UNDER ARMOUR, INC. UA Cash Flow

Under armour, inc. (UA)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
Cash flows from operating activities
Net income (loss)
-589,681	-15,304	102,315	-17,349	22,477	4,218	75,268	-95,544	-30,244	-87,920	54,241	-12,309	-2,272	103,231	128,224	6,344	19,180	105,602	100,477	14,766	11,728	87,709	89,105	17,690	13,538	64,166	72,784	17,566	7,814	50,132	57,317	6,668	14,661	32,552	45,987	6,241	12,139	22,948	34,857	3,502	7,170
Adjustments to reconcile net income (loss) to net cash used in operating activities
Depreciation and amortization
48,565	45,982	46,722	47,257	46,464	46,739	43,758	45,173	46,098	45,259	45,121	42,354	41,013	39,388	37,645	35,716	32,021	28,729	26,147	24,756	21,308	19,702	18,044	17,027	17,320	14,497	12,434	11,776	11,842	11,327	11,041	10,123	10,591	10,333	9,238	8,117	8,613	8,130	7,842	7,752	7,597
Unrealized foreign currency exchange rate gain (loss)
-12,976	14,958	-15,962	1,352	1,725	-4,673	3,801	-18,181	5,030	-1,182	1,036	21,080	8,313	-17,473	985	-7,387	11,248	-8,682	-5,454	2,193	-21,416	-6,858	-4,981	755	-655	-884	596	-1,011	-606	59	3,313	-2,594	1,686	-389	-6,622	1,062	1,922	2,847	6,015	-6,652	-3,490
Loss on disposal of property and equipment
-129	-1,756	-437	-1,439	-1,008	-878	-882	-2,337	-159	-795	-803	-159	-556	-1,076	-41	-79	-384	-115	-174	-33	-227	-183	-5	-21	-52	266	-132	-410	-56	-39	-85	-10	-390	-17	0	-17	-2	0	-23	-1	-20
Impairment charges
437,517	39,000	0	0	0	-37	270	7,412	2,248	16,262	55,116	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of bond premium
63	64	63	64	63	64	63	64	63	64	63	64	63	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stock-based compensation
10,465	11,552	12,413	13,142	12,493	9,355	11,772	12,536	8,137	5,491	9,633	12,694	12,082	2,655	14,822	14,220	14,403	15,576	23,504	12,253	9,043	11,847	15,105	10,640	13,220	17,598	6,708	6,970	11,908	4,690	4,805	3,932	6,418	4,471	6,458	3,819	3,315	6,181	3,778	2,932	3,336
Excess tax benefit (loss) from stock-based compensation arrangements
-	-	-	-	-	-	-	-	-	431	706	-2,320	1,258	-339	-7,306	-10,080	-27,058	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Deferred income taxes
23,253	14,305	37,717	-12,376	-1,514	-28,579	26,004	-25,324	-10,645	13,205	28,970	-2,170	15,905	18,557	-37,822	-26,463	2,724	10,840	273	-19,588	4,049	2,199	-12,395	-475	-6,913	-8,141	2,537	-7,560	-5,668	-5,464	-529	-5,143	-1,837	6,553	-3,012	16	63	-5,221	-1,085	-2,328	-1,703
Changes in reserves and allowances
10,130	-3,318	-12,582	-541	-9,655	4,075	-1,068	13,189	-251,194	64,964	52,374	12,606	-21,187	-377	17,014	40,894	12,657	20,814	8,867	4,918	5,792	20,556	10,793	-2,281	2,282	1,938	11,075	-2,685	3,617	10,055	2,503	3,275	-1,917	2,602	6,634	-934	-2,766	6,399	-1,351	806	-3,532
Changes in operating assets and liabilities:
Accounts receivable
-27,596	-142,135	112,469	-11,926	87,042	-210,680	140,742	-63,193	-53,703	-59,161	172,054	-12,526	-21,261	-92,489	267,776	-62,424	136,990	-96,811	203,583	-42,335	127,439	-147,199	195,166	-68,001	121,091	-145,140	143,506	-38,424	76,018	-126,632	137,426	-17,752	60,391	-101,482	104,467	-25,628	56,566	-67,182	77,004	-12,068	34,566
Inventories
59,701	-26,155	-61,062	94,578	-156,880	-140,309	-128,040	175,127	-16,697	-21,305	16,506	246,274	-19,084	-38,417	-110,182	250,696	45,958	-79,350	45,129	262,442	50,303	-92,112	-18,636	191,491	3,915	-29,376	10,727	171,226	4,323	7,894	-70,165	59,124	-1,552	7,797	11,047	62,423	33,379	20,656	12,499	33,784	-1,700
Prepaid expenses and other assets
-27,153	49,419	-9,220	-10,335	-54,198	10,336	43,097	-29,495	83,917	28,911	12,676	3,931	6,588	3,327	23,488	-19,137	15,351	23,847	31,547	-18,817	39,899	13,063	3,768	1,035	15,479	12,022	2,961	13,625	-9,559	6,521	-4,002	6,079	-4,538	19,275	15,660	5,838	1,860	-1,395	5,279	4,264	-4,049
