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

Financial Instruments and Risk Management (Tables)

3 Months Ended

Mar. 31, 2024

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



(in thousands)	March 31, 2024		December 31, 2023		March 31, 2023
Derivative instruments designated as cash flow hedges:
Currency forward contracts	$	597,355	$	634,676	$	525,781
Derivative instruments not designated as hedges:
Currency forward contracts	$	231,449	$	342,532	$	393,450

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



(in thousands)	Balance Sheet Classification	March 31, 2024		December 31, 2023		March 31, 2023
Derivative instruments designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	$	12,864	$	7,367	$	16,826
Currency forward contracts	Other non-current assets	5,423		961		5,935
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	1,090		4,121		2,630
Currency forward contracts	Other long-term liabilities	155		2,629		1,788
Derivative instruments not designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	1,978		2,833		890

Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	828		2,269		2,257

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)			2024		2023
Currency forward contracts:
Derivative instruments designated as cash flow hedges:
Gain (loss) recognized in other comprehensive income (loss), net of tax	—		$	11,727	$	(1,678)
Gain (loss) reclassified from accumulated other comprehensive income (loss) to income for the effective portion	Net sales		(282)		191
Gain reclassified from accumulated other comprehensive income (loss) to income for the effective portion	Cost of sales		2,971		5,762

Gain (loss) reclassified from accumulated other comprehensive income (loss) to income as a result of cash flow hedge discontinuance	Other non-operating income, net		68		(7)


Derivative instruments not designated as cash flow hedges:

Gain (loss) recognized in income	Other non-operating income, net		2,925		(1,187)