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

Financial Instruments and Risk Management (Tables)

9 Months Ended

Sep. 30, 2023

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



(in thousands)	September 30, 2023		December 31, 2022		September 30, 2022
Derivative instruments designated as cash flow hedges:
Currency forward contracts	$	548,424	$	514,365	$	459,189
Derivative instruments not designated as hedges:
Currency forward contracts	$	477,843	$	448,838	$	287,825

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



(in thousands)	Balance Sheet Classification	September 30, 2023		December 31, 2022		September 30, 2022
Derivative instruments designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	$	17,121	$	20,306	$	32,289
Currency forward contracts	Other non-current assets	6,511		7,153		13,919
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	972		1,249		—
Currency forward contracts	Other long-term liabilities	104		1,770		436
Derivative instruments not designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	4,485		3,027		2,912

Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	1,389		2,533		1,514

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)		2023		2022		2023		2022
Currency Forward Contracts:
Derivative instruments designated as cash flow hedges:
Gain recognized in other comprehensive income (loss), net of tax	—	$	9,876	$	17,191	$	10,602	$	31,780
Gain (loss) reclassified from accumulated other comprehensive income (loss) to income for the effective portion	Net sales	(236)		(28)		10		(204)
Gain reclassified from accumulated other comprehensive income (loss) to income for the effective portion	Cost of sales	8,874		4,114		18,149		5,373

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	—		—		(2)		222


Derivative instruments not designated as cash flow hedges:

Gain recognized in income	Other non-operating income (expense), net	3,313		1,341		2,033		2,638