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COLUMBIA SPORTSWEAR COMPANY
See accompanying notes to consolidated financial statements
48
CONSOLIDATED STATEMENTS OF EQUITY
(In thousands)
Columbia Sportswear Company Shareholders' Equity
Common Stock
Retained
Earnings
Accumulated
Other
Comprehensive
Income
Non-
Controlling
Interest Total
Shares
Outstanding Amount
BALANCE, JANUARY 1, 2011 . . . . . . . . . . . 33,683 $ 5,052 $ 950,207 $ 46,715 $ — $ 1,001,974
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 103,479 — — 103,479
Other comprehensive income (loss):
Unrealized holding losses on available-for-
sale securities, net. . . . . . . . . . . . . . . . . . . . . — — — (38) — (38)
Unrealized holding gains on derivative
transactions, net . . . . . . . . . . . . . . . . . . . . . . — — — 8,921 — 8,921
Foreign currency translation adjustment, net . . — — — (8,701) — (8,701)
Cash dividends ($0.86 per share) . . . . . . . . . . . . . . — — (29,075) — — (29,075)
Issuance of common stock under employee stock
plans, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 353 8,017 — — — 8,017
Tax adjustment from stock plans . . . . . . . . . . . . . . — 2,098 — — — 2,098
Stock-based compensation expense . . . . . . . . . . . . — 7,870 — — — 7,870
Repurchase of common stock. . . . . . . . . . . . . . . . . (398) (20,000) — — — (20,000)
BALANCE, DECEMBER 31, 2011 . . . . . . . . 33,638 3,037 1,024,611 46,897 — 1,074,545
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 99,859 — — 99,859
Other comprehensive income (loss):
Unrealized holding losses on available-for-
sale securities, net. . . . . . . . . . . . . . . . . . . . . — — — (7) — (7)
Unrealized holding losses on derivative
transactions, net . . . . . . . . . . . . . . . . . . . . . . — — — (4,745) — (4,745)
Foreign currency translation adjustment, net . . — — — 4,518 — 4,518
Cash dividends ($0.88 per share) . . . . . . . . . . . . . . — — (29,780) — — (29,780)
Issuance of common stock under employee stock
plans, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 441 13,114 — — — 13,114
Tax adjustment from stock plans . . . . . . . . . . . . . . — 1,036 — — — 1,036
Stock-based compensation expense . . . . . . . . . . . . — 7,833 — — — 7,833
Repurchase of common stock. . . . . . . . . . . . . . . . . (4) (206) — — — (206)
BALANCE, DECEMBER 31, 2012 . . . . . . . . 34,075 24,814 1,094,690 46,663 — 1,166,167
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — — 94,341 — (738) 93,603
Other comprehensive income (loss):
Unrealized holding gains on available-for-sale
securities, net . . . . . . . . . . . . . . . . . . . . . . . . — — — 3 — 3
Unrealized holding losses on derivative
transactions, net . . . . . . . . . . . . . . . . . . . . . . — — — (1,261) — (1,261)
Foreign currency translation adjustment, net . . — — — (10,045) 184 (9,861)
Cash dividends ($0.91 per share) . . . . . . . . . . . . . . — — (31,298) — — (31,298)
Issuance of common stock under employee stock
plans, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 520 17,246 — — — 17,246
Capital contribution from non-controlling interest — — — — 8,000 8,000
Tax adjustment from stock plans . . . . . . . . . . . . . . — 1,387 — — —1,387
Stock-based compensation expense . . . . . . . . . . . . — 8,878 — — — 8,878
BALANCE, DECEMBER 31, 2013 . . . . . . . . 34,595 $ 52,325 $1,157,733 $ 35,360 $ 7,446 $ 1,252,864