Quarterly report pursuant to Section 13 or 15(d)

Non-Controlling Interest

v3.10.0.1
Non-Controlling Interest
 6 Months Ended
Jun. 30, 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 and six months ended June 30, 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 June 30, 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 six months ended June 30, 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
 
54,844

 
4,380

 
59,224

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

 
—

 
4

Derivative holding gains
 
15,120

 
526

 
15,646

Foreign currency translation adjustments
 
(12,096
)
 
93

 
(12,003
)
Cash dividends ($0.44 per share)
 
(30,856
)
 
—

 
(30,856
)
Dividends declared but not yet paid
 
—

 
(21,332
)
 
(21,332
)
Issuance of common stock under employee stock plans, net of tax
 
10,840

 
—

 
10,840

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

 
—

 
14,100

Stock-based compensation expense
 
6,599

 
—

 
6,599

Repurchase of common stock
 
(40,106
)
 
—

 
(40,106
)
Balance at June 30, 2018
 
$
1,640,400

 
$
13,975

 
$
1,654,375


The following table presents the changes in Columbia Sportswear Company shareholders' equity and non-controlling interest for the six months ended June 30, 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
 
24,471

 
3,098

 
27,569

Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
Derivative holding losses
 
(7,567
)
 
(195
)
 
(7,762
)
Foreign currency translation adjustments
 
16,888

 
1,796

 
18,684

Cash dividends ($0.36 per share)
 
(25,046
)
 
—

 
(25,046
)
Issuance of common stock under employee stock plans, net
 
7,067

 
—

 
7,067

Stock-based compensation expense
 
5,719

 
—

 
5,719

Repurchase of common stock
 
(35,542
)
 
—

 
(35,542
)
Balance at June 30, 2017
 
$
1,546,810

 
$
25,390

 
$
1,572,200