Columbia Sportswear 2002 Annual Report Download - page 34

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INDEPENDENT AUDITORS’ REPORT
The Board of Directors and Shareholders of Columbia Sportswear Company:
We have audited the accompanying consolidated balance sheets of Columbia Sportswear Company and
subsidiaries as of December 31, 2002 and 2001, and the related consolidated statements of operations,
shareholders’ equity and cash flows for each of the three years in the period ended December 31, 2002. These
financial statements are the responsibility of the Company’s management. Our responsibility is to express an
opinion on these financial statements based on our audits.
We conducted our audits in accordance with auditing standards generally accepted in the United States of
America. Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statements are free of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
In our opinion, such consolidated financial statements present fairly, in all material respects, the financial
position of Columbia Sportswear Company and subsidiaries as of December 31, 2002 and 2001, and the results
of their operations and their cash flows for each of the three years in the period ended December 31, 2002, in
conformity with accounting principles generally accepted in the United States of America.
DELOITTE & TOUCHE LLP
Portland, Oregon
January 30, 2003
(March 14, 2003 as to Note 17)
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