301 (2,464) 524 19,845 4,027 36 18,063 (12,973) 13,916 (3,300) 3,620 5,536 (53,433) 4,699 (4,060) 35,370 21,966 4,511 199,761 (33,923) (114,646) (42,633) 17,209 23,442 4,567 15,218 (50,650) (1,310) 5,029 (46,931) (56,228) (23,164) (1,153) (3,862) ### (5,029) (89,436) (25,000) 50,000 (44,330) 30,000 (30,000) 25,000 5,644 (7,418) 17,868 10,260 $ $ 14,776 (1,017) 12,297 14,645 (2,324) 45,807 1,330 166,457 (75) (28,486) 175,384 341,841 12,137 57,739 3,306 $ $ 203,870 175,384 38,556 157 56,940 2,305 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE37 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents A B C Net revenues 2013 2012 2011 16.60% 16.60% 18.20% 5.30% 5.80% 7.40% 4.80% 5.20% 5.60% 2013 2012 2011 27.10% 26.40% 25.40% 9.10% 8.80% 8.60% 5.10% 7.00% 5.50% Accounts receivable Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE38 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents December 31, (In thousands) Leasehold and tenant improvements Furniture, fixtures and displays Buildings Software Office equipment Plant equipment Land Construction in progress Other Subtotal property and equipment Accumulated depreciation Property and equipment, net $ $ 2013 97,776 $ 68,045 45,903 51,984 39,551 45,509 17,628 28,471 1,219 396,086 (172,134) 223,952 $ 2012 75,058 59,849 42,533 40,836 35,752 30,214 17,628 23,005 1,246 326,121 (145,271) 180,850 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE39 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents (In thousands) Balance as of December 31, 2012 Goodwill acquired Balance as of December 31, 2013 North America $ 119,799 $ 119,799 Other foreign countries and businesses $ ### 2,445 2,445 Total $ $ 122,244 122,244 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE40 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents December 31, 2013 (In thousands) Intangible assets subject to amortization: Technology Trade name Customer relationships Lease-related intangible assets Other Total Indefinite-lived intangible assets Intangible assets, net Gross Carrying Amount $ $ Accumulated Amortization 12,000 5,000 3,600 3,896 3,648 28,144 $ $ Net Carrying Amount (126) $ (53) (38) 11,874 4,947 3,562 (2,605) (2,914) (5,736) $ 1,291 734 22,408 $ 1,689 24,097 December 31, 2012 Gross Carrying Amount $ $ Accumulated Amortization 3,896 3,087 6,983 $ $ Net Carrying Amount - ### ### ### (1,974) (2,215) (4,189) $ 1,922 872 2,794 $ 1,689 4,483 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE41 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents 2014 2015 2016 2017 2018 2019 and thereafter $ Total scheduled maturities of long term debt Less current maturities of long term debt Long term debt obligations $ 4,972 3,951 2,000 2,000 2,000 38,000 52,923 (4,972) 47,951 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE42 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents (In thousands) 2014 2015 2016 2017 2018 2019 and thereafter $ Total future minimum lease payments $ 44,292 44,116 37,308 32,532 29,347 136,329 323,924 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE43 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents 2014 2015 2016 2017 2018 2019 and thereafter $ 80,875 59,132 35,440 25,195 21,351 50,696 Total future minimum sponsorship and other marketing payments $ 272,689 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE44 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents (In thousands) Derivative foreign currency forward contracts (see Note 14) Interest rate swap contract (see Note 14) TOLI policies held by the Rabbi Trust (see Note 13) Deferred Compensation Plan obligations (see Note 13) December 31, 2013 Level 2 Level 1 $ - $ Level 3 12 $ - - 1,087 - - 4,625 - - (3,338) - December 31, 2012 Level 2 Level 1 $ - Level 3 $5 $ - - (141) - - 4,250 - - (2,837) - Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE45 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents Year Ended December 31, (In thousands) Income before income taxes: United States Foreign Total 2013 $ $ 196,558 64,435 260,993 2012 $ $ 155,514 47,925 203,439 2011 $ $ 122,774 34,088 156,862 