Columbia Sportswear 2003 Annual Report Download - page 58

Download and view the complete annual report

Please find page 58 of the 2003 Columbia Sportswear 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 67

  • 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

COLUMBIA SPORTSWEAR COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
NOTE 16—SEGMENT INFORMATION
The Company operates predominantly in one industry segment: the design, production, marketing and
selling of active outdoor apparel, including outerwear, sportswear, footwear, related accessories and equipment.
The geographic distribution of the Company’s net sales, income before income tax, identifiable assets,
interest (income) expense, and depreciation and amortization expense are summarized in the following table (in
thousands) for the years ended December 31, 2003, 2002 and 2001. Inter-geographic net sales, which are
recorded at a negotiated mark-up and eliminated in consolidation, are not material.
2003 2002 2001
Net sales to unrelated entities:
United States ....................................................... $ 596,807 $ 557,519 $551,260
Canada ............................................................ 106,708 86,661 81,263
Europe ............................................................ 135,225 95,933 82,313
Other International .................................................. 113,046 76,206 64,745
$ 951,786 $ 816,319 $779,581
Income before income tax:
United States ....................................................... $ 142,196 $ 151,147 $124,944
Canada ............................................................ 20,480 15,360 15,906
Europe ............................................................ 3,892 2,512 773
Other International .................................................. 20,198 11,653 9,629
Less interest and other income (expense) and eliminations ................... 3,903 (16,643) (5,639)
$ 190,669 $ 164,029 $145,613
Assets:
United States ....................................................... $ 729,533 $ 563,447 $434,130
Canada ............................................................ 69,184 55,046 44,272
Europe ............................................................ 163,514 120,722 49,756
Other international .................................................. 46,985 35,830 30,853
Total identifiable assets ............................................... 1,009,216 775,045 559,011
Eliminations and reclassifications ....................................... (225,450) (182,228) (84,044)
Total assets .................................................... $ 783,766 $ 592,817 $474,967
Interest (income) expense, net:
United States ....................................................... $ (1,543) $ (1,362) $ 783
Canada ............................................................ 112 996 1,065
Europe ............................................................ 862 (84) 610
Other International .................................................. 89 96 110
$ (480) $ (354) $ 2,568
Depreciation and amortization expense:
United States ....................................................... $ 16,248 $ 16,247 $ 15,083
Canada ............................................................ 428 307 242
Europe ............................................................ 5,795 1,778 1,027
Other International .................................................. 594 353 389
$ 23,065 $ 18,685 $ 16,741
Net sales to unrelated entities:
Outerwear ......................................................... $ 443,669 $ 422,503 $403,252
Sportswear ......................................................... 311,301 245,164 232,871
Footwear .......................................................... 148,614 110,038 108,653
Accessories ........................................................ 43,477 38,614 34,805
Equipment (1) ...................................................... 4,725 — —
$ 951,786 $ 816,319 $779,581
(1) The equipment product category was introduced with the acquisition of Mountain Hardwear and consists
primarily of tents and sleeping bags.
53