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

Financial Instruments and Risk Management (Tables)

9 Months Ended

Sep. 30, 2022

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



(in thousands)	September 30, 2022		December 31, 2021		September 30, 2021
Derivative instruments designated as cash flow hedges:
Currency forward contracts	$	459,189	$	485,083	$	471,250
Derivative instruments not designated as hedges:
Currency forward contracts	287,825		267,982		247,134

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



(in thousands)	Balance Sheet Classification	September 30, 2022		December 31, 2021		September 30, 2021
Derivative instruments designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	$	32,289	$	7,927	$	5,500
Currency forward contracts	Other non-current assets	13,919		10,142		8,723
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	—		2,545		2,164
Currency forward contracts	Other long-term liabilities	436		318		449
Derivative instruments not designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	2,912		1,470		1,633
Currency forward contracts	Other non-current assets	—		—		109
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	1,514		1,027		251
Currency forward contracts	Other long-term liabilities	—		—		17

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


	Statement Of Operations Classification	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)		2022		2021		2022		2021
Currency Forward Contracts:
Derivative instruments designated as cash flow hedges:
Gain recognized in other comprehensive income (loss), net of tax	—	$	17,191	$	8,170	$	31,780	$	13,547
Loss reclassified from accumulated other comprehensive income (loss) to income for the effective portion	Net sales	(28)		(170)		(204)		(182)
Gain (loss) reclassified from accumulated other comprehensive income (loss) to income for the effective portion	Cost of sales	4,114		(3,257)		5,373		(2,833)

Gain reclassified from accumulated other comprehensive income (loss) to income as a result of cash flow hedge discontinuance	Other non-operating income (expense), net	—		345		222		451


Derivative instruments not designated as cash flow hedges:

Gain recognized in income	Other non-operating income (expense), net	1,341		1,077		2,638		355