Under Armour 2015 Annual Report Download - page 73

Download and view the complete annual report

Please find page 73 of the 2015 Under Armour annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 104

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104

4. Property and Equipment, Net
Property and equipment consisted of the following:
December 31,
(In thousands) 2015 2014
Leasehold and tenant improvements $ 214,834 $ 128,088
Furniture, fixtures and displays 132,736 80,035
Buildings 47,137 46,419
Software 99,309 67,506
Office equipment 50,399 51,531
Plant equipment 118,138 70,317
Land 17,628 17,628
Construction in progress 147,581 57,677
Other 4,002 3,175
Subtotal property and equipment 831,764 522,376
Accumulated depreciation (293,233) (216,812)
Property and equipment, net $ 538,531 $ 305,564
Construction in progress primarily includes costs incurred for software systems, leasehold improvements
and in-store fixtures and displays not yet placed in use.
Depreciation expense related to property and equipment was $87.1 million, $63.6 million and $48.3 million
for the years ended December 31, 2015, 2014 and 2013, respectively.
5. Goodwill and Intangible Assets, Net
The following table summarizes changes in the carrying amount of the Company’s goodwill by reportable
segment as of the periods indicated:
(In thousands) North America
Connected
Fitness International Total
Balance as of December 31, 2014 $119,799 $ 2,445 $ 1,012 $123,256
Goodwill acquired 198,417 26,217 248,724 473,358
Effect of currency translation adjustment (1,363) (1,302) (8,768) (11,433)
Balance as of December 31, 2015 $316,853 $27,360 $240,968 $585,181
65