Columbia Sportswear 2014 Annual Report Download - page 81

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77
Based on our assessment we believe that, as of December 31, 2014, the Company’s internal control over financial reporting
is effective based on those criteria. We acquired prAna Living LLC (“prAna”) in May 2014; therefore as permitted by the
Securities and Exchange Commission, we excluded prAna from the scope of our management’s assessment of the
effectiveness of our internal controls over financial reporting as of December 31, 2014. The total assets and total revenues
of prAna represented 4% and 2%, respectively, of the related consolidated financial statement amounts as of and for the
year ended December 31, 2014.
We are implementing an enterprise resource planning ("ERP") system and complementary systems that support our
operations and financial reporting, which significantly affect our business and financial transaction and reporting processes.
This implementation is occurring in phases globally over several years, with implementation to date at our Canadian
subsidiary in April 2012 and our United States operations in April 2014. Each implementation phase of our worldwide ERP
system and complementary systems involves changes to the processes that constitute our internal control over financial
reporting. We are taking steps to monitor and maintain appropriate internal control over financial reporting and will continue
to evaluate these controls for effectiveness.
There were no other changes in our internal control over financial reporting that occurred during the quarter ended
December 31, 2014 that have materially affected, or are reasonably likely to materially affect, our internal control over
financial reporting.
Our independent auditors have issued an audit report on the effectiveness of our internal control over financial reporting
as of December 31, 2014, which is included herein.