Other non-current assets
336,357	-14,027	6,873	8,782	-21,594	-1,596	2,364	-1,499	731	-12,554	13,005	-451	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Accounts payable
-192,651	126,794	-125,010	236,102	-178,428	63,766	-197,517	227,058	-66,894	59,214	2,090	175,373	-90,982	134,353	-77,803	146,872	-976	-80,738	-111,976	130,065	40,066	-69,099	-57,438	168,533	7,141	-27,702	-35,300	88,202	-10,558	25,165	-34,338	50,595	-6,052	-1,639	-13,940	29,225	3,563	-5,446	8,027	13,663	-86
Accrued expenses and other liabilities
226,315	33,479	-4,372	51,411	-99,505	21,297	64,358	52,872	-3,933	34,297	42,100	26,173	7,253	15,970	70,617	-41,145	22,312	31,991	44,220	14,907	-14,264	8,676	34,466	11,555	-25,841	19,077	34,592	14,592	-11,780	4,355	23,269	20,383	-26,041	20,672	12,155	6,296	-15,681	11,431	13,059	1,788	-4,948
Customer refund liability
-8,334	8,000	-28,621	-27,921	-32,168	456	-2,507	-43,120	350,312	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income taxes payable and receivable
-4,150	26,295	-6,223	-6,281	5,071	40,273	13,494	-9,911	-2,805	47,110	-39,954	-27,151	-19,169	-57,637	83,905	4,768	-47,748	-11,853	49,584	17,986	-58,250	-23,350	50,802	4,440	-28,505	-12,134	30,963	205	-11,591	-6,684	23,242	1,227	-13,274	-9,058	21,921	-7,278	-1,018	-7,475	16,065	-9,337	5,697
Net cash used in operating activities
-366,712	406,563	-10,239	202,496	-89,789	509,413	-27,190	123,983	22,024	263,633	34,574	-28,195	-32,552	402,656	61,882	29,617	-127,532	327,989	-133,535	-3,387	-176,526	291,529	-26,830	101,870	-147,536	232,411	-21,865	-15,940	-74,536	205,773	20,823	46,213	-73,048	141,302	-42,411	1,824	-85,497	82,021	-19,582	-549	-11,776
Cash flows from investing activities
Purchases of property and equipment
31,498	40,035	28,721	41,135	35,911	48,946	25,832	39,677	55,930	55,415	58,651	75,483	91,790	65,080	67,360	79,445	104,573	72,195	61,248	96,866	68,619	43,932	27,695	29,186	39,715	25,772	22,362	21,367	18,329	13,100	13,990	14,721	8,839	10,947	15,098	19,337	10,846	7,649	7,324	8,055	7,154
Change in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-5,195	-230	198	198	-	-	-	-	-	-	-	-
Purchase of trust-owned life insurance policies
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	325
Purchase of long term investment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	162	-240	88	3,852	-	-	-	-
Purchases of other assets
0	38	276	997	0	-	-	-	-	-	-	-	-	-	-	-	-	-117	349	-173	2,494	136	464	-1	261	0	0	475	0	-	-	-	-	0	0	0	1,153	-	-	-	-
Purchase of businesses
37,343	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of businesses, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	351	539,109	0	0	0	10,924	148,097	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of available-for-sale securities
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	4,233	19,997	22,872	38,716	31,156	10,400	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Sales of available-for-sale securities
-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	9,298	21,414	28,296	48,909	16,094	3,311	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used in investing activities
-68,841	-40,073	-28,997	-42,132	-35,911	-48,681	-28,158	-70,135	-55,930	-55,415	-60,299	-75,483	-91,790	-65,097	-67,503	-145,383	-103,156	-66,654	-51,404	-112,082	-617,335	-44,068	-28,159	-29,185	-50,900	-173,869	-22,362	-23,542	-18,329	-9,215	-13,760	-14,919	-9,037	-11,563	-42,597	-19,425	-15,851	-18,927	-7,324	-8,055	-7,479
Cash flows from financing activities
Proceeds from long term debt and revolving credit facility