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE46 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents Year Ended December 31, (In thousands) Current Federal State Other foreign countries 2013 $ 66,533 12,962 8,139 87,634 (14,722) (5,541) 959 (19,304) Provision for income taxes $ 98,663 $ (9,606) (3,563) 196 (12,973) 74,661 Deferred Federal State Other foreign countries $ 85,542 19,130 13,295 117,967 2012 2011 $ $ 38,209 10,823 7,291 56,323 5,604 548 (2,532) 3,620 59,943 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE47 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents U.S. federal statutory income tax rate State taxes, net of federal tax impact Unrecognized tax benefits Nondeductible expenses Foreign rate differential Other Effective income tax rate Year Ended December 31, 2013 2012 35.00% 35.00% 2.40 2.10 2.50 2.70 1.10 0.60 (3.30) (4.10) 0.10 0.40 37.80% 36.70% 2011 35.00% 4.10 3.10 0.80 (4.80) 38.20% Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE48 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents December 31, (In thousands) Deferred tax asset Stock-based compensation Allowance for doubtful accounts and other reserves Foreign net operating loss carryforward U. S. net operating loss carryforward Deferred rent Inventory obsolescence reserves Tax basis inventory adjustment State tax credits, net of federal tax impact Foreign tax credits Accrued expenses Deferred compensation Other Total deferred tax assets Less: valuation allowance Total net deferred tax assets Deferred tax liability Property, plant and equipment Intangible assets Prepaid expenses Other Total deferred tax liabilities Total deferred tax assets, net 2013 $ $ 25,472 16,262 13,829 10,119 8,980 6,269 5,633 5,342 3,807 3,403 1,372 5,889 106,377 (8,091) 98,286 (13,375) (8,627) (6,380) (447) (28,829) 69,457 2012 $ $ 13,157 14,000 12,416 6,007 4,138 3,581 2,856 2,210 1,266 1,170 3,652 64,453 (3,966) 60,487 (10,116) (610) (4,153) (14,879) 45,608 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE49 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents (In thousands) Beginning of year Increases as a result of tax positions taken in a prior period Decreases as a result of tax positions taken in a prior period Increases as a result of tax positions taken during the current period Decreases as a result of tax positions taken during the current period Decreases as a result of settlements during the current period Reductions as a result of a lapse of statute of limitations during the current period End of year $ 2013 15,297 7,526 - $ (1,111) 21,712 Year Ended December 31, $ 2012 9,783 $ - ### - ### 5,702 $ 2011 5,165 4,959 - ### - ### (188) 15,297 $ (341) 9,783 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE50 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents (In thousands, except per share amounts) Numerator Net income Net income attributable to participating securities Net income available to common shareholders (1) Denominator Weighted average common shares outstanding Effect of dilutive securities Weighted average common shares and dilutive securities outstanding Earnings per share-basic Earnings per share-diluted (1) Basic weighted average common shares outstanding Basic weighted average common shares outstanding and participating securities Percentage allocated to common stockholders 2013 $ 162,330 (162) $ 162,168 105,267 2,631 $ $ 107,898 1.54 1.50 105,267 105,348 99.90% Year Ended December 31, 2012 $ 128,778 2011 $ (386) $ 128,392 (582) $ 104,055 2,037 $ $ 106,092 1.23 1.21 96,919 96,337 102,454 1,912 $ $ 104,366 0.94 0.92 104,055 102,454 104,343 99.70% 103,140 99.40% Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE51 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents Risk-free interest rate Average expected life in years Expected volatility Expected dividend yield 2013 1.20% 6.25 55.40% 0% Year Ended December 31, 2012 2011 - 1.2% - 54.4% 0% 2.60% 6.25 56.10% 0% Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE52 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents (In thousands, except per share amounts) 2013 Weighted Average Exercise