PART 2 Cases in Crafting and Executing Strategy

EXHIBIT I Select Financial Data for Under Armour, lnc.,2OO8-2q-13

(in thousands, except per share amounts)

Net rovenues, :' $2,,332,051 $1,834;921 $1,472,884 $1,063,927 : '$725,244

Cost of goods sold 1i;195;381 ,955',624 759;848 ,593,420' ?7?,2Aa

Gr.ossprofit.:.-''::..:...]'.,...'l,'' l;136,670 ', 879;297 712,836 -530;507, 353;041

Selling,'$eneral and"adrninistrative expenses

',871.572 670.602 550,069 418,152 276.116
lhcome Irom oPerations' , 265 098 '2oB;69s 1'62,767 ' 112;355 , 76,925

lnterest expense, net (2;933) ,. , (5;193) ', (3,841) (2;258) , (850)

(1,172) :(73) (2;06a) (1,178) (6,1'75)
Other expense, net
260,993 203,:439 156,862 108;9'19 69,900
lncome beforejncome taxes'
'Provision' for income taxes 98,663 74,661' - , 59,943 ' 4A,442'' " 31 ,671
r$ 68;477 $
Net income $ 162,330 $ 1.28,778 $ 96,919 38;229
: . .i
Net incorne Per common share
,
, .

Bastc , $1'54 , $1.a3 $0,94 $0,67, $o:99

0.38
DiluteO :..:r,1, ,.,, ,. :-.r,.r ,,,':l 1.50 1.21 , , 0.92
0,67
., ,, ,.''...'
Weighted:aver'acje comrnon shares . ..:

outstanding"r" r '
, :;1, :

,,
Bastc ,,. 105,348 ', ,104;343 , 103;1'40 _10J159,5 , 99;171

Diluted 107,979 , 106,380 105;052 102,563 100,665

Canh And cath equivalenls

,, i..,t,, i ,,
$ o+z+ag $ 341,841 $175,384 $203,870, $10-2,q42

Working capital" 702,181 osl,szo s06,056 406,703 ' 2631313

lnventories at year-end 469,006 319,286 324.409 215,355 182,292

Total assets 1,577,741 '1,152083 919,210 675,378 487555

Totat debt and capital lease obligations, .''. 15,942 45,s91
including current maturities 52,923 51,889 77,724

Total stockholders equitY 1,053,354 816,922 636,432 496,966 ' '331,097

Net:cash provided by operating activities $ 120,070 ,$ , 199,76,1 $ 15,218 $ 50,114 r$ 69,516

.Working capital is defined as current assets minus current liabilities

Source: Company 1O-K reports for 2013, 2012, 2010, and 2008.

America not only via store retailers and catalog . Growing global awareness of the Under Armour
retailers lut also thrqugh under Armour factory brand name and strengthening the appeal of
outlet and speq!4lty stores and sales at the com- Under Armour products worldwide.
pany's website. 1

. Expanding the sale of Under Armour products iq

foreign countries and becoming a global competi-
Product Line StrategY
tor in the world market for sports apparel, athletic For a number of years, expanding the compa-
footwear, and performance products. ny's product offerings and marketing them at