Columbia Sportswear 2010 Annual Report Download - page 72

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COLUMBIA SPORTSWEAR COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
NOTE 17—COMPREHENSIVE INCOME
Accumulated other comprehensive income, net of applicable taxes, reported on the Company’s
Consolidated Balance Sheets consists of foreign currency translation adjustments, unrealized gains and losses on
derivative transactions and unrealized gains and losses on available-for-sale securities. A summary of
comprehensive income, net of related tax effects, for the year ended December 31, is as follows (in thousands):
2010 2009 2008
Net income ....................................................... $77,037 $67,021 $ 95,047
Other comprehensive income (loss):
Unrealized holding gains (losses) on available-for-sale securities ......... (28) 64 —
Unrealized derivative holding gains (losses) arising during period (net of
tax expense (benefit) of ($725), ($1,054) and $361 in 2010, 2009 and
2008, respectively) ........................................... 1,167 (3,024) 6,425
Reclassification to net income of previously deferred gains on derivative
transactions (net of tax benefit of $269, $227 and $36 in 2010, 2009 and
2008, respectively) ........................................... (1,680) (616) (389)
Foreign currency translation adjustments ............................ 3,812 13,854 (30,511)
Other comprehensive income (loss) .................................... 3,271 10,278 (24,475)
Comprehensive income .............................................. $80,308 $77,299 $ 70,572
Accumulated other comprehensive income, net of related tax effects, is as follows (in thousands):
Foreign
currency
translation
adjustments
Unrealized
holding gains
(losses) on
derivative
transactions
Unrealized
holding gains
(losses) on
available-for-
sale securities
Accumulated
other
comprehensive
income
Balance at December 31, 2009 ..................... $44,538 $(1,158) $ 64 $43,444
Activity for the twelve months ended December 31,
2010 ........................................ 3,812 (513) (28) 3,271
Balance at December 31, 2010 ..................... $48,350 $(1,671) $ 36 $46,715
66