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

Financial Instruments And Risk Management (Tables)

3 Months Ended

Mar. 31, 2019

The following table presents the gross notional amount of outstanding derivative instruments:



(in thousands)	March 31, 2019		December 31, 2018		March 31, 2018
Derivative instruments designated as cash flow hedges:
Currency forward contracts	$	399,068	$	399,348	$	584,107
Derivative instruments not designated as cash flow hedges:
Currency forward contracts	208,941		379,701		234,579

The following table presents the balance sheet classification and fair value of derivative instruments:



(in thousands)	Balance Sheet Classification	March 31, 2019		December 31, 2018		March 31, 2018
Derivative instruments designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	$	14,366	$	11,818	$	998
Currency forward contracts	Other non-current assets	10,014		9,922		2,492
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	149		47		11,017
Currency forward contracts	Other long-term liabilities	—		1		7,294
Derivative instruments not designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	971		1,797		1,121
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	349		970		355

The following table presents the statement of operations effect and classification of derivative instruments:



	Statement of Operations Classification	Three Months Ended March 31,
(in thousands)	Statement of Operations Classification	2019			2018
Currency Forward and Option Contracts:
Derivative instruments designated as cash flow hedges:
Gain (loss) recognized in other comprehensive income, net of tax	—	$	3,268		$	(5,232	)
Gain reclassified from accumulated other comprehensive income to income for the effective portion	Net sales	35			5
Gain (loss) reclassified from accumulated other comprehensive income or loss to income for the effective portion	Cost of sales	1,196			(2,206		)
Gain (loss) recognized in income for amount excluded from effectiveness testing and for the ineffective portion	Net sales	(5		)	6
Gain recognized in income for amount excluded from effectiveness testing and for the ineffective portion	Cost of sales	1,449			1,925
Derivative instruments not designated as cash flow hedges:
Gain (loss) recognized in income	Other non-operating expense	563			(602		)