Columbia Sportswear 2013 Annual Report Download - page 59

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COLUMBIA SPORTSWEAR COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
55
Accounts receivable, net, is as follows (in thousands):
December 31,
2013 2012
Trade accounts receivable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 315,160 $ 341,701
Allowance for doubtful accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (8,282) (7,377)
Accounts receivable, net. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 306,878 $ 334,324
NOTE 6—INVENTORIES, NET
Inventories, net, consisted of the following (in thousands):
December 31,
2013 2012
Raw materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,130 $ 1,633
Work in process. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,203 1,969
Finished goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 326,895 359,723
$ 329,228 $ 363,325
NOTE 7—PROPERTY, PLANT, AND EQUIPMENT, NET
Property, plant, and equipment consisted of the following (in thousands):
December 31,
2013 2012
Land and improvements. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 21,321 $ 20,036
Buildings and improvements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 165,582 166,365
Machinery and equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 212,097 206,805
Furniture and fixtures. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65,540 54,914
Leasehold improvements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78,631 72,426
Construction in progress . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62,582 43,021
605,753 563,567
Less accumulated depreciation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (326,380) (303,043)
$ 279,373 $ 260,524
NOTE 8—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 trade names and are not amortized but are periodically evaluated for impairment.
Identifiable intangible assets consisted of the following (in thousands):
December 31,
2013 2012
Intangible assets subject to amortization:
Gross carrying amount. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 14,198 $ 14,198
Accumulated amortization. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (5,331) (4,001)
Net carrying amount . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8,867 10,197
Intangible assets not subject to amortization . . . . . . . . . . . . . . . . . . . . . . . . . . 27,421 27,421
Intangible assets, net . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 36,288 $ 37,618