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

Quarterly report pursuant to Section 13 or 15(d)

Non-Controlling Interest Non-Controlling Interest

Non-Controlling Interest Non-Controlling Interest

3 Months Ended

Mar. 31, 2015

NON-CONTROLLING INTEREST

The Company owns a 60% controlling interest in a joint venture formed with Swire Resources, Limited (“Swire”) to support the development and operation of the Company's business in China. The joint venture began operations on January 1, 2014. The accounts of the joint venture are included in the Condensed Consolidated Balance Sheets as of March 31, 2015 and 2014, and December 31, 2014. Swire's share of net income from the joint venture is included in net income attributable to non-controlling interest in the Condensed Consolidated Statements of Operations for the three months ended March 31, 2015 and 2014. The 40% non-controlling equity interest in this entity is included in total equity as non-controlling interest in the Condensed Consolidated Balance Sheets as of March 31, 2015 and 2014, and December 31, 2014.

The following table presents the changes in Columbia Sportswear Company shareholders' equity and non-controlling interest for the three months ended March 31, 2015 (in thousands, except per share amounts):



	Columbia Sportswear Company			Non-Controlling Interest		Total
Balance at December 31, 2014	$	1,343,603		$	11,631	$	1,355,234
Net income	26,471			1,448		27,919
Other comprehensive income (loss), net of tax:
Unrealized holding losses on available-for-sale securities	(3		)	—		(3		)
Derivative holding gains	3,730			—		3,730
Foreign currency translation adjustments	(16,782		)	27		(16,755		)
Cash dividends ($0.15 per share)	(10,557		)	—		(10,557		)
Issuance of common stock under employee stock plans, net	6,661			—		6,661
Tax adjustment from stock plans	5,260			—		5,260
Stock-based compensation expense	2,946			—		2,946
Balance at March 31, 2015	$	1,361,329		$	13,106	$	1,374,435

The following table presents the changes in Columbia Sportswear Company shareholders' equity and non-controlling interest for the three months ended March 31, 2014 (in thousands, except per share amounts):



	Columbia Sportswear Company			Non-Controlling Interest			Total
Balance at December 31, 2013	$	1,245,418		$	7,446		$	1,252,864
Net income	22,255			1,421			23,676
Other comprehensive income (loss), net of tax:
Unrealized holding gains on available-for-sale securities	1			—			1
Derivative holding gains	228			—			228
Foreign currency translation adjustments	(5,380		)	(498		)	(5,878		)
Cash dividends ($0.14 per share)	(9,762		)	—			(9,762		)
Issuance of common stock under employee stock plans, net	8,377			—			8,377
Tax adjustment from stock plans	2,608			—			2,608
Stock-based compensation expense	2,577			—			2,577
Balance at March 31, 2014	$	1,266,322		$	8,369		$	1,274,691

- Definition

The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock.

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