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

Financial Instruments and Risk Management (Tables)

6 Months Ended

Jun. 30, 2023

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



(in thousands)	June 30, 2023		December 31, 2022		June 30, 2022
Derivative instruments designated as cash flow hedges:
Currency forward contracts	$	598,621	$	514,365	$	542,879
Derivative instruments not designated as hedges:
Currency forward contracts	$	465,182	$	448,838	$	239,676

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



(in thousands)	Balance Sheet Classification	June 30, 2023		December 31, 2022		June 30, 2022
Derivative instruments designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	$	13,448	$	20,306	$	18,212
Currency forward contracts	Other non-current assets	3,535		7,153		13,158
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	3,229		1,249		444
Currency forward contracts	Other long-term liabilities	1,532		1,770		261
Derivative instruments not designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	5,860		3,027		4,085

Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	1,936		2,533		1,410

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


	Statement Of Operations Classification	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)		2023		2022		2023		2022
Currency Forward Contracts:
Derivative instruments designated as cash flow hedges:
Gain recognized in other comprehensive income (loss), net of tax	—	$	2,404	$	16,453	$	726	$	14,589
Gain (loss) reclassified from accumulated other comprehensive income (loss) to income for the effective portion	Net sales	55		(40)		246		(176)
Gain reclassified from accumulated other comprehensive income (loss) to income for the effective portion	Cost of sales	3,513		948		9,275		1,259

Gain (loss) reclassified from accumulated other comprehensive income (loss) to income as a result of cash flow hedge discontinuance	Other non-operating income (expense), net	5		—		(2)		222


Derivative instruments not designated as cash flow hedges:

Gain (loss) recognized in income	Other non-operating income (expense), net	(93)		707		(1,280)		1,297