Columbia Sportswear Company Quarterly report pursuant to Section 13 or 15(d)

Financial Instruments And Risk Management (Tables)

3 Months Ended

Mar. 31, 2018

The following table presents the gross notional amount of outstanding derivative instruments (in thousands):



	March 31, 2018		December 31, 2017		March 31, 2017
Derivative instruments designated as cash flow hedges:
Currency forward contracts	$	584,107	$	448,448	$	233,500
Derivative instruments not designated as cash flow hedges:
Currency forward contracts	234,579		231,161		168,361

The following table presents the balance sheet classification and fair value of derivative instruments (in thousands):



	Balance Sheet Classification	March 31, 2018		December 31, 2017		March 31, 2017
Derivative instruments designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	$	998	$	1,648	$	6,347
Currency forward contracts	Other non-current assets	2,492		335		1,619
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	11,017		9,336		134
Currency forward contracts	Other long-term liabilities	7,294		3,820		—
Derivative instruments not designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	1,121		683		292
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	355		1,229		220

The following table presents the statement of operations effect and classification of derivative instruments (in thousands):



	Statement of Operations Classification	Three Months Ended March 31,
	Statement of Operations Classification	2018			2017
Currency Forward and Option Contracts:
Derivative instruments designated as cash flow hedges:
Loss recognized in other comprehensive income or loss, net of tax	—	$	(5,232	)	$	(1,438	)
Gain reclassified from accumulated other comprehensive income or loss to income for the effective portion	Net sales	5			144
Gain (loss) reclassified from accumulated other comprehensive income or loss to income for the effective portion	Cost of sales	(2,206		)	54
Gain recognized in income for amount excluded from effectiveness testing and for the ineffective portion	Net sales	6			3
Gain recognized in income for amount excluded from effectiveness testing and for the ineffective portion	Cost of sales	1,925			794
Derivative instruments not designated as cash flow hedges:
Loss recognized in income	Other non-operating expense	(602		)	(1,688		)