Columbia Sportswear Company Annual report pursuant to Section 13 and 15(d)

Financial Instruments and Risk Management (Tables)

12 Months Ended

Dec. 31, 2020

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


	December 31,
(in thousands)	2020		2019
Derivative instruments designated as cash flow hedges:
Currency forward contracts	$	417,707	$	471,822
Derivative instruments not designated as hedges:
Currency forward contracts	326,280		214,086

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


		December 31,
(in thousands)	Balance Sheet Classification	2020		2019
Derivative instruments designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	$	947	$	11,855
Currency forward contracts	Other non-current assets	1,126		4,159
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	7,573		1,313
Currency forward contracts	Other long-term liabilities	6,590		768
Derivative instruments not designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	1,650		2,146
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	2,268		953

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


		Year Ended December 31,
(in thousands)	Statement Of Operations Classification	2020		2019		2018
Currency Forward Contracts:
Derivative instruments designated as cash flow hedges:
Gain (loss) recognized in other comprehensive income (loss), net of tax	—	$	(7,218)	$	6,669	$	23,503
Gain reclassified from accumulated other comprehensive income (loss) to income for the effective portion	Net sales	191		338		62
Gain (loss) reclassified from accumulated other comprehensive income (loss) to income for the effective portion	Cost of sales	14,495		9,558		(7,604)

Gain reclassified from accumulated other comprehensive income (loss) to income as a result of cash flow hedge discontinuance	Other non-operating income (expense), net	817		—		—
Gain (loss) recognized in income for amount excluded from effectiveness testing and for the ineffective portion	Net sales	—		(43)		19
Gain recognized in income for amount excluded from effectiveness testing and for the ineffective portion	Cost of sales	—		2,380		7,009
Derivative instruments not designated as cash flow hedges:

Gain (loss) recognized in income	Other non-operating income (expense), net	(2,865)		411		3,334