Columbia Sportswear 2010 Annual Report Download - page 62

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COLUMBIA SPORTSWEAR COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
NOTE 9—ACCRUED LIABILITIES
Accrued liabilities consisted of the following (in thousands):
December 31,
2010 2009
Accrued salaries, bonus, vacation and other benefits ....................... $ 49,078 $34,711
Accrued import duties ............................................... 13,443 1,117
Product warranties .................................................. 10,256 12,112
Other ............................................................ 30,033 19,372
$102,810 $67,312
A reconciliation of product warranties is as follows (in thousands):
Year Ended December 31,
2010 2009 2008
Balance at beginning of period ................................. $12,112 $ 9,746 $10,862
Provision for warranty claims ................................. 1,371 5,133 2,718
Warranty claims ............................................ (3,104) (2,984) (3,364)
Other ..................................................... (123) 217 (470)
Balance at end of period ...................................... $10,256 $12,112 $ 9,746
NOTE 10—INCOME TAXES
Consolidated income from continuing operations before income taxes consisted of the following (in
thousands):
Year Ended December 31,
2010 2009 2008
U.S. operations ........................................... $ 59,881 $59,629 $ 44,478
Foreign operations ........................................ 45,010 30,221 81,765
Income before income tax .............................. $104,891 $89,850 $126,243
The components of the provision (benefit) for income taxes consisted of the following (in thousands):
Year Ended December 31,
2010 2009 2008
Current:
Federal .............................................. $24,419 $10,030 $ 22,576
State and local ........................................ 4,060 2,088 2,459
Non-U.S. ............................................ 23,253 10,399 18,568
51,732 22,517 43,603
Deferred:
Federal .............................................. (18,405) 2,377 (10,444)
State and local ........................................ (1,223) 12 (1,228)
Non-U.S. ............................................ (4,250) (2,077) (735)
(23,878) 312 (12,407)
Income tax expense ........................................ $27,854 $22,829 $ 31,196
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