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

Financial Instruments and Risk Management (Tables)

6 Months Ended

Jun. 30, 2024

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



(in thousands)	June 30, 2024		December 31, 2023		June 30, 2023
Derivative instruments designated as cash flow hedges:
Currency forward contracts	$	488,039	$	634,676	$	598,621
Derivative instruments not designated as hedges:
Currency forward contracts	$	377,391	$	342,532	$	465,182

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



(in thousands)	Balance Sheet Classification	June 30, 2024		December 31, 2023		June 30, 2023
Derivative instruments designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	$	10,688	$	7,367	$	13,448
Currency forward contracts	Other non-current assets	6,492		961		3,535
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	1,106		4,121		3,229
Currency forward contracts	Other long-term liabilities	65		2,629		1,532
Derivative instruments not designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	6,046		2,833		5,860

Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	993		2,269		1,936

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)		2024		2023		2024		2023
Currency forward contracts:
Derivative instruments designated as cash flow hedges:
Gain recognized in other comprehensive income (loss), net of tax	—	$	5,451	$	2,404	$	17,178	$	726
Gain (loss) reclassified from accumulated other comprehensive income (loss) to income for the effective portion	Net sales	(60)		55		(342)		246
Gain reclassified from accumulated other comprehensive income (loss) to income for the effective portion	Cost of sales	2,005		3,513		4,976		9,275

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		68		(2)


Derivative instruments not designated as cash flow hedges:

Gain (loss) recognized in income	Other non-operating income (expense), net	1,604		(93)		4,529		(1,280)