Price Number of Stock Options Outstanding, beginning of year Granted, at fair market value Exercised Expired Forfeited Outstanding, end of year Options exercisable, end of year 3,149 $ 15.31 10 (911) (112) 2,136 $ 1,173 $ Year Ended December 31, 2012 Weighted Number Average of Stock Exercise Options Price 4,808 $ 13.99 48.70 13.35 ### 16.82 16.22 (1,218) (441) 3,149 $ ### 10.17 ### 15.19 15.31 15.59 968 13.10 $ 2011 Weighted Average Exercise Price Number of Stock Options 5,948 $ 12.66 220 (1,126) (26) (208) 4,808 $ 36.05 11.42 9.47 13.41 13.99 846 12.71 $ Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE53 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents Number of Underlying Shares 2,136 Options Outstanding Weighted Weighted Average Average Exercise Remaining Price Per Contractual Share Life (Years) $16.22 5.9 Total Intrinsic Value $151,835 Number of Underlying Shares 1,173 Options Exercisable Weighted Weighted Average Average Exercise Remaining Price Per Contractual Share Life (Years) $15.59 5.6 Total Intrinsic Value $84,140 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE54 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents Year Ended December 31, (In thousands, except per share amounts) 2013 Number of Restricted Shares Outstanding, beginning of year Granted Forfeited Vested Outstanding, end of year 2012 Weighted Average Fair Value 2,257 $ 841 (205) (271) 2,622 $ 39.02 52.70 34.74 33.51 44.38 Number of Restricted Shares Weighted Average Fair Value 1,646 $ 1,329 (379) (339) 2,257 $ 29.11 45.84 33.45 23.31 39.02 2011 Number of Restricted Shares Weighted Average Fair Value 824 $ 1,576 (454) (300) 1,646 $ 18.02 33.10 29.76 18.59 29.11 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE55 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents (In thousands) Unrealized foreign currency exchange rate gains (losses) Realized foreign currency exchange rate gains (losses) Unrealized derivative gains (losses) Realized derivative gains (losses) 2013 $ (1,905) 477 13 243 Year Ended December 31, 2012 $ 2,464 (182) 675 (3,030) 2011 $ (4,027) 298 (31) 1,696 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE56 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents (In thousands) Net revenues North America Other foreign countries and businesses Total net revenues (In thousands) Operating income (loss) North America Other foreign countries and businesses Total operating income Interest expense, net Other expense, net Income before income taxes 2013 $ $ 2,193,739 138,312 2,332,051 2013 $ $ 271,338 (6,240) 265,098 (2,933) (1,172) 260,993 Year Ended December 31, 2012 $ $ 1,726,733 108,188 1,834,921 2011 $ $ 1,383,346 89,338 1,472,684 Year Ended December 31, 2012 $ $ 200,084 $ 8,611 208,695 (5,183) (73) 203,439 $ 2011 150,559 12,208 162,767 (3,841) (2,064) 156,862 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE57 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents (In thousands) Apparel Footwear Accessories Total net sales Licensing and other revenues Total net revenues $ $ Year Ended December 31, 2013 2012 1,762,150 $ 1,385,350 298,825 238,955 216,098 165,835 2,277,073 1,790,140 54,978 44,781 2,332,051 $ 1,834,921 $ $ 2011 1,122,031 181,684 132,400 1,436,115 36,569 1,472,684 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE58 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents (In thousands) 2013 Net revenues Gross profit Income from operations Net income Earnings per share-basic Earnings per share-diluted 2012 Net revenues Gross profit Income from operations Net income Earnings per share-basic Earnings per share-diluted Quarter Ended (unaudited) June 30, September 30, March 31, $ $ $ $ $ $ 471,608 216,551 13,492 7,814 0.07 0.07 $ 384,389 175,204 24,403 14,661 0.14 0.14 $ $ $ $ $ 454,541 219,631 32,310 17,566 0.17 0.16 $ 369,473 169,467 11,720 6,668 0.06 0.06 $ $ $ $ $ 723,146 350,135 120,829 72,784 0.69 0.68 575,196 280,391 90,980 57,317 0.55 0.54 December 31, $ $ $ $ $ $ Year Ended December 31, 682,756 350,353 98,467 64,166 0.61 0.59 $ 505,863 254,235 81,592 50,132 0.48 0.47 $ $ $ $ $ 2,332,051 1,136,670 265,098 