Quarterly report pursuant to Section 13 or 15(d)

Non-Controlling Interest

v3.5.0.2
Non-Controlling Interest
 6 Months Ended
Jun. 30, 2016
Noncontrolling Interest [Abstract]  
Non-controlling Interest
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 financial statements. 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 and six months ended June 30, 2016 and 2015. 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 June 30, 2016 and 2015, and December 31, 2015.
The following table presents the changes in Columbia Sportswear Company shareholders' equity and non-controlling interest for the six months ended June 30, 2016 (in thousands, except per share amounts):
 
 
Columbia Sportswear Company
 
Non-Controlling Interest
 
Total
Balance at December 31, 2015
 
$
1,399,800

 
$
16,013

 
$
1,415,813

Net income
 
23,598

 
2,723

 
26,321

Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
Unrealized holding losses on available-for-sale securities
 
2

 
—

 
2

Derivative holding losses
 
(9,424
)
 
—

 
(9,424
)
Foreign currency translation adjustments
 
19,485

 
(649
)
 
18,836

Cash dividends ($0.34 per share)
 
(23,689
)
 
—

 
(23,689
)
Issuance of common stock under employee stock plans, net
 
9,102

 
—

 
9,102

Tax adjustment from stock plans
 
(4,806
)
 
—

 
(4,806
)
Stock-based compensation expense
 
5,453

 
—

 
5,453

Balance at June 30, 2016
 
$
1,419,521

 
$
18,087

 
$
1,437,608


The following table presents the changes in Columbia Sportswear Company shareholders' equity and non-controlling interest for the six months ended June 30, 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
 
19,926

 
2,189

 
22,115

Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
Unrealized holding gains on available-for-sale securities
 
(2
)
 
—

 
(2
)
Derivative holding gains
 
1,720

 
—

 
1,720

Foreign currency translation adjustments
 
(14,134
)
 
26

 
(14,108
)
Cash dividends ($0.30 per share)
 
(21,113
)
 
—

 
(21,113
)
Issuance of common stock under employee stock plans, net
 
9,840

 
—

 
9,840

Tax adjustment from stock plans
 
6,392

 
—

 
6,392

Stock-based compensation expense
 
5,939

 
—

 
5,939

Repurchase of common stock
 
(14,525
)
 
—

 
(14,525
)
Balance at June 30, 2015
 
$
1,337,646

 
$
13,846

 
$
1,351,492