Columbia Sportswear 2013 Annual Report Download - page 69

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COLUMBIA SPORTSWEAR COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
65
being amortized over the related vesting period using the straight-line attribution method. These unrecognized costs at
December 31, 2013 are expected to be recognized over a weighted average period of 2.26 years. The total grant date fair
value of restricted stock units vested during the year ended December 31, 2013, 2012 and 2011 was $5,362,000, $3,874,000
and $5,586,000, respectively.
NOTE 17—EARNINGS PER SHARE
Earnings per share (“EPS”) is presented on both a basic and diluted basis. Basic EPS is based on the weighted average
number of common shares outstanding. Diluted EPS reflects the potential dilution that could occur if outstanding securities
or other contracts to issue common stock were exercised or converted into common stock. For the calculation of diluted
EPS, the basic weighted average number of shares is increased by the dilutive effect of stock options and restricted stock
units determined using the treasury stock method.
A reconciliation of the common shares used in the denominator for computing basic and diluted EPS is as follows (in
thousands, except per share amounts):
Year Ended December 31,
2013 2012 2011
Weighted average common shares outstanding, used in computing basic
earnings per share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34,378 33,840 33,808
Effect of dilutive stock options and restricted stock units . . . . . . . . . . . . . . . . . . . 339 292 396
Weighted-average common shares outstanding, used in computing diluted
earnings per share . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34,717 34,132 34,204
Earnings per share of common stock attributable to Columbia Sportswear
Company:
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 2.74 $ 2.95 $ 3.06
Diluted. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.72 2.93 3.03
Stock options and service-based restricted stock units representing 360,795, 887,186 and 452,907 shares of common
stock for the years ended December 31, 2013, 2012 and 2011, respectively, were outstanding but were excluded in the
computation of diluted EPS because their effect would be anti-dilutive as a result of applying the treasury stock method.
In addition, performance-based restricted stock units representing 10,929, 36,506 and 34,448 shares for the years ended
December 31, 2013, 2012 and 2011, respectively, were outstanding but were excluded from the computation of diluted EPS
because these shares were subject to performance conditions that had not been met.
NOTE 18—ACCUMULATED OTHER COMPREHENSIVE INCOME
Accumulated other comprehensive income, net of applicable taxes, reported on the Company’s Consolidated Balance
Sheets consists of unrealized gains and losses on available-for-sale securities, unrealized gains and losses on derivative
transactions and foreign currency translation adjustments. The following table sets forth the changes in accumulated other
comprehensive income attributable to Columbia Sportswear Company, net of related tax effects, for the years ended
December 31, 2013, 2012 and 2011 (in thousands):