162,330 1.54 1.50 1,834,921 879,297 208,695 128,778 1.23 1.21 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE59 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents 1. Financial Statements: Report of Independent Registered Public Accounting Firm 40 Consolidated Balance Sheets as of December 31, 2013 and 2012 41 Consolidated Statements of Income for the Years Ended December 31, 2013, 2012 and 2011 42 Consolidated Statements of Comprehensive Income for the Years Ended December 31, 2013, 2012 and 2011 43 Consolidated Statements of Stockholders' Equity for the Years Ended December 31, 2013, 2012 and 2011 44 Consolidated Statements of Cash Flows for the Years Ended December 31, 2013, 2012 and 2011 45 Notes to the Audited Consolidated Financial Statements 46 2. Financial Statement Schedule Schedule II-Valuation and Qualifying Accounts 72 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE60 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents Exhibit No. 2.01 3.01 3.02 4.01 10.01 10.02 10.03 10.04 10.05 10.06 10.07 10.08 10.09 10.10 10.11 ated by EDGAR Online, Inc. ER ARMOUR, INC. LE60 m Type: 10-K od End: Dec 31, 2013 Filed: Feb 21, 2014 e Of Contents Agreement and Plan of Merger, dated as of November 8, 2013, among Under Armour, Inc., MMF Merger Sub, Inc., MapMyFitness, Inc. and Fortis Advisors LLC (incorporated by reference to Exhibit 2.1 of the Company's Current Report on Form 8-K filed November 14, 2013). Articles of Amendment and Restatement (incorporated by reference to Exhibit 3.01 of the Company's Form 10-Q for the quarterly period ended June 30, 2012). Second Amended and Restated By-Laws (incorporated by reference to Exhibit 3.02 of the Company's Form 8-K filed February 21, 2013). Warrant Agreement between the Company and NFL Properties LLC dated as of August 3, 2006 (incorporated by reference to Exhibit 4.1 of the Current Report on Form 8-K filed August 7, 2006). Credit Agreement among PNC Bank, National Association, as Administrative Agent, SunTrust Bank, as Syndication Agent, Bank of America, N.A., as Documentation Agent, and the Lenders and the Guarantors that are party thereto and the Company dated March 29, 2011 (incorporated by reference to Exhibit 10.04 of the Company's Form 10-Q for the quarterly period ended June 30, 2011), as amended by First Amendment to Credit Agreement dated September 16, 2011 (incorporated by reference to Exhibit 10.01 of the Company's Form 10-Q for the quarterly period ended September 30, 2011). Office lease by and between Beason Properties LLLP (as successor to 1450 Beason Street LLC) and the Company dated December 14, 2007 (portions of this exhibit have been omitted pursuant to a request for confidential treatment) (incorporated by reference to Exhibit 10.1 of the Current Report on Form 8-K filed on December 20, 2007), as amended by the First Amendment dated June 4, 2008 (incorporated by reference to Exhibit 10.04 of the Company's Form 10-Q for the quarterly period ended June 30, 2008) and the Second Amendment to Office Lease dated October 1, 2009 (portions of this exhibit have been omitted pursuant to a request for confidential treatment) (incorporated by reference to Exhibit 10.01 of the Company's Form 10-Q for the quarterly period ended September 30, 2009). Under Armour, Inc. Executive Incentive Plan (incorporated by reference to Exhibit 10.01 of the Company's Current Report on Form 8-K filed on May 6, 2013).* Under Armour, Inc. Deferred Compensation Plan (incorporated by reference to Exhibit 10.15 of the Company's 2007 Form 10-K) and Amendment One to this plan (incorporated by reference to Exhibit 10.14 of the Company's 2010 Form 10-K).* Form of Change in Control Severance Agreement.* Under Armour, Inc. Amended and Restated 2005 Omnibus Long-Term Incentive Plan and Amendment One to the Plan (incorporated by reference to Exhibit 10.01 of the Company's Form 10-Q for the quarterly period ending June 30, 2012).* Restricted Stock Grant Agreement under the Amended and Restated 2005 Omnibus Long-Term Incentive Plan between Henry Stafford and the Company (incorporated by reference to Exhibit 10.07a of the Company's 2011 Form 10-K).