700,000	0	0	0	25,000	40,000	255,000	45,000	165,000	98,000	285,000	180,000	200,000	25,064	140,063	747,474	415,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from Lines of Credit
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	250,000	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds From Term Loan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	150,000	-	0	150,000	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment on Term Loan
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payments on long term debt and revolving credit facility
100,000	0	0	1,567	161,250	115,000	231,500	186,750	161,750	249,750	171,750	86,750	156,750	281,750	81,750	661,750	145,500	235,675	11,066	11,106	7,355	107,447	4,989	5,021	1,265	1,259	1,317	1,452	1,443	38,840	1,652	1,895	1,943	1,792	1,540	1,788	2,298	-	2,300	2,285	2,261
Cash paid for hedge settlement
0	-	-	-	1,566	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Employee taxes paid for shares withheld for income taxes
2,732	147	1,011	0	3,077	0	984	1	1,758	195	112	0	2,474	28,783	0	0	-13,685	-53,496	3,096	3,059	34,613	3,909	6,755	2,263	24,038	3,393	4,315	5,233	4,222	1,649	3,526	3,193	9,500	3,303	697	923	5,337	1,595	1,149	729	716
Payments on capital lease obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	12	38	47
Proceeds from exercise of stock options and other stock issuances
1,649	1,675	1,559	2,006	2,232	-8,159	1,826	6,595	2,318	1,823	3,079	3,856	2,782	2,463	5,422	3,646	3,954	2,783	2,583	2,022	2,922	1,716	3,864	1,569	8,627	2,376	2,989	5,068	4,670	1,583	3,341	2,984	6,868	4,325	1,264	2,230	6,826	3,539	1,486	1,421	889
Payments of debt financing costs
0	-108	0	-363	3,024	0	0	0	11	0	0	0	0	1,442	0	3,992	1,258	0	0	1	946	-1	0	1,714	0	-	-	-	-	-	-	-	-	0	762	0	1,562	-	-	-	-
Other financing fees
35	-14	1	26	50	0	219	87	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash provided by (used in) financing activities
598,952	1,622	549	2,394	-141,635	-83,159	24,561	-135,069	3,799	-150,122	116,217	97,106	43,558	-256,159	63,735	80,027	258,511	-286,388	194,613	43,974	429,234	98,179	5,630	47,097	31,400	104,510	5,987	8,849	7,449	-11,625	5,215	4,282	14,425	-24,164	35,303	26,365	8,303	2,534	5,585	-173	-703
Effect of exchange rate changes on cash, cash equivalents and restricted cash
8,761	291	346	5,032	-569	11,947	3,007	-4,644	2,157	-3,238	2,823	1,141	3,452	-8,629	624	-46	-674	-4,493	639	-4,347	-3,621	-1,934	-1,606	726	-527	-1,940	775	-1,247	-703	-139	1,841	300	-672	1,950	-2,120	76	19	4,306	-832	-1,096	-1,377
Net decrease in cash, cash equivalents and restricted cash
172,160	368,403	-38,341	167,790	-267,904	389,520	-27,780	-85,865	-27,950	54,858	93,315	-5,431	-77,332	72,771	58,738	-35,785	27,149	-29,546	10,313	-75,842	-368,248	343,706	-50,965	120,508	-167,563	161,112	-37,465	-31,880	-86,119	184,794	14,119	35,876	-68,332	107,525	-51,825	8,840	-93,026	69,934	-22,153	-9,873	-21,335
Non-cash investing and financing activities
Change in accrual for property and equipment
13,081	-23,704	-1,772	8,413	8,979	-41,177	-5,391	4,316	27,641	-21,306	8,075	-1,756	25,567	7,599	-5,288	848	13,814	12,958	-893	5,888	-195	-5,679	1,501	450	8,650	10,075	911	180	-7,380	11,607	506	-412	436	-	-	-	-	-	-	-	-
Other supplemental information
Noncash or Part Noncash Acquisition, Other Assets Acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	11,233	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Property and equipment acquired under build-to-suit leases
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	5,631	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchase of property and equipment through certain obligations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-372	1,537