Columbia Sportswear 2011 Annual Report Download - page 75

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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,
2011 2010
Derivative instruments designated as cash flow
hedges:
Derivative instruments in asset positions:
Currency forward contracts ........ Prepaid expenses and other current assets $6,591 $ 362
Currency forward contracts ........ Other non-current assets 1,117 —
Currency option contracts ......... Prepaid expenses and other current assets — 15
Derivative instruments in liability
positions:
Currency forward contracts ........ Accrued liabilities 824 2,732
Currency forward contracts ........ Other long-term liabilities 91 —
Currency option contracts ......... Accrued liabilities — 102
Balance Sheet Classification
December 31,
2011 2010
Derivative instruments not designated as
hedges:
Derivative instruments in asset positions:
Currency forward contracts ........ Prepaid expenses and other current assets $ 645 $ 789
Derivative instruments in liability
positions:
Currency forward contracts ........ Accrued liabilities 2,962 4,169
The following table presents the effect and classification of derivative instruments for the years ended
December 31, 2011 and 2010 (in thousands):
Statement Of Operations Classification
For the Year Ended
December 31,
2011 2010 2009
Currency Forward Contracts:
Derivative instruments designated as
cash flow hedges:
Gain (Loss) recognized in other
comprehensive income, net
oftax................... — $3,489 $1,167 $(3,024)
Gain (Loss) reclassified from
accumulated other
comprehensive income to
income for the effective
portion ................. Cost of sales (6,862) 1,789 (740)
Loss recognized in income for
amount excluded from
effectiveness testing and for
the ineffective portion ..... Cost of sales (1,889) (230) (14)
Derivative instruments not
designated as hedges:
Loss recognized in income .... Cost of sales — (130) (130)
Gain (Loss) recognized in
income ................. SG&A 1,216 (54) —
70