* Forms of Non-Qualified Stock Option Grant Agreement under the Amended and Restated 2005 Omnibus Long-Term Incentive Plan (incorporated by reference to Exhibit 10.23 of the Company's 2007 Form 10-K and Exhibit 10.08 of the Company's 2011 Form 10-K).* Form of Restricted Stock Unit Grant Agreement under the Amended and Restated 2005 Omnibus Long-Term Incentive Plan (incorporated by reference to Exhibit 10.09 of the Company's 2011 Form 10-K).* Forms of Performance-Based Stock Option Grant Agreement under the Amended and Restated 2005 Omnibus Long-Term Incentive Plan (incorporated by reference to Exhibits 10.02 of the Company's Form 10-Q for the quarterly period ended March 31, 2009 and Exhibit 10.03 of the Company's Form 10-Q for the quarterly period ended March 31, 2010).* Amendment to Stock Option Awards Effective August 3, 2011 (incorporated by reference to Exhibit 10.11 of the Company's 2011 Form 10-K).* Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE61 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents Exhibit No. 10.12 10.13 10.14 10.15 10.16 10.17 10.18 21.01 23.01 31.01 31.02 32.01 32.02 Exhibit No. 101.INS 101.SCH 101.CAL 101.DEF 101.LAB 101.PRE ated by EDGAR Online, Inc. ER ARMOUR, INC. LE61 m Type: 10-K od End: Dec 31, 2013 Filed: Feb 21, 2014 e Of Contents Forms of Performance-Based Restricted Stock Unit Grant Agreement for U.S. Employees under the Amended and Restated 2005 Omnibus Long-Term Incentive Plan (filed herewith and incorporated by reference to Exhibit 10.12 of the Company's 2012 Form 10-K, Exhibit 10.05 of the Company's Form 10-Q for the quarterly period ended June 30, 2011 and Exhibit 10.12 of the Company's 2011 Form 10-K).* Form of Performance-Based Restricted Stock Unit Grant Agreement for International Employees under the Amended and Restated 2005 Omnibus Long-Term Incentive Plan.* Form of Employee Confidentiality, Non-Competition and Non-Solicitation Agreement by and between certain executives and the Company.* Employment Agreement by and between Karl-Heinz Maurath and the Company (portions of this exhibit have been omitted pursuant to a request for confidential treatment) (incorporated by reference to Exhibit 10.15 of the Company's 2012 Form 10-K).* Under Armour, Inc. 2013 Non-Employee Director Compensation Plan (incorporated by reference to Exhibit 10.01 of the Company's Form 10-Q for the quarterly period ended March 31, 2013), Form of Initial Restricted Stock Unit Grant (incorporated by reference to Exhibit 10.1 of the Current Report on Form 8-K filed June 6, 2006), Form of Annual Stock Option Award (incorporated by reference to Exhibit 10.3 of the Current Report on Form 8-K filed June 6, 2006) and Form of Annual Restricted Stock Unit Grant (incorporated by reference to Exhibit 10.6 of the Company's Form 10-Q for the quarterly period ended June 30, 2011).* Under Armour, Inc. 2006 Non-Employee Director Deferred Stock Unit Plan (incorporated by reference to Exhibit 10.02 of the Company's Form 10-Q for the quarterly period ended March 31, 2010) and Amendment One to this plan (incorporated by reference to Exhibit 10.23 of the Company's 2010 Form 10-K).* Change in Control Severance Agreement between Karl-Heinz Maurath and the Company.* List of Subsidiaries. Consent of PricewaterhouseCoopers LLP. Section 302 Chief Executive Officer Certification. Section 302 Chief Financial Officer Certification. Section 906 Chief Executive Officer Certification. Section 906 Chief Financial Officer Certification. XBRL Instance Document XBRL Taxonomy Extension Schema Document XBRL Taxonomy Extension Calculation Linkbase Document XBRL Taxonomy Extension Definition Linkbase Document XBRL Taxonomy Extension Label Linkbase Document XBRL Taxonomy Extension Presentation Linkbase Document Created by EDGAR Online, Inc. UNDER ARMOUR, INC. VALUATION_AND_QUALIFYING_ACCOUNTS Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents Schedule II Valuation and Qualifying Accounts (In thousands) Description Allowance for doubtful accounts For the year ended December 31, 2013 For the year ended December 31, 2012 For the year ended December 31, 