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

Financial Instruments and Risk Management (Tables)

3 Months Ended

Mar. 31, 2023

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



(in thousands)	March 31, 2023		December 31, 2022		March 31, 2022
Derivative instruments designated as cash flow hedges:
Currency forward contracts	$	525,781	$	514,365	$	536,790
Derivative instruments not designated as hedges:
Currency forward contracts	393,450		448,838		230,968

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



(in thousands)	Balance Sheet Classification	March 31, 2023		December 31, 2022		March 31, 2022
Derivative instruments designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	$	16,826	$	20,306	$	9,184
Currency forward contracts	Other non-current assets	5,935		7,153		7,351
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	2,630		1,249		3,411
Currency forward contracts	Other long-term liabilities	1,788		1,770		1,383
Derivative instruments not designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	890		3,027		1,888

Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	2,257		2,533		902

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)			2023		2022
Currency Forward Contracts:
Derivative instruments designated as cash flow hedges:
Loss recognized in other comprehensive income (loss), net of tax	—		$	(1,678)	$	(1,864)
Gain (loss) reclassified from accumulated other comprehensive income (loss) to income for the effective portion	Net sales		191		(136)
Gain reclassified from accumulated other comprehensive income (loss) to income for the effective portion	Cost of sales		5,762		311

Gain (loss) reclassified from accumulated other comprehensive income (loss) to income as a result of cash flow hedge discontinuance	Other non-operating income, net		(7)		222


Derivative instruments not designated as cash flow hedges:

Gain (loss) recognized in income	Other non-operating income, net		(1,187)		590