Under Armour, Inc Consolidated Balance Sheets - USD ($) $ in Thousands Current assets Cash and cash equivalents Accounts receivable, net Dec. 31, 2019 $ 788,072 708,714 892,258 Dec. 31, 2018 $ 557,403 652,546 1,019,496 Inventories Prepaid expenses and other current assets Total current assets Property and equipment, net Operating lease right-of-use assets Goodwill Intangible assets, net Deferred income taxes Other long term assets Total assets Current liabilities Accounts payable Accrued expenses 313,165 364,183 2,702,209 2,593,628 792,148 826,868 591,931 550,178 546,494 36,345 41,793 82,379 112,420 88,341 123,819 4,843,531 4,245,022 618,194 560,884 374,694 340,415 Customer refund liabilities 219,424 301,421 Operating lease liabilities 125,900 Current maturities of long term debt 0 25,000 Other current liabilities 83,797 88,257 Total current liabilities 1,422,009 1,315,977 Long term debt, net of current maturities 592,687 703,834 Operating lease liabilities, non-current Other long term liabilities 580,635 98,113 208,340 Total liabilities 2,693,444 2,228,151 Commitments and contingencies (see Note 8) Stockholders' equity Additional paid-in capital 973,717 916,628 Retained earnings 1,226,986 1,139,082 Accumulated other comprehensive loss (50,765) (38,987) Total stockholders' equity 2,150,087 2,016,871 Total liabilities and stockholders' equity 4,843,531 4,245,022 Class A Common Stock Stockholders' equity Common stock issued Class B Convertible Common Stock Stockholders' equity Common stock issued Class C Common Stock Stockholders' equity Common stock issued 62 59 62 11 11 $ 76 $ 75 12 Months Ended Consolidated Statements of Income - USD ($) shares in Dec. 31, Thousands, $ in Thousands Dec. 31, 2019 Dec. 31, 2018 2017 Income Statement [Abstract] Net revenues $ 5,193,185 Cost of goods sold Gross profit Selling, general and administrative expenses Restructuring and impairment charges Income (loss) from operations Interest expense, net Other expense, net Income (loss) before income taxes Income tax expense (benefit) Income (loss) from equity method investment Net income (loss) $ 5,267,132 2,796,599 2,470,533 2,852,714 2,737,830 2,340,471 2,251,414 2,233,763 2,182,339 2,099,522 0 183,149 124,049 236,770 (25,017) 27,843 (21,240) (33,568) (34,538) (5,688) (9,203) (3,614) 209,842 (67,788) (10,309) 70,024 (20,552) 37,951 (47,679) 934 0 $92,139 $ 0.20 $ (46,302) $ (48,260) $(0.10) $ (0.11) $ (0.10) $ (0.11) Basic net income (loss) per share (in dollars per share) Diluted net income (loss) per share (in dollars per share) $ 0.20 Weighted average common shares outstanding Class A, B and C common stock Class A, B and C Basic (in shares) Class A, B and C Diluted (in shares) 450,964 445,815 440,729 454,274 445,815 440,729 12 Months Ended Consolidated Statements of Cash Flows - USD ($) $ in Thousands Dec. 31, Dec. 31, 2019 Dec. 31, 2018 2017 Cash flows from operating activities Net income (loss) Adjustments to reconcile net income (loss) to net cash provided by operating activities Depreciation and amortization Unrealized foreign currency exchange rate gain (loss) $ 92,139 $ (46,302) $ (48,260) 186,425 181,768 173,747 (2,073) 14,023 (29,247) Impairment charges 39,000 9,893 71,378 Amortization of bond premium 254 254 254 Loss on disposal of property and equipment 4,640 4,256 Stock-based compensation 49,618 41,783 2,313 39,932 Excess tax benefit (loss) from stock-based compensation 0 0 (75) Deferred income taxes 38,132 (38,544) 55,910 Changes in reserves and allowances (26,096) (234,998) 108,757 Changes in operating assets and liabilities: Accounts receivable (45,450) 186,834 (79,106) Inventories Prepaid expenses and other assets Other non-current assets Accounts payable Accrued expenses and other liabilities 149,519 109,919 (222,391) 24,334 (107,855) (52,106) 19,966 0 0 59,458 26,413 145,695 (18,987) 134,594 109,823 Customer refund liability (80,710) 305,141 0 Income taxes payable and receivable 18,862 41,051 (39,164) Net cash provided by operating activities 509,031 628,230 237,460 Cash flows from investing activities Purchases of property and equipment (145,802) (170,385) (281,339) Sale of property and equipment Purchase of equity method investment Purchases of other assets Net cash (used in) provided by investing activities Cash flows from financing activities Proceeds from long term debt and revolving credit facility 0 11,285 0 0 (39,207) 0 (1,311) (4,597) (1,648) (147,113) (202,904) (282,987) 25,000 505,000 763,000 Payments on long term debt and revolving credit facility (162,817) (695,000) (665,000) Employee taxes paid for shares withheld for income taxes (4,235) (2,743) (2,781) Proceeds from exercise of stock options and other stock issuances 7,472 2,580 11,540 Other financing fees 63 306 0 Payments of debt financing costs (2,553) (11) 0 Net cash used in financing activities (137,070) (189,868) 106,759 Effect of exchange rate changes on cash, cash equivalents and 5,100 12,467 4,178 restricted cash Net increase in cash, cash equivalents and restricted cash 229,948 247,925 65,410 Cash, cash equivalents and restricted cash Beginning of period 566,060 318,135 252,725 End of period 796,008 566,060 318,135 Non-cash investing and financing activities Change in accrual for property and equipment (8,084) (14,611) 10,580 Other supplemental information Cash paid (received) for income taxes, net of refunds 23,352 (16,738) 36,921 Cash paid for interest, net of capitalized interest $ 18,031 $28,586 $29,750 Free Cash Flow, Under Armour 2019 Operating Profit Less Tax Plus Depreciation Plus Amortization Curr Asset 2019 less: Curr Liab 2019 Equals WC 2019 Curr Asst 2018 less: Curr Liab 2018 Equals WC 2018 Less Change in WC: Current Year minus Previous Year Capital Expenditure Other Less Net CAPX Free Cash Flow 2019