2011 Sales returns and allowances For the year ended December 31, 2013 For the year ended December 31, 2012 For the year ended December 31, 2011 Deferred tax asset valuation allowance For the year ended December 31, 2013 For the year ended December 31, 2012 For the year ended December 31, 2011 Balance at Beginning of Year Charged to Costs and Expenses $ 3,286 4,070 4,869 $ 210 (108) 699 $ 32,919 20,600 16,827 $ 135,739 107,536 74,245 $ 3,996 1,784 1,765 $ 4,095 2,855 1,784 Write-Offs Net of Recoveries Balance at End of Year $ (558) $ (676) (1,498) 2,938 3,286 4,070 $ (134,556) $ (95,217) (70,472) 34,102 32,919 20,600 $ $ (643) (1,765) 8,091 3,996 1,784 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE62 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents If to the Company, to: Under Armour, Inc. Attn: Vice President, Human Resources 1020 Hull Street Baltimore, Maryland With a copy to: Under Armour, Inc. Attn: Legal Department 1020 Hull Street Baltimore, Maryland If to the Executive, to: 21230 With a copy to: 21230 Created by EDGAR Online, Inc. UNDER ARMOUR, INC. TABLE63 Form Type: 10-K Period End: Dec 31, 2013 Date Filed: Feb 21, 2014 Table Of Contents If to the Company, to: Under Armour, Inc. Attn: Vice President, Human Resources 1020 Hull Street Baltimore, Maryland With a copy to: Under Armour, Inc. Attn: Legal Department 1020 Hull Street Baltimore, Maryland If to the Executive, to: 21230 With a copy to: 21230 \fGo to the Course Resources page within the CourseSpecific Resources section. The Course Resources page is under Course Home. Complete your Title page on this tab. Please include your name, the course, the date, your instructor's name, and the title for the project. Complete one paragraph, profiling each company's business, including information such as a brief history, where they are located, number of employees, the products they sell, and so forth. Please reference any websites that you used for the Profiles on the Bibliography tab. Tootsie Roll Industries began in a small candy store in New York in 1896. Tootsie Roll is now headquartered in Chicago and primarily sells their products in the United States, Canada, and Mexico. According to Yahoo Finance, Tootsie Roll has 2,000 full-time employees. Tootsie Roll sells the following branded candy: Tootsie Roll, Tootsie Roll Pop, Charms Blow Pop, Mason Dots, Andes, Sugar Daddy, Charleston Chew, Double Bubble, Razzles, Caramel Apple Pop, and Junior Mints. Tootsie Roll had 2014 net product sales of $539.9 million. Hershey Company was founded by Milton S. Hershey in 1893 and is headquartered in Hershey, Pennsylvania. According to Yahoo Finance, Hershey has 20,800 full-time employees. Hershey is famous for Good & Plenty, Hershey Bar, Hershey's Kisses, Hershey's Bliss, Reese's, Rolo, Twizzlers, Almond Joy, Kit Kat, and Ice Breakers. Hershey had net product sales of $7.4 billion for 2014. Use this Excel spreadsheet to compute ratios; show your computations for all ratios on this tab, and also include your commentary. The 2014 financial statements used to calculate these ratios are available in the Investor Relations section of the Tootsie Roll and Hershey websites. Tootsie Roll Interpretation and comparison between the two companies' ratios (reading Chapter 13 will help you prepare the commentary). Hershey The comparison of the ratios is an important part of the project. A good approach is to briefly explain what the ratio tells us. Indicate whether a higher or lower ratio is better. Then compare the two companies on this basis. Remembereach ratio below requires a comparison. Earnings per Share of Common Stock (basic - common) Current Ratio As given in the income statement $ 1.05 $ 3.91 Current assets Current liabilities $264,621 $64,459 = 4.11 $2,247,047 $1,935,647 = 1.16 Gross margin Net sales $198,962 $539,895 = 36.9% $3,336,166 $7,421,768 = 45.0% Net income Net sales $63,298 $539,895 = 11.7% $846,912 $7,421,768 = 11.4% Inventory Turnover Cost of goods sold Average inventory $340,933 $66,118 5.2 times $4,085,602 $730,289 Days' inventory outstanding (DIO) 365 Inventory turnover 365 5.2 = 71 days 