Quarterly report pursuant to Section 13 or 15(d)

Non-Controlling Interest

v3.8.0.1
Non-Controlling Interest
 3 Months Ended
Mar. 31, 2018
Noncontrolling Interest [Abstract]  
Non-controlling Interest
NON-CONTROLLING INTEREST
The Company owns a 60% controlling interest in a joint venture formed with Swire Resources Limited ("Swire") to support the development and operation of the Company's business in China. The accounts of the joint venture are included in the condensed consolidated financial statements. Swire's share of net income from the joint venture is included in net income attributable to non-controlling interest in the Condensed Consolidated Statements of Operations for the three months ended March 31, 2018 and 2017. The 40% non-controlling equity interest in this entity is included in total equity as non-controlling interest in the Condensed Consolidated Balance Sheets as of March 31, 2018 and 2017, and December 31, 2017.
The following table presents the changes in Columbia Sportswear Company shareholders' equity and non-controlling interest for the three months ended March 31, 2018 (in thousands, except per share amounts):
 
 
Columbia Sportswear Company
 
Non-Controlling Interest
 
Total
Balance at December 31, 2017
 
$
1,621,951

 
$
30,308

 
$
1,652,259

Net income
 
45,107

 
3,622

 
48,729

Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
Unrealized holding gains on available-for-sale securities
 
4

 
—

 
4

Derivative holding losses
 
(4,570
)
 
(337
)
 
(4,907
)
Foreign currency translation adjustments
 
5,019

 
1,240

 
6,259

Cash dividends ($0.22 per share)
 
(15,452
)
 
—

 
(15,452
)
Issuance of common stock under employee stock plans, net
 
5,347

 
—

 
5,347

Adoption of new accounting pronouncements (Note 2)
 
14,100

 
—

 
14,100

Stock-based compensation expense
 
3,113

 
—

 
3,113

Repurchase of common stock
 
(18,099
)
 
—

 
(18,099
)
Balance at March 31, 2018
 
$
1,656,520

 
$
34,833

 
$
1,691,353


The following table presents the changes in Columbia Sportswear Company shareholders' equity and non-controlling interest for the three months ended March 31, 2017 (in thousands, except per share amounts):
 
 
Columbia Sportswear Company
 
Non-Controlling Interest
 
Total
Balance at December 31, 2016
 
$
1,560,820

 
$
20,691

 
$
1,581,511

Net income
 
36,006

 
2,879

 
38,885

Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
Unrealized holding gains on available-for-sale securities
 
4

 
—

 
4

Derivative holding losses
 
(1,527
)
 
(78
)
 
(1,605
)
Foreign currency translation adjustments
 
11,248

 
254

 
11,502

Cash dividends ($0.18 per share)
 
(12,499
)
 
—

 
(12,499
)
Issuance of common stock under employee stock plans, net
 
4,278

 
—

 
4,278

Stock-based compensation expense
 
2,941

 
—

 
2,941

Repurchase of common stock
 
(33,000
)
 
—

 
(33,000
)
Balance at March 31, 2017
 
$
1,568,271

 
$
23,746

 
$
1,592,017