Columbia Sportswear 2012 Annual Report Download - page 56

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COLUMBIA SPORTSWEAR COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
52
December 31,
2012 2011
Trade accounts receivable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 341,701 $ 359,083
Allowance for doubtful accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (7,377) (7,545)
Accounts receivable, net. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 334,324 $ 351,538
NOTE 5—INVENTORIES, NET
Inventories, net, consisted of the following (in thousands):
December 31,
2012 2011
Raw materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,633 $ 2,044
Work in process. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,969 1,240
Finished goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 359,723 361,915
$ 363,325 $ 365,199
NOTE 6—PROPERTY, PLANT, AND EQUIPMENT, NET
Property, plant, and equipment consisted of the following (in thousands):
December 31,
2012 2011
Land and improvements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 20,036 $ 20,690
Building and improvements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 166,365 155,672
Machinery and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 206,805 198,387
Furniture and fixtures. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54,914 50,108
Leasehold improvements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72,426 65,476
Construction in progress . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43,021 36,463
563,567 526,796
Less accumulated depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (303,043) (275,886)
$ 260,524 $ 250,910
NOTE 7—INTANGIBLE ASSETS, NET AND GOODWILL
Intangible assets that are determined to have finite lives include patents and purchased technology and are amortized
over their estimated useful lives, which is approximately 10 years. Intangible assets with indefinite useful lives include
trademarks and tradenames and are not amortized but are periodically evaluated for impairment.
Identifiable intangible assets consisted of the following (in thousands):
December 31,
2012 2011
Intangible assets subject to amortization:
Gross carrying amount. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 14,198 $ 14,198
Accumulated amortization. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (4,001) (2,599)
Net carrying amount . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,197 11,599
Intangible assets not subject to amortization . . . . . . . . . . . . . . . . . . . . . . . . . . 27,421 27,421
Intangible assets, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 37,618 $ 39,020