365 5.6 = 65 days Accounts Receivable Turnover Net sales (assume all sales are credit sales) Average net accounts receivable $539,895 $41,987 = 12.9 $7,421,768 $537,426 = 13.8 Days' Sales Outstanding (DSO) 365 Accounts receivable turnover 365 12.9 28.4 days 365 13.8 = 26.4 days Net sales Average total assets $539,895 $899,398 = 0.60 $7,421,768 $5,493,502 = 1.35 = 7.0% = 15.4% Gross (Profit) Margin Percentage Rate of Return (Net Profit Margin) on Sales Asset turnover Rate of Return on Total Assets (ROA) Debt Ratio Times-Interest-Earned Ratio Dividend Yield (Please follow the Course Project instructions to calculate the current dividend yield.) Rate of Return on Common Stockholders' Equity (ROE) Free cash flow Price-Earnings Ratio (Multiple) (Please see the Course Project instructions for the dates to use for this ratio.) Rate of return on sales times asset turnover = 5.6 times Total Liabilities Total Assets $219,250 $910,386 = 24.1% $4,109,986 $5,629,516 = 73.0% Income from operations Interest expense $83,923 $99 = 847.7 1,389,575 83,532 = 16.6 Dividend per share of common stock (Yahoo Finance 12/24/2015) Market price per share of common stock (Yahoo Finance 12/24/2015) $0.36 $32.04 = 1.1% $2.33 $90.32 = 2.6% Net income - Preferred dividends Average common stockholders' equity $63,298 $685,721 9.2% $846,912 $1,567,791 = 54.0% = Net cash provided by operating activities minus cash payments earmarked for investments in plant assets Market price per share of common stock as of 12/31/2014 Earnings per share = $30.65 $1.05 = $ $78,065 29 492,274 = $103.93 $3.91 = 27 You all get the chance to play the role of financial analyst below. The summary should be a comparison of each company's performance for each major category of ratios listed below. Focus on major differences as you compare each company's performance. A nice way to conclude is to state which company you feel is the better investment and why. Measuring Ability to Pay Current Liabilities: Tootsie Roll has the advantage for the current ratio. Tootsie Roll has $4.11 in current assets for every dollar in current liabilities, while Hershey has only $1.16 in current assets for every dollar in current liabilities. Measuring Turnover: Hershey has the advantage for the inventory turnover and accounts receivable turnover ratios. Hershey turns over its inventory 5.6 times to Tootsie Roll's 5.2 times, and Hershey turns over its accounts receivable 13.8 times to Tootsie Roll's 12.9 times. Measuring Leverage - Overall Ability to Pay Debts: Tootsie Roll has significantly less debt than Hershey as evidenced by Tootsie Roll's 24.1% debt-to-asset ratio as compared to Hershey's 73% debt-to-asset ratio. Tootsie Roll can cover its interest expense 847.7 times with income before interest and taxes, while Hershey can only cover its interest expense 16.6 times with their income before interest and taxes. Tootsie Roll has the advantage for each of these ratios. Measuring Profitability: Hershey has the advantage for 4 of the 5 profitability ratios. Hershey has a significant edge in return on common stockholders' equity, with a 54% return on common stockholders' equity, as compared to Tootsie Roll's 9.2% return on common stockholders' equity. Hershey has a higher gross profit rate (45.0%- 36.9%), while Tootise Roll has a higher net profit margin ratio (11.7%-11.4%). Hershey also has a significant advantage for asset turnover (1.35-.60) and rate of return on total assets (15.4%-7.0%). Analyzing Stock as an Investment: Hershey returns a 2.6% dividend yield to its investors, while Tootsie Roll's yield is 1.1%. Hershey has positive free cash flow of $492.2 million, while Tootsie Roll has positive free cash flow of $78.1 million. Free cash flow can be used to undertake acquisitions, pay additional dividends, pay down debt, or buy back stock. Conclusion: Tootsie Roll is the safer investment when you examine their ability to pay current liabilities and overall liabilities; however, Hershey has the advantage for the turnover and profitability ratios. For the conservative investor, Tootsie Roll looks like the way to go because of their strong