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

Financial Instruments And Risk Management (Tables)

3 Months Ended

Mar. 31, 2016

The following table presents the gross notional amount of outstanding derivative instruments (in thousands):



	March 31, 2016		December 31, 2015		March 31, 2015
Derivative instruments designated as cash flow hedges:
Currency forward contracts	$	228,500	$	161,000	$	106,500
Currency option contracts	—		—		7,000
Derivative instruments not designated as cash flow hedges:
Currency forward contracts	60,785		113,195		75,000

The following table presents the balance sheet classification and fair value of derivative instruments (in thousands):



	Balance Sheet Classification	March 31, 2016		December 31, 2015		March 31, 2015
Derivative instruments designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	$	409	$	5,394	$	14,475
Currency option contracts	Prepaid expenses and other current assets	—		—		132
Currency forward contracts	Other non-current assets	63		566		—
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	3,524		224		—
Currency forward contracts	Other long-term liabilities	922		—		—
Derivative instruments not designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	7		1,328		1,180
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	727		1,693		123

The following table presents the statement of operations effect and classification of derivative instruments (in thousands):



	Statement of Operations Classification	Three Months Ended March 31,
	Statement of Operations Classification	2016			2015
Currency Forward and Option Contracts:
Derivative instruments designated as cash flow hedges:
Gain (loss) recognized in other comprehensive income or loss	—	$	(7,138	)	$	5,582
Gain reclassified from accumulated other comprehensive income or loss to income for the effective portion	Net sales	161			—
Gain reclassified from accumulated other comprehensive income or loss to income for the effective portion	Cost of sales	1,434			2,257
Gain (loss) recognized in income for amount excluded from effectiveness testing and for the ineffective portion	Net sales	4			(15		)
Gain (loss) recognized in income for amount excluded from effectiveness testing and for the ineffective portion	Cost of sales	422			(122		)
Derivative instruments not designated as cash flow hedges:
Gain (loss) recognized in income	Other non-operating expense	(1,554		)	2,936