Columbia Sportswear 2010 Annual Report Download - page 76

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COLUMBIA SPORTSWEAR COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
The following table presents the balance sheet classification and fair value of derivative instruments (in
thousands):
Balance Sheet Classification
December 31,
2010 2009
Derivative instruments designated as cash flow
hedges:
Derivative instruments in asset positions:
Currency forward contracts ........ Prepaid expenses and other current assets $ 362 $1,099
Currency option contracts ......... Prepaid expenses and other current assets 15 —
Derivative instruments in liability
positions:
Currency forward contracts ........ Accrued liabilities 2,732 890
Currency option contracts ......... Accrued liabilities 102 —
Balance Sheet Classification
December 31,
2010 2009
Derivative instruments not designated as cash
flow hedges:
Derivative instruments in asset positions:
Currency forward contracts ........ Prepaid expenses and other current assets $ 789 $ 453
Derivative instruments in liability
positions:
Currency forward contracts ........ Accrued liabilities 4,169 1,065
The following table presents the effect and classification of derivative instruments for the years ended
December 31, 2010 and 2009 (in thousands):
Statement Of Operations Classification
For the Year Ended
December 31,
2010 2009
Currency Forward Contracts:
Derivative instruments designated as cash
flow hedges:
Gain (Loss) recognized in other
comprehensive income, net of
tax ......................... — $1,167 $(3,024)
Gain (Loss) reclassified from
accumulated other comprehensive
income to income for the effective
portion ..................... Cost of sales 1,789 (740)
Loss recognized in income for
amount excluded from
effectiveness testing and for the
ineffective portion ............ Cost of sales (230) (14)
Derivative instruments not designated as
cash flow hedges:
Loss recognized in income ........ Cost of sales (130) (130)
Loss recognized in income ........ SG&A (54) —
70