Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.10.0.1
Earnings Per Share
 6 Months Ended
Jun. 30, 2018
Earnings Per Share [Abstract]  
Earnings Per Share
EARNINGS PER SHARE
Earnings per share ("EPS") is presented on both a basic and diluted basis. Basic EPS is based on the weighted average number of common shares outstanding. Diluted EPS reflects the potential dilution that could occur if outstanding securities or other contracts to issue common stock were exercised or converted into common stock.
A reconciliation of common shares used in the denominator for computing basic and diluted EPS is as follows (in thousands, except per share amounts):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2018
 
2017
 
2018
 
2017
Weighted average shares of common stock outstanding, used in computing basic earnings per share
70,021

 
69,672

 
70,050

 
69,639

Effect of dilutive stock options and restricted stock units
727

 
—

 
774

 
728

Weighted average shares of common stock outstanding, used in computing diluted earnings per share
70,748

 
69,672

 
70,824

 
70,367

Earnings (loss) per share of common stock attributable to Columbia Sportswear Company:
 
 
 
 
 
 
 
Basic
$
0.14

 
$
(0.17
)
 
$
0.78

 
$
0.35

Diluted
$
0.14

 
$
(0.17
)
 
$
0.77

 
$
0.35


 
Stock options and service-based restricted stock units representing 378,360 and 2,641,676 shares of common stock for the three months ended June 30, 2018 and 2017, respectively, were outstanding but were excluded from the computation of diluted EPS because their effect would be anti-dilutive as a result of applying the treasury stock method. Stock options and service-based restricted stock units representing 290,673 and 862,559 shares of common stock for the six months ended June 30, 2018 and 2017, respectively, were outstanding but were excluded from the computation of diluted EPS because their effect would be anti-dilutive as a result of applying the treasury stock method. In addition, performance-based restricted stock units representing 21,164 and 50,403 shares of common stock for the three months ended June 30, 2018 and 2017, respectively, and 21,164 and 46,485 shares of common stock for the six months ended June 30, 2018 and 2017, respectively, were outstanding but were excluded from the computation of diluted EPS because these shares were subject to performance conditions that had not been met.

Common Stock Repurchase Plan
Since the inception of the Company's stock repurchase plan in 2004 through June 30, 2018, the Company's Board of Directors has authorized the repurchase of $700,000,000 of the Company's common stock. Shares of the Company's common stock may be purchased in the open market or through privately negotiated transactions, subject to market conditions. The repurchase program does not obligate the Company to acquire any specific number of shares or to acquire shares over any specified period of time. As of June 30, 2018, the Company had repurchased 22,158,325 shares under this program at an aggregate purchase price of approximately $602,169,000. During the three and six months ended June 30, 2018, the Company repurchased 264,793 and 500,290 shares of the Company's common stock at an aggregate purchase price of $22,007,000 and $40,106,000, respectively. During the three and six months ended June 30, 2017, the Company repurchased 48,943 and 665,095 shares of the Company's common stock at an aggregate purchase price of $2,542,000 and $35,542,000, respectively.