current and times-interestearned ratios. For the growth-oriented investor, Hershey is the way to go because of their stronger profitability ratios and large amount of free cash flow. Your textbook and any information that you use to profile the companies should be cited as a reference below. Big Charts for Hershey (12/31/2014). Retrieved December 24, 2015 from http://bigcharts.marketwatch.com/historical/default.as symb=hsy&closeDate=12%2F31%2F14&x=0&y=0 Big Charts for Tootsie Roll (12/31/2014). Retrieved December 24, 2015 from http://bigcharts.marketwatch.com/historical/default symb=tr&closeDate=12%2F31%2F14&x=0&y=0 Harrison, W.T., Horngren C.T. & Thomas, C.W. (2015). Financial Accounting, 10th ed. Upper Saddle River, NJ: Pearson Educat Hershey's 2014 Annual Report (2015). Retrieved December 24, 2015 from http://www.thehersheycompany.com/pdfs/PDF_Prox %20Statement_2014.pdf HSY Profile (2015). Retrieved December 24, 2015 from http://finance.yahoo.com/q/pr?s=HSY+Profile HSY Stock Price (2015). Retrieved December 24, 2015 from http://finance.yahoo.com/q?s=hsy&ql=1 Tootsie Roll Industries 2014 Annual Report (2015). Retrieved December 24, 2015 from http://tootsie.com/financials/ TR Profile (2015). Retrieved December 24, 2015 from http://finance.yahoo.com/q/pr?s=TR+Profile TR Stock Price (2015). Retrieved December 24, 2015 from http://finance.yahoo.com/q?s=TR&ql=1 Go to the Course Resources page within the CourseSpecific Resources section. The Course Resources page is under Course Home. Comparison of Financial Performance of Nike Corporation and Under Armour Name Course Date Accounting Complete one paragraph, profiling each company's business, including information such as a brief history, where they are located, number of employees, the products they sell, and so forth. Please reference any websites that you used for the Profiles on the Bibliography tab. Nike Corporation operates in the apparel industry whereby it designs, develops, markets and sales athletic footwear, apparel, and equipment among other accessories. Incorporated in 1969, the company has managed to enhance its competitiveness in the industry in order to secure a dominant position. independent contractors are responsible for manufacturing teh company's products that are later sold to retail accounts via Nike outlet stores. Under Armour is a sports clothing corporation based in the U.S. the company has been operation since 1996 when it began offering footwear. Although the coumpany has its other locations in Texas, Denver, Colorado, and New York Cities, its global headquarters are in Baltimore, Maryland. SInce inception, the company enjoyed significant growth to reach a dominant level with other competitors such as Nike and Adidas. Its major products are mainly apparel with common brands including ColdGear, TurfGear, AllseasonGear, and StreetGear product lines. Use this Excel spreadsheet to compute ratios; show your computations for all ratios on this tab, and also include your commentary. The 2014 financial statements used to calculate these ratios are available in the Investor Relations section of the Nike Inc. and Under Armour Inc. Nike Inc. Interpretation and comparison between the two companies' ratios (reading Chapter 13 will help you prepare the commentary). Under Armour Inc. The comparison of the ratios is an important part of the project. A good approach is to briefly explain what the ratio tells us. Indicate whether a higher or lower ratio is better. Then compare the two companies on this basis. Remembereach ratio below requires a comparison. Earnings per Share of Common Stock (basic - common) Current Ratio As given in the income statement $ 3.05 Earnings per share explains the relationship how much earning the shareholders have earned in comparison to its shares. Nike Inc. EPS is higher which indicates that the Shareholders of Under Armour Inc. earned higher as compare to Nike 0.98 Inc.. $ Current ratio explains the relationship between the current assets and current liabiliites and current ratio of Under Armour is higher than Nike Inc. which indicates that they can pay their current liabilities