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

Financial Instruments and Risk Management (Tables)

3 Months Ended

Mar. 31, 2022

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



(in thousands)	March 31, 2022		December 31, 2021		March 31, 2021
Derivative instruments designated as cash flow hedges:
Currency forward contracts	$	536,790	$	485,083	$	484,176
Derivative instruments not designated as hedges:
Currency forward contracts	230,968		267,982		219,961

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



(in thousands)	Balance Sheet Classification	March 31, 2022		December 31, 2021		March 31, 2021
Derivative instruments designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	$	9,184	$	7,927	$	2,438
Currency forward contracts	Other non-current assets	7,351		10,142		6,159
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	3,411		2,545		4,908
Currency forward contracts	Other long-term liabilities	1,383		318		2,337
Derivative instruments not designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	1,888		1,470		1,759
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	902		1,027		1,793

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)		2022		2021
Currency Forward Contracts:
Derivative instruments designated as cash flow hedges:
Gain (loss) recognized in other comprehensive income (loss), net of tax	—	$	(1,864)	$	9,279
Gain (loss) reclassified from accumulated other comprehensive income (loss) to income for the effective portion	Net sales	(136)		100
Gain reclassified from accumulated other comprehensive income (loss) to income for the effective portion	Cost of sales	311		772

Gain reclassified from accumulated other comprehensive income (loss) to income as a result of cash flow hedge discontinuance	Other non-operating income (expense), net	222		106


Derivative instruments not designated as cash flow hedges:

Gain recognized in income	Other non-operating income (expense), net	590		897