Columbia Sportswear 2014 Annual Report Download - page 77

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COLUMBIA SPORTSWEAR COMPANY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
73
Level 1 – observable inputs such as quoted prices for identical assets or liabilities in active liquid markets;
Level 2 – inputs, other than the quoted market prices in active markets, that are observable, either directly or
indirectly; or observable market prices in markets with insufficient volume and/or infrequent transactions;
and
Level 3 – unobservable inputs for which there is little or no market data available, that require the reporting entity
to develop its own assumptions.
Assets and liabilities measured at fair value on a recurring basis as of December 31, 2014 are as follows (in thousands):
Level 1 Level 2 Level 3 Total
Assets:
Cash equivalents
Money market funds $ 94,112 $ — $ — $ 94,112
Time deposits 45,187 — — 45,187
Certificates of deposit — 1,470 — 1,470
Reverse repurchase agreements — 40,000 — 40,000
U.S. Government-backed municipal bonds — 5,812 — 5,812
Available-for-sale short-term investments
Certificates of deposit — 3,184 — 3,184
U.S. Government-backed municipal bonds — 23,598 — 23,598
Other short-term investments
Mutual fund shares 485 — — 485
Other current assets
Derivative financial instruments (Note 20) — 12,747 — 12,747
Non-current assets
Mutual fund shares 6,039 — — 6,039
Total assets measured at fair value $ 145,823 $ 86,811 $ — $ 232,634
Liabilities:
Accrued liabilities
Derivative financial instruments (Note 20) $ — $ 924 $ — $ 924
Total liabilities measured at fair value $ — $ 924 $ — $ 924
Assets and liabilities measured at fair value on a recurring basis at December 31, 2013 are as follows (in thousands):