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

Financial Instruments And Risk Management (Tables)

3 Months Ended

Mar. 31, 2015

The following table presents the gross notional amount of outstanding derivative instruments (in thousands):



	March 31, 2015		December 31, 2014		March 31, 2014
Derivative instruments designated as cash flow hedges:
Currency forward contracts	$	106,500	$	103,000	$	142,500
Currency option contracts	7,000		—		—
Derivative instruments not designated as cash flow hedges:
Currency forward contracts	75,000		128,000		36,000

The following table presents the balance sheet classification and fair value of derivative instruments (in thousands):



	Balance Sheet Classification	March 31, 2015		December 31, 2014		March 31, 2014
Derivative instruments designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	$	14,475	$	9,993	$	2,391
Currency option contracts	Prepaid expenses and other current assets	132		—		—
Currency forward contracts	Other non-current assets	—		—		128
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	—		—		1,017
Currency forward contracts	Other long-term liabilities	—		—		33
Derivative instruments not designated as cash flow hedges:
Derivative instruments in asset positions:
Currency forward contracts	Prepaid expenses and other current assets	1,180		2,754		312
Derivative instruments in liability positions:
Currency forward contracts	Accrued liabilities	123		924		—

The following table presents the statement of operations effect and classification of derivative instruments (in thousands):



	Statement of Operations Classification	Three Months Ended March 31,
	Statement of Operations Classification	2015			2014
Currency Forward and Option Contracts:
Derivative instruments designated as cash flow hedges:
Gain recognized in other comprehensive income or loss	—	$	5,582		$	704
Gain reclassified from accumulated other comprehensive income or loss to income for the effective portion	Cost of sales	2,257			809
Loss recognized in income for amount excluded from effectiveness testing and for the ineffective portion	Net sales	(15		)	—
Loss recognized in income for amount excluded from effectiveness testing and for the ineffective portion	Cost of sales	(122		)	(22		)
Derivative instruments not designated as cash flow hedges:
Gain (loss) recognized in income	Other non-operating expense	2,